Company: CELH
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001341766-25-000104
Chunk: 99

Company: Celsius Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 99
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 under the first-in, first-out method. Changes in the inventory reserve are included in cost of revenue. Inventories-net consist of the following:June 30, 2025December 31, 2024Finished goods$187,584 $108,786 Raw materials47,375 27,088 Less: inventory reserve(4,913)(4,709)Inventories-net$230,046 $131,165 

9.    PROPERTY, PLANT AND EQUIPMENT

The following table summarizes the Company's property, plant and equipment balances and includes the estimated useful lives that are generally used to depreciate the assets on a straight-line basis:Estimated UsefulLife in YearsJune 30,2025December 31,2024Merchandising equipment - coolers3-7$52,892 $39,231 Machinery and equipment7-1516,585 10,136 Vehicles514,828 12,237 Leasehold improvements3-52,439 2,561 Office equipment 3-71,846 2,228 Less: accumulated depreciation(16,074)(10,791)Property, plant and equipment-net$72,516 $55,602 Depreciation expense amounted to approximately $2.8 million and $1.2 million for the three months ended June 30, 2025 and 2024, respectively. Depreciation expense amounted to approximately $5.2 million and $2.3 million for the six months ended June 30, 2025 and 2024, respectively. Depreciation expense is primarily reflected in selling, general and administrative expenses.

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Celsius Holdings, Inc.Notes to the Condensed Consolidated Financial Statements (Unaudited)June 30, 2025(Tabular dollars in thousands, except per share amounts)

10.    ACCOUNTS PAYABLE AND ACCRUED EXPENSES

As of June 30, 2025 and December 31, 2024, accounts payable was approximately $121.0 million and $41.3 million, respectively.Accrued expenses consisted of the following:June 30,2025December 31,2024Accrued legal$62,697 $63,328 Accrued marketing54,316 34,774 Unbilled purchases39,442 13,754 Accrued freight25,337 5,098