Summary by Moomoo AI
Celsius Holdings achieved record Q2 2024 financial results with revenue increasing 23% to $402.0 million and net income rising 55% to $79.8 million. Gross profit grew 32% to $209.1 million with improved margins of 52.0%, up 320 basis points YoY. Diluted earnings per share increased 65% to $0.28, driven by margin improvements and SG&A leverage.The company maintained strong market momentum, contributing 47% of energy drink category growth in Q2. North American revenue rose 23% to $382.4 million, while international sales grew 30% to $19.6 million. The company expanded its retail presence with SKUs per store increasing to 20 from 15, and saw significant growth in club channel sales (+30%) and Amazon sales (+41%).Celsius continued its international expansion, launching in the UK and Ireland through fitness channels, while exceeding expectations in Canada. The company plans to enter Australia, France, and New Zealand in H2 2024. Innovation initiatives included the launch of CELSIUS Essentials, which reached 64% ACV, and the introduction of new flavors in both sparkling drinks and powders.
