Celsius Holdings Revenue Growth Accelerates to 16.8%

The Tip Desk · November 5, 2026 · 3 min read

Third-quarter sales reached a record $847.2 million as Alani Nu, Rockstar and international sales offset a slower CELSIUS decline.

Celsius Holdings (CELH), the functional beverage company, reported third-quarter 2026 revenue of $847.2 million, up 16.8% from a year earlier, a faster pace than the 10.6% increase in the second quarter.

The company said the record quarter reflected its multi-brand Modern Energy platform. Chairman and CEO John Fieldly said the company continued to make progress to improve CELSIUS brand performance while advancing execution across the portfolio.

Alani Nu was the largest brand. Revenue increased about 24% to $410.1 million from $332.0 million a year earlier, which the company attributed to increased distribution within the PepsiCo DSD system, the limited-time Witch’s Brew flavors, and continued consumer demand. That growth was partially offset by a higher mix of DSD versus direct sales, which raised trade investments and billbacks that reduced reported net revenue, and by the discontinuation of certain non-ready-to-drink products.

Rockstar Energy contributed $80.3 million, which the company said was driven by strong performance in Canada due to the timing of orders across the second and third quarters of 2026.

CELSIUS brand revenue fell about 6% to $356.8 million from $381.0 million a year earlier, a slower decline than the 11.7% drop in the second quarter. The company cited SKU optimization, shipment timing related to inventory rebalancing, and softness in the club channel.

International revenue rose 78% to $41.0 million from $23.1 million a year earlier, after 10% growth in the second quarter. The company said the increase came from established Nordic markets and expansion markets including Iberia, the UK, Ireland, France, Australia, New Zealand and Benelux. North America, which includes Canada, contributed $806.2 million.

Gross profit increased 6.4% to $396.3 million. Gross margin compressed to 46.8% from 51.3% a year earlier, a 450-basis-point decline after a 340-basis-point year-over-year decline in the second quarter. The company said the margin drop reflected continued inflation in commodity costs, primarily aluminum and fuel, and a higher mix of DSD sales, partially offset by efficiencies from integrating acquired businesses into its supply chain. Raw material COGS improved during the quarter excluding aluminum and fuel.

Selling, general and administrative expenses were $220.7 million, or 26.1% of revenue, versus 28.4% of revenue in the year-ago quarter. Adjusted SG&A, which excludes litigation and acquisition-related costs, was 25.5% of revenue.

Net income was $127.0 million, or $0.39 a share, compared with a net loss of $61.0 million, or $0.27 a share, a year earlier. Adjusted diluted EPS was $0.41, down 2% from $0.42. Adjusted EBITDA was $198.6 million, recovering from $184.2 million in the second quarter.

Retail sales of the Celsius Holdings portfolio in U.S. tracked channels increased 14.7% for the 13 weeks ended September 27, 2026. The company held an approximate 20.7% dollar share in the U.S. RTD energy category. Alani Nu retail sales increased 57.9%, with a 9.8% dollar share. CELSIUS retail sales decreased 7.0%, with a 9.1% dollar share. Rockstar Energy retail sales decreased 13.2%, with a 1.8% dollar share. The portfolio contributed approximately 28% of the zero-sugar U.S. energy category’s $773 million growth in the third quarter.

The company repurchased approximately $44.5 million of shares in the quarter under a $300 million authorization. It also announced a brand-led organizational structure, appointing Alex Zigliara as President of CELSIUS and Rishi Daing as President of Rockstar Energy & Emerging Growth. Fieldly said those appointments were intended to strengthen execution against priorities including realizing the benefits of the integrated platform, improving margins through revenue growth management, supply chain and cost initiatives, and positioning each brand for sustainable growth.