Company: CELH
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001341766-25-000080
Chunk: 5

Company: Celsius Holdings, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 5
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 estimates are based on management's best knowledge of current events and actions that the Company may undertake in the future, actual results may differ from those estimates. These estimates and judgements are reviewed on an ongoing basis and are revised when necessary. Significant estimates include promotional allowances, intangibles, assets and liabilities assumed as a part of business combinations, the allowance for current expected credit losses, leases, allowance for inventory obsolescence and sales returns, the useful lives of property, plant and equipment, impairment of goodwill and intangibles, deferred taxes and related valuation allowance, and the valuation of stock-based compensation.Concentrations of Risk — The majority of the Company’s revenue is derived from the sale of CELSIUS® functional energy drinks. Powder sales accounted for approximately 4.6% and 4.1% of revenue for the three months ended March 31, 2025 and 2024, respectively.Revenue from customers accounting for more than 10.0% of total revenue for the three months ended March 31, 2025 and 2024 was as follows:Three Months Ended March 31,20252024Pepsi57.6 %59.2 %Amazon12.1 %8.0 %Costco5.9 %10.2 %All others24.4 %22.6 %Total100.0 %100.0 %

9

Celsius Holdings, Inc.Notes to the Condensed Consolidated Financial Statements (Unaudited)March 31, 2025(Tabular dollars in thousands, except per share amounts)

Accounts receivable from customers accounting for more than 10.0% of total accounts receivable as of March 31, 2025 and December 31, 2024 were as follows:March 31,2025December 31,2024Pepsi53.5 %62.2 %Amazon14.4 %8.9 %Costco11.2 %10.2 %All others20.9 %18.7 %Total100.0 %100.0 %Cash Equivalents — The Company considers all highly liquid instruments with original maturities of three months or less, when purchased, to be cash equivalents. As of March 31, 2025 and December 31, 2024, the Company did not hold any instruments with original maturities exceeding three months.Accounts Receivable and Current Expected