Company: CELH
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001341766-25-000080
Chunk: 83

Company: Celsius Holdings, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 83
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 2025 annual meeting of stockholders. No further awards can be granted under the 2015 Plan.A summary of the Company’s restricted stock units ("RSUs") and PSUs for the three months ended March 31, 2025 and 2024 is presented in the following table:Three Months Ended March 31,20252024RSUs/PSUs(000’s)WeightedAverageGrant DateFair ValueRSUs/PSUs(000’s)WeightedAverageGrant DateFair ValueUnvested at beginning of period1,021$45.09 1,341$26.43 Granted1,07426.41 27578.22 Vested(249)44.09 (510)22.89 Forfeited and cancelled(10)50.81 (12)23.23 Unvested at end of period1,836$34.27 1,094$41.21 Performance-based Stock AwardsA summary of PSU awards granted during the three months ended March 31, 2025, is as follows:Grant DateShares (000’s)Performance PeriodMetricsGrant Date Fair ValueMarch 1, 20251422025-2027Revenue  rTSRRevenue - $25.69rTSR - $36.61

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

13. SEGMENT REPORTING

The Company operates in multiple geographical regions and functions as a single operating segment because its operations and strategies are centrally designed and executed, and remain significantly similar across these regions. The CODM, who is the Company’s Chief Executive Officer, evaluates operating results and allocates resources on a consolidated basis due to the significant economic interdependencies between the Company's geographical operations. As a result, the Company is managed as a single operating segment and has a single reportable segment. The primary financial measure reviewed by the CODM is net income.The following table reflects certain financial data for the Company's single reportable segment:Three Months Ended March 31, 20252024Revenue$329,276 $355,708 Cost of sales (excluding freight) (142,476)(159,546)Freight(14,427)(13,955)Gross profit172,373 182,207 Selling and marketing expenses(80,898)(75,838)