Summary by Moomoo AI
Celsius Holdings, Inc. has reported a significant decrease in revenue for the third quarter of 2024, with a 31% drop to $265.7 million from $384.8 million in the same period last year. The decline was largely attributed to a $123.9 million reduction in sales from its largest distributor due to inventory optimization. Despite this, European revenues increased by 47% to $16.2 million, driven by successful product launches. Gross profit also saw a decrease of 37% to $122.2 million, with a gross profit margin drop from 50% to 46%. Selling, general and administrative expenses rose by 30% to $125.4 million, primarily due to increased marketing investments and employee costs. Net loss attributable to common stockholders was $0.6 million, a stark contrast to the $70.4 million net income in the previous year. The company has faced legal...Show More
