Growth Acceleration, Portfolio Expansion, and Administration Gains in Robust Asia Market
BOCA RATON, Fla., May 10, 2018 /PRNewswire/ — Celsius Holdings, Inc. (the “Company” or “Celsius”) (CELH), maker of the arch all-around fettle drink, CELSIUS®, today appear banking after-effects for the 2018 aboriginal division assured March 31, 2018.
“Our action of accession Celsius as the all-around cooler baton for health-minded consumers charcoal our top antecedence and is continuing to booty authority as we added connected our cast and broadened our administration to access new markets and abound our business in the aboriginal quarter,” said John Fieldly, President and Chief Executive Officer. “We are accomplishing success on assorted levels accent financially by a two-fold access in annual acquirement and operationally by the absolute launches of new articles in adopted markets and added amplification with new and absolute retailers in calm markets.”
“Distribution drive connected to advance at the alpha of 2018 with cogent placements of our portfolio of CELSIUS®-branded products,” connected Fieldly. “We entered the biologic abundance approach with the administration of three flavors of our Originals band at over 550 CVS aliment civic during the aboriginal quarter. CVS and the approach as a accomplished represent a cogent bazaar befalling as biologic abundance retailers access up their efforts to bigger serve consumers’ added focus on holistic bloom and wellness with the accession of convalescent aliment and cooler offerings. With prime adjustment at the advanced checkout lane coolers, we apprehend our cast will ability a vast, new admirers of consumers through the CVS approach to drive added sales volume.”
Fieldly added, “In addition, by leveraging our success and absolute cast in the Nordic region, we auspiciously began administration of artefact in Norway and alien our new and avant-garde branch-chained amino acids (BCAA) alcohol to the Finland and Sweden markets, decidedly accretion administration and availability for consumers.”
“Industry awards and accolades extend from the artefact itself to the acute packaging we use to allure consumers,” Fieldly concluded. “Most recently, our CELSIUS HEAT™ artefact band was called from added than 100 entries from about the apple as “Best Packaging/Label Design” at the 2018 InnoBev All-around Soft Drinks Awards for its standout packaging and characterization design. The packaging, which was advised by our awful artistic centralized addition team, appropriately positions our cast in the fettle and activity alcohol class and differentiates our articles from added brands in the category.”
For the three months assured March 31, 2018, acquirement was about $12.1 million, an access of $6.1 actor or 101% from $6.00 actor for aforementioned aeon in the above-mentioned year. The acquirement access of 101% was attributable in ample allotment to attenuated advance ante of 69% advance in North American revenues primarily attributable to bifold chiffre advance in absolute accounts and new administration expansion. European sales accomplished 118% advance mainly as a aftereffect of the barrage of a BCAA Celsius band addendum in Northern Europe and in Asia revenues grew 100% mainly as a aftereffect of our antecedent artefact band barrage in China. The access in acquirement from the 2017 aeon to the 2018 aeon was primarily attributable to an access in sales volume, as against to increases in artefact pricing.
Gross accumulation was $4.8 million, or 39.5% of revenue, in the three months assured March 31, 2018 compared to $2.4 million, or 39.7% of revenue, for the aforementioned aeon in 2017.
Total Operating Expense
Sales and business costs for the three months assured March 31, 2018 were about $5.6 million, an access of $3.5 actor or 160% from $2.2 actor in the aforementioned aeon in 2017. The access is due primarily to increases in investments in animal assets and increases in business programs in Asia (including antecedent barrage of our articles in China) accretion $2.4 actor and added investments in North American business programs.
General and authoritative costs for the three months assured March 31, 2018 were about $2.00 million, a abatement of $0.06 million, or 2.9%, from $2.06 actor for the three months assured March 31, 2017. The abatement was primarily due to accumulation in animal assets associated with a $423,000 CEO retirement advantage acquittal paid in 2017, which was account by investments in animal assets of $226,000, increases in allowance amount $30,000, increases in able fees $76,000, added investments in analysis and development costs $50,000, increases in abrasion amount $4,000, account by accumulation in advantage amount of $11,000.
Total added amount decreased to about $38,000 for the three months assured March 31, 2018, from $48,000 for the aforementioned aeon in 2017, as a aftereffect of accumulation in absorption expense.
Net Assets (Loss)
As a aftereffect of the above, for the three months assured March 31, 2018, Celsius had a net accident of $2.9 million, and afterwards giving aftereffect to adopted banal assets of $83,000, a net accident accessible to accustomed stockholders of $3.0 actor or ($0.06) per basal and adulterated allotment based on a abounding boilerplate of 47,449,553 shares outstanding. In comparison, for the three months assured March 31, 2017, the aggregation had a net accident of $1.9 million, and afterwards giving aftereffect to adopted banal assets of $90,000, a net accident accessible to accustomed stockholders of $2.0 actor or ($0.05) per basal and adulterated allotment based on a abounding boilerplate of 41,783,853 shares outstanding.
Liquidity and Basic Assets
As of March 31, 2018, the aggregation had banknote of $10.0 actor compared to $14.2 actor as of December 31, 2017. The aggregation had alive basic of $18.5 actor as of March 31, 2018 compared to $20.6 actor as of December 31, 2017.
Cash acclimated in operations during the three months assured March 31, 2018 totaled $4.3 million. The aggregation incurred a net accident of $3.0 actor during the three months assured March 31, 2018, accretion the accumulated arrears to $64.9 actor as of March 31, 2018.
Management will host a appointment alarm today, Thursday, May 10, 2018 at 4:30 pm ET to altercate the after-effects with the advance community.
To participate in the appointment call, amuse alarm one of the afterward blast numbers at atomic 10 account afore the alpha of the call:
An audio epitomize of the alarm will be accessible on the Company’s website at https://www.celsiusholdingsinc.com/news/.
Disclosures can be begin on the Company’s online acknowledgment aperture at: https://www.celsiusholdingsinc.com/sec-filings/.
About Celsius Holdings, Inc.
Celsius Holdings, Inc. (CELH), founded in April 2004, is a all-around aggregation with a proprietary, clinically accurate blueprint for its cast CELSIUS®. Celsius Holdings, Inc. has a accumulated mission to become the all-around baton of a branded portfolio consisting of proprietary, clinically accurate innovations which action cogent bloom benefits. CELSIUS®’ Aboriginal Band comes in eight adorable sparkling and non-carbonated flavors in glassy 12oz cans and is additionally accessible in single-serve delicate packets. CELSIUS®’ Natural Band is accessible in six auspicious flavors and the band is artlessly caffeinated and artlessly sweetened.
New to the portfolio, trainer-grade CELSIUS HEAT™ offers an added 100mg of caffeine over CELSIUS®, to absolute 300mg per can, and additionally contains 2,000mg of L-citrulline, a vasodilator. CELSIUS HEAT™ is awash in 16oz cans and is accessible in seven carbonated flavors. CELSIUS HEAT™ is a ardent pre-workout alcohol and targets able trainers, aggressive athletes, the aggressive and aboriginal responders. CELSIUS HEAT™ was developed for those gluttonous a trainer-grade adaptation of CELSIUS® against the Aboriginal Line, which is awash in a abate can amalgamation and appeals to the masses as an alive affairs brand.
CELSIUS® has aught sugar, no preservatives, no aspartame, no aerial fructose blah syrup, and is non-GMO, with no bogus flavors or colors. The CELSIUS® band of articles is Certified Kosher and Vegan. CELSIUS® is additionally soy and gluten chargeless and contains absolute little sodium. CELSIUS® is awash nationally at fettle clubs, 7-Eleven, Sprouts, The Fresh Bazaar and key bounded retailers such as HEB, Publix, Winn-Dixie, Harris Teeter, Shaw’s, Aliment Lion, CVS and abounding others.
CELSIUS®’ anatomic claims are backed by six appear university studies. The aboriginal abstraction was conducted in 2005 and added studies from the University of Oklahoma were conducted over the aing bristles years. The studies were appear in peer-reviewed journals and validate the different allowances that CELSIUS® provides. For added information, amuse appointment www.celsiusholdingsinc.com.
This columnist absolution may accommodate statements that are not absolute facts and are advised advanced aural the acceptation of the Private Securities Litigation Reform Act of 1995. These advanced statements accommodate projections of Celsius Holdings’ approaching after-effects of operations and/or banking position, or accompaniment added advanced information. In some cases, you can analyze these statements by advanced words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” “would,” or agnate words. You should not await on advanced statements back Celsius Holdings’ absolute after-effects may alter materially from those adumbrated by advanced statements as a aftereffect of a cardinal of important factors. These factors include, but are not bound to: accustomed bread-and-er and business conditions; our business action for accretion our attendance in our industry; advancing trends in our banking action and after-effects of operation; the appulse of antagonism and technology change; absolute and approaching regulations affecting our business; and added risks and uncertainties discussed in the letters Celsius Holdings has filed ahead with the Securities and Exchange Commission. Celsius Holdings does not intend to and undertakes no assignment to amend the advice independent in this columnist release.
— Tables Follow —
Celsius Holdings, Inc. and Subsidiaries
Consolidated Balance Sheets
March 31, 2018(Unaudited)
December 31, 2017 (1)
Accounts receivable, net
Prepaid costs and added accustomed assets
Absolute accustomed assets
Property and equipment, net
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued expenses
Accrued adopted dividend
Customer advances and added accustomed liabilities
Absolute accustomed liabilities
Line of acclaim agenda payable-related party
Preferred Stock, $0.001 par value; 2,500,000 shares authorized, 2,760 and 6,760 shares issued and outstanding at March 31, 2018 and December 31, 2017
Common stock, $0.001 par value; 75,000,000 shares authorized, 50,956,869 and 45,701,593 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively
Additional paid-in capital
Accumulated added absolute loss
Absolute Stockholders’ Equity
Absolute Liabilities and Stockholders’ Equity
Derived from Audited Banking Statements
Celsius Holdings, Inc. and Subsidiaries
Consolidated Statements of Operations
For the three monthsended March 31,
Cost of revenue
Selling and business expenses
General and authoritative expenses
Total operating expense
Income (Loss) from operations
Other Assets (Expense):
Total Added Assets (Expense)
Preferred banal dividend
Loss accessible to accustomed stockholders
Loss per share:
Weighted boilerplate shares outstanding:
Celsius Holdings, Inc.
Reconciliation of Non-GAAP Banking Measure
Three months assured March 31,
Net assets (loss) accessible to accustomed stockholders (GAAP measure)
Depreciation and acquittal expense
Net absorption expense
Preferred banal dividend
Non-GAAP Adapted EBITDA
Non-recurring ancient charges
Inventory write-down & Characterization artwork change fees
Label artwork change fees
CEO recruiting fees
CEO retirement compensation
Total non-recurring ancient charges
Non-GAAP Adapted EBITDA excluding ancient charges
Net Asia investment
Net Non-GAAP Adapted EBITDA excluding net Asia investment*
*We address banking after-effects in accordance with accounting attempt about accustomed in the United States (“GAAP”), but accept that acknowledgment of adapted EBITDA, a non-GAAP banking measure, may accommodate users with added insights into operating performance.
Investor Relations: Cameron Donahue(651) [email protected]
Media: Megan Bell Rosica Communications (201) 843-5600 [email protected]
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