2019 Financials indicate momentum for 2020
Celsius releases yearly, quarterly results
Celsius Holdings Inc., Boca Raton, Fla., reported financial results for the year and quarter ended Dec. 31, 2019.
For the quarter, recorded revenue was $24.1 million, up 64 percent from $14.7 million in the same quarter last year. Among that, domestic revenue increased 56 percent to $17.1 million, up from $10.9 million in the year-ago quarter, while international revenue increased 89 percent to $7.1 million, up from $3.7 million in the year-ago quarter.
For the year, recorded revenue was $75.1 million, up 43 percent from $52.6 million in 2018. Among that, domestic revenue increased 53 percent to $59.7 million, up from $38.9 million in 2018, while international revenue increased 13 percent to $15.5 million, up from $13.7 million in 2018.
“This past year was highlighted by a number of significant accomplishments that not only contributed to an exceptional 2019, but also provide us with tremendous momentum into 2020 and beyond,” said John Fieldly, president and chief executive officer, in a statement. “We grew our revenue exponentially setting record highs both for the full year and each quarter through 2019, all while generating positive cash flow. In addition, we re-engineered our business model in China, growing our infrastructure, and expanded our distribution with the addition of new channels to support higher volumes. We enhanced our portfolio with new, innovative products and flavors, and our brand is more widely recognized than ever before.
“Looking ahead, we have plans in place and initiatives underway to further leverage our expanding distribution and continue to build our global brand equity,” he continued. “This positions our CELSIUS portfolio as a global leader in health and wellness, which we believe will drive continued growth and success in 2020.”