Celsius Holdings — Third Quarter 2026 Earnings Summary

Financial Performance:

• Total revenue increased 16.8% year-over-year (YoY) to $847.2 million for Q3 2026, compared to $725.1 million in Q3 2025; Year-to-Date (YTD) revenue reached $2,447.8 million, a 36% increase from $1,793.6 million in the prior-year period.
• North America revenue grew 15% YoY to $806.2 million in Q3 2026; International revenue surged 78% YoY to $41.0 million in Q3 2026.
• Gross profit increased 6.4% to $396.3 million in Q3 2026; Gross margin decreased 450 basis points (bps) to 46.8% from 51.3% in Q3 2025, and 390 bps to 47.7% YTD from 51.6% in the prior-year period.
• Net income turned positive to $127.0 million in Q3 2026 from a loss of $61.0 million in Q3 2025; YTD net income was $292.3 million compared to $83.3 million in the prior-year period.
• Diluted EPS was $0.39 in Q3 2026 versus a loss of $(0.27) in Q3 2025; YTD diluted EPS was $0.86 versus $0.22 in the prior-year period.
• Adjusted Diluted EPS was $0.41 in Q3 2026 (down 2% YoY) and $1.19 YTD (up 8% YoY).
• Adjusted EBITDA was $198.6 million in Q3 2026 (down 3% YoY) and $578.3 million YTD (up 19% YoY).
• Selling, general and administrative (SG&A) expenses increased 7.3% to $220.7 million in Q3 2026, representing 26.1% of revenue; Adjusted SG&A was 25.5% of revenue.
• Cash and cash equivalents were $700.6 million as of September 30, 2026, up from $398.9 million as of December 31, 2025.
• Long-term debt stood at $667.8 million as of September 30, 2026, compared to $669.9 million as of December 31, 2025.
• Deferred revenue increased to $490.0 million total ($33.8 million current, $456.2 million non-current) as of September 30, 2026, from $428.1 million total ($27.0 million current, $401.2 million non-current) as of December 31, 2025.

Business Segments and Product Lines:

• CELSIUS brand revenue decreased approximately 6% to $356.8 million in Q3 2026, driven by SKU optimization, inventory rebalancing shipment timing, and softness in the club channel.
• Alani Nu revenue increased approximately 24% to $410.1 million in Q3 2026, driven by distribution within the PepsiCo DSD system, successful limited-time offerings (LTOs), and strong consumer demand; YTD Alani Nu revenue increased 80% to $1,142.6 million.
• Rockstar Energy contributed $80.3 million in Q3 2026 revenue, driven by strong performance in Canada and order timing; YTD Rockstar revenue was $213.5 million.
• CELSIUS brand international revenue increased 78% to $41.0 million in Q3 2026, driven by momentum in Nordic markets and expansion into Iberia, the UK, Ireland, France, Australia, New Zealand, and Benelux.
• Retail sales of the portfolio in U.S. tracked channels increased 14.7% for the 13-week period ended September 27, 2026.
• The portfolio held an approximate 20.7% dollar share in the U.S. RTD energy category for the 13-week period ended September 27, 2026, contributing 28% of the category's $773 million growth.
• CELSIUS brand held a 9.1% dollar share in the U.S. RTD energy category, with retail sales decreasing 7.0% YoY.
• Alani Nu held a 9.8% dollar share in the U.S. RTD energy category, with retail sales increasing 57.9% YoY.
• Rockstar Energy held a 1.8% dollar share in the U.S. RTD energy category, with retail sales decreasing 13.2% YoY due to planned SKU optimization.

Management Commentary and Tone:

• CEO John Fieldly stated the company delivered record quarterly revenue reflecting the strength of its scaled, multi-brand Modern Energy platform and execution of its total energy portfolio strategy.
• Management highlighted progress in improving CELSIUS brand performance and advancing operational execution across the portfolio.
• New leadership appointments include Alex Zigliara as President of CELSIUS and Rishi Daing as President of Rockstar Energy & Emerging Growth.
• Management emphasized priorities including realizing benefits of the integrated platform, improving margins through revenue growth management, supply chain and cost initiatives, and positioning each brand for sustainable growth.
• The tone indicated confidence in the business, citing share repurchases as a reflection of long-term shareholder value creation.

Other Key Points:

• The Company repurchased approximately $44.5 million of shares in Q3 2026 and $168.8 million YTD under its $300 million share repurchase authorization.
• Celsius Holdings acquired the Rockstar Energy brand in the U.S. and Canada on August 28, 2025.
• The Company announced a new brand-led organizational structure and leadership appointments via a separate press release.
• Management hosted a webcast on November 5, 2026, to discuss results with the investment community.
• Gross margin pressure was attributed to continued inflation in commodity costs (primarily aluminum and fuel) and a higher mix of DSD sales, partially offset by supply chain integration efficiencies.
• Raw material COGS improved excluding aluminum and fuel, with long-term margin expansion initiatives including freight optimization, raw material alignment, and price-pack architecture progressing.