BOCA RATON, Fla., March 14, 2019 /PRNewswire/ -- (Nasdaq: CELH) Celsius Holdings Inc., maker of the leading global fitness drink, CELSIUS®, today reported financial results for the year and quarter ended December 31, 2018.
Full Year 2018 Financial and Business Highlights:
- Revenue of $52.6 million, up 45% from $36.2 million in 2017
- Domestic revenue increased 62% to a record $38.9 million, up from $24.1 million in 2017
- International revenue increased 13% to $13.7 million, up from $12.1 million in 2017
- Gross profit increased 37% to $21.1 million, up from $15.4 million in 2017
- Net loss to common stockholders was $11.4 million, inclusive of $7.2 million net investment in Asia, compared to a net loss to common stockholders of $8.6 million, inclusive of $7.3 million net investment in Asia, in 2017
- Non-GAAP Adjusted EBITDA* of $(6.3) million compared to $(5.5) million in 2017, Excluding Asia investments and one-time charges, Celsius delivered a non-GAAP adjusted EBITDA profit* of $2.2 million in 2018.
- Continued domestic expansion with new high-profile launches including Target, CVS, and Food Lion with further expansion in Fitness, Military and Vending channels
- Expanded China market to 47,000 locations in 63 cities with regional distribution through partnership with Qifeng Food Technology (Beijing) Co. Ltd. Effective January 1, 2019 the Company entered into a royalty license and repayment of investment agreement with Qifeng Food Technology (Beijing) Co., Ltd., which establishes a risk-mitigated method of capturing market share in China.
- European markets were down 17% versus the prior year as a result of timing of promotional programs, new flavor launches, and our partner's reduction of inventory carrying values.
Fourth Quarter 2018 Financial Highlights:
- Revenue of $14.7 million, up 62% from $9.1 million in the year ago quarter
- Domestic revenue increased 63% to a record $10.9 million, up from $6.7 million in the year ago quarter
- International revenue increased 55% to $3.8 million, up from $2.4 million in the year ago quarter
- Gross profit of $5.4 million, up 42% from $3.8 million in the year ago quarter
- Net loss to common stockholders was $890,000 compared to a net loss to common stockholders of $5.3 million in the year ago quarter
- Non-GAAP Adjusted EBITDA* was $785,000 compared to $(4.6) million in the year ago quarter
