Business
Celsius Delivers Record Second Quarter Revenue of $16.1 Million, up 73%
BOCA RATON, Fla., Aug. 8, 2019 /PRNewswire/ -- (Nasdaq: CELH) Celsius Holdings Inc., maker of the leading global fitness drink, CELSIUS®, today reported
About this update from Celsius Holdings, Inc.
[{"type":"text","content":" BOCA RATON, Fla., Aug. 8, 2019 /PRNewswire/ -- (Nasdaq: CELH) Celsius Holdings Inc., maker of the leading global fitness drink, CELSIUS®, today reported financial results for the three and six months ended June 30, 2019. \n\n \n2019 Second Quarter Highlights: \nRevenue of $16.1 million, up 73% from $9.3 million in the year ago quarter Domestic revenue increased 69% to $14.4 million, up from $8.5 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. International revenue increased 119% to $1.7 million, up from $766,000 in the year ago quarter Our Nordic distribution partner People's Choice, increased revenues by 64% to $1.3 million due to timing of promotional programs and new flavor launches. Asian revenues totaled $381,000 which included royalty revenues from China of $88,000 and $293,000 in initial revenues from Malaysia as well as continued recurring revenues from Hong Kong. Gross profit of $6.9 million, up 70% from $4.0 million in the year ago quarter Net loss to common stockholders of $1.5 million compared to a net loss to common stockholders of $3.4 million in the year ago quarter, inclusive of $834,000 in net investments in Asia and a $1.0 million legal settlement in 2018. Non-GAAP Adjusted EBITDA* excluding one-time charges totaled a loss of $15,000 compared to a loss of $262,000 in the year ago quarter excluding the net Asia investments of $834,000.2019 First Half Highlights: \nRevenue of $30.6 million, up 43% from $21.4 million in the 2018 period Domestic revenue increased 55% to $25.8 million, up from $16.6 million in the 2018 period Driven by continued strong growth in existing traditional channels of trade and expansion with world class retail and distribution partners. International revenue increased 1% to $4.8 million, up from $4.7 in the 2018 period Our Nordic distribution partner People's Choice, increased revenues by 30% to $4.3 million due to timing of promotional programs and new flavor launches. Asian revenues totaled $434,000 and included royalty revenues from China of $178,000, a decrease of $920,000 due to a change in the business model in China to a royalty and licensing framework which mitigates risk and reduces marketing investments, but correspondingly decreases revenue. Asian re...