Summary by Moomoo AI
Celsius Holdings, Inc. reported a significant increase in revenue for the first quarter of 2024, with a 37% rise to $355.7 million compared to $259.9 million in the same period of 2023. The growth was largely attributed to the North American market, which saw a 37% increase in revenue. Gross profit for the quarter also saw a substantial increase of 60%, reaching $182.2 million with a gross profit margin of 51%, up from 44% in the previous year. This improvement was due to lower raw and package material costs and reduced outbound freight costs. Selling, general and administrative expenses rose by 44% to $99.0 million, driven by higher marketing investments, storage and distribution costs, employee costs, and other selling expenses. Other income increased to $9.3 million, up from $4.9 million in the prior year...Show More
