Business
Celsius Holdings Delivers Record Quarterly Revenue of $28.2 Million for the First Quarter, Up 95%
First Quarter Record Domestic Revenue Increases 70% to $19.4 Million Distribution Expansion and Robust Demand Continue to Drive Growth BOCA RATON, Fla., May
About this update from Celsius Holdings, Inc.
[{"type":"text","content":"First Quarter Record Domestic Revenue Increases 70% to $19.4 Million\n Distribution Expansion and Robust Demand Continue to Drive Growth\n\n\nBOCA RATON, Fla., May 12, 2020 /PRNewswire/ -- Celsius Holdings, Inc. (Nasdaq: CELH), maker of the leading global fitness drink, CELSIUS®, today reported financial results for the quarter ended March 31, 2020. \n\n \n \n \n \n \n \n\n \n2020 First Quarter Financial and Business Highlights: \nRevenue of $28.2 million, up 95% from $14.5 million in the year ago quarter Domestic revenue increased 70% to $19.4 million, up from $11.4 million in the year ago quarter International revenue increased 186% to $8.8 million, up from $3.1 million in the year ago quarterGross profit of $13.0 million, up 128% from $5.7 million in the year ago quarter Gross profit margins total 46.1% (53.5% excluding outbound freight) of revenuesNet income of $546,000 compared to $11.7 million, inclusive of $12.2 million gain related to the recognition of a note receivable, in the year ago quarter Non-GAAP Adjusted EBITDA* was $2.8 million compared to $878,000 in the year ago quarter Launched CELSIUS HEAT® Jackfruit, a refreshing exotic tropical flavor Launched nationwide product availability with Walmart at more than 1,500 store locations Expanded nationwide product assortment to five flavors at more than 1,300 Target locations*\nThe Company reports financial results in accordance with accounting principles generally accepted in the United States (\"GAAP\"), but management believes that disclosure of adjusted EBITDA, a non-GAAP financial measure, may provide users with additional insights into operating performance.\nSubsequent to Quarter End:\nLaunched virtual workout program, \"SWEAT WITH CELSIUS,\" via Instagram Announced partnership with Barry's \"AT HOME LIVE Instagram Series\" DSD (Direct store Delivery) distributors in North America grew to over 100 partners compared to 50 when Celsius first highlighted this strategy on their July 16, 2019 press release, 50% of newly launched Walmart stores will be serviced by DSD, with additional stores to layer on DSD platform Same store sales growth historically has increased an incremental 40% when shifted to DSD platform\"Our record first quarter results reflect our continued momentum and the tremendous traction we are gaining with the distribution and placement of our product...