Celsius Holdings, Inc.
Celsius Holdings, Inc. develops, processes, manufactures, markets, sells, and distributes functional energy drinks in the United States, North America, Europe, the Asia Pacific, and internationally. The company offers CELSIUS ESSENTIALS, a functional energy drink formulated with aminos; and CELSIUS Hydration, a line of zero-sugar hydration powders featuring electrolytes in various fruit-forward flavors, as well as ready-to-drink energy beverages, on-the-go powder and hydration sticks, and nutrition and wellness products under CELSIUS, Alani Nu, and Rockstar brand names. It distributes its products through direct-to-store delivery, independent distributors, supermarkets, convenience stores, drug stores, nutritional stores, food service providers, and mass merchants, as well as natural food stores, fitness centers, mass market retailers, vitamin specialty stores, club stores, gyms, and e-commerce platforms. The company was formerly known as Vector Ventures, Inc. and changed its name to Celsius Holdings, Inc. in January 2007. Celsius Holdings, Inc. was founded in 2004 and is headquartered in Boca Raton, Florida.
What does it do?
Celsius makes energy drinks that are marketed as healthier than traditional options like Red Bull or Monster — think fewer artificial ingredients, no sugar, and added vitamins. Their cans are designed to appeal to gym-goers and health-conscious consumers who want an energy boost without feeling guilty about it. You've probably seen them in the cooler section of Target, Walmart, or your local gym. They sell in the US but are also expanding into Europe and Asia.
Celsius went from a niche fitness brand to a mainstream energy drink contender in just a few years, nearly doubling revenue from $1.4B to $2.5B in a single year — that kind of growth in a mature consumer market is rare and gets investors excited. The energy drink market is enormous and historically dominated by just two players (Red Bull and Monster), so any brand that credibly breaks into the top tier becomes a big deal. Right now, investors are watching to see if Celsius can hold onto its momentum or if the growth spurt is starting to slow down.
How does it make money?
Celsius makes almost all of its money by selling canned energy drinks to retailers and distributors, who then sell them to consumers at places like Walmart, Amazon, and convenience stores. In 2022, they signed a landmark distribution deal with PepsiCo, which dramatically expanded their shelf presence across the country — that partnership is the main reason revenue jumped so sharply. They also sell powder sticks and hydration products, but canned drinks are the core of the business. With $2.5B in revenue, the US market is their biggest earner, though international sales are a growing slice of the pie.
Why do investors care?
The bull story for Celsius is simple: the healthy energy drink trend is still in early innings, and Celsius is the brand best positioned to ride it. They've already proven they can scale fast, and the PepsiCo distribution deal gives them access to store shelves that took Monster and Red Bull decades to lock up. For the thesis to work, Celsius needs to keep winning new customers, hold onto shelf space, and successfully grow internationally — especially in Europe where energy drink culture is strong. The risk is that growth was partly a one-time pop from the PepsiCo deal, and the underlying demand may not be as durable as the revenue numbers suggest.
Deep Dive
MemberA full investor briefing on Celsius Holdings, Inc. — history, leadership, risks, and outlook.