What is Celsius' operating income?

Celsius' total operating income in 2025 was $141.06 million, based on the following breakdown: Total Gross Profit: $1.27 billion Total Operating Expenses: $1.13 billion

Celsius (CELH) Financials

$28.09 +0.88 (+3.23%)

Closing price 04:00 PM Eastern

Extended Trading

$28.11 +0.02 (+0.07%)

As of 05:51 PM Eastern

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Annual Income Statements for Celsius

This table shows Celsius' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-2.57	-3.43	-8.61	-11	9.97	8.52	3.94	-199	182	107	64
Consolidated Net Income / (Loss)	-2.15	-3.07	-8.24	-11	9.97	8.52	3.94	-187	227	145	108
Net Income / (Loss) Continuing Operations	-2.15	-3.07	-8.24	-11	9.97	8.52	3.94	-187	227	145	108
Total Pre-Tax Income	-2.15	-3.07	-8.24	-11	9.97	8.64	-4.06	-153	292	195	125
Total Operating Income	-1.83	-2.84	-8.08	-11	-1.45	7.91	-4.09	-158	266	156	141
Total Gross Profit	7.04	9.73	15	21	31	61	128	271	633	680	1,267
Total Revenue	17	23	36	53	75	131	314	654	1,318	1,356	2,515
Operating Revenue	17	23	36	53	75	131	314	654	1,318	1,356	2,515
Total Cost of Revenue	10	13	21	32	44	70	186	383	685	675	1,248
Operating Cost of Revenue	10	13	21	32	44	70	186	383	685	675	1,248
Total Operating Expenses	8.87	13	24	32	33	53	132	429	367	524	1,126
Selling, General & Admin Expense	3.17	3.90	6.90	10	12	18	132	429	367	524	799
Restructuring Charge	-	-	-	-	-	-	-	-	0.00	0.00	327
Total Other Income / (Expense), net	-0.32	-0.22	-0.16	-0.57	11	0.73	0.03	5.14	25	39	-16
Interest Expense	0.32	0.23	0.16	0.55	0.51	0.07	0.01	-5.29	-27	-39	28
Other Income / (Expense), net	0.00	0.01	-	-0.01	-0.86	0.44	-0.28	-0.39	-1.25	0.06	12
Income Tax Expense	-	-	-	-	-	0.12	-8.00	35	65	50	17
Preferred Stock Dividends Declared	0.42	0.37	0.37	0.21	0.00	0.00	0.00	12	27	28	38
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	0.00	-	17	10	6.55
Basic Earnings per Share	($0.08)	($0.09)	($0.19)	($0.23)	$0.16	$0.12	$0.02	($0.88)	$0.79	$0.46	$0.25
Weighted Average Basic Shares Outstanding	33.18M	38.57M	44.42M	50.05M	60.76M	70.20M	221.34M	226.95M	230.78M	233.67M	252.30M
Diluted Earnings per Share	($0.08)	($0.09)	($0.19)	($0.23)	$0.16	$0.11	$0.02	($0.88)	$0.77	$0.45	$0.25
Weighted Average Diluted Shares Outstanding	33.18M	38.57M	44.42M	50.05M	64.18M	74.44M	233.07M	226.95M	236.96M	237.40M	254.91M
Weighted Average Basic & Diluted Shares Outstanding	33.18M	38.57M	44.42M	50.05M	69.24M	72.59M	75.34M	76.71M	232.79M	235.13M	256.98M

This table shows Celsius' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	39	65	67	-0.56	-23	34	86	-71	14	85	36
Consolidated Net Income / (Loss)	50	78	80	6.36	-19	44	100	-61	25	110	55
Net Income / (Loss) Continuing Operations	50	78	80	6.36	-19	44	100	-61	25	110	55
Total Pre-Tax Income	68	92	105	8.18	-10	61	129	-88	23	138	70
Total Operating Income	59	83	94	-3.21	-18	52	143	-80	26	139	75
Total Gross Profit	166	182	209	122	167	172	381	372	342	378	394
Total Revenue	347	356	402	266	332	329	739	725	722	783	818
Operating Revenue	347	356	402	266	332	329	739	725	722	783	818
Total Cost of Revenue	181	174	193	144	166	157	358	353	380	405	424
Operating Cost of Revenue	181	174	193	144	166	157	358	353	380	405	424
Total Operating Expenses	107	99	115	125	185	120	238	452	316	239	318
Selling, General & Admin Expense	107	99	115	125	185	120	238	206	235	235	238
Restructuring Charge	-	-	-	0.00	-	0.00	0.00	247	-	4.43	81
Total Other Income / (Expense), net	8.84	9.27	10	11	8.28	8.96	-14	-8.03	-3.46	-1.46	-5.73
Interest Expense	-8.84	-9.61	-11	-11	-7.89	-7.85	14	13	8.30	8.85	7.89
Other Income / (Expense), net	-0.02	-0.34	-0.26	0.28	0.42	1.12	0.54	5.36	4.84	7.39	2.16
Income Tax Expense	18	15	25	1.82	8.66	17	30	-27	-2.13	27	14
Preferred Stock Dividends Declared	11	13	13	6.91	4.61	6.78	6.85	9.66	3.79	14	14
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	0.00	-	3.22	7.31	0.00	-	11	4.72
Basic Earnings per Share	$0.17	$0.28	$0.29	$0.00	($0.10)	$0.15	$0.33	($0.27)	$0.06	$0.33	$0.14
Weighted Average Basic Shares Outstanding	230.78M	232.78M	233.20M	233.70M	233.67M	235.19M	257.75M	257.78M	252.30M	257.01M	254.81M
Diluted Earnings per Share	$0.17	$0.27	$0.28	$0.00	($0.10)	$0.15	$0.33	($0.27)	$0.06	$0.33	$0.14
Weighted Average Diluted Shares Outstanding	236.96M	237.52M	237.60M	233.70M	237.40M	237.17M	260.21M	257.78M	254.91M	259.76M	256.93M
Weighted Average Basic & Diluted Shares Outstanding	232.79M	233.08M	233.07M	235.03M	235.13M	257.74M	257.95M	257.79M	256.98M	255.64M	253.04M

This table details how cash moves in and out of Celsius' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	9.78	1.62	2.44	-6.44	15	20	-27	637	103	134	-353
Net Cash From Operating Activities	-0.76	-2.36	-8.42	-12	1.03	3.40	-97	108	141	263	359
Net Cash From Continuing Operating Activities	-0.76	-2.36	-8.42	-12	16	3.40	-97	108	141	263	359
Net Income / (Loss) Continuing Operations	-2.15	-3.07	-8.24	-11	9.97	8.52	3.94	-187	227	145	108
Consolidated Net Income / (Loss)	-2.15	-3.07	-8.24	-11	9.97	8.52	3.94	-187	227	145	108
Depreciation Expense	0.03	0.02	0.02	0.07	0.07	0.13	1.26	1.92	3.23	7.27	29
Amortization Expense	-	-	-	0.00	0.83	1.48	0.00	5.89	14	14	26
Non-Cash Adjustments To Reconcile Net Income	1.27	1.37	2.57	4.95	5.02	10	41	36	31	42	88
Changes in Operating Assets and Liabilities, net	0.09	-0.68	-2.77	-5.46	-0.35	-17	-143	252	-134	54	108
Net Cash From Investing Activities	-0.01	-0.02	-0.05	-0.11	-14	0.76	-1.26	-5.67	-14	-102	-1,296
Net Cash From Continuing Investing Activities	-0.01	-0.02	-0.05	-0.11	-14	0.76	-1.26	-5.67	-14	-102	-1,296
Purchase of Property, Plant & Equipment	-0.01	-0.03	-0.05	-0.11	-0.08	-0.57	-3.15	-8.26	-17	-23	-36
Acquisitions	-	-	-	0.00	-14	-	-	0.00	0.00	-75	-1,279
Purchase of Investments	-	-	-	-	-	-	-	-	-	-	-10
Sale and/or Maturity of Investments	-	-	-	-	-	-	-	2.59	3.23	0.00	0.00
Other Investing Activities, net	-	-	-	-	-	-	-	0.00	0.00	-3.00	29
Net Cash From Financing Activities	11	4.01	11	5.30	29	16	71	534	-25	-26	583
Net Cash From Continuing Financing Activities	11	4.01	11	5.26	29	16	71	534	-25	-26	583
Repayment of Debt	-1.29	-	-	5.00	1.47	-0.66	-0.09	-0.06	2.24	3.80	-234
Repurchase of Common Equity	-	-	-	-	-	-	-	0.00	0.00	-2.26	-46
Payment of Dividends	0.00	-	-	-0.04	0.00	0.00	0.00	-12	-27	-28	-38
Issuance of Debt	0.45	-	0.00	-	-	-	-	-	0.00	0.00	900
Cash Interest Paid	0.40	0.11	0.16	0.17	0.13	0.45	0.01	-	0.00	0.00	46
Cash Income Taxes Paid	0.00	0.00	0.00	-	-	-	0.00	14	57	99	64

This table details how cash moves in and out of Celsius' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-4.04	124	24	0.54	-14	87	-362	315	-394	10	83
Net Cash From Operating Activities	5.17	135	40	13	76	103	44	332	-119	74	223
Net Cash From Continuing Operating Activities	5.17	135	40	13	76	103	44	332	-119	74	223
Net Income / (Loss) Continuing Operations	50	78	80	6.36	-19	44	100	-61	25	110	55
Consolidated Net Income / (Loss)	50	78	80	6.36	-19	44	100	-61	25	110	55
Depreciation Expense	1.11	1.23	1.42	2.24	2.39	2.61	9.12	8.79	8.94	9.13	10
Amortization Expense	3.53	3.53	3.53	3.53	3.53	3.53	3.53	6.33	13	12	12
Non-Cash Adjustments To Reconcile Net Income	11	8.20	16	11	8.83	12	98	-52	29	-1.38	12
Changes in Operating Assets and Liabilities, net	-61	44	-61	-10	80	40	-167	430	-196	-56	133
Net Cash From Investing Activities	-4.75	-4.53	-9.21	-7.24	-81	-6.94	-1,270	-2.15	-17	-7.68	-17
Net Cash From Continuing Investing Activities	-4.75	-4.53	-9.21	-7.24	-81	-6.94	-1,270	-2.15	-17	-7.68	-17
Purchase of Property, Plant & Equipment	-4.75	-4.53	-9.21	-4.24	-5.41	-6.94	-8.25	-10	-11	-7.92	-17
Acquisitions	-	-	-	-	-	-	-	-22	-	0.24	-0.24
Net Cash From Financing Activities	-6.28	-5.89	-6.67	-5.90	-7.51	-11	863	-12	-257	-56	-120
Net Cash From Continuing Financing Activities	-6.28	-5.89	-6.67	-5.90	-7.51	-11	863	-12	-257	-56	-120
Repayment of Debt	-0.01	0.95	-0.02	-0.02	-0.02	-1.87	-29	-2.27	-201	-1.78	-1.06
Repurchase of Common Equity	-	0.00	-	-	-0.60	-1.93	-0.88	-0.45	-42	-29	-105
Payment of Dividends	-6.95	-6.84	-6.84	-6.91	-6.91	-6.78	-6.85	-9.67	-14	-14	-14
Cash Interest Paid	-	-	-	-	-	0.00	-	17	11	11	11
Cash Income Taxes Paid	24	0.32	78	21	0.10	0.67	42	9.33	13	0.54	36

This table presents Celsius' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	15	18	27	35	90	131	314	1,222	1,536	1,767	5,120
Total Current Assets	15	18	27	35	52	93	262	918	1,205	1,325	1,811
Cash & Equivalents	10	12	14	7.74	23	43	16	614	756	890	399
Restricted Cash	-	-	-	-	-	-	0.00	39	-	0.00	141
Accounts Receivable	2.13	2.79	6.38	13	7.77	15	39	63	184	270	755
Inventories, net	2.32	2.21	5.31	11	15	18	191	173	229	131	338
Prepaid Expenses	0.67	0.94	1.18	2.30	4.17	15	14	11	20	19	129
Other Current Assets	-	-	-	-	-	-	0.00	14	14	14	49
Plant, Property, & Equipment, net	0.02	0.03	0.06	0.12	0.13	0.58	3.18	10	25	56	88
Total Noncurrent Assets	0.00	0.00	0.00	0.00	39	38	48	294	307	387	3,221
Goodwill	-	-	-	0.00	10	10	15	14	14	72	918
Intangible Assets	-	-	-	0.00	17	17	16	12	12	12	1,392
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	0.00	9.02	0.50	30	39	96
Other Noncurrent Operating Assets	-	-	-	0.00	0.91	0.96	0.00	264	249	264	815
Total Liabilities & Shareholders' Equity	15	18	27	35	90	131	314	1,222	1,536	1,767	5,120
Total Liabilities	6.52	6.82	9.96	23	27	27	97	357	448	542	2,178
Total Current Liabilities	2.02	2.32	6.46	15	27	26	93	161	277	366	1,079
Short-Term Debt	-	-	-	0.00	8.63	-	-	-	-	0.00	25
Accounts Payable	1.81	1.75	6.31	15	17	25	72	36	43	41	138
Accrued Expenses	-	-	-	-	-	-	19	110	162	285	539
Current Deferred Revenue	0.03	0.21	-	-	-	-	0.00	9.68	9.51	9.51	27
Current Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	1.19	50	11	50
Other Current Liabilities	-	-	0.02	0.02	0.76	0.95	1.65	4.32	12	19	301
Total Noncurrent Liabilities	4.50	4.50	3.50	7.96	0.24	0.60	3.85	196	171	177	1,099
Long-Term Debt	4.50	4.50	3.50	7.96	0.00	-	-	-	-	0.00	670
Noncurrent Deferred Revenue	-	-	-	-	-	-	0.00	180	167	158	401
Other Noncurrent Operating Liabilities	-	-	-	0.00	0.24	0.51	0.70	0.33	0.96	19	28
Commitments & Contingencies	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	0.00	824	824	824	1,760
Total Equity & Noncontrolling Interests	8.74	11	17	12	63	104	217	40	264	400	1,181
Total Preferred & Common Equity	8.74	11	17	12	63	104	217	40	264	400	1,181
Total Common Equity	8.74	11	17	12	63	104	217	40	264	400	1,181
Common Stock	59	64	79	85	128	160	268	281	277	300	1,051
Retained Earnings	-50	-53	-62	-73	-63	-55	-51	-239	-12	106	176
Treasury Stock	-	-	-	-	-	-	-	-	-	-2.59	-48
Accumulated Other Comprehensive Income / (Loss)	-	0.00	-0.04	-0.03	-0.75	-0.20	0.61	-1.88	-0.70	-3.25	3.16

This table presents Celsius' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	1,292	1,399	1,546	1,646	1,719	1,704	1,860	3,795	5,266	5,158	5,168
Total Current Assets	993	1,072	1,215	1,315	1,385	1,363	1,411	1,391	1,942	1,864	1,876
Cash & Equivalents	595	681	760	879	903	904	977	615	806	549	631
Restricted Cash	38	0.00	0.00	-	-	-	-	-	127	0.00	1.90
Accounts Receivable	172	198	215	200	263	209	256	490	514	832	735
Inventories, net	154	153	199	198	181	198	141	230	283	364	391
Prepaid Expenses	16	23	24	22	23	38	22	41	163	69	67
Other Current Assets	14	14	14	14	14	14	14	14	50	49	49
Plant, Property, & Equipment, net	12	16	21	28	36	38	59	73	81	97	109
Total Noncurrent Assets	287	311	309	303	298	302	389	2,331	3,243	3,197	3,183
Goodwill	14	14	14	14	14	14	72	802	915	920	920
Intangible Assets	12	12	12	12	11	12	12	1,222	1,398	1,386	1,380
Noncurrent Deferred & Refundable Income Taxes	0.48	28	31	22	23	24	39	43	110	86	93
Other Noncurrent Operating Assets	259	257	253	254	249	252	245	264	820	805	791
Total Liabilities & Shareholders' Equity	1,292	1,399	1,546	1,646	1,719	1,704	1,860	3,795	5,266	5,158	5,168
Total Liabilities	387	444	508	483	479	456	592	1,704	2,302	2,147	2,209
Total Current Liabilities	192	269	336	315	313	289	418	660	1,029	1,051	1,044
Short-Term Debt	-	-	-	-	-	-	-	25	25	0.00	0.00
Accounts Payable	107	94	121	40	47	31	61	121	98	198	202
Accrued Expenses	69	99	137	193	236	232	303	426	546	679	718
Current Deferred Revenue	9.56	9.50	9.50	9.51	9.51	9.51	9.51	16	26	27	31
Current Deferred & Payable Income Tax Liabilities	-	59	59	59	5.37	0.74	26	22	50	64	41
Other Current Liabilities	5.77	7.68	9.52	14	15	16	18	50	285	83	52
Total Noncurrent Liabilities	195	174	172	168	166	167	174	1,044	1,273	1,096	1,165
Long-Term Debt	-	-	-	-	-	-	-	863	861	669	668
Noncurrent Deferred Revenue	175	172	169	165	162	160	155	156	387	395	464
Other Noncurrent Operating Liabilities	0.49	0.25	0.51	0.85	0.76	4.19	2.57	25	24	31	33
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	824	824	824	824	824	824	824	824	1,760	1,760	1,760
Total Equity & Noncontrolling Interests	81	131	213	338	416	424	443	1,267	1,203	1,251	1,200
Total Preferred & Common Equity	81	131	213	338	416	424	443	1,267	1,203	1,251	1,200
Total Common Equity	81	131	213	338	416	424	443	1,267	1,203	1,251	1,200
Common Stock	280	279	278	281	286	293	301	1,028	1,035	1,058	1,070
Retained Earnings	-198	-146	-62	59	132	131	143	236	165	272	313
Treasury Stock	-	-	-	-	-	-	-	-	-	-81	-183
Accumulated Other Comprehensive Income / (Loss)	-1.29	-1.88	-2.54	-2.06	-2.36	-0.34	-1.00	2.18	2.51	1.62	0.34

This table displays calculated financial ratios and metrics derived from Celsius' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	257,785,297.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	257,785,297.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.25
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	-1.28	-1.99	-5.66	-7.45	-1.45	7.81	-2.86	-110	207	116	122
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-274.42%	78.37%	28.95%	6.49%
Earnings before Interest and Taxes (EBIT)	-1.83	-2.84	-8.08	-11	-2.30	8.35	-4.37	-158	265	156	153
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1.79	-2.82	-8.06	-11	-1.41	9.96	-3.10	-150	282	177	209
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-2.69	-8.25	-13	-38	-4.35	-142	-122	86	114	-2,640
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3.31	4.00	6.59	12	49	61	200	212	333	334	3,096
Increase / (Decrease) in Invested Capital	0.00	0.69	2.59	5.42	37	12	139	11	121	1.70	2,762
Book Value per Share	$0.26	$0.28	$0.38	$0.23	$0.92	$1.46	$2.90	$0.53	$3.42	$1.70	$4.58
Tangible Book Value per Share	$0.26	$0.28	$0.38	$0.23	$0.53	$1.08	$2.49	$0.19	$3.08	$1.35	($4.38)
Total Capital	13	15	21	20	72	104	217	865	1,089	1,225	3,636
Total Debt	4.50	4.50	3.50	7.96	8.63	0.08	0.00	0.16	0.19	0.21	695
Total Long-Term Debt	4.50	4.50	3.50	7.96	0.00	0.08	0.00	0.16	0.19	0.21	670
Net Debt	-5.63	-7.25	-11	0.22	-14	-43	-16	-653	-756	-890	155
Capital Expenditures (CapEx)	0.01	0.02	0.05	0.11	0.08	-0.76	1.26	8.26	17	23	36
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3.09	3.61	6.40	12	10	24	153	104	172	69	217
Debt-free Net Working Capital (DFNWC)	13	15	21	20	33	67	169	757	928	959	757
Net Working Capital (NWC)	13	15	21	20	25	67	169	757	928	959	732
Net Nonoperating Expense (NNE)	0.87	1.08	2.58	3.76	-11	-0.72	-6.80	77	-20	-29	14
Net Nonoperating Obligations (NNO)	-5.44	-6.89	-11	0.22	-14	-43	-17	-653	-756	-890	155
Total Depreciation and Amortization (D&A)	0.03	0.02	0.02	0.07	0.89	1.61	1.26	7.80	17	21	56
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.03)	($0.06)	($0.08)	$0.05	$0.04	$0.02	$0.00	$0.79	$0.46	$0.25
Adjusted Weighted Average Basic Shares Outstanding	0.00	131.72M	137.91M	171.60M	182.29M	210.59M	221.34M	0.00	230.78M	233.67M	252.30M
Adjusted Diluted Earnings per Share	$0.00	($0.03)	($0.06)	($0.08)	$0.05	$0.04	$0.02	$0.00	$0.77	$0.45	$0.25
Adjusted Weighted Average Diluted Shares Outstanding	0.00	131.72M	137.91M	171.60M	192.55M	223.33M	233.07M	0.00	236.96M	237.40M	254.91M
Adjusted Basic & Diluted Earnings per Share	$0.00	($0.03)	($0.06)	($0.08)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	115.70M	133.26M	150.15M	207.72M	217.76M	226.01M	0.00	232.79M	235.13M	256.98M
Normalized Net Operating Profit after Tax (NOPAT)	-1.28	-1.99	-5.66	-7.45	-1.01	7.81	-2.86	-110	207	116	405
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Celsius' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	257,785,297.00	256,975,993.00	255,640,360.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	257,785,297.00	256,975,993.00	255,640,360.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	0.06	0.33	0.14
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	95.23%	36.84%	23.35%	-30.93%	-4.39%	-7.43%	83.91%	172.85%	-	137.68%	10.64%
EBITDA Growth	326.06%	79.19%	45.25%	-97.22%	-119.14%	-32.33%	57.84%	-2,200.21%	-	182.97%	-36.05%
EBIT Growth	282.93%	84.89%	47.12%	-103.01%	-130.69%	-35.85%	52.69%	-2,441.20%	-	175.44%	-46.05%
NOPAT Growth	290.10%	88.15%	49.51%	-103.19%	-129.71%	-45.88%	53.44%	-2,140.99%	-	193.64%	-45.73%
Net Income Growth	336.14%	88.74%	54.89%	-92.43%	-137.66%	-42.91%	25.16%	-1,059.94%	-	147.86%	-44.63%
EPS Growth	241.67%	107.69%	64.71%	-100.00%	-158.82%	-44.44%	17.86%	0.00%	-	120.00%	-57.58%
Operating Cash Flow Growth	108.24%	1,073.53%	-32.86%	-85.76%	1,363.11%	-23.23%	10.26%	2,465.34%	-	-28.68%	409.11%
Free Cash Flow Firm Growth	-125.85%	284.90%	120.03%	87.97%	81.07%	-74.51%	-20,821.34%	-3,704.07%	-	-18,368.09%	70.24%
Invested Capital Growth	57.09%	4.32%	22.80%	23.96%	0.51%	8.13%	600.94%	746.71%	-	921.45%	26.66%
Revenue Q/Q Growth	-9.70%	2.38%	13.01%	-33.89%	25.00%	-0.88%	124.51%	-1.91%	-	8.45%	4.51%
EBITDA Q/Q Growth	-37.64%	37.79%	12.96%	-97.14%	-529.22%	587.41%	163.38%	-138.12%	-	217.89%	-40.47%
EBIT Q/Q Growth	-39.58%	40.56%	13.48%	-103.13%	-515.63%	393.94%	170.02%	-152.01%	-	373.65%	-47.11%
NOPAT Q/Q Growth	-44.34%	60.65%	2.65%	-103.48%	-418.12%	392.67%	191.00%	-150.79%	-	290.07%	-46.21%
Net Income Q/Q Growth	-40.30%	55.26%	2.53%	-92.03%	-396.98%	335.32%	124.80%	-161.10%	-	345.04%	-49.78%
EPS Q/Q Growth	-43.33%	58.82%	3.70%	-100.00%	0.00%	250.00%	120.00%	-181.82%	-	450.00%	-57.58%
Operating Cash Flow Q/Q Growth	-94.31%	2,503.42%	-70.56%	-67.37%	485.06%	36.60%	-57.71%	659.06%	-	161.72%	201.86%
Free Cash Flow Firm Q/Q Growth	86.54%	175.33%	-84.13%	-847.19%	78.81%	201.39%	-13,006.14%	-37.17%	-	0.77%	78.97%
Invested Capital Q/Q Growth	19.71%	-14.82%	18.99%	2.16%	-2.94%	-8.36%	671.37%	23.41%	-	1.10%	-4.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	47.85%	51.22%	52.02%	45.99%	50.17%	52.35%	51.52%	51.34%	-	48.31%	48.13%
EBITDA Margin	18.29%	24.62%	24.61%	1.07%	-3.66%	18.01%	21.12%	-8.21%	-	21.44%	12.21%
Operating Margin	16.97%	23.39%	23.45%	-1.21%	-5.57%	15.80%	19.34%	-11.03%	-	17.76%	9.20%
EBIT Margin	16.96%	23.28%	23.38%	-1.11%	-5.44%	16.14%	19.41%	-10.29%	-	18.70%	9.47%
Profit (Net Income) Margin	14.42%	21.88%	19.85%	2.39%	-5.68%	13.49%	13.51%	-8.41%	-	14.07%	6.76%
Tax Burden Percent	73.93%	84.16%	76.25%	77.75%	184.75%	72.83%	77.13%	69.31%	-	80.05%	79.52%
Interest Burden Percent	115.04%	111.64%	111.33%	-278.35%	56.51%	114.76%	90.22%	117.95%	-	93.95%	89.81%
Effective Tax Rate	26.07%	15.84%	23.75%	22.25%	0.00%	27.17%	22.87%	0.00%	-	19.95%	20.48%
Return on Invested Capital (ROIC)	60.72%	100.25%	87.06%	-4.14%	-15.84%	51.86%	18.40%	-10.07%	-	24.56%	8.32%
ROIC Less NNEP Spread (ROIC-NNEP)	59.79%	99.22%	86.06%	-5.21%	-15.12%	51.15%	21.71%	-9.01%	-	24.84%	5.36%
Return on Net Nonoperating Assets (RNNOA)	-43.12%	-72.59%	-62.08%	3.79%	10.76%	-38.74%	-4.11%	2.03%	-	-4.88%	0.33%
Return on Equity (ROE)	17.60%	27.66%	24.98%	-0.35%	-5.08%	13.13%	14.30%	-8.03%	-	19.68%	8.65%
Cash Return on Invested Capital (CROIC)	31.64%	82.21%	65.70%	37.33%	34.21%	21.02%	-141.09%	-153.62%	-	-152.90%	-18.07%
Operating Return on Assets (OROA)	16.21%	22.41%	22.34%	-0.93%	-4.47%	12.24%	11.73%	-6.28%	-	15.83%	6.44%
Return on Assets (ROA)	13.78%	21.05%	18.97%	2.02%	-4.66%	10.23%	8.16%	-5.13%	-	11.90%	4.60%
Return on Common Equity (ROCE)	2.74%	5.61%	6.22%	-0.10%	-1.46%	4.22%	7.22%	-3.10%	-	7.79%	4.22%
Return on Equity Simple (ROE_SIMPLE)	0.00%	77.88%	70.15%	50.53%	0.00%	25.20%	0.00%	0.00%	-	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	44	70	72	-2.50	-13	38	110	-56	29	111	60
NOPAT Margin	12.54%	19.68%	17.88%	-0.94%	-3.90%	11.51%	14.92%	-7.72%	-	14.22%	7.32%
Net Nonoperating Expense Percent (NNEP)	0.93%	1.03%	1.00%	1.06%	-0.72%	0.71%	-3.30%	-1.06%	-	-0.28%	2.96%
Return On Investment Capital (ROIC_SIMPLE)	16.49%	-	-	-	-3.24%	8.25%	5.12%	-2.68%	1.52%	5.80%	3.20%
Cost of Revenue to Revenue	52.15%	48.78%	47.98%	54.01%	49.83%	47.65%	48.48%	48.66%	-	51.69%	51.87%
SG&A Expenses to Revenue	30.88%	27.84%	28.57%	47.20%	55.74%	36.55%	32.18%	28.35%	-	29.98%	29.05%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Operating Expenses to Revenue	30.88%	27.84%	28.57%	47.20%	55.74%	36.55%	32.18%	62.37%	-	30.55%	38.93%
Earnings before Interest and Taxes (EBIT)	59	83	94	-2.94	-18	53	144	-75	31	146	77
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	64	88	99	2.83	-12	59	156	-60	53	168	100
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	47.84	57.08	32.01	17.25	15.48	18.90	9.44	12.33	-	7.29	6.24
Price to Tangible Book Value (P/TBV)	53.13	61.75	34.07	18.39	19.58	23.36	0.00	0.00	-	0.00	0.00
Price to Revenue (P/Rev)	9.58	13.65	8.93	5.33	4.57	6.30	7.17	6.98	-	3.07	2.46
Price to Earnings (P/E)	69.40	89.65	55.16	42.92	57.61	108.73	124.47	571.46	-	79.63	114.75
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Earnings Yield	1.44%	1.12%	1.81%	2.33%	1.74%	0.92%	0.80%	0.18%	-	1.26%	0.87%
Enterprise Value to Invested Capital (EV/IC)	38.17	67.91	39.22	20.98	18.32	26.88	5.52	5.67	-	3.51	3.10
Enterprise Value to Revenue (EV/Rev)	9.64	13.61	8.88	5.27	4.52	6.20	7.83	7.78	-	3.70	3.05
Enterprise Value to EBITDA (EV/EBITDA)	44.96	59.93	37.58	28.59	34.57	55.34	63.34	115.10	-	34.67	35.57
Enterprise Value to EBIT (EV/EBIT)	47.90	63.50	39.69	31.06	39.32	65.34	74.33	159.21	-	44.67	51.53
Enterprise Value to NOPAT (EV/NOPAT)	61.33	80.23	50.18	39.55	52.88	96.87	107.73	245.53	-	55.97	63.50
Enterprise Value to Operating Cash Flow (EV/OCF)	89.93	66.44	48.94	37.58	23.30	35.57	55.39	29.83	-	33.35	18.24
Enterprise Value to Free Cash Flow (EV/FCFF)	147.43	84.36	65.81	62.23	53.67	132.87	0.00	0.00	-	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.01	0.42	0.30	-	0.22	0.23
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.01	0.41	0.29	-	0.22	0.23
Financial Leverage	-0.72	-0.73	-0.72	-0.73	-0.71	-0.76	-0.19	-0.23	-	-0.20	0.06
Leverage Ratio	1.41	1.42	1.42	1.42	1.43	1.44	1.66	1.66	-	1.64	1.77
Compound Leverage Factor	1.62	1.59	1.58	-3.96	0.81	1.66	1.49	1.95	-	1.54	1.59
Debt to Total Capital	0.02%	0.02%	0.02%	0.02%	0.02%	1.26%	29.80%	23.03%	-	18.18%	18.41%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.84%	0.65%	-	0.00%	0.00%
Long-Term Debt to Total Capital	0.02%	0.02%	0.02%	0.02%	0.02%	1.26%	28.96%	22.38%	-	18.18%	18.41%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Noncontrolling Interests to Total Capital	75.73%	70.90%	66.47%	66.05%	67.33%	64.22%	27.67%	45.72%	-	47.83%	48.52%
Common Equity to Total Capital	24.25%	29.08%	33.52%	33.94%	32.66%	34.52%	42.52%	31.25%	-	33.99%	33.07%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.11	4.31	6.17	-	2.11	2.56
Net Debt to EBITDA	-2.68	-2.74	-2.57	-3.57	-5.02	-6.46	1.32	-0.32	-	0.38	0.13
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.11	4.19	5.99	-	2.11	2.56
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.19	7.33	13.16	-	3.40	4.57
Net Debt to NOPAT	-3.65	-3.66	-3.43	-4.94	-7.68	-11.30	2.25	-0.68	-	0.61	0.24
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.19	7.12	12.79	-	3.40	4.57
Altman Z-Score	18.62	25.76	18.58	11.28	8.32	10.05	5.09	4.47	-	3.48	2.95
Noncontrolling Interest Sharing Ratio	84.43%	79.73%	75.10%	72.14%	71.29%	67.85%	49.50%	61.37%	-	60.41%	51.17%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.36	4.17	4.43	4.71	3.62	3.38	2.11	1.89	-	1.77	1.80
Quick Ratio	3.41	3.43	3.73	3.85	3.17	2.95	1.68	1.28	-	1.31	1.31
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-77	58	9.25	-69	-15	15	-1,916	-2,629	-2,734	-2,713	-570
Operating Cash Flow to CapEx	108.98%	2,975.67%	430.25%	304.76%	1,399.52%	1,488.58%	529.84%	3,207.36%	-	931.32%	1,304.01%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-136.48	-196.24	-	-306.48	-72.32
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	3.11	24.77	-	8.33	28.21
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	2.53	24.00	-	7.44	26.05
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.96	0.96	0.96	0.84	0.82	0.76	0.60	0.61	-	0.85	0.68
Accounts Receivable Turnover	10.67	7.60	6.47	6.47	5.97	5.82	4.42	5.89	-	5.45	4.97
Inventory Turnover	3.40	4.05	4.43	3.49	3.75	3.89	4.01	4.31	-	5.92	5.03
Fixed Asset Turnover	75.20	69.98	57.11	46.13	33.69	30.54	30.63	35.64	-	38.19	33.62
Accounts Payable Turnover	17.32	9.67	10.42	9.09	16.06	13.01	9.79	16.06	-	11.54	9.67
Days Sales Outstanding (DSO)	34.20	48.04	56.44	56.45	61.13	62.68	82.50	62.02	-	66.94	73.41
Days Inventory Outstanding (DIO)	107.27	90.14	82.37	104.65	97.39	93.81	90.93	84.76	-	61.66	72.54
Days Payable Outstanding (DPO)	21.07	37.74	35.04	40.15	22.73	28.05	37.28	22.73	-	31.64	37.76
Cash Conversion Cycle (CCC)	120.40	100.43	103.77	120.95	135.79	128.45	136.14	124.06	-	96.96	108.19
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	333	283	337	345	334	306	2,364	2,917	3,096	3,130	2,994
Invested Capital Turnover	4.84	5.09	4.87	4.40	4.06	4.51	1.23	1.30	-	1.73	1.14
Increase / (Decrease) in Invested Capital	121	12	63	67	1.70	23	2,027	2,573	2,762	2,824	630
Enterprise Value (EV)	12,700	19,248	13,228	7,230	6,125	8,239	13,054	16,544	-	10,997	9,280
Market Capitalization	12,631	19,303	13,307	7,309	6,191	8,375	11,957	14,829	-	9,118	7,485
Book Value per Share	$3.42	$1.45	$1.78	$1.82	$1.70	$1.88	$4.92	$4.66	$4.58	$4.87	$4.69
Tangible Book Value per Share	$3.08	$1.34	$1.68	$1.71	$1.35	$1.52	($2.94)	($4.30)	($4.38)	($4.10)	($4.30)
Total Capital	1,089	1,163	1,240	1,248	1,225	1,284	2,979	3,850	3,636	3,680	3,627
Total Debt	0.19	0.25	0.23	0.19	0.21	16	888	886	695	669	668
Total Long-Term Debt	0.19	0.25	0.23	0.19	0.21	16	863	861	670	669	668
Net Debt	-756	-879	-903	-904	-890	-961	273	-46	155	120	35
Capital Expenditures (CapEx)	4.75	4.53	9.21	4.24	5.41	6.94	8.25	10	11	7.92	17
Debt-free, Cash-free Net Working Capital (DFCFNWC)	172	120	169	170	69	16	141	5.12	217	264	199
Debt-free Net Working Capital (DFNWC)	928	1,000	1,072	1,074	959	994	756	938	757	813	832
Net Working Capital (NWC)	928	1,000	1,072	1,074	959	994	731	913	732	813	832
Net Nonoperating Expense (NNE)	-6.54	-7.80	-7.92	-8.85	5.93	-6.53	10	5.01	3.79	1.17	4.55
Net Nonoperating Obligations (NNO)	-756	-879	-903	-904	-890	-961	273	-46	155	120	35
Total Depreciation and Amortization (D&A)	4.64	4.76	4.95	5.77	5.92	6.14	13	15	22	21	22
Debt-free, Cash-free Net Working Capital to Revenue	13.07%	8.51%	11.33%	12.42%	5.08%	1.23%	8.47%	0.24%	-	8.88%	6.54%
Debt-free Net Working Capital to Revenue	70.43%	70.72%	71.95%	78.35%	70.75%	74.75%	45.39%	44.10%	-	27.38%	27.31%
Net Working Capital to Revenue	70.43%	70.72%	71.95%	78.35%	70.75%	74.75%	43.89%	42.93%	-	27.38%	27.31%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.17	$0.28	$0.29	$0.00	($0.10)	$0.15	$0.33	($0.27)	$0.06	$0.33	$0.14
Adjusted Weighted Average Basic Shares Outstanding	230.78M	232.78M	233.20M	233.70M	233.67M	235.19M	257.75M	257.78M	252.30M	257.01M	254.81M
Adjusted Diluted Earnings per Share	$0.17	$0.27	$0.28	$0.00	($0.10)	$0.15	$0.33	($0.27)	$0.06	$0.33	$0.14
Adjusted Weighted Average Diluted Shares Outstanding	236.96M	237.52M	237.60M	233.70M	237.40M	237.17M	260.21M	257.78M	254.91M	259.76M	256.93M
Adjusted Basic & Diluted Earnings per Share	$0.17	$0.00	$0.00	$0.00	($0.10)	$0.00	$0.00	$0.00	$0.06	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	232.79M	233.08M	233.07M	235.03M	235.13M	257.74M	257.95M	257.79M	256.98M	255.64M	253.04M
Normalized Net Operating Profit after Tax (NOPAT)	44	70	72	-2.50	-13	38	110	117	18	115	124
Normalized NOPAT Margin	12.54%	19.68%	17.88%	-0.94%	-3.90%	11.51%	14.92%	16.09%	-	14.67%	15.18%
Pre Tax Income Margin	19.51%	25.99%	26.03%	3.08%	-3.08%	18.52%	17.51%	-12.14%	-	17.57%	8.50%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	10.22	-5.57	-	16.54	9.81
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	7.85	-4.18	-	12.57	7.59
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	9.63	-6.34	-	15.64	7.65
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	7.27	-4.95	-	11.68	5.42
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	12.11%	10.45%	9.43%	12.86%	18.96%	24.57%	20.84%	46.93%	-	25.81%	40.36%
Augmented Payout Ratio	12.11%	10.45%	9.43%	12.86%	20.51%	28.33%	24.69%	52.92%	-	67.53%	177.35%

Financials Breakdown Chart

Key Financial Trends

Celsius Holdings (NASDAQ: CELH) has delivered explosive top-line growth over the last few years, but the latest quarter shows a more mixed picture. Revenue remains strong, profitability is positive, and operating cash flow turned back positive in Q1 2026 after a weak Q4 2025. At the same time, the balance sheet reflects significant debt, large intangible assets, and a substantial redeemable noncontrolling interest that complicates the capital structure.

Revenue in Q1 2026 rose to $782.6 million, up from $725.1 million in Q3 2025 and far above the company’s 2023 levels, showing the business is still scaling.
Gross profit in Q1 2026 reached $378.1 million, with gross margin around 48%, a healthy level for a consumer brand company.
Operating income in Q1 2026 was $139.0 million, and net income attributable to common shareholders was $85.1 million, indicating the company is still profitable on an operating basis.
Operating cash flow improved to $73.7 million in Q1 2026, after a -$119.4 million operating cash flow result in Q4 2025.
Cash and equivalents increased to $549.2 million at the end of Q1 2026, giving Celsius a solid liquidity cushion.
Compared with early 2024, the company has built a much larger revenue base and materially higher earnings power, showing long-term momentum despite recent volatility.
Quarterly revenue has been somewhat choppy: $739.3 million in Q2 2025, $725.1 million in Q3 2025, $721.6 million in Q4 2025, then $782.6 million in Q1 2026.
Selling, general & administrative expenses remain elevated at $234.6 million in Q1 2026, so expenses are still a key item to watch.
The balance sheet includes large noncurrent operating assets plus $919.8 million of goodwill and $1.39 billion of intangible assets, which means future impairment risk is something investors should keep in mind.
Long-term debt stood at $668.9 million in Q1 2026, down from $861.5 million in Q3 2025, but still material relative to the company’s cash balance.

One important trend is the company’s transition from the very strong cash generation seen in 2023 and early 2024 to a more volatile pattern in 2025. For example, Q3 2025 produced $331.8 million in operating cash flow, but Q4 2025 swung to a negative -$119.4 million before recovering in Q1 2026. That kind of variability suggests working-capital swings may be a major driver of results.

On the income statement, Celsius remains highly profitable relative to its revenue base, but recent quarters show some pressure from costs and restructuring. Q3 2025 was particularly weak, with an operating loss of -$80.0 million and a net loss attributable to common shareholders of -$70.7 million. Since then, profitability has rebounded sharply, which is encouraging, but investors should watch whether that improvement is sustained.

Overall, Celsius still looks like a growth story with strong revenue, solid margins, and meaningful liquidity. The main risks are leverage, large intangible assets, and uneven cash flow performance. If the company can keep revenue growing while holding expenses in check, the stock’s long-term case remains intact.

08/11/26 03:01 PM ETAI Generated. May Contain Errors.

Celsius Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Celsius' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Celsius' net income appears to be on an upward trend, with a most recent value of $108.00 million in 2025, falling from -$2.15 million in 2015. The previous period was $145.07 million in 2024. View Celsius' forecast to see where analysts expect Celsius to go next.

Celsius' total operating income in 2025 was $141.06 million, based on the following breakdown:

Total Gross Profit: $1.27 billion
Total Operating Expenses: $1.13 billion

Over the last 10 years, Celsius' total revenue changed from $17.22 million in 2015 to $2.52 billion in 2025, a change of 14,508.4%.

Celsius' total liabilities were at $2.18 billion at the end of 2025, a 301.5% increase from 2024, and a 33,298.3% increase since 2015.

In the past 10 years, Celsius' cash and equivalents has ranged from $7.74 million in 2018 to $890.19 million in 2024, and is currently $398.87 million as of their latest financial filing in 2025.

Over the last 10 years, Celsius' book value per share changed from 0.26 in 2015 to 4.58 in 2025, a change of 1,638.7%.

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Financial statements for NASDAQ:CELH last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Celsius (CELH) Financials

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Celsius (CELH) Financials

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Celsius Financials - Frequently Asked Questions

When does Celsius' fiscal year end?

How has Celsius' net income changed over the last 10 years?

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How has Celsius' revenue changed over the last 10 years?

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