Summary by Moomoo AI
Celsius Holdings, Inc. reported a robust financial performance for the quarter ended June 30, 2024, with revenue reaching approximately $402.0 million, a significant increase from $325.9 million in the same period the previous year. This 23% growth was primarily attributed to the North American market, which saw continued expansion in distribution points, shelf space, and product offerings. European revenue also saw a notable rise of 40%, amounting to $16.7 million, driven by successful product launches. Gross profit for the quarter rose by 32% to $209.1 million, with gross profit margins improving to 52% from 49% in the previous year, thanks to decreased costs in raw materials and outbound freight. Selling, general and administrative expenses increased by 22% to $114.9 million, reflecting higher marketing investments and employee costs to support growth. Net income attributable...Show More
