Celsius Holdings reports 65 percent revenue increase in Q1
Revenue reached a record $3.9 million in the quarter
Boca Raton, Fla.-based Celsius Holdings Inc. reported its financial results for the three months ending March 31. The company marked a 65 percent increase in revenue to $3.9 million in the quarter, with domestic sales increasing 16 percent and international sales increasing 133 percent, it says. As such, gross profit increased 61 percent to $1.4 million.
More specifically, domestic retail sales increased 21 percent, compared with the prior-year period, and health and fitness sales increased 97 percent. This was offset by a domestic Internet sales decrease of 12 percent as a result of out-of-stock replenishment system errors, which have been corrected, the company says.