Celsius Holdings (CELH) FY2024 results: revenue $1.4 billion, up 2.9% on the year

Celsius Holdings, Inc. (CELH) reported revenue of $1.4 billion for fiscal 2024, the year ended 31 December 2024, up 2.9% on the year before. Net income was $145 million, down 36.0%, and diluted earnings per share $0.45. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2025.

Revenue

$1.4 billion

+2.9% on the year

FY2017FY2024

Operating margin

11.5%

20.2% a year earlier

FY2017FY2024

Net income

$145 million

-36.0% on the year

FY2017FY2024

Diluted EPS

$0.45

-41.6% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,356	1,318	654	+2.9%
Cost of revenue	675	685	383	-1.4%
Gross profit	680	633	271	+7.4%
Gross margin	50.2%	48.0%	41.4%
Research and development	1.0	1.7	0.4	-41.2%
Selling, general and administrative	524	367	429	+43.0%
Operating income	156	266	-158	-41.5%
Operating margin	11.5%	20.2%	-24.1%
Interest expense	0.0	0.0	n/a
Pre-tax income	195	292	-153	-33.1%
Income tax	50.0	64.9	34.6	-23.1%
Effective tax rate	25.6%	22.3%	n/a
Net income	145	227	-187	-36.0%
Net margin	10.7%	17.2%	-28.7%
Diluted EPS	$0.45	$0.77	-$0.88	-41.6%

$ 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

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	263	141	108	+86.2%
Capital expenditure	23.4	17.4	8.3	+34.2%
Free cash flow	240	124	99.9	+93.5%
Free cash flow margin	17.7%	9.4%	15.3%
Cash from investing	-102	-14.2	-5.7
Cash from financing	-26.0	-25.2	534
Depreciation and amortisation	7.3	3.2	1.9	+125.5%
Share-based compensation	19.6	21.2	20.7	-7.7%
Buybacks	2.3	0.0	0.0
Diluted shares, weighted	237m	237m	227m	+0.2%
Shares outstanding at period end	235m	232m	229m	+1.4%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	400	264	40.1	+51.5%
Redeemable equity	824	824	824	0.0%
Debt	0.0	0.0	0.0
Operating lease liabilities	16.7	1.0	0.3	+1,646.0%
Finance lease liabilities	0.2	0.2	0.2	+9.3%
Other liabilities	526	447	357	+17.7%
Total liabilities and equity	1,767	1,536	1,222	+15.0%
Fixed assets	55.6	24.9	10.2	+123.6%
Goodwill	71.6	14.2	13.7	+405.1%
Intangible assets	12.2	12.1	12.3	+0.6%
Cash and equivalents	890	756	614	+17.8%
Receivables	270	184	63.3	+47.2%
Inventory	131	229	173	-42.8%
Other assets	336	316	335	+6.2%
Total assets	1,767	1,536	1,222	+15.0%

10-K for the year ended 31 December 2024, filed 3 March 2025: the filing.