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• Red Bull for the health and fitness market.
• Gatorade for energy and metabolism.

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• CELSIUS Originals: A line of various carbonated and non-carbonated functional energy drinks.
• CELSIUS HEAT: Carbonated dietary supplement flavors designed as functional energy drinks.
• CELSIUS BCAA+ENERGY: A functional energy drink containing branched-chain amino acids to aid muscle recovery.
• CELSIUS On-the-Go: A powdered form of the active ingredients found in their functional energy drinks, sold in individual packets and canisters.
• CELSIUS Sweetened: A variety of non-carbonated functional energy drinks with different flavor profiles.

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John Fieldly, Chairman of the Board of Directors and Chief Executive Officer

John Fieldly joined Celsius as Chief Financial Officer in January 2012, before becoming interim CEO and CFO from 2017 to 2018. He was appointed Chief Executive Officer in April 2018 and has also served as Chairman since August 2021. Prior to his tenure at Celsius, he held leadership roles at Oragenics, Lebhar-Friedman, and Eckerd Drugs. Under his leadership, Celsius has achieved significant growth, including international expansion and a key distribution partnership with PepsiCo, surpassing $1.3 billion in annual revenue in 2023.

Jarrod Langhans, Chief Financial Officer

Jarrod Langhans assumed the role of Chief Financial Officer at Celsius in April 2022. He is a Certified Public Accountant (CPA) with a master's degree in accounting from the University of Florida. His experience includes serving as CFO of the European and Israel operating segments at Primo Water (formerly Cott) and holding various finance leadership positions in public accounting firms CBIZ MHM and Cherry Bekaert. He has extensive experience in financial reporting, planning and analysis, mergers and acquisitions, investor relations, and capital markets.

Eric Hanson, President & Chief Operating Officer

Eric Hanson joined Celsius Holdings, Inc. in March 2025 as President and Chief Operating Officer. He brings over 27 years of experience in the food and beverage industry, spanning sales, general management, commercial planning, and partnership management. Before joining Celsius, he held various senior leadership positions at PepsiCo from 1997 to 2025, including Senior Vice President - Strategic Partnerships and Senior Vice President, Energy Drinks.

Paul Storey, Chief Supply Chain Officer

Paul Storey serves as the Chief Supply Chain Officer for Celsius Holdings, Inc., a role he was appointed to in March 2024 after previously serving as Senior Vice President, Operations. He joined the company in 2021 and is responsible for global production and operational strategies. With over 30 years of experience in the beverage industry, his background includes four years as Vice-President of Operations for Monster Energy and eleven years as Head of Operations for Rockstar Energy.

Toby David, Chief of Staff

Toby David was named Chief of Staff at Celsius Holdings, Inc. in March 2024. He has been with Celsius since 2013, holding multiple leadership roles across various departments and functions within the company. In his current capacity, he is responsible for managing day-to-day operations, uniting leaders for strategic planning, overseeing portfolio commercialization, and managing special company-wide initiatives, investor relations, and corporate communications.

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The key risks to Celsius Holdings, Inc. (CELH) primarily revolve around its distribution reliance, intense market competition, and potential regulatory changes.

1. Reliance on PepsiCo for Distribution: Celsius Holdings is heavily dependent on PepsiCo's extensive distribution network for a significant portion of its sales, with a considerable percentage of its revenue and receivables tied to this partnership. Any disruption, strategic shift, or inventory optimization initiatives by PepsiCo can directly impact Celsius's revenue and growth trajectory. For instance, PepsiCo's inventory adjustments have previously led to revenue slowdowns and volatility for Celsius. The ongoing integration of newly acquired brands, such as Alani Nu, into PepsiCo's distribution system also presents transition risks and potential sales disruptions.
2. Intense Market Competition and Shifting Consumer Preferences: The energy drink sector is characterized by fierce competition from established giants like Monster Beverage Corporation and Red Bull, as well as a growing number of niche brands and new entrants. This competitive environment can lead to aggressive pricing strategies by rivals and require continuous innovation from Celsius to maintain and expand its market share. Shifts in consumer preferences, potentially towards different "better-for-you" alternatives or away from energy drinks generally, could impact demand for Celsius products. There is also a risk of brand fatigue and a deceleration in organic sales growth for the core Celsius brand itself, as evidenced by some recent reports showing a slight contraction in market share and slowing sales velocity.
3. Regulatory Risks: The energy drink industry operates under strict regulations concerning ingredients, labeling, and marketing practices. Any changes in government regulations or negative findings related to the health effects of functional energy drinks could adversely affect Celsius Holdings' operations, product formulations, and overall brand reputation.

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Celsius Holdings, Inc. (CELH) operates within the significant and growing functional beverage and energy drink markets globally and in North America.

Global Market Sizes

• The global functional beverages market was valued at approximately USD 208.13 billion in 2024 and is projected to grow to around USD 488.22 billion by 2034, demonstrating a compound annual growth rate (CAGR) of roughly 8.9% between 2025 and 2034. Other estimates place the global functional beverages market at USD 168.32 billion in 2025, expected to reach USD 314.04 billion by 2035 with a CAGR of 6.44% from 2026 to 2035.
• The global energy drinks market was valued at USD 133.90 billion in 2024 and is expected to reach USD 350.96 billion by 2032, growing at a CAGR of 12.80% during that period. Another estimate valued the global energy drinks market at USD 107.20 billion in 2024, projected to grow to USD 223.39 billion by 2033 with an 8.5% CAGR.

North American Market Sizes

• The North America functional beverages market was estimated at USD 60.0 billion in 2024 and is projected to grow to USD 90.0 billion by 2035, exhibiting a CAGR of 3.7% from 2025 to 2035. This market was also reported to be USD 56,285.4 million in 2024 and is expected to reach USD 91,510.0 million by 2030, with a CAGR of 8.5% from 2025 to 2030.
• The North America energy drinks market generated a revenue of USD 27,533.3 million in 2023 and is expected to grow at a CAGR of 7.3% from 2024 to 2030, reaching a projected revenue of USD 45,227.7 million by 2030. In 2024, North America held the largest revenue share of 38.5% in the global energy drinks market. The North America energy drinks market size is estimated at USD 21.93 billion in 2025 and is expected to reach USD 25.58 billion by 2030, with a CAGR of 3.13%.

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Here are the expected drivers of future revenue growth for Celsius Holdings, Inc. (CELH) over the next 2-3 years:

1. Growth of Acquired Brands and Portfolio Expansion: The successful integration and continued growth of acquired brands, particularly Alani Nu and Rockstar Energy, are anticipated to be significant revenue drivers. Alani Nu has demonstrated record sales and market expansion, with its integration into the PepsiCo distribution system contributing substantially to revenue growth. Celsius is focused on building a "scaled Modern Energy portfolio" by effectively integrating these brands and developing their distinct roles to recruit new consumers and expand consumption occasions.
2. Expanded Distribution and Shelf Space via PepsiCo Partnership: Leveraging its partnership with PepsiCo, Celsius aims for continued expansion into more retail locations, increasing the number of SKUs offered, and achieving triple-digit shelf space gains in 2026. As PepsiCo's energy category captain in the U.S., this strategic alliance and aligned commercial strategy helped Celsius secure approximately 20% dollar share of the U.S. energy drink category in Q4 2025.
3. International Market Expansion: Celsius is strategically expanding its international footprint with a focused approach on approximately 10 key markets and through targeted leadership appointments. Recent efforts include an exclusive distribution agreement with Suntory Beverage & Food Spain to launch the CELSIUS brand in Spain, building upon existing partnerships. International revenue experienced a 24% increase in 2025, driven by strong performance in the Nordics and momentum in other expansion markets such as the UK, Ireland, France, Australia, New Zealand, and Benelux.
4. Sustained Demand in the "Better-For-You" Energy Drink Category: The overall energy drink market continues to see robust growth, specifically within the "zero-sugar" and "better-for-you" segments. Celsius is well-positioned to capitalize on this trend with its portfolio of functional energy drinks that appeal to health-conscious consumers. The company has noted that health, fitness, and wellness trends driving U.S. demand are also resonating in international markets, providing a consistent backdrop for expansion.
5. Ongoing Product Innovation and Diversification: While specific new product launches were not extensively detailed in the recent reports, Celsius emphasizes "sequential innovation" and maintaining a "diversified brand portfolio" as strengths. The company is focused on its core of zero sugar, functional energy, and operational discipline to maintain relevance and drive sustainable growth, indicating continuous product development and adaptation to evolving consumer preferences.

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Share Repurchases

• Celsius Holdings authorized a new share repurchase program of up to $300 million on November 10, 2025.
• The company repurchased $2.3 million in shares in 2024.
• Share buybacks for CELH stock were $448K for the quarter ending December 31, 2025.

Share Issuance

• Stockholders approved the Celsius Holdings, Inc. 2025 Omnibus Incentive Compensation Plan on May 28, 2025, allowing for the issuance of up to 6,000,000 shares of common stock.
• The Celsius Holdings, Inc. 2025 Employee Stock Purchase Plan was approved, making up to 850,000 shares of common stock available for issuance.
• The authorized common stock was increased from 300,000,000 to 400,000,000 shares through an amendment approved on May 28, 2025.

Outbound Investments

• Celsius acquired Alani Nu and Rockstar Energy.
• The integration of Alani Nu into the PepsiCo system was substantially complete by the end of Q1 2026, with Rockstar integration targeted for the first half of 2026.

Capital Expenditures

• Celsius's capital expenditures averaged $17.661 million for fiscal years ending December 2021 to 2025.
• Capital expenditures peaked at $36.067 million in December 2025.
• Expected capital expenditures for 2026 are $39.53 million, and for 2027, $47.63 million, primarily focused on growth initiatives, market expansion, and integrating acquired brands into the PepsiCo distribution system.