Celsius Holdings, Inc.

Celsius Holdings, Inc. develops, markets, sells, manufactures and distributes functional energy and wellness beverages in the United States and internationally. Its portfolio is anchored by CELSIUS®, with additional brands including Alani Nu® and Rockstar®, and it also offers adjacent wellness products such as powders and hydration formats. The company positions its products as premium, better-for-you beverages for active, wellness-oriented consumers seeking energy and performance support. Celsius relies heavily on Pepsi for U.S. distribution while also using regional partners to expand internationally. Its business model combines brand building, product innovation and broad retail distribution across grocery, convenience, fitness, mass-market and e-commerce channels.

6,8 %

50,4 %

4,3 %

+85,5 %

1.68

1.37

— Celsius Holdings, Inc.
%
Functional energy drinks88% Ready-to-drink energy beverages sold under CELSIUS®, Alani Nu® and Rockstar®.
Powders and hydration products7% Portable powder formats and hydration mixes for on-the-go consumption and wellness use cases.
Wellness and nutritional extensions5% Adjacent products such as Celsius Essentials that broaden the brand into wellness-oriented nutrition.

Celsius sells primarily through distributors and large retail partners rather than directly to end consumers, so its...

  • Pepsi and distribution partnersprimary

    Buy Celsius products for national and international distribution, shelf access and route-to-market execution.

  • Grocery, convenience and mass retailprimary

    Stock CELSIUS, Alani Nu and Rockstar to capture energy-drink demand and premium beverage traffic.

  • Fitness, nutrition and wellness retailsecondary

    Buy products for consumers seeking functional energy, hydration and better-for-you formulations.

  • E-commerce retailerssecondary

    Sell multipacks and powder formats to consumers who prefer online replenishment and convenience.

Celsius generates the majority of its revenue in North America, with the U.S. as the core market and Canada supported...

  • North America is the core revenue base and the main Pepsi distribution market
  • Canada is an expansion market enabled by Pepsi distribution rights
  • Europe is a growing international market for CELSIUS
  • Asia-Pacific is expanding through new launches, including Australia and New Zealand
  • Other international markets contribute smaller revenue but diversify the brand footprint
  • Local distribution partners are important because retail execution is market-specific

Celsius is focused on expanding its functional energy platform through brand building, product innovation and broader...

01
Integrate acquired brands and distribution relationshipsshort-term

The Alani Nu and Rockstar acquisitions expand scale but require execution to preserve margins and avoid disruption.

02
Expand international presencemedium-term

International markets provide a path to diversify revenue and build a global functional energy brand.

03
Strengthen brand differentiation and shelf executionmedium-term

The category is crowded, so visual distinctiveness and retail visibility are critical to winning repeat purchases.

Celsius faces concentration risk because Pepsi accounts for a large share of revenue and receivables, so any disruption...

critical

Dependence on Pepsi as a major customer and distributor

A large share of revenue and receivables is tied to Pepsi, so any termination, slowdown or renegotiation would materially affect the business.

Scope
U.S. distribution and cash collection
Materiality
high
high

Distributor relationship and channel execution risk

The company relies on third parties to place, stock and promote products in DSD and international markets.

Scope
Retail availability and market expansion
Materiality
high
high

Competitive pressure in functional energy beverages

The category includes large global beverage companies and strong niche brands competing for shelf space and consumer loyalty.

Scope
Pricing, promotions and market share
Materiality
high
high

Acquisition integration risk

Recent acquisitions must be integrated without disrupting supply, margins or brand positioning.

Scope
Alani Nu and Rockstar integration
Materiality
high
medium

Regulatory and labeling risk

Energy and wellness beverages face scrutiny around ingredients, claims, marketing and warning requirements.

Scope
Product formulation and advertising
Materiality
medium
Promotional allowances and billbacks
Revenue and gross margin
Seasonality
Quarterly revenue and operating leverage
Acquisition accounting and fair value estimates
Goodwill, intangibles and earnings
Inventory valuation step-up
Gross profit margin

: 28/04/2026