Celsius Reports Record Third Quarter Revenue of $36.8M, up 80%

The company announced that its third quarter revenue grew 60% to $26.9M due to distribution expansion and robust demand.  

BOCA RATON, Fla., Nov. 12, 2020 /PRNewswire/ -- (Nasdaq: CELH) Celsius Holdings Inc., maker of the leading global fitness drink, CELSIUS®, today reported financial results for the three and nine month periods ended September 30, 2020.

2020 Third Quarter Highlights:

• Revenue of $36.8 million, up 80% from $20.4 million in the year ago quarter.
• North American revenue increased 60% to $26.9 million, up from $16.8 million in the year ago quarter
• Driven by continued strong double-digit growth in traditional channels of trade and expansion with world class retail and distribution partners as well as 111% growth in ecommerce sales, off-set by softness in sales from the Fitness channel (down 23% from the prior year) affected by the health crisis and the related adverse impact to the macro-economic environment
• International revenue increased 172% to $10.0 million, from $3.7 million in the year ago quarter
• Nordic revenues increased by 182% to $9.5 million due to consolidation of results from the acquisition of our Nordic partner in October of 2019
• Revenues from other International markets totaled $420,000 which included royalty revenues from China of $192,000 and $228,000 from all other international markets (e.g., Malaysia, Hong Kong, Australia, Caribbean, etc.)
• Gross profit of $17.5 million, up 103% from $8.6 million in the year ago quarter
• Gross profit margins total 47.6% (53.7% excluding outbound freight) of revenues
• Net Profit to common stockholders of approximately $4.8 million compared to $960,000 in the year ago quarter
• Non-GAAP Adjusted EBITDA* excluding one-time charges totaled a profit of approximately $6.9 million compared to $2.6 million in the year ago quarter

The full report may be viewed here.