Celsius Holdings, Inc. (CELH)

Celsius Holdings, Inc. is a functional energy drink and wellness beverage company operating in the U.S. and internationally. It was incorporated in Nevada in 2005, and its common stock trades on the Nasdaq Capital Market under the symbol CELH. The company develops, processes, markets, sells, manufactures and distributes premium lifestyle beverages aimed at active, wellness-oriented, modern energy drink consumers. It introduced its first CELSIUS functional energy drink in 2005 and has since broadened its portfolio through the acquisitions of Alani Nu (for $1,275.0 million in cash, 22,451,224 shares of common stock and up to $25.0 million of additional cash) and of the Rockstar energy brand in the U.S. and Canada, the latter as part of a series of transactions with Pepsi.

The portfolio consists primarily of energy drinks under the CELSIUS, Alani Nu and Rockstar brands, with CELSIUS and Alani Nu also offering additional wellness products. Product types include ready-to-drink carbonated and non-carbonated energy beverages, mainly in 12-ounce and 16-ounce cans; single-serve on-the-go powder and hydration sticks; and nutrition and wellness products such as protein, amino blends and other functional supplements. Many products are zero sugar and low in calories, and some contain ingredients such as caffeine, green tea extract (EGCG), ginger root extract, amino acids, vitamins and electrolytes.

Products are sold in the U.S., Canada, Europe, the Middle East and the Asia-Pacific region through conventional grocery, natural-food and convenience stores, fitness centers, mass-market and vitamin specialty retailers, and e-commerce platforms such as Amazon, Shopify, Instacart and Walmart.com. Customers are mainly distributors, e-commerce retailers and brick-and-mortar outlets. Pepsi is the primary distributor of Celsius, Alani Nu and Rockstar products in the U.S. and Canada under amended and restated distribution agreements, and it accounted for 43.2% of 2025 revenue and 46.2% of receivables at year-end. Pepsi also holds a "Captaincy" arrangement and two board seats, and it holds the company's Series A and Series B preferred stock. Domestically, distribution also uses direct-store-delivery networks, independent distributors and direct sales to retailers. Internationally, the company works through regional and country-specific distribution partners, including the Suntory Group.

Products are primarily produced by established beverage co-packers, supplemented by an in-house manufacturing facility. The company procures most ingredients and all packaging materials, and co-packers charge a per-case fee. Principal raw materials include aluminum cans, packaging components, natural flavors, sweeteners and functional ingredients, sourced from multiple suppliers without dependence on any single one. Competitors include Monster Beverage, Red Bull, Coca-Cola, Pepsi, Keurig Dr Pepper, Nestlé, BlueTriton Brands, Starbucks, Congo Brands and Molson Coors. The company financed the Alani Nu deal with a term loan and has a $100.0 million revolving credit facility, and it employed 1,497 people at December 31, 2025, mostly in North America.