Company: CELH
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001341766-25-000104
Chunk: 55

Company: Celsius Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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 months ended June 30, 2025, gross profit increased by $161.9 million to $553.2 million, an increase of 41.4%, from $391.3 million for the six months ended June 30, 2024. Gross profit margin increased to 51.8% for the six months ended June 30, 2025 from 51.6% for the six months ended June 30, 2024. Gross profit margin improvements were primarily driven by reductions in raw and packaging material costs, product mix and scale efficiencies. These benefits were partially offset by a one time inventory valuation step up, discussed in Note 5. Acquisitions in the notes to the unaudited condensed consolidated financial statements, and the inclusion of Alani Nu, which carried a lower gross profit margin profile.

Selling, General and Administrative Expenses

Selling, general and administrative expenses for the six months ended June 30, 2025 were $358.2 million, an increase of $144.3 million, or 67.5%, from $213.9 million for the six months ended June 30, 2024. 

The changes within SG&A expenses included:

An increase of $78.6 million in administrative expenses. These increases were primarily due to: 

•$25.1 million in acquisition-related costs, primarily legal and professional service fees associated with the Alani Nu acquisition;

•$15.8 million attributable to Alani Nu, primarily related to administrative employee costs, amortization of intangible assets, and other general administrative expenses;

•$14.7 million in general administrative costs, including legal, consulting, and other professional service expenses; 

•$13.8 million due to the remeasurement of contingent consideration related to the Alani Nu acquisition, reflecting stronger-than-expected revenue performance and an upward revision to forecasted results; and

•$9.2 million in other administrative expenses, including depreciation, amortization of intangibles, and stock-based compensation. 

An increase of $65.7 million in marketing and sales expenses. These increases were primarily due to: 

•$29.7 million attributable to Alani Nu, primarily related to sales and marketing employee costs, marketing investments to support brand growth, and storage and distribution expenses associated with the brand’s commercial expansion;

•$20.3 million in marketing expense, reflecting continued execution of the Live. Fit. Go. campaign, which