Celsius' sales rise by more than 190% in quarter

By Hank Schultz contact

- Last updated on GMT

©Getty Images - gesrey
©Getty Images - gesrey

Related tags: Green tea extract, guarana, energy beverages

Energy drink firm Celsius reported passing the $100 million quarterly revenue mark in its recent year end earnings filing. The company made strides in both brick and mortar distribution and greater penetration in online platforms.

Celsius, based in Boca Raton, FL, markets a line of energy beverages with additional ingredients that are aimed to provide additional functional benefits beyond caffeine and carbohydrate fuel.  The company’s main formula rests on a foundation of green tea and guarana seed extracts, with additional vitamins and ingredients such as l-citrulline or BCAAs depending on the product.  

After adding stick pack versions of its products several years ago, Celsius has been quiet on the formulation front, with the exception of adding new flavors.  Yet there’s ample evidence that the existing formulas have found a sweet spot in the market.

First $100 million quarter

Celsius reported $104.3 million in revenue in the fourth quarter of 2021, which represented a 192% rise on a year over year basis from the $35.7 million recorded in the fourth quarter of 2020.  For the whole year, the company’s sales topped $300 million.

Celsius saw significant growth in the convenience store and vending machine channels. In addition the company has now risen to the No. 2 best seller in the energy category on Amazon with a 20% share of that category  By some measures Celsius is still a bit p[layer in the energy drink game, with only a bit more than 2% of the market. 

But CEO John Fieldy said that only includes channels tracked in third party data.  Convenience store and vending sales as well as sales in fitness club chains add to that picture, he said.

“Celsius is grabbing more market share at an accelerated pace across all channels​,” Fieldy said in an earnings call with analysts.  The call was posted in transcript form on the site seekingalpha.com.

Fieldy said sourcing enough aluminum cans was a headache in 2021.  The company was forced to buy more expensive cans from abroad, though he said that supply chain bottleneck is expected to ease in 2022.

Auditing problems

The one blip on the company’s rosy financial picture was an issue that has come up in financial reporting, Fieldy said.  The company now believes it has made an error in how it reported stock bases compensation for some former officers of the company.  This has led the company to make an open admission of some ‘weakness’ in its internal financial controls which will lead to a delay in its formal financial filing.

As a result of the disclosure, a shareholder rights law firm has started drumming up interest in a potential lawsuit. Celsius’ share price fell sharply on the announcement of the delayed filing, but has since rebounded to more than $60 a share.

Related news

Related products

show more

Deliver wholesome products with sustainable ingredients.

Deliver wholesome products with sustainable ingredients.

ADM advances regenerative agriculture | 24-Jun-2022 | Infographic

Learn how the plant-based movement continues to inspire an evolution in consumer eating habits, and how ADM’s NutriStem™ ingredients with their vertically...

Sustainable solutions from farm to finished product.

Sustainable solutions from farm to finished product.

ADM advances regenerative agriculture | 24-Jun-2022 | Insight Guide

Consumers view sustainability more holistically than ever and see it as a moral imperative for companies to take action to protect environmental and social...

Your roadmap to carbon neutral flour has arrived.

Your roadmap to carbon neutral flour has arrived.

ADM advances regenerative agriculture | 24-Jun-2022 | Product Presentation

ADM's net carbon neutral milling network and regenerative agriculture projects help lower your supply chain emissions on flour sourcing. Download...

Vanilla, the sustainable taste of home.

Vanilla, the sustainable taste of home.

ADM advances regenerative agriculture | 24-Jun-2022 | Infographic

Explore how ADM’s responsible global sourcing and formulation know-how is used to develop world-class tasting and sustainable vanilla solutions for deliciousness...

Related suppliers

Follow us

Products

View more

Webinars