Celsius Holdings (CELH) Q3 FY2023 earnings: revenue $385 million, up 104.4% on the year

Celsius Holdings, Inc. (CELH) reported revenue of $385 million for Q3 FY2023, the quarter ended 30 September 2023, up 104.4% on the same quarter a year earlier. Net income was $84 million, and diluted earnings per share $0.30. The figures are the company's own, from the 10-Q it filed with the SEC on 7 November 2023.

Revenue$385 millionup 104.4%

Net income$84 million

Diluted EPS$0.30

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	385	n/a	n/a	n/a
Cost of revenue	191	n/a	n/a	n/a
Gross profit	194	n/a	n/a	n/a
Gross margin	50.4%	n/a	n/a
Research and development	0.5	n/a	n/a	n/a
Operating income	97.7	n/a	n/a	n/a
Operating margin	25.4%	n/a	n/a
Pre-tax income	105	n/a	n/a	n/a
Income tax	20.8	n/a	n/a	n/a
Effective tax rate	19.9%	n/a	n/a
Net income	83.9	n/a	n/a	n/a
Net margin	21.8%	n/a	n/a
Diluted EPS	$0.30	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	90.8	n/a	n/a	n/a
Capital expenditure	5.9	n/a	n/a	n/a
Free cash flow	85.0	n/a	n/a	n/a
Free cash flow margin	22.1%	n/a	n/a
Cash from investing	-5.9	n/a	n/a	n/a
Cash from financing	-6.0	n/a	n/a	n/a
Depreciation and amortisation	0.8	n/a	n/a	n/a
Share-based compensation	5.0	n/a	n/a	n/a
Diluted shares, weighted	237m	n/a	n/a	n/a
Shares outstanding at period end	232m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	213	n/a	n/a	n/a
Redeemable equity	824	n/a	n/a	n/a
Operating lease liabilities	0.5	n/a	n/a	n/a
Finance lease liabilities	0.1	n/a	n/a	n/a
Other liabilities	507	n/a	n/a	n/a
Total liabilities and equity	1,546	n/a	n/a	n/a
Fixed assets	21.1	n/a	n/a	n/a
Goodwill	13.6	n/a	n/a	n/a
Intangible assets	11.8	n/a	n/a	n/a
Cash and equivalents	760	n/a	n/a	n/a
Receivables	215	n/a	n/a	n/a
Inventory	199	n/a	n/a	n/a
Other assets	325	n/a	n/a	n/a
Total assets	1,546	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	385	347	356	402	266	332	329	739	725	722	783	818
Cost of revenue	191	181	174	193	144	166	157	358	353	380	405	424
Gross profit	194	166	182	209	122	167	172	381	372	342	378	394
Gross margin	50%	48%	51%	52%	46%	50%	52%	52%	51%	47%	48%	48%
R&D	0.5	0.7	0.2	0.2	0.3	0.3	n/a	n/a	n/a	n/a	n/a	n/a
SG&A	n/a	n/a	99.0	115	125	185	120	238	206	235	235	238
Operating income	97.7	58.9	83.2	94.2	-3.2	-18.5	52.0	143	-80.0	26.1	139	75.3
Operating margin	25%	17%	23%	23%	-1%	-6%	16%	19%	-11%	4%	18%	9%
Interest expense	n/a	n/a	n/a	0.0	0.0	n/a	0.0	18.1	18.2	12.7	11.8	11.6
Pre-tax income	105	67.8	92.5	105	8.2	-10.2	61.0	129	-88.0	22.6	138	69.5
Tax rate	20%	26%	16%	24%	22%	n/a	27%	23%	n/a	-9%	20%	20%
Net income	83.9	50.1	77.8	79.8	6.4	-18.9	44.4	99.9	-61.0	24.7	110	55.3
Net margin	22%	14%	22%	20%	2%	-6%	13%	14%	-8%	3%	14%	7%
Diluted EPS	$0.30	$0.17	$0.27	$0.28	$0.00	-$0.10	$0.15	$0.33	-$0.27	$0.04	$0.33	$0.14
Operating cash flow	90.8	5.2	135	39.6	12.9	75.7	103	43.7	332	-119	73.7	223
Capital expenditure	5.9	4.7	4.5	9.2	4.2	5.4	6.9	8.2	10.3	10.5	7.9	17.1
Free cash flow	85.0	0.4	130	30.4	8.7	70.3	96.4	35.5	321	-130	65.8	205
Buybacks	n/a	n/a	0.0	0.0	1.7	0.6	1.9	0.9	0.4	2.4	8.8	1.0
Shares outstanding	232m	232m	233m	233m	235m	235m	235m	258m	258m	257m	257m	253m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 7 November 2023, accession 0001341766-23-000035: the filing on EDGAR. All of Celsius Holdings, Inc.'s filings: EDGAR company page.

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