Celsius Holdings, Inc. (CELH): Lienzo de Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de las bebidas energéticas funcionales, Celsius Holdings, Inc. (CELH) se ha convertido en una marca revolucionaria que está redefiniendo cómo los consumidores abordan las bebidas de rendimiento. Al combinar la innovación científica con el posicionamiento estratégico del mercado, Celsius ha creado un modelo de negocio único que transforma el paisaje tradicional de bebidas energéticas. Su enfoque va más allá de la mera entrega de cafeína, centrándose en su lugar en crear una experiencia de bienestar holístico que resuene con los consumidores conscientes de la salud que buscan rendimiento y nutrición en cada SIP.

Celsius Holdings, Inc. (CELH) - Modelo de negocios: asociaciones clave

Acuerdo de distribución estratégica con Monster Beverage Corporation

En octubre de 2021, Celsius celebró un acuerdo de distribución estratégica con Monster Beverage Corporation. A partir del cuarto trimestre de 2023, esta asociación permitió a Celsius expandir la distribución en América del Norte a través de la extensa red de Monster.

Detalle de la asociación	Información específica
Fecha de acuerdo inicial	Octubre de 2021
Territorios de distribución	América del norte
Alcance de distribución estimado	Más de 200,000 ubicaciones minoristas

Asociaciones minoristas

Celsius mantiene asociaciones minoristas críticas con las principales cadenas nacionales.

Detallista	Tiendas que transportan Celsius	Estado de asociación
Walmart	Más de 4.700 tiendas	Activo en todo el país
Objetivo	1,900+ tiendas	Activo en todo el país
CVS	9,900+ tiendas	Activo en todo el país

Relaciones de fabricación de co-manufactura

Celsius utiliza múltiples instalaciones de fabricación de co-fabricantes para respaldar las demandas de producción.

• Instalaciones de producción primaria ubicadas en Estados Unidos
• Capacidad de producción anual de aproximadamente 300 millones de latas
• Fabricantes de contratos múltiples para garantizar la resiliencia de la cadena de suministro

Colaboraciones de marketing

Celsius involucra asociaciones estratégicas de marketing con profesionales de fitness y atletas.

Tipo de colaboración	Número de asociaciones	Alcance estimado
Atletas profesionales	Más de 15 endosos	Siguiendo las redes sociales combinadas: 50 millones+
Influenciadores de fitness	50+ asociaciones activas	A continuación de las redes sociales combinadas: 100 millones+

Celsius Holdings, Inc. (CELH) - Modelo de negocio: actividades clave

Desarrollo de productos de bebidas energéticas funcionales

Celsius desarrolla formulaciones de bebidas energéticas funcionales propietarias con perfiles nutricionales específicos:

Línea de productos	Ingredientes clave	Contenido de cafeína
Celsius original	Extracto de té verde, jengibre, guarana	100 mg por 12 fl oz
Celsius Heat	Cafeína, taurina, guarana	200 mg por 12 fl oz
Celsius BCAA+Energía	Aminoácidos de cadena ramificada, extracto de té verde	100 mg por 12 fl oz

Marketing y promoción de la marca en segmentos de fitness y bienestar

Gastos y estrategias de marketing:

• Q3 2023 Gastos de marketing: $ 14.4 millones
• Embajadores de la marca de las industrias de fitness, deportes y bienestar
• Campañas de marketing en redes digitales y sociales
• Publicidad dirigida en revistas y plataformas de fitness

Ventas y distribución en múltiples canales minoristas

Canal minorista	Penetración del mercado	Volumen de ventas 2023
Tiendas de conveniencia	65% de la distribución total	42 millones de casos
Tiendas de comestibles	20% de la distribución total	13 millones de casos
Plataformas en línea	10% de la distribución total	6.5 millones de casos
Tiendas de fitness especializados	5% de la distribución total	3.5 millones de casos

Investigación e innovación en la formulación de bebidas

Inversiones de investigación y desarrollo:

• Presupuesto anual de I + D: $ 3.2 millones
• Centrarse en cero azúcar, formulaciones de mejora metabólica
• Colaboración con científicos nutricionales y tecnólogos alimentarios
• Portafolio de patentes: 12 patentes de formulación de bebidas activas

Celsius Holdings, Inc. (CELH) - Modelo de negocio: recursos clave

Reconocimiento de marca y posición de mercado

A partir del cuarto trimestre de 2023, Celsius reportó $ 362.4 millones en ventas netas, lo que representa un crecimiento año tras año del 33.5%. La compañía posee un 4.7% de participación de mercado en la categoría de bebidas energéticas.

Formulación de bebidas propietaria

Aspecto tecnológico	Detalles específicos
Cartera de patentes	7 patentes de tecnología nutricional activa
Mezcla de ingredientes únicos	Metaplus® Mezcla patentada con extracto de té verde, raíz de jengibre, extracto de semilla de guarana
Inversión de investigación	$ 4.2 millones gastados en desarrollo de productos en 2023

Experiencia del equipo de gestión

• John Fieldly - CEO con más de 20 años de experiencia en la industria de bebidas
• Sal Pepe - CFO con roles de liderazgo anteriores en el sector de bienes de consumo
• Promedio de la tenencia ejecutiva: 8.5 años en la industria de bebidas

Red de cadena de suministro y distribución

Canal de distribución	Presencia minorista
Tiendas minoristas	Más de 120,000 ubicaciones minoristas en todo el país
Plataformas en línea	Disponible en Amazon, Walmart.com, sitio web directo
Capacidad de fabricación	3 instalaciones de producción con 150 millones de casos anuales

Recursos financieros

Al 31 de diciembre de 2023: Efectivo y equivalentes de efectivo: $ 241.3 millones Activos totales: $ 686.4 millones

Celsius Holdings, Inc. (CELH) - Modelo de negocio: propuestas de valor

Alternativa de bebida energética saludable y baja en calorías

Las bebidas energéticas de Celsius contienen 100 mg de cafeína por lata de 12 fl oz, con cero azúcar y solo 10 calorías. La línea de productos ofrece múltiples variantes de sabor que incluyen naranja, baya salvaje, guayaba kiwi y pomelo brillante.

Especificación nutricional	Valor
Calorías	10
Azúcar	0 g
Cafeína	100 mg

Bebidas formuladas por el rendimiento formuladas científicamente

Celsius utiliza una mezcla de Metaplus® patentada con ingredientes específicos diseñados para impulsar el metabolismo y mejorar la energía.

• Extracto de té verde: 315 mg
• Root de jengibre: 50 mg
• Extracto de guarana: 100 mg
• Complejo de vitaminas B

Beneficios metabólicos y de acondicionamiento físico clínicamente probados

Métrico de estudio clínico	Resultado
Impulso del metabolismo	12% más alto en comparación con el grupo de control
Oxidación grasa	Aumentó en un 15,4%

Cero azúcar y vitaminas y minerales esenciales

Celsius proporciona micronutrientes esenciales sin azúcares agregados.

• Vitamina C: 60 mg
• Vitamina B12: 6 mcg
• Biotina: 300 mcg
• Ácido pantoténico: 5 mg

Celsius Holdings, Inc. (CELH) - Modelo de negocios: relaciones con los clientes

Compromiso de las redes sociales con la comunidad de fitness

A partir de 2023, Celsius tiene 1.2 millones de seguidores de Instagram y 250,000 seguidores en Facebook. Su tasa de participación en las redes sociales es de aproximadamente 3.7% en todas las plataformas.

Plataforma social	Recuento de seguidores	Tasa de compromiso
Instagram	1,200,000	3.5%
Facebook	250,000	4.1%
Tiktok	175,000	3.9%

Programas de fidelización e interacción directa del consumidor

Celsius mantiene un Programa de lealtad digital directa al consumidor Con las siguientes métricas:

• 125,000 miembros del programa de fidelización activa
• Valor promedio de por vida del cliente de $ 287
• Tasa de compra repetida del 22%
• Crecimiento del programa de fidelización trimestral del 15%

Patrocinio de eventos de fitness y competiciones deportivas

En 2023, Celsius invirtió $ 4.2 millones en actividades de patrocinio:

Categoría de eventos	Gasto de patrocinio	Alcance de audiencia estimado
Crossfit Events	$1,500,000	750,000 participantes
Asociaciones de UFC	$1,800,000	2.5 millones de espectadores
Colaboraciones de influencers de fitness	$900,000	5 millones de impresiones en las redes sociales

Marketing digital y campañas en línea específicas

Gastos y rendimiento de marketing digital en 2023:

• Presupuesto total de marketing digital: $ 7.3 millones
• Pay-por-hacer clic en el gasto publicitario: $ 2.1 millones
• Tasa de conversión: 4.6%
• Costo de adquisición de clientes: $ 22.50 por cliente

Canal de marketing	Gastar	Tasa de conversión
Ads de Google	$1,600,000	5.2%
Anuncios de redes sociales	$3,200,000	4.1%
Marketing de afiliados	$2,500,000	3.9%

Celsius Holdings, Inc. (CELH) - Modelo de negocios: canales

Ventas en línea directas al consumidor

Celsius opera a través de su sitio web oficial Celsius.com, generando $ 295.2 millones en ingresos netos para 2022. Las ventas directas en línea representaron aproximadamente el 15.7% del total de canales de venta de la compañía.

Gran distribución de tiendas minoristas

Socio minorista	Volumen de ventas	Penetración del mercado
Walmart	Más de 38,000 tiendas	65% de cobertura a nivel nacional
Objetivo	1,900+ tiendas	45% de cobertura nacional
Kroger	Más de 2,800 tiendas	35% de cobertura a nivel nacional

Plataformas de comercio electrónico

• Amazon: 42% de las ventas de bebidas en línea
• Instacart: 18% de las ventas de plataforma digital
• Walmart en línea: 12% de las ventas de plataforma digital

Salidas minoristas de fitness y salud

La distribución incluye más de 5,200 ubicaciones de GNC, más de más de 3,100 tiendas de vitaminas y más de 2,500 minoristas especializados de acondicionamiento físico. Estos canales representan aproximadamente el 22% del volumen total de ventas de Celsius.

Desglose de los canales de distribución total:

• Tiendas minoristas: 62%
• Comercio electrónico: 23%
• Directo en línea: 15%

Celsius Holdings, Inc. (CELH) - Modelo de negocios: segmentos de clientes

Millennials conscientes de la salud y la generación Z

A partir del cuarto trimestre de 2023, Celsius informó el 31.5% de su base de consumidores en la demografía de la edad de 18-34. La investigación de mercado indica que este segmento representa $ 12.7 mil millones del mercado de bebidas energéticas.

Grupo de edad	Cuota de mercado	Gasto anual
Millennials (25-40)	22.3%	$ 4.6 mil millones
Gen Z (18-24)	9.2%	$ 8.1 mil millones

Entusiastas del fitness y atletas

Celsius genera el 45.2% de sus ingresos de los consumidores orientados a la aptitud física. El mercado de suplementos nutricionales para atletas se valoró en $ 15.3 mil millones en 2023.

• Participantes de CrossFit: 3.4 millones de miembros activos
• Tasas de membresía del gimnasio: 64.2 millones de estadounidenses
• Gasto promedio de suplementos de acondicionamiento físico: $ 247 por año

Profesionales activos que buscan impulso energético

Los profesionales corporativos constituyen el 27.8% de la base de consumidores de Celsius. Consumo promedio de bebidas energéticas profesionales: 2.3 latas por semana.

Categoría de profesión	Penetración del mercado	Consumo semanal
Profesionales de la tecnología	18.6%	3.1 latas
Sector financiero	9.2%	2.5 latas

Consumidores orientados al bienestar

El segmento de bienestar representa el 21.5% de los consumidores de Celsius. Se espera que el mercado de bebidas energéticas naturales alcance los $ 8.9 mil millones para 2025.

• Preferencia de producto orgánico: 62% de los consumidores
• Compradores conscientes de la salud: 47.3 millones de estadounidenses
• Demanda de etiqueta limpia: crece 12.4% anual

Celsius Holdings, Inc. (CELH) - Modelo de negocio: Estructura de costos

Gastos de fabricación de productos

Para el año fiscal 2023, Celsius informó un costo total de bienes vendidos (COGS) de $ 232.4 millones. Los gastos de fabricación se descomponen de la siguiente manera:

Categoría de gastos	Monto ($)
Costos de materia prima	138.6 millones
Trabajo de trabajo	45.2 millones
Sobrecarga de fabricación	48.6 millones

Inversiones de marketing y publicidad

Celsius asignado $ 154.7 millones a los gastos de marketing y publicidad en 2023, que representa una parte significativa de sus costos operativos.

• Gasto de marketing digital: $ 62.3 millones
• Publicidad tradicional: $ 47.5 millones
• Patrocinio y asociaciones de marca: $ 44.9 millones

Costos de distribución y logística

Los gastos de distribución para Celsius en 2023 totalizaron $ 87.5 millones.

Canal de distribución	Costo ($)
Envío minorista	52.3 millones
Operaciones de almacén	21.7 millones
Transporte	13.5 millones

Gastos de investigación y desarrollo

Celsius invirtió $ 24.6 millones en investigación y desarrollo durante el año fiscal 2023.

• Innovación de productos: $ 14.2 millones
• Investigación de ingredientes: $ 6.8 millones
• Desarrollo de formulación: $ 3.6 millones

Celsius Holdings, Inc. (CELH) - Modelo de negocio: flujos de ingresos

Venta de productos de bebidas energéticas

En el tercer trimestre de 2023, Celsius informó ventas netas de $ 254.4 millones, lo que representa un aumento del 61.3% de $ 157.6 millones en el tercer trimestre de 2022.

Categoría de productos	Ingresos anuales (2022)	Ingresos anuales (2023)
Celsius Energy Bebidas	$ 622.4 millones	$ 892.1 millones

Ingresos minoristas directos

Los canales de distribución minorista incluyen:

• Tiendas de conveniencia
• Tiendas de comestibles
• Comerciantes masivos
• Minoristas especializados

Canal minorista	Penetración del mercado
Tiendas de conveniencia	48% de las ventas totales
Tiendas de comestibles	29% de las ventas totales

Canales de ventas en línea

Los ingresos por comercio electrónico para Celsius en 2023 alcanzaron $ 86.7 millones, lo que representa el 9.7% de los ingresos anuales totales.

• Ventas del mercado de Amazon
• Sitio web directo al consumidor
• Minoristas en línea de terceros

Expansión del mercado internacional

Las ventas internacionales en 2023 totalizaron $ 45.3 millones, lo que representa el 5.1% de los ingresos anuales totales.

Mercado internacional	Contribución de ingresos
Canadá	$ 22.1 millones
Reino Unido	$ 15.6 millones
Otros mercados	$ 7.6 millones

Celsius Holdings, Inc. (CELH) - Canvas Business Model: Value Propositions

You're looking at the core reasons why consumers choose Celsius Holdings, Inc. over the competition right now, late in 2025. It's about more than just a drink; it's about functional benefits delivered through an expanding, accessible portfolio.

Functional Energy: Zero-Sugar, Fitness-Focused Fuel

The primary draw remains the functional promise: energy without the sugar crash. Celsius Holdings markets its core offering as a fitness-focused energy that claims to boost metabolism and burn calories. This positioning resonates strongly with the health-conscious segment.

The market validates this focus. The combined Celsius Holdings portfolio-CELSIUS, Alani Nu, and Rockstar Energy-captured a 20.8% dollar share in the U.S. ready-to-drink energy category for the 13-week period ending September 28, 2025. This represents a 2.1 point year-over-year increase in category share. The core CELSIUS brand itself held an 11.2% dollar share in that same U.S. RTD energy category.

Diversified Portfolio Across Demographics

Celsius Holdings has aggressively diversified its offerings through strategic acquisitions, moving beyond the original CELSIUS brand to target wider consumer bases. You now have a portfolio that spans energy, hydration, and wellness options, which is key to capturing market velocity.

The portfolio performance in the 13 weeks ending September 28, 2025, shows this diversification in action:

Portfolio Component	Q3 2025 Retail Sales Growth (YoY)	U.S. RTD Energy Category Dollar Share (13 Weeks Ended 9/28/25)	Q3 2025 Revenue (Millions USD)
Combined Portfolio	31%	20.8%	N/A (Total Revenue $725.1M)
Alani Nu Brand	114%	7.2%	$332.0
CELSIUS Brand	13%	11.2%	N/A (Brand Revenue Grew 44% YoY)
Rockstar Energy Brand	-9%	N/A	N/A

The Alani Nu brand, acquired on April 1, 2025, was a massive driver, achieving record sales of $332.0 million in the third quarter of 2025.

Better-for-You Alternative Appeal

The entire portfolio leans into the 'better-for-you' space, appealing to consumers actively avoiding traditional, high-sugar energy drinks. This is a non-negotiable for many modern buyers.

• Focus on zero sugar formulations across core lines.
• Portfolio retail sales growth of 31% in U.S. tracked channels year-over-year.
• Gross Margin improved to 51.3% in Q3 2025, up from 46.0% in Q3 2024.
• Year-to-date 2025 revenue reached approximately $1,793.6 million.

Flavor Innovation and Limited-Time Offers (LTOs)

Keeping the product line fresh is a clear value driver, especially for the acquired Alani Nu brand. You can't rely on the same core flavors forever.

The success of Alani Nu in Q3 2025 was explicitly attributed to its strong limited-time-offer innovation performance, which helped drive its 114% year-over-year retail sales increase for that period. This LTO strategy keeps consumer engagement high and drives incremental purchases.

Accessibility Through Distribution Power

The value proposition is meaningless if the product isn't on the shelf. Celsius Holdings leverages its expanded distribution network, heavily supported by the PepsiCo partnership, to ensure broad availability.

As of the second-quarter 2025 earnings release, Celsius Holdings' products were available in more than 240,000 tracked U.S. retail outlets. This scale allows the portfolio to reach approximately 43% of U.S. households. Furthermore, the international segment contributed $23.1 million in revenue in Q3 2025, showing growth in markets like the Nordics. The Alani Nu direct store delivery transition into the PepsiCo system exceeded 80% of the U.S. business as of December 1, 2025.

Celsius Holdings, Inc. (CELH) - Canvas Business Model: Customer Relationships

You're looking at how Celsius Holdings, Inc. connects with the people buying its functional beverages, which is a mix of heavy in-store presence and digital buzz as of late 2025.

Automated Retail Presence: High focus on in-store placement and availability via the DSD model.

The core relationship here is transactional, driven by availability. Celsius Holdings, Inc. relies heavily on its distribution network to ensure its products are always on the shelf. By the second quarter of 2025, the company's portfolio reached about 43% of U.S. households. This physical reach is supported by strong growth in distribution points; total points of distribution and items per store both rose roughly 23% in Q2 2025. The momentum continued into the third quarter, with U.S. retail sales increasing 31% year-over-year. The transition of the newly acquired Alani Nu brand into the PepsiCo Direct Store Delivery (DSD) network, scheduled for December 1, 2025, is a critical step to further automate and strengthen this in-store relationship.

The scale of this physical presence is substantial:

• Portfolio U.S. Household Penetration (Q2 2025): 43%
• CELSIUS Brand Household Penetration (Q2 2025): 34%
• Alani Nu Household Penetration (Q2 2025): 22%
• U.S. Retail Sales Growth Year-over-Year (Q3 2025): 31%

Community Building: Engaging with fitness enthusiasts through sponsored events and athlete partnerships.

Celsius Holdings, Inc. builds community by aligning with high-energy, active lifestyles. This is evident in major sports sponsorships and the cultivation of its roster of partners. The beverage serves as the official energy drink of Major League Soccer through the 2026 season. Furthermore, the company has actively expanded its Name, Image, and Likeness (NIL) roster to specifically engage with Gen Z consumers. The combined portfolio, which includes CELSIUS, Alani Nu, and Rockstar Energy, has surpassed $5 billion in annual U.S. retail sales, showing the breadth of this community engagement.

Social Media Engagement: Direct, high-touch interaction with consumers on platforms like Instagram and TikTok.

Digital interaction is a key driver for brand discovery and direct communication. For the Alani Nu brand, social media traction has been explosive; the associated hashtags saw the number of posts double from 60 million in December 2024 to over 120 million by June 2025. Over that same six-month period, Alani Nu added over 325,000 followers on TikTok and attracted more than 160,000 new followers on Instagram. This high-touch digital activity is crucial, especially since TikTok holds an average organic engagement rate of 2.5% per post, confirming its dominance for bite-size content. The company's core CELSIUS brand achieved a U.S. scanner growth rate of 13% in Q3 2025, which is supported by this digital energy.

Loyalty Programs: Driving repeat purchases through retailer-specific promotions and digital offers.

Repeat purchasing behavior is a strong indicator of customer satisfaction and loyalty. For the Alani Nu brand, repeat purchase rates were reported at over 65% as of the second quarter of 2025. While specific details on a universal Celsius Holdings, Inc. loyalty program are not always public, the success of limited-time offers (LTOs) for Alani Nu, such as Sherbet Swirl and Cotton Candy, drove incremental sales, acting as a form of short-term loyalty incentive. The company's overall Q3 2025 gross margin improved to 51.3%, partially due to lower net portfolio promotional spend compared to the prior year.

Here is a snapshot of key customer-facing metrics as of mid-to-late 2025:

Metric Category	Specific Data Point	Value / Amount	Reporting Period / Context
Retail Reach	Total Tracked U.S. Retail Outlets	240,000+	Q2 2025
Retail Performance	U.S. Retail Sales Growth (YoY)	31%	Q3 2025
Brand Loyalty	Alani Nu Repeat Purchase Rate	65%+	Q2 2025
Social Engagement (Alani Nu)	Instagram Follower Growth (6 Months)	160,000+	Through June 2025
Market Position	U.S. Energy Drink Portfolio Dollar Share	20.8%	Q3 2025
Brand Growth (Core)	CELSIUS Brand U.S. Scanner Growth Rate	13%	Q3 2025

Mass Market Appeal: Moving from niche fitness to broad consumer adoption, which is defintely a challenge.

Celsius Holdings, Inc. is actively managing the transition from a niche fitness product to a mainstream functional beverage. The company's Q3 2025 revenue reached approximately $725.1 million, a 173% year-over-year increase, largely driven by acquisitions, but the core CELSIUS brand revenue still grew 44%. The marketing strategy, exemplified by the "Live. Fit. Go." campaign, explicitly shows an evolution beyond just athletes and gym-goers to include people balancing family, work, and life responsibilities. The challenge lies in maintaining the premium, functional positioning while scaling to capture the mass market. The company's combined portfolio is now ranked as the #3 energy drink portfolio in the U.S..

Celsius Holdings, Inc. (CELH) - Canvas Business Model: Channels

You're looking at how Celsius Holdings, Inc. gets its product-CELSIUS, Alani Nu, and Rockstar Energy-into the hands of consumers, which is a massive undertaking given the scale they've reached. The channel strategy is now heavily focused on leveraging major partnerships to drive velocity in high-volume retail environments.

PepsiCo DSD Network: Primary channel for U.S. and Canada distribution, covering convenience and grocery.

The relationship with PepsiCo is the backbone of the current North American go-to-market strategy. This Direct Store Delivery (DSD) network is key for ensuring shelf presence in convenience stores and grocery chains, which are critical for impulse buys in the functional beverage space.

The integration of the newly acquired Alani Nu brand into this system is a major focus for late 2025. As of December 1, 2025, the transition of Alani Nu's DSD business into the PepsiCo distribution system had exceeded 80% of the U.S. business. The full integration plan for Alani Nu is targeted for completion by the end of the first quarter of 2026, with the Rockstar integration following in the first half of 2026. This shift required a significant financial event in Q3 2025, where Celsius Holdings recorded a $246.7 million PepsiCo-funded distributor termination charge, though this is expected to yield growth benefits in early 2026 as retailers complete resets.

Traditional Retail: Convenience stores, grocery chains, and mass merchants.

This is where the bulk of the sales volume is realized, especially after the portfolio expansion. For the 13-week period ended September 28, 2025, the combined Celsius Holdings portfolio (CELSIUS, Alani Nu, and Rockstar Energy) saw its retail sales in U.S. tracked channels (MULO+ w/C) increase by 31% year-over-year. This performance helped the total portfolio reach a 20.8% dollar share in the U.S. ready-to-drink energy category.

Looking at the individual brands within this channel during that same Q3 2025 period:

• Alani Nu retail sales surged by 114% year-over-year.
• The core CELSIUS brand retail sales grew 13% year-over-year.
• The newly acquired Rockstar Energy brand retail sales decreased by 9% year-over-year.

The CELSIUS brand itself held an 11.2% dollar share in the U.S. RTD energy category, while Alani Nu commanded a 7.2% share for the quarter.

Fitness/Specialty: Gyms, health food stores, and vitamin shops (original core channel).

While the focus has clearly shifted to mass retail scale, the specialty and fitness channels remain important for brand positioning and initial consumer adoption, especially internationally. For instance, when Celsius began selling in the U.K. and Ireland in Q2 2025, it was solely through the fitness channel and in select gyms. Although specific revenue breakdowns for this channel in late 2025 aren't explicitly separated from the broader retail scanner data, the overall portfolio growth reflects continued success in reaching health-conscious consumers where they train.

E-commerce: Direct-to-consumer (DTC) and third-party platforms like Amazon.

E-commerce provides a direct line to the consumer and supports brand awareness. While the primary growth story is tied to physical distribution, one earlier report noted that Amazon sales rose by 41% in the prior quarter, showing that digital shelf space is still a meaningful contributor to the overall sales mix, even if it's not the largest segment.

Non-Traditional Outlets: Expanding into food service, military, and vending channels.

Celsius Holdings is actively pushing into areas outside of traditional grocery and convenience to capture incremental volume. Foodservice distribution, in particular, shows clear progress. In the second quarter of 2025, foodservice volume increased by 9.8%. This channel is now significant enough to represent about 12% of Celsius's North America sales that flow through PepsiCo. This expansion into venues like restaurants and cafes offers a different type of high-visibility placement.

Here's a quick look at the reported performance across the key revenue-generating segments for Q3 2025:

Metric	Q3 2025 Value (Millions USD)	Year-over-Year Change
Total Revenue	$725.1	173%
North America Revenue	$702.0	184%
International Revenue	$23.1	24%
U.S. Portfolio Retail Sales Growth	N/A	31%
Foodservice Sales Contribution (as % of NA sales to PepsiCo)	N/A	12%

The international segment is also growing its footprint, with Q3 2025 international revenue at $23.1 million, marking a 24% increase year-over-year. For the first nine months of 2025, international revenue reached $70.6 million, up 30% compared to the same period in 2024.

Celsius Holdings, Inc. (CELH) - Canvas Business Model: Customer Segments

You're looking at the customer base for Celsius Holdings, Inc. as of late 2025, which is now a multi-brand platform following major acquisitions. The segments are distinct but overlap, driven by the overarching consumer shift toward zero-sugar, functional beverages.

Core Fitness Enthusiasts: Original Base Seeking Pre-Workout and Performance Benefits

This segment remains central to the flagship CELSIUS brand, which is positioned for performance and everyday energy. The brand's velocity and distribution gains reflect sustained demand from this core group, even as the portfolio broadens.

• CELSIUS brand retail sales increased 13% year over year for the 13-week period ended September 28, 2025.
• CELSIUS brand revenue grew 44% in the third quarter of 2025 compared to the same period last year.
• The CELSIUS brand held a 11.2% dollar share in the U.S. RTD energy category for the 13-week period ended September 28, 2025.
• CELSIUS market share in Sweden was 13.5% for the first quarter of 2025.

Health-Conscious Millennials/Gen Z: Consumers Prioritizing Zero-Sugar and Functional Ingredients

This group fuels the category-wide trend toward better-for-you options. Both brands in the portfolio cater directly to this demand for functional benefits without sugar.

• Sugar-free beverages drove 86% of U.S. energy drink category growth in the first quarter of 2025.
• The overall Celsius Holdings portfolio reached a 20.8% dollar share in the U.S. RTD energy category for the 13-week period ended September 28, 2025.
• The portfolio reached about 43% of U.S. households as of the second quarter of 2025.

Young Female Consumers: Primary Target for the Acquired Alani Nu Brand

The acquisition of Alani Nu provided Celsius Holdings immediate, scaled access to a demographic traditionally underserved by legacy energy brands. This brand is explicitly female-centric and lifestyle-oriented.

Here's the quick math on the Alani Nu contribution to the overall business in the first half of 2025:

Metric	Value (2Q 2025)	Value (1H 2025)
Revenue Contribution (Millions)	$301.2 million	Not explicitly stated for 1H, but Q2 is a major driver.
Retail Sales Growth (YoY)	Not specified for 2Q 2025 retail sales growth.	Retail sales grew 72.4% year-over-year, surpassing $1 billion in trailing 52-week retail sales ending April 13, 2025.
U.S. Dollar Share (Q1 2025)	5.3%	Not explicitly stated for 1H.
Household Penetration (Q2 2025 Context)	22%	N/A
Social Media Followers (Percentage Female)	N/A	More than 90%

Broad Energy Drink Users: Capturing Market Share from Traditional Energy Drink Consumers

The combined portfolio is now the third-largest in the U.S. energy category, indicating a successful migration of consumers from established competitors. The portfolio's growth rate significantly outpaced the category in Q2 2025.

• Total Celsius Holdings retail sales grew 28.9% year-over-year in Q2 2025, nearly double the category growth rate of 15.2%.
• The combined portfolio captured 16.2% of the U.S. energy drink dollar share in Q1 2025 on a pro forma basis.
• The combined portfolio held a 17.3% dollar share in the U.S. RTD energy category for the 13-week period ended June 29, 2025.
• The company's portfolio is expected to drive $2 billion in sales following the acquisition.

International Consumers: Growing Base in the Nordics, UK, France, and Australia

International expansion is a deliberate growth vector, showing consistent triple-digit percentage growth in revenue across key markets.

International Revenue Performance (Millions USD):

Period Ended	Revenue Amount	Year-over-Year Growth
Q1 2025	$22.8 million	41%
2Q 2025	$24.8 million	27%
1H 2025	$47.5 million	33%
3Q 2025	$23.1 million	24%
9M 2025	$70.6 million	30%

Key international markets showing momentum include the Nordics, UK, Ireland, France, and Australia. CELSIUS held a 6% market share in Finland for Q1 2025.

Celsius Holdings, Inc. (CELH) - Canvas Business Model: Cost Structure

You're looking at the cost side of Celsius Holdings, Inc. as they integrate two major acquisitions and shift distribution networks. It's a complex picture where top-line growth meets significant one-time charges. Here's the quick math on what's driving expenses as of late 2025.

Cost of Goods Sold (COGS)

The cost of making and packaging the drinks, which includes raw materials and co-packing fees, is managed to maintain a strong margin, though the newer acquisitions initially pressured this. For the three months ended September 30, 2025, the Gross Margin stood at 51.3%. This margin reflects scale benefits on raw materials from higher volume, which helped offset the impact of Alani Nu and Rockstar Energy's initial margin profiles, plus tariffs.

Selling, General, and Administrative (SG&A)

Marketing and administrative spending is high to fuel the growth you're seeing across the portfolio. For the three months ended September 30, 2025, total Selling, General, and Administrative expenses reached $205.6 million, up 64% from $125.4 million in the prior-year period. This represented 28.4% of revenue for the quarter. However, when you exclude acquisition-related costs, the adjusted SG&A was 26.2% of revenue in the third quarter of 2025. The company is investing heavily in its national "Live Fit Go" marketing initiative.

Distribution Costs

A major cost event in Q3 2025 involved fees paid to distributors, specifically related to the strategic shift with PepsiCo. Celsius Holdings recorded $246.7 million in distributor termination costs. This charge was tied directly to transferring a significant portion of Alani Nu's distribution to the PepsiCo system across the U.S. and Canada. PepsiCo has agreed to fund these termination fees, which helps maintain Celsius Holdings' cash position, though the expense hits the income statement due to accounting standards.

Acquisition-Related Costs

The integration of Alani Nu (acquired April 1, 2025) and Rockstar Energy (acquired August 28, 2025) resulted in substantial one-time expenses that heavily impacted GAAP profitability. The $246.7 million in distributor termination costs is a primary component of these charges. The result was a GAAP net loss of $(61.0) million for the third quarter of 2025, compared to a net income of $6.4 million in Q3 2024. This GAAP net loss contrasts sharply with the Non-GAAP adjusted diluted earnings per share of $0.42 for the same period.

International Expansion Costs

Investment in new market entry is evident in the international revenue growth, even if specific cost figures aren't broken out separately from COGS or SG&A. International revenue for Q3 2025 totaled $23.1 million, marking a 24% increase compared to the prior-year period. The company is seeing momentum in expansion markets including the U.K., Ireland, France, Australia, and New Zealand. The core CELSIUS brand's overall revenue growth, which was 44%, was also driven by international expansion.

You can see the key financial impacts summarized here:

Cost/Metric Category	Financial Number/Rate (Q3 2025)
Gross Margin	51.3%
Total SG&A Expense	$205.6 million
SG&A as % of Revenue (GAAP)	28.4%
SG&A as % of Revenue (Adjusted)	26.2%
PepsiCo Distribution Termination Costs	$246.7 million
GAAP Net Income (Loss)	$(61.0) million
International Revenue	$23.1 million

The company is clearly spending to secure its distribution future and absorb new brands. Still, the operational leverage is visible in the adjusted profitability metrics. Finance: draft 13-week cash view by Friday.

Celsius Holdings, Inc. (CELH) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers driving the top line for Celsius Holdings, Inc. as of late 2025. The revenue streams are dominated by a massive North American presence, heavily bolstered by recent strategic acquisitions.

The primary revenue driver remains the core market, but the contribution from acquired brands is now a major component of the overall financial picture. Here's the quick math on the major segments based on year-to-date (YTD) performance through the third quarter of 2025.

Revenue Stream Segment	Period Ending Q3 2025	Amount (Millions USD)
North American Sales	Year-to-Date	$1,723.0
International Sales	Year-to-Date	$70.6
Core CELSIUS Brand Sales (Q3 YoY Growth)	Q3 2025 vs. Q3 2024	44% Growth
Alani Nu Brand Sales	Q3 2025 Only	$332.0
Analyst Projected Full-Year 2025 Revenue	Full Year Estimate	$2.51 billion

The total consolidated revenue for the nine months ended September 30, 2025, reached approximately $1,793.6 million, a 75% growth compared to the prior-year period. The third quarter alone saw total revenue hit $725.1 million, marking a 173% year-over-year increase.

You can see the breakdown of the Q3 2025 performance and brand momentum:

• North American Sales for Q3 2025 totaled $702.0 million.
• International revenue for Q3 2025 was $23.1 million.
• The core CELSIUS brand revenue grew 44% in Q3 2025 year-over-year.
• The Alani Nu brand achieved record sales of $332.0 million in Q3 2025.
• The CELSIUS brand's U.S. scanner growth rate for Q3 2025 was 13%.
• Alani Nu retail sales grew 114% in the 13-week period ending September 28, 2025.

The growth is clearly portfolio-driven, with Alani Nu accounting for a significant portion of the year-to-date increase. For instance, Alani Nu generated $633.2 million in sales across the second and third quarters of 2025 combined. Still, the core CELSIUS brand shows organic strength, with its revenue up 12% through the first three quarters of 2025.

Finance: draft 13-week cash view by Friday.