Quarterly revenue of $725.1 million and US energy category market share of 20.8%¹ reflect portfolio power and growing consumer demand for premium functional beverages

Celsius Holdings’ retail sales increased 31%² year over year, driven by Alani Nu^®’s 114% surge in sales and double-digit growth for the CELSIUS^® brand

Strategic energy leadership role and broadened distribution partnership within PepsiCo, portfolio expansion, and strengthened leadership team position Celsius Holdings for next phase of growth

Celsius Holdings, Inc. (Nasdaq: CELH) (“Celsius Holdings” or “the company”) today reported third quarter 2025 financial results.

Summary of Third Quarter 2025 Financial Results

John Fieldly, Chairman and CEO of Celsius Holdings, said: “The third quarter marked another important step in Celsius Holdings’ transformation in a year full of growth catalysts. We strengthened our long-term partnership with PepsiCo and united CELSIUS, Alani Nu, and Rockstar Energy under one total energy portfolio. Combined, our brands grew nearly twice as fast as the U.S. energy drink category, driven by Alani Nu’s incredible momentum and improving trends for our core CELSIUS brand. Limited-time offerings across the portfolio also performed exceptionally well - support for our belief that innovation and consumer engagement continue to power our growth. With a broader portfolio, a deeper leadership bench, and the reach of PepsiCo’s system, we’re operating from a position of strength and staying focused on building sustainable growth for the long term.”

FINANCIAL AND MARKET HIGHLIGHTS FOR THE THIRD QUARTER OF 2025

For the three months ended Sept. 30, 2025, revenue totaled approximately $725.1 million, compared to $265.7 million for the prior-year period, representing 173% growth. The increase was attributable to 1) the acquisition of Alani Nu on April 1, 2025, as well as Rockstar Energy on Aug. 28, 2025; 2) lapping of an inventory optimization by our largest distributor which negatively impacted third quarter 2024 revenue; and 3) growth of the CELSIUS brand. Alani Nu achieved record sales of $332.0 million in the third quarter 2025 driven by strong limited-time-offer innovation performance and organic growth across the brand’s core flavors. CELSIUS brand revenue grew 44% in the third quarter compared to the same period last year.

The CELSIUS brand’s third quarter 2025 U.S. scanner growth rate was 13%, driven by favorable product mix and increases in total distribution points. A number of factors can cause the scanner data to vary from reported results such as promotions and incentives and the success of such programs, timing of acquisitions, and timing of customer orders which can vary from time to time based on various inventory builds for promotions, cash management programs, limited time offering programs, as well as a number of other factors. The difference between the 44% revenue growth rate of the CELSIUS brand versus the U.S. scanner growth rate of 13% was primarily driven by year-over-year net inventory movements across the company’s customer base including a net benefit relative to the inventory optimization program with our largest distributor in the prior year quarter as well as increased promotional activity and our international expansion.

International revenue totaled $23.1 million for the third quarter of 2025, representing a 24% increase compared to the same period in 2024, driven by growth in the Nordics and continued momentum in our expansion markets including the UK, Ireland, France, Australia, New Zealand and Benelux.

For the three months ended Sept. 30, 2025, gross profit increased by $250.1 million to $372.3 million from $122.2 million for the prior-year period. Gross profit margin was 51.3% for the three months ended Sept. 30, 2025, compared to 46.0% for the same period in 2024. Gross margin improvements were driven by lower net portfolio promotional spend, pack mix, favorable channel mix, and scale benefits on raw materials from higher volume, partially offset by tariffs and the impact of Alani Nu and Rockstar Energy’s margin profiles.

Selling, general and administrative expenses for the three months ended Sept. 30, 2025, increased $80.1 million, or 64%, to $205.6 million from $125.4 million for the year-ago period, representing 28.4% of revenue, primarily due to investments in our national “Live Fit Go” marketing initiative, and adjusted selling, general and administrative expenses represented 26.2% of revenue in the third quarter of 2025 excluding acquisition-related costs.³ During the quarter, the company recorded $246.7 million in distributor termination costs related to transferring a significant portion of Alani Nu’s distribution to the PepsiCo system in the U.S. and Canada, as well as acquisition and transition costs.

Diluted earnings per share for the third quarter of 2025 was $(0.27) compared to $0.00 for the prior-year period. Non-GAAP adjusted diluted earnings per share for the third quarter of 2025 was $0.42 compared to $0.00 for the prior-year period.

Alani Nu Distribution Agreement

PepsiCo has agreed to fund the termination fees associated with moving a significant portion of Alani Nu into the PepsiCo distribution system resulting in a net neutral cash position for the company. While the company’s cash position will not be affected by the termination process, generally accepted accounting principles require the company to record the estimated termination expenses in the income statement, while the payments received from PepsiCo to fund such terminations are required to be recorded on the balance sheet and amortized over the life of the distribution agreement resulting in a timing difference on the income statement.

Retail Performance

Retail sales of the Celsius Holdings portfolio (CELSIUS, Alani Nu and Rockstar Energy) in U.S. tracked channels (MULO+ w/C) increased 31% for the 13-week period ended Sept. 28, 2025, and 7% sequentially.⁴ Celsius Holdings held a 20.8% dollar share in the U.S. RTD energy category for the period, a 2.1 point year-over-year increase and 1.2 point sequential increase.

CELSIUS brand retail sales increased 13% year over year for the 13-week period ended Sept. 28, 2025, and 4% sequentially⁵. The CELSIUS brand held an 11.2% dollar share in the U.S. RTD energy category for the period, or 0.5 points less than the year-ago period. Sequential dollar share increased 0.3 points⁶.

Alani Nu brand retail sales increased 114% year over year for the 13-week period ended Sept. 28, 2025, and 15% sequentially,⁷ continuing its category outperformance driven by strong innovation, distribution and adoption by new consumers. The Alani Nu brand held a 7.2% dollar share in the U.S. RTD energy category for the period, a 3.3 point year-over-year increase and 0.9 point sequential increase⁸. Celsius Holdings acquired the Alani Nu brand on April 1, 2025.

Rockstar Energy brand retail sales decreased 9% year over year for the 13-week period ended Sept. 28, 2025, and 1% sequentially⁹. The Rockstar Energy brand held a 2.4% dollar share in the U.S. RTD energy category for the period, a 0.7 point decrease from the year-ago period. Celsius Holdings acquired the Rockstar Energy brand on Aug. 28, 2025.

New Leadership Appointments

Celsius Holdings has recently appointed Rishi Daing to the role of Chief Marketing Officer, Garrett Quigley to the role of President - Celsius International, and Ghire Shivprasad to the role of Chief Human Resources Officer. These appointments reflect the company’s continued focus on operational excellence and delivering sustainable, long-term growth.

2025 YEAR-TO-DATE FINANCIAL HIGHLIGHTS

For the nine months ended Sept. 30, 2025, revenue totaled approximately $1,793.6 million, compared to $1,023.4 million for the prior-year period, representing growth of 75.3%. The increase was primarily driven by $633.2 million of revenue from the Alani Nu brand in the second and third quarters of 2025.

International revenue totaled $70.6 million for the first nine months of 2025, representing a 30% increase compared to same period in 2024, driven by sustained growth in the Nordics and continued momentum in expansion markets, including the UK, Ireland, France, Australia, New Zealand and Benelux.

For the nine months ended Sept. 30, 2025, gross profit increased by $412.0 million to $925.5 million from $513.5 million for the nine months ended Sept. 30, 2024. Gross profit margin was 51.6% for the nine months ended Sept. 30, 2025, a 140-basis-point increase from 50.2% for the same period in 2024, driven by lower net portfolio promotional spend, favorable channel, price and pack mix which were partially offset by the impact of Alani Nu and Rockstar Energy’s margin profiles as well as purchase accounting which required the company to “step-up” the value of the opening balance sheet inventory of each acquisition.

Selling, general and administrative expenses for the nine months ended Sept. 30, 2025, increased $224.5 million, or 66%, to $563.8 million from $339.3 million for the prior-year period, representing 31.4% of revenue, primarily due to acquisition costs. Adjusted selling, general and administrative expenses represented 28.4% of revenue for the nine months ended Sept. 30, 2025, excluding acquisition-related costs¹⁰.

Diluted earnings per share for the first nine months of 2025 was $0.22 compared to $0.55 for the prior-year period. Non-GAAP adjusted diluted earnings per share for the first nine months of 2025 was $1.10 compared to $0.55 for the prior-year period.

As we transition a large portion of the Alani Nu business into our largest distributor, inventory movements will affect reported results, as the company primarily recognizes revenue upon delivery to its distributor partners and retailers. During this process, former distributors will wind down their inventory and return any remaining products while the new distributor will build Alani Nu inventory in advance of assuming distribution and will likely optimize its warehousing and distribution centers, which may affect sales and inventory levels amongst all of our brands.

Third Quarter 2025 Earnings Webcast

Management will host a webcast today, Thursday, Nov. 6, 2025, at 8:00 a.m. ET to discuss the company’s third quarter 2025 financial results with the investment community. Investors are invited to join the webcast accessible from https://ir.celsiusholdingsinc.com. Downloadable files, an audio replay and transcript will be made available on the Celsius Holdings investor relations website.

About Celsius Holdings, Inc.

Celsius Holdings, Inc. (Nasdaq: CELH) is a functional beverage company and the owner of energy drink brand CELSIUS^®, hydration brand CELSIUS HYDRATION^TM, health and wellness brand Alani Nu^® and Rockstar Energy^®. Born in fitness and pioneering the rapidly growing, better-for-you, functional beverage category, the company creates and markets leading functional beverage products. For more information, please visit www.celsiusholdingsinc.com.

Forward-Looking Statements

This press release contains statements by Celsius Holdings, Inc. (“Celsius Holdings”, “we”, “us”, “our” or the “Company”) that are not historical facts and are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our prospects, plans, business strategy and expected financial and operational results. You can identify these statements by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” “would”, ”could”, ”project”, ”plan”, “potential”, ”designed”, “seek”, “target”, variations of these terms, the negatives of such terms and similar expressions. These statements are based on certain assumptions that we have made in light of our experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate in these circumstances. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. You should not rely on forward-looking statements because our actual results may differ materially from those indicated by forward-looking statements as a result of a number of important factors. These factors include, but are not limited to: changes to our commercial agreements with PepsiCo, Inc.; management’s plans and objectives for international expansion and global operations; general economic and business conditions; our business strategy for expanding our presence in our industry; our expectations of revenue; operating costs and profitability; our expectations regarding our strategy and investments; our ability to successfully integrate business that we may acquire, including Alani Nutrition LLC (“Alani Nu”) and Rockstar Energy; our ability to achieve the benefits that we expect to realize as a result of our acquisitions, including Alani Nu and Rockstar Energy; the potential negative impact on our financial condition and results of operations if we fail to achieve the benefits that we expect to realize as a result of our business acquisitions, including Alani Nu and Rockstar Energy; liabilities of the businesses that we acquire that are not known to us; our expectations regarding our business, including market opportunity, consumer demand and our competitive advantage; anticipated trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations affecting our business; the Company’s ability to comply with the rules and regulations of the Securities and Exchange Commission (the “SEC”); and those other risks and uncertainties discussed in the reports we have filed with the SEC, such as our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date the statements were made. We do not undertake any obligation to update forward-looking information, except to the extent required by applicable law.

CELSIUS HOLDINGS, INC. - FINANCIAL TABLES

USE OF NON-GAAP MEASURES

Celsius defines Adjusted EBITDA as net income before net interest (expense) income, income tax expense (benefit), and depreciation and amortization expense, further adjusted by excluding stock-based compensation expense, foreign exchange gains or losses, distributor termination fees, legal settlement costs, reorganization costs, acquisition costs, penalties, and inventory step-up adjustment. Adjusted EBITDA Margin is the ratio between the company’s Adjusted EBITDA and net revenue, expressed as a percentage. Adjusted diluted earnings per share is GAAP diluted earnings per share net of add backs and deductions for distributor termination, legal settlement costs, reorganization costs, acquisitions and integration costs, penalties, and inventory step-up adjustment. Adjusted SG&A is GAAP SG&A adjusted for acquisition costs. SG&A as a % of revenue is the ratio between Adjusted SG&A and net revenue. Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted diluted earnings per share, Adjusted SG&A, and Adjusted SG&A as a percentage of revenue are non-GAAP financial measures.

Celsius uses Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted diluted earnings per share, Adjusted SG&A, and Adjusted SG&A as a percentage of revenue for operational and financial decision-making and believes these measures are useful in evaluating its performance because they eliminate certain items that management does not consider indicators of Celsius’ operating performance. Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted diluted earnings per share, Adjusted SG&A, and Adjusted SG&A as a percentage of revenue may also be used by many of Celsius’ investors, securities analysts, and other interested parties in evaluating its operational and financial performance across reporting periods. Celsius believes that the presentation of Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted diluted earnings per share, Adjusted SG&A, and Adjusted SG&A as a percentage of revenue, provides useful information to investors by allowing an understanding of measures that it uses internally for operational decision-making, budgeting and assessing operating performance.

Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted diluted earnings per share, Adjusted SG&A, and Adjusted SG&A as a percentage of revenue are not recognized terms under GAAP and should not be considered as a substitute for net income or any other financial measure presented in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for analysis of Celsius’ results as reported under GAAP. Celsius strongly encourages investors to review its financial statements and publicly filed reports in their entirety and not to rely on any single financial measure.

Because non-GAAP financial measures are not standardized, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted diluted earnings per share. Adjusted SG&A, and Adjusted SG&A as percentage of revenue as defined by Celsius, may not be comparable to similarly titled measures reported by other companies. It therefore may not be possible to compare Celsius’ use of these non-GAAP financial measures with those used by other companies.

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