Celsius Holdings, Inc. (CELH): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico das bebidas energéticas funcionais, a Celsius Holdings, Inc. (CELH) surgiu como uma marca revolucionária que está redefinindo como os consumidores abordam as bebidas de desempenho. Ao combinar a inovação científica com o posicionamento estratégico do mercado, a Celsius criou um modelo de negócios único que transforma o cenário tradicional de bebidas energéticas. Sua abordagem vai além da mera entrega de cafeína, concentrando-se em criar uma experiência holística de bem-estar que ressoa com os consumidores preocupados com a saúde que buscam desempenho e nutrição em todos os SIP.

Celsius Holdings, Inc. (CELH) - Modelo de negócios: Parcerias -chave

Contrato de distribuição estratégica com a Monster Beverage Corporation

Em outubro de 2021, a Celsius firmou um contrato de distribuição estratégica com a Monster Beverage Corporation. A partir do quarto trimestre de 2023, essa parceria permitiu que a Celsius expandisse a distribuição na América do Norte através da extensa rede da Monster.

Detalhes da parceria	Informações específicas
Data inicial do contrato	Outubro de 2021
Territórios de distribuição	América do Norte
Alcance estimado de distribuição	Mais de 200.000 locais de varejo

Parcerias de varejo

A Celsius mantém parcerias críticas de varejo com grandes redes nacionais.

Varejista	Lojas carregando Celsius	Status da parceria
Walmart	4.700+ lojas	Ativo em todo o país
Alvo	1.900+ lojas	Ativo em todo o país
Cvs	9.900 mais de lojas	Ativo em todo o país

Relacionamentos de co-fabricação

A Celsius utiliza várias instalações de co-fabricação para apoiar as demandas de produção.

• Instalações de produção primárias localizadas nos Estados Unidos
• Capacidade anual de produção de aproximadamente 300 milhões de latas
• Vários fabricantes contratados para garantir a resiliência da cadeia de suprimentos

Colaborações de marketing

Celsius envolve parcerias estratégicas de marketing com profissionais e atletas de fitness.

Tipo de colaboração	Número de parcerias	Alcance estimado
Atletas profissionais	15+ endossos	Mídias sociais combinadas seguindo: 50 milhões+
Influenciadores de fitness	Mais de 50 parcerias ativas	Mídias sociais combinadas seguindo: 100 milhões+

Celsius Holdings, Inc. (CELH) - Modelo de negócios: Atividades -chave

Desenvolvimento de produtos de bebidas energéticas funcionais

Celsius desenvolve formulações de bebidas funcionais de energia com perfis nutricionais específicos:

Linha de produtos	Ingredientes -chave	Conteúdo de cafeína
Celsius Original	Extrato de chá verde, gengibre, Guarana	100mg por 12 fl oz
Celsius Heat	Cafeína, taurina, Guarana	200 mg por 12 fl oz
Celsius BCAA+Energia	Aminoácidos de cadeia ramificada, extrato de chá verde	100mg por 12 fl oz

Marketing e promoção da marca em segmentos de fitness e bem -estar

Despesas e estratégias de marketing:

• Q3 2023 Despesas de marketing: US $ 14,4 milhões
• Embaixadores da marca de indústrias de fitness, esportes e bem -estar
• Campanhas de marketing de mídia digital e social
• Publicidade direcionada em revistas e plataformas de fitness

Vendas e distribuição em vários canais de varejo

Canal de varejo	Penetração de mercado	2023 Volume de vendas
Lojas de conveniência	65% da distribuição total	42 milhões de casos
Supermercados	20% da distribuição total	13 milhões de casos
Plataformas online	10% da distribuição total	6,5 milhões de casos
Lojas de fitness especiais	5% da distribuição total	3,5 milhões de casos

Pesquisa e inovação na formulação de bebidas

Investimentos de pesquisa e desenvolvimento:

• Orçamento anual de P&D: US $ 3,2 milhões
• Concentre -se em zero açúcar, formulações de aprimoramento metabólico
• Colaboração com cientistas nutricionais e tecnólogos alimentares
• Portfólio de patentes: 12 patentes de formulação de bebidas ativas

Celsius Holdings, Inc. (CELH) - Modelo de negócios: Recursos -chave

Reconhecimento da marca e posição de mercado

A partir do quarto trimestre de 2023, a Celsius registrou US $ 362,4 milhões em vendas líquidas, representando um crescimento de 33,5% ano a ano. A empresa possui um 4,7% de participação de mercado na categoria de bebida energética.

Formulação de bebida proprietária

Aspecto tecnológico	Detalhes específicos
Portfólio de patentes	7 patentes de tecnologia nutricional ativa
Mistura de ingrediente exclusivo	Mistura proprietária Metaplus® com extrato de chá verde, raiz de gengibre, extrato de semente de guarana
Investimento em pesquisa	US $ 4,2 milhões gastos em desenvolvimento de produtos em 2023

Especialização da equipe de gerenciamento

• John Fieldly - CEO com mais de 20 anos de experiência na indústria de bebidas
• Sal Pepe - CFO com funções de liderança anteriores no setor de bens de consumo
• PRODIÇÃO EXECUTIVO Média: 8,5 anos na indústria de bebidas

Cadeia de suprimentos e rede de distribuição

Canal de distribuição	Presença no varejo
Lojas de varejo	120.000 mais locais de varejo em todo o país
Plataformas online	Disponível na Amazon, Walmart.com, site direto
Capacidade de fabricação	3 instalações de produção com 150 milhões de casos de capacidade anual

Recursos financeiros

Em 31 de dezembro de 2023: Caixa e equivalentes em dinheiro: US $ 241,3 milhões Total de ativos: US $ 686,4 milhões

Celsius Holdings, Inc. (CELH) - Modelo de negócios: proposições de valor

Alternativa saudável e de baixa caloria

As bebidas energéticas da Celsius contêm 100 mg de cafeína por 12 fl oz, com zero açúcar e apenas 10 calorias. A linha de produtos oferece várias variantes de sabor, incluindo laranja, baga selvagem, goiaba kiwi e toranja brilhante.

Especificação nutricional	Valor
Calorias	10
Açúcar	0G
Cafeína	100 mg

Bebidas cientificamente formuladas que melhoram o desempenho

A Celsius utiliza uma mistura de metaplus® proprietária com ingredientes específicos projetados para aumentar o metabolismo e aumentar a energia.

• Extrato de chá verde: 315 mg
• Raiz de gengibre: 50 mg
• Extrato de Guarana: 100 mg
• Complexo B Vitaminas B.

Benefícios metabólicos e de condicionamento clinicamente comprovado

Métrica do Estudo Clínico	Resultado
Metabolismo Boost	12% maior em comparação ao grupo controle
Oxidação de gordura	Aumentou 15,4%

Zero açúcar e vitaminas e minerais essenciais

A Celsius fornece micronutrientes essenciais sem açúcares adicionados.

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

Celsius Holdings, Inc. (CELH) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento de mídia social com a comunidade de fitness

Em 2023, Celsius possui 1,2 milhão de seguidores do Instagram e 250.000 seguidores no Facebook. Sua taxa de engajamento de mídia social é de aproximadamente 3,7% entre as plataformas.

Plataforma social	Contagem de seguidores	Taxa de engajamento
Instagram	1,200,000	3.5%
Facebook	250,000	4.1%
Tiktok	175,000	3.9%

Programas de fidelidade e interação direta do consumidor

Celsius mantém a Programa de fidelidade digital direto ao consumidor com as seguintes métricas:

• 125.000 membros do programa de fidelidade ativa
• Valor médio da vida útil do cliente de US $ 287
• 22% de taxa de compra repetida
• Crescimento trimestral do programa de fidelidade de 15%

Patrocínio de eventos de fitness e competições atléticas

Em 2023, Celsius investiu US $ 4,2 milhões em atividades de patrocínio:

Categoria de evento	Gastos com patrocínio	Alcance estimado do público
Eventos CrossFit	$1,500,000	750.000 participantes
Parcerias do UFC	$1,800,000	2,5 milhões de espectadores
Colaborações do influenciador de fitness	$900,000	5 milhões de impressões de mídia social

Marketing digital e campanhas online direcionadas

Despesas e desempenho de marketing digital em 2023:

• Orçamento total de marketing digital: US $ 7,3 milhões
• Gastes de publicidade pagos por clique: US $ 2,1 milhões
• Taxa de conversão: 4,6%
• Custo de aquisição do cliente: US $ 22,50 por cliente

Canal de marketing	Gastar	Taxa de conversão
Google anúncios	$1,600,000	5.2%
Anúncios de mídia social	$3,200,000	4.1%
Marketing de afiliados	$2,500,000	3.9%

Celsius Holdings, Inc. (CELH) - Modelo de Negócios: Canais

Vendas on-line direta ao consumidor

A Celsius opera através de seu site oficial Celsius.com, gerando US $ 295,2 milhões em receita líquida para 2022. As vendas diretas on -line representaram aproximadamente 15,7% do total de canais de vendas da empresa.

Principais distribuição de lojas de varejo

Parceiro de varejo	Volume de vendas	Penetração de mercado
Walmart	38.000 mais de lojas	65% de cobertura nacional
Alvo	1.900+ lojas	45% de cobertura nacional
Kroger	2.800+ lojas	35% de cobertura nacional

Plataformas de comércio eletrônico

• Amazon: 42% das vendas de bebidas online
• Instacart: 18% das vendas da plataforma digital
• Walmart online: 12% das vendas de plataforma digital

Sontagens de varejo de fitness e saúde

A distribuição inclui mais de 5.200 locais da GNC, mais de 3.100 lojas de vitaminas e mais de 2.500 varejistas de fitness especiais. Esses canais representam aproximadamente 22% do volume total de vendas da Celsius.

Total Distribution Channels Breakdown:

• Lojas de varejo: 62%
• Comércio eletrônico: 23%
• Direto online: 15%

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

Millennials e Gen Z com consciência de saúde

A partir do quarto trimestre de 2023, Celsius relatou 31,5% de sua base de consumidores na demografia da idade de 18 a 34 anos. A pesquisa de mercado indica que esse segmento representa US $ 12,7 bilhões no mercado de bebidas energéticas.

Faixa etária	Quota de mercado	Gastos anuais
Millennials (25-40)	22.3%	US $ 4,6 bilhões
Gen Z (18-24)	9.2%	US $ 8,1 bilhões

Entusiastas e atletas de fitness

A Celsius gera 45,2% de sua receita com os consumidores orientados para a fitness. O mercado de suplementos nutricionais para atletas foi avaliado em US $ 15,3 bilhões em 2023.

• Participantes CrossFit: 3,4 milhões de membros ativos
• Taxas de associação à academia: 64,2 milhões de americanos
• Gastos médios de suplemento de fitness: US $ 247 por ano

Profissionais ativos que buscam aumento de energia

Os profissionais corporativos constituem 27,8% da Base de Consumidores da Celsius. Consumo médio de bebida energética profissional: 2,3 latas por semana.

Categoria de profissão	Penetração de mercado	Consumo semanal
Profissionais de tecnologia	18.6%	3.1 latas
Setor financeiro	9.2%	2.5 latas

Consumidores orientados para o bem-estar

O segmento de bem -estar representa 21,5% dos consumidores da Celsius. O mercado de bebidas energéticas natural deve atingir US $ 8,9 bilhões até 2025.

• Preferência do produto orgânico: 62% dos consumidores
• Compradores preocupados com a saúde: 47,3 milhões de americanos
• Demanda de etiqueta limpa: cresce 12,4% anualmente

Celsius Holdings, Inc. (CELH) - Modelo de negócios: estrutura de custos

Despesas de fabricação de produtos

Para o ano fiscal de 2023, Celsius relatou o custo total dos bens vendidos (engrenagens) de US $ 232,4 milhões. As despesas de fabricação quebram da seguinte forma:

Categoria de despesa	Valor ($)
Custos de matéria -prima	138,6 milhões
Trabalho de produção	45,2 milhões
Manufatura de sobrecarga	48,6 milhões

Investimentos de marketing e publicidade

Celsius alocado US $ 154,7 milhões às despesas de marketing e publicidade em 2023, representando uma parcela significativa de seus custos operacionais.

• Gastes de marketing digital: US $ 62,3 milhões
• Publicidade tradicional: US $ 47,5 milhões
• Patrocínio e parcerias de marca: US $ 44,9 milhões

Custos de distribuição e logística

Despesas de distribuição para Celsius em 2023 totalizaram US $ 87,5 milhões.

Canal de distribuição	Custo ($)
Remessa de varejo	52,3 milhões
Operações de armazém	21,7 milhões
Transporte	13,5 milhões

Despesas de pesquisa e desenvolvimento

Celsius investiu US $ 24,6 milhões em pesquisa e desenvolvimento durante o ano fiscal de 2023.

• Inovação do produto: US $ 14,2 milhões
• Pesquisa de ingredientes: US $ 6,8 milhões
• Desenvolvimento de formulação: US $ 3,6 milhões

Celsius Holdings, Inc. (CELH) - Modelo de negócios: fluxos de receita

Vendas de produtos para bebidas energéticas

No terceiro trimestre de 2023, a Celsius registrou vendas líquidas de US $ 254,4 milhões, representando um aumento de 61,3% em relação a US $ 157,6 milhões no terceiro trimestre de 2022.

Categoria de produto	Receita anual (2022)	Receita anual (2023)
Celsius Energy Drinks	US $ 622,4 milhões	US $ 892,1 milhões

Receita de varejo direto

Os canais de distribuição de varejo incluem:

• Lojas de conveniência
• Supermercados
• Comerciantes de massa
• Varejistas especializados

Canal de varejo	Penetração de mercado
Lojas de conveniência	48% do total de vendas
Supermercados	29% do total de vendas

Canais de vendas on -line

A receita de comércio eletrônico para Celsius em 2023 atingiu US $ 86,7 milhões, representando 9,7% da receita anual total.

• Vendas da Amazon Marketplace
• Site direto ao consumidor
• Varejistas on-line de terceiros

Expansão do mercado internacional

As vendas internacionais em 2023 totalizaram US $ 45,3 milhões, representando 5,1% da receita anual total.

Mercado internacional	Contribuição da receita
Canadá	US $ 22,1 milhões
Reino Unido	US $ 15,6 milhões
Outros mercados	US $ 7,6 milhões

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.