# EDGAR Filing Document

**Accession Number:** 0000865752
**File Stem:** 0001104659-25-075211
**Filing Date:** 2025-8
**Character Count:** 45542
**Document Hash:** 456846ff97682cb678450085bb5ba64d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-075211.hdr.sgml**: 20250807

**ACCESSION NUMBER**: 0001104659-25-075211

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 21

**CONFORMED PERIOD OF REPORT**: 20250807

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250807

**DATE AS OF CHANGE**: 20250807

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Monster Beverage Corp
- **CENTRAL INDEX KEY:** 0000865752
- **STANDARD INDUSTRIAL CLASSIFICATION:** BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 471809393
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-18761
- **FILM NUMBER:** 251194437

**BUSINESS ADDRESS:**
- **STREET 1:** 1 MONSTER WAY
- **CITY:** CORONA
- **STATE:** CA
- **ZIP:** 92879
- **BUSINESS PHONE:** 909-739-6200

**MAIL ADDRESS:**
- **STREET 1:** 1 MONSTER WAY
- **CITY:** CORONA
- **STATE:** CA
- **ZIP:** 92879

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HANSEN NATURAL CORP
- **DATE OF NAME CHANGE:** 19930328

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UNIPAC CORP
- **DATE OF NAME CHANGE:** 19600201

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **August 7, 2025**

**Monster Beverage Corporation**

(Exact name of registrant as specified in its charter)

**Delaware**

(State or other jurisdiction of incorporation)

---

| | |
|:---|:---|
| **001-18761** | **47-1809393** |
| (Commission File Number) | (IRS Employer Identification No.) |

---

**1 Monster Way**

**Corona** **, California 92879**

(Address of principal executive offices and zip code)

**(951** **) 739 - 6200**

(Registrant's telephone number, including area code)

**N/A**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock | MNST | Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

***Item 2.02. Results of Operations and Financial Condition.***

On August 7, 2025, Monster Beverage Corporation (the "Company") issued a press release relating to its financial results for the second quarter ended June 30, 2025, a copy of which is furnished as Exhibit 99.1 hereto. The press release did not include certain financial statements, related footnotes and certain other financial information that will be filed with the Securities and Exchange Commission as part of the Company's Quarterly Report on Form 10-Q.

On August 7, 2025, the Company will conduct a conference call at 2:00 p.m. Pacific Time. The conference call will be open to all interested investors through a live audio web broadcast via the internet at <u>www.monsterbevcorp.com</u> in the "Events & Presentations" section. For those who are not able to listen to the live broadcast, the call will be archived for approximately one year on the website.

***Item 7.01. Regulation FD Disclosure.***

The Company's investor presentation containing scanner data for the second quarter ended June 30, 2025 is furnished as Exhibit 99.2 to this Current Report on Form 8-K.

The information under Items 2.02 and 7.01 above (including Exhibits 99.1 and 99.2 hereto) is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.

***Item 9.01. Financial Statements and Exhibits*.**

(d) Exhibits

---

| | |
|:---|:---|
| [Exhibit 99.1](tm2522843d1_ex99-1.htm) | [Press Release dated August 7, 2025.](tm2522843d1_ex99-1.htm) |
| [Exhibit 99.2](tm2522843d1_ex99-2.htm) | [Investor Presentation.](tm2522843d1_ex99-2.htm) |
| Exhibit 104 | The cover page from this Current Report on Form 8-K, formatted in iXBRL (Inline eXtensible Business Reporting Language). |

---

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
|  | Monster Beverage Corporation |
| Date: August 7, 2025 | /s/ Hilton H. Schlosberg |
|  | Hilton H. Schlosberg |
|  | Vice Chairman of the Board of Directors and |
|  | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![](tm2522843d1_ex99-1img001.jpg)

---

| | |
|:---|:---|
|  | PondelWilkinson Inc. |
|  | 2945 Townsgate Road, Suite 200 |
|  | Westlake Village, CA 91361 |
|  | T (310) 279 5980 |
| Investor Relations | W www.pondel.com |
| Strategic Public Relations |  |

---

---

| | |
|:---|:---|
| CONTACTS: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mark Astrachan |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SVP, Investor Relations & Corporate Development |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(951) 739-6200 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roger S. Pondel / Judy Lin |
| **NEWS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PondelWilkinson Inc. |
| **RELEASE** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(310) 279-5980 |

---

**MONSTER BEVERAGE REPORTS 2025 SECOND QUARTER FINANCIAL RESULTS**

***2025 Second Quarter Highlights***

&nbsp;&nbsp;&nbsp;&nbsp;·  ***Record Quarterly Net Sales exceed the $2.0 billion threshold for the first time in the Company's history*** 

&nbsp;&nbsp;&nbsp;&nbsp;·  ***Net Sales rise 11.1 percent to $2.11 billion; 11.4 percent to $2.12 billion on a foreign currency adjusted basis (non-GAAP)*** 

&nbsp;&nbsp;&nbsp;&nbsp;·  ***Operating Income increases 19.8 percent to $631.6 million; 21.5 percent on a non-GAAP adjusted basis*** 

&nbsp;&nbsp;&nbsp;&nbsp;·  ***Net Income Per Diluted Share increases 21.1 percent to $0.50 per share; 23.0 percent to $0.52 per share on a non-GAAP adjusted basis*** 

*The tables at the end of this press release provide a reconciliation of non-GAAP financial measures to the Company's results, as reported under GAAP. (See "Reconciliation of GAAP and Non-GAAP Information" below).*

**Corona, CA** – August 7, 2025 – Monster Beverage Corporation (NASDAQ: MNST) today reported financial results for the three- and six-months ended June 30, 2025.

Net sales for the 2025 second quarter increased 11.1 percent to $2.11 billion, from $1.90 billion in the same period last year. Net changes in foreign currency exchange rates had an unfavorable impact on net sales for the 2025 second quarter of $5.0 million. Net sales on a foreign currency adjusted basis (non-GAAP) increased 11.4 percent in the 2025 second quarter.

Net sales, excluding the Alcohol Brands segment, on a foreign currency adjusted basis (non-GAAP), increased 11.8 percent in the 2025 second quarter.

Net sales for the Company's Monster Energy® Drinks segment, which primarily includes the Company's Monster Energy® drinks, Reign Total Body Fuel® high performance energy drinks, Reign Storm® total wellness energy drinks and Bang Energy® drinks, increased 11.2 percent to $1.94 billion for the 2025 second quarter, from $1.74 billion for the 2024 second quarter. Net changes in foreign currency exchange rates had an unfavorable impact on net sales for the Monster Energy® Drinks segment of approximately $4.8 million for the 2025 second quarter. Net sales on a foreign currency adjusted basis (non-GAAP) for the Monster Energy® Drinks segment increased 11.4 percent in the 2025 second quarter.

(more)

Monster Beverage Corporation

2-2-2

Net sales for the Company's Strategic Brands segment, which primarily includes the various energy drink brands acquired from The Coca-Cola Company, as well as the Company's affordable energy brands Predator® and Fury®, increased 18.9 percent to $129.9 million for the 2025 second quarter, from $109.2 million in the 2024 second quarter. Net changes in foreign currency exchange rates had an unfavorable impact on net sales for the Strategic Brands segment of approximately $0.2 million for the 2025 second quarter. Net sales on a foreign currency adjusted basis (non-GAAP) for the Strategic Brands segment increased 19.1 percent in the 2025 second quarter.

Net sales for the Alcohol Brands segment, which is comprised of various craft beers, flavored malt beverages and hard seltzers, decreased 8.6 percent to $38.0 million for the 2025 second quarter, from $41.6 million in the 2024 second quarter.

Net sales for the Company's Other segment, which primarily includes certain products of American Fruits and Flavors, LLC, a wholly owned subsidiary of the Company, sold to independent third-party customers, decreased 8.5 percent to $6.4 million for the 2025 second quarter, from $7.0 million in the 2024 second quarter.

Net sales to customers outside the United States increased 15.8 percent to $864.2 million in the 2025 second quarter, from $746.0 million in the 2024 second quarter. Net sales to customers outside the United States, on a foreign currency adjusted basis (non-GAAP), increased 16.5 percent to $869.3 million in the 2025 second quarter. Such sales were approximately 41 percent and 39 percent of total reported net sales for the 2025 and 2024 second quarters, respectively.

Gross profit as a percentage of net sales for the 2025 second quarter increased to 55.7 percent from 53.6 percent in the 2024 second quarter. The increase in gross profit as a percentage of net sales for the 2025 second quarter was primarily the result of pricing actions, supply chain optimization and lower input costs, partially offset by geographical sales mix and higher promotional allowances.

Distribution expenses for the 2025 second quarter were $82.0 million, or 3.9 percent of net sales, compared with $87.4 million, or 4.6 percent of net sales in the 2024 second quarter.

Selling expenses for the 2025 second quarter were $196.9 million, or 9.3 percent of net sales, compared with $192.1 million, or 10.1 percent of net sales, in the 2024 second quarter.

General and administrative expenses for the 2025 second quarter were $265.9 million, or 12.6 percent of net sales, compared with $212.8 million, or 11.2 percent of net sales, for the 2024 second quarter. Stock-based compensation was $33.2 million for the 2025 second quarter, compared with $18.8 million in the 2024 second quarter. The increase in stock-based compensation for the 2025 second quarter included $7.9 million related to certain equity awards granted late in the 2025 first quarter that contain a new retirement clause. In addition, general and administrative expenses for the 2025 second quarter included $13.8 million of litigation provisions.

Operating expenses for the 2025 second quarter were $544.8 million, compared with $492.3 million in the 2024 second quarter. Adjusted operating expenses exclusive of the Alcohol Brands segment, the litigation provisions and the change in stock-based compensation (non-GAAP) for the 2025 second quarter were $497.7 million, compared with $459.3 million in the 2024 second quarter. Operating expenses as a percentage of net sales for the 2025 second quarter were 25.8 percent, compared with 25.9 percent in the 2024 second quarter. Adjusted operating expenses (non-GAAP) as a percentage of net sales for the 2025 second quarter were 24.0 percent.

(more)

Monster Beverage Corporation

3-3-3

Operating income for the 2025 second quarter increased 19.8 percent to $631.6 million, from $527.2 million in the 2024 second quarter. Adjusted operating income (non-GAAP) for the 2025 second quarter increased 21.5 percent to $667.9 million, from $549.7 million in the 2024 second quarter.

The effective tax rate for the 2025 second quarter was 24.4 percent, compared with 22.9 percent in the 2024 second quarter.

Net income for the 2025 second quarter increased 14.9 percent to $488.8 million, from $425.4 million in the 2024 second quarter. Net income for the 2025 second quarter increased 16.7 percent to $516.5 million, from $442.7 million in the 2024 second quarter, on a non-GAAP adjusted basis. Net income per diluted share for the 2025 second quarter increased 21.1 percent to $0.50, from $0.41 in the 2024 second quarter. Net income per diluted share for the 2025 second quarter, exclusive of the litigation provisions and the accelerated stock-based compensation, increased 25.2 percent to $0.51, from $0.41 in the 2024 second quarter on a non-GAAP adjusted basis. Net income per diluted share for the 2025 second quarter increased 23.0 percent to $0.52, from $0.43 in the second quarter of 2024 on a non-GAAP adjusted basis.

Hilton H. Schlosberg, Chief Executive Officer, said, "We achieved record net sales for the second quarter, exceeding the $2.0 billion mark for the first time, underscoring the strength of our brands, talent of our team, and continued appeal of our products around the world. The quarter's performance also reflects the success of our product innovations, which are resonating strongly with consumers.

"Increased household penetration and per capita consumption of energy drinks remain positive trends for the category. Our robust pipeline of innovative products remains central to our long-term growth strategy," Schlosberg added.

**2025 Six-Months Results**

Net sales for the six-months ended June 30, 2025 increased 4.4 percent to $3.97 billion, from $3.80 billion in the comparable period last year. Net changes in foreign currency exchange rates had an unfavorable impact of $62.4 million on net sales for the six-months ended June 30, 2025. Net sales on a foreign currency adjusted basis (non-GAAP) increased 6.0 percent in the six-months ended June 30, 2025. Net sales, excluding the Alcohol Brands segment, on a foreign currency adjusted basis (non-GAAP), increased 6.9 percent in the six-months ended June 30, 2025.

Gross profit as a percentage of net sales for the six-months ended June 30, 2025 was 56.1 percent, compared with 53.9 percent in the comparable period last year.

Operating expenses for the six-months ended June 30, 2025 were $1.02 billion, compared with $977.5 million in the comparable period last year.

Operating income for the six-months ended June 30, 2025 increased to $1.20 billion, from $1.07 billion in the comparable period last year.

The effective tax rate for the six-months ended June 30, 2025 was 23.9 percent, compared with 23.2 percent in the comparable period last year.

Net income for the six-months ended June 30, 2025 increased 7.4 percent to $931.8 million, from $867.4 million in the comparable period last year. Net income per diluted share for the six-months ended June 30, 2025 was $0.95, compared with $0.83 in the comparable period last year.

(more)

Monster Beverage Corporation

4-4-4

**Share Repurchase Program**

During the 2025 second quarter, no shares of the Company's common stock were repurchased. As of August 6, 2025, approximately $500.0 million remained available for repurchase under the previously authorized repurchase program.

**Investor Conference Call**

The Company will host an investor conference call today, August 7, 2025, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). The conference call will be open to all interested investors through a live audio web broadcast via the internet at <u>www.monsterbevcorp.com</u> in the "Events & Presentations" section. For those who are not able to listen to the live broadcast, the call will be archived for approximately one year on the website.

**Monster Beverage Corporation**

Based in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business except through its consolidated subsidiaries. The Company's subsidiaries develop and market energy drinks, including Monster Energy® drinks, Monster Energy Ultra® energy drinks, Juice Monster® Energy + Juice energy drinks, Java Monster® non-carbonated coffee + energy drinks, Monster Killer Brew™ Triple Shot, Rehab® Monster® non-carbonated energy drinks, Monster Energy® Nitro energy drinks, Reign® Total Body Fuel high performance energy drinks, Reign Storm® total wellness energy drinks, NOS® energy drinks, Full Throttle® energy drinks, Bang Energy® drinks, BPM® energy drinks, BU® energy drinks, Burn® energy drinks, Live+® energy drinks, Mother® energy drinks, Nalu® energy drinks, Play® and Power Play® (stylized) energy drinks, Relentless® energy drinks, Samurai® energy drinks, Ultra Energy® drinks, Predator® energy drinks and Fury® energy drinks. The Company's subsidiaries also develop and market still and sparkling waters under the Monster Tour Water® brand name. The Company's subsidiaries also develop and market craft beers, flavored malt beverages and hard seltzers under a number of brands, including Jai Alai® IPA, Dale's Pale Ale®, Dallas Blonde®, Wild Basin® hard seltzers, The Beast™, Nasty Beast® hard tea, Blind Lemon®, Blinder Lemon™ and Michi. For more information visit <u>www.monsterbevcorp.com</u>.

(more)

Monster Beverage Corporation

5-5-5

**Caution Concerning Forward-Looking Statements**

*Certain statements made in this announcement may constitute "forward-looking statements" within the meaning of the U.S. federal securities laws, as amended, regarding the expectations of management with respect to our future operating results and other future events including revenues and profitability. The Company cautions that these statements are based on management's current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside of the control of the Company, that could cause actual results and events to differ materially from the statements made herein. Such risks and uncertainties include, but are not limited to, the following: our ability to sustain the current level of sales of and/or achieve growth for our Monster Energy® Reign Total Body Fuel®, Reign Storm®, Bang Energy® and NOS® brand energy drinks and/or our other products, including our Strategic Brands and Alcohol Brands; decreased demand for our products resulting from changes in consumer preferences; the impact on our business of competitive products and pricing pressures and our ability to increase or maintain our market share as a result of actions by competitors; changes in government regulations, including U.S. trade policies; the impact of the threat or imposition of tariffs on, among other things, our supply chain, input costs, inflation or consumer demand for our products; the impact of the current U.S. presidential administration's policies on our energy drinks due to articulated concerns about sugar-sweetened beverages, particular ingredients, such as food dyes, and the "generally recognized as safe" (GRAS) process; the impact of proposed or adopted domestic and/or foreign legislation to limit or restrict the sale of energy drinks (including the prohibition of the sale of energy drinks to certain demographics, at certain establishments, in certain container sizes or pursuant to certain governmental programs, such as the Supplemental Nutrition Assistance Program (SNAP)); the impact of military conflicts, including supply chain disruptions, volatility in commodity prices, increased economic uncertainty and escalating geopolitical tensions; our extensive commercial arrangements with The Coca-Cola Company (TCCC) and, as a result, our future performance's substantial dependence on the success of our relationship with TCCC; our ability to implement our growth strategy, including expanding our business in existing and new sectors and achieving profitability within our Alcohol Brands segment; the inherent operational risks presented by the alcoholic beverage industry that may not be adequately covered by insurance or lead to litigation relating to the abuse or misuse of our products; exposure to significant liabilities due to litigation, legal or regulatory proceedings; intellectual property injunctions; unanticipated litigation concerning the Company's products; the current uncertainty and volatility in the national and global economy and changes in demand due to such economic conditions, including a slowdown in consumer spending generally or reduced demand for consumer goods; adverse publicity surrounding obesity, alcohol consumption and other health concerns related to our products, product safety and quality; changes in the price and/or availability of raw materials; other supply issues, including the availability of products and/or suitable production facilities including limitations on co-packing availability including retort production; disruption to our manufacturing facilities and operations related to climate, labor, production difficulties, capacity limitations, regulations or other causes; product distribution and placement decisions by retailers; the effects of retailer and/or bottler/distributor consolidation on our business; unilateral decisions by bottlers/distributors, buying groups, convenience chains, grocery chains, mass merchandisers, specialty chain stores, e-commerce retailers, e-commerce websites, club stores and other customers to discontinue carrying all or any of our products that they are carrying at any time, restrict the range of our products they carry, impose restrictions or limitations on the sale of our products and/or the sizes of containers for our products and/or devote less resources to the sale of our products; the imposition of new and/or increased excise sales and/or other taxes on our products; our ability to adapt to the changing retail landscape with the rapid growth in e-commerce retailers and e-commerce websites; possible recalls of our products and/or the consequences and costs of defective production; or our ability to absorb, reduce or pass on to our bottlers/distributors increases in commodity costs, including freight costs. For a more detailed discussion of these and other risks that could affect our operating results, see the Company's reports filed with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2024 and our subsequently filed quarterly report. The Company's actual results could differ materially from those contained in the forward-looking statements. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.*

\# \# \#

(tables below)

**MONSTER BEVERAGE CORPORATION AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND OTHER INFORMATION**

**FOR THE THREE- AND SIX-MONTHS ENDED JUNE 30, 2025 AND 2024**

**(In Thousands, Except Per Share Amounts) (Unaudited)**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three-Months Ended** | **Three-Months Ended** | **Six-Months Ended** | **Six-Months Ended** |
|  | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Net sales<sup>1</sup> | $2111593 | $1900597 | $3966150 | $3799695 |
| Cost of sales | 935180 | 881091 | 1741775 | 1753061 |
| Gross profit<sup>1</sup> | 1176413 | 1019506 | 2224375 | 2046634 |
| Gross profit as a percentage of net sales | 55.7% | 53.6% | 56.1% | 53.9% |
| Operating expenses | 544791 | 492343 | 1023008 | 977480 |
| Operating expenses as a percentage of net sales | 25.8% | 25.9% | 25.8% | 25.7% |
| Operating income<sup>1</sup> | 631622 | 527163 | 1201367 | 1069154 |
| Operating income as a percentage of net sales | 29.9% | 27.7% | 30.3% | 28.1% |
| Interest and other income, net | 15065 | 24376 | 23337 | 60131 |
| Income before provision for income taxes<sup>1</sup> | 646687 | 551539 | 1224704 | 1129285 |
| Provision for income taxes | 157893 | 126170 | 292917 | 261867 |
| Income taxes as a percentage of income before taxes | 24.4% | 22.9% | 23.9% | 23.2% |
| Net income | $488794 | $425369 | $931787 | $867418 |
| Net income as a percentage of net sales | 23.1% | 22.4% | 23.5% | 22.8% |
| Net income per common share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | $0.50 | $0.41 | $0.96 | $0.84 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | $0.50 | $0.41 | $0.95 | $0.83 |
| Weighted average number of shares of common stock and common stock equivalents: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 975749 | 1029268 | 974691 | 1035175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 983997 | 1037378 | 982748 | 1044363 |
| Energy drink case sales (in thousands) (in 192-ounce case equivalents) | 249336 | 212194 | 462436 | 423624 |
| Average net sales per case<sup>2</sup> | $8.29 | $8.73 | $8.39 | $8.71 |

---

*<sup>1</sup>Includes $10.0 million for both the three-months ended June 30, 2025 and 2024, related to the recognition of deferred revenue. Includes $19.9 million for both the six-months ended June 30, 2025 and 2024, related to the recognition of deferred revenue.*

*<sup>2</sup>Excludes Alcohol Brands segment and Other segment net sales.*

**MONSTER BEVERAGE CORPORATION AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**AS OF JUNE 30, 2025 AND DECEMBER 31, 2024**

**(In Thousands, Except Par Value) (Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **June 30,**<br> **2025** | **December 31,**<br> **2024** |
| **<u>ASSETS</u>** |  |  |
| CURRENT ASSETS: |  |  |
| Cash and cash equivalents | $1926927 | $1533287 |
| Short-term investments | 145253 |  |
| Accounts receivable, net | 1522702 | 1221646 |
| Inventories | 658167 | 737107 |
| Prepaid expenses and other current assets | 137257 | 107262 |
| Prepaid income taxes | 39034 | 42202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 4429340 | 3641504 |
| INVESTMENTS | 138058 |  |
| PROPERTY AND EQUIPMENT, net | 1090898 | 1047024 |
| DEFERRED INCOME TAXES, net | 184791 | 184260 |
| GOODWILL | 1331643 | 1331643 |
| OTHER INTANGIBLE ASSETS, net | 1418827 | 1414252 |
| OTHER ASSETS | 136331 | 100406 |
| **Total Assets** | $8729888 | $7719089 |
| **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** |  |  |
| CURRENT LIABILITIES: |  |  |
| Accounts payable | $489037 | $466775 |
| Accrued liabilities | 258937 | 220764 |
| Accrued promotional allowances | 360406 | 267711 |
| Deferred revenue | 49279 | 45809 |
| Accrued compensation | 72838 | 92454 |
| Income taxes payable | 28121 | 4006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 1258618 | 1097519 |
| DEFERRED REVENUE | 169763 | 179008 |
| OTHER LIABILITIES | 110203 | 110893 |
| LONG-TERM DEBT |  | 373951 |
| STOCKHOLDERS' EQUITY: |  |  |
| Common stock - $0.005 par value; 5,000,000 shares authorized; 1,129,950 shares issued and 976,398 shares outstanding as of June 30, 2025; 1,126,329 shares issued and 973,079 shares outstanding as of December 31, 2024 | 5650 | 5632 |
| Additional paid-in capital | 5285157 | 5144922 |
| Retained earnings | 8380571 | 7448784 |
| Accumulated other comprehensive loss | (91308) | (269487) |
| Common stock in treasury, at cost; 153,552 shares and 153,250 shares as of June 30, 2025 and December 31, 2024, respectively | (6388766) | (6372133) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 7191304 | 5957718 |
| **Total Liabilities and Stockholders' Equity** | $8729888 | $7719089 |

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**Reconciliation of GAAP and Non-GAAP Information**

**($ in Thousands, Except Per Share Amounts, unaudited)**

The Company believes the following non-GAAP items are useful to investors in evaluating the Company's ongoing operating and financial results. The non-GAAP items should be considered in addition to, and not in lieu of, U.S. GAAP financial measures. The non-GAAP financial measures do not represent a comprehensive basis of accounting. Therefore, our non-GAAP financial measures may not be comparable to similarly titled measures reported by other companies.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three-Months Ended** | **Three-Months Ended** | | **Six-Months Ended** | **Six-Months Ended** | |
|  | **June 30,** | **June 30,** | **Percentage**<br>**Change** | **June 30,** | **June 30,** | **Percentage**<br>**Change** |
|  | **2025** | **2024** | **25 vs. 24** | **2025** | **2024** | **25 vs. 24** |
| Net Sales | $2111593 | $1900597 | 11.1% | $3966150 | $3799695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4% |
| Currency Impact | 5027 | N/A |  | 62374 | N/A |  |
| Adjusted Net Sales – FX Neutral | $2116620 | $1900597 | 11.4% | $4028524 | $3799695 | 6.0% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three-Months Ended** | **Three-Months Ended** | | **Six-Months Ended** | **Six-Months Ended** | |
|  | **June 30,** | **June 30,** | **Percentage**<br>**Change** | **June 30,** | **June 30,** | **Percentage**<br>**Change** |
|  | **2025** | **2024** | **25 vs. 24** | **2025** | **2024** | **25 vs. 24** |
| Net Sales | $2111593 | $1900597 | 11.1% | $3966150 | $3799695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4% |
| Alcohol Brands Segment | (37971) | (41564) |  | (72674) | (97634) |  |
| Adjusted Net Sales – Less Alcohol | $2073622 | $1859033 | 11.5% | $3893476 | $3702061 | 5.2% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three-Months Ended** | **Three-Months Ended** | | **Six-Months Ended** | **Six-Months Ended** | |
|  | **June 30,** | **June 30,** | **Percentage**<br>**Change** | **June 30,** | **June 30,** | **Percentage**<br>**Change** |
|  | **2025** | **2024** | **25 vs. 24** | **2025** | **2024** | **25 vs. 24** |
| Net Sales | $2111593 | $1900597 | 11.1% | $3966150 | $3799695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4% |
| Alcohol Brands Segment | (37971) | (41564) |  | (72674) | (97634) |  |
| Currency Impact | 5027 | N/A |  | 62374 | N/A |  |
| Adjusted Net Sales – FX Neutral/Less Alcohol | $2078649 | $1859033 | 11.8% | $3955850 | $3702061 | 6.9% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three-Months Ended** | **Three-Months Ended** | | **Six-Months Ended** | **Six-Months Ended** | |
| <br>**Monster Energy® Drinks Segment** | **June 30,** | **June 30,** | **Percentage**<br>**Change** | **June 30,** | **June 30,** | **Percentage**<br>**Change** |
|  | **2025** | **2024** | **25 vs. 24** | **2025** | **2024** | **25 vs. 24** |
| Net Sales | $1937321 | $1742808 | 11.2% | $3652869 | $3471859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2% |
| Currency Impact | 4855 | N/A |  | 55643 | N/A |  |
| Adjusted Net Sales | $1942176 | $1742808 | 11.4% | $3708512 | $3471859 | 6.8% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three-Months Ended** | **Three-Months Ended** | | **Six-Months Ended** | **Six-Months Ended** | |
| <br>***Strategic Brands Segment*** | **June 30,** | **June 30,** | **Percentage**<br>**Change** | **June 30,** | **June 30,** | **Percentage**<br>**Change** |
|  | **2025** | **2024** | **25 vs. 24** | **2025** | **2024** | **25 vs. 24** |
| Net Sales | $129893 | $109222 | 18.9% | $228225 | $217666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9% |
| Currency Impact | 172 | N/A |  | 6731 | N/A |  |
| Adjusted Net Sales | $130065 | $109222 | 19.1% | $234956 | $217666 | 7.9% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three-Months Ended** | **Three-Months Ended** | | **Six-Months Ended** | **Six-Months Ended** | |
| <br>***Foreign*** | **June 30,** | **June 30,** | **Percentage**<br>**Change** | **June 30,** | **June 30,** | **Percentage**<br>**Change** |
|  | **2025** | **2024** | **25 vs. 24** | **2025** | **2024** | **25 vs. 24** |
| Net Sales | $864224 | $746019 | 15.8% | $1597426 | $1490108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2% |
| Currency Impact | 5027 | N/A |  | 62374 | N/A |  |
| Adjusted Net Sales | $869251 | $746019 | 16.5% | $1659800 | $1490108 | 11.4% |

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**Reconciliation of GAAP and Non-GAAP Information**

**($ in Thousands, Except Per Share Amounts, unaudited) - continued**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three-Months Ended** | **Three-Months Ended** | | **Six-Months Ended** | **Six-Months Ended** | |
|  | **June 30,** | **June 30,** | **Percentage**<br>**Change** | **June 30,** | **June 30,** | **Percentage**<br>**Change** |
|  | **2025** | **2024** | **25 vs. 24** | **2025** | **2024** | **25 vs. 24** |
| Operating Expenses | $544791 | $492343 | 10.7% | $1023008 | $977480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7% |
| Alcohol Brands Segment | (25368) | (33080) |  | (56126) | (56870) |  |
| Litigation Provisions | (13818) |  |  | (13818) |  |  |
| Stock-Based Compensation<sup>1</sup> | (7869) | - |  | (7869) | - |  |
| Adjusted Operating Expenses | $497736 | $459263 | 8.4% | $945195 | $920610 | 2.7% |
| Adjusted Operating Expenses as a percentage of Adjusted Net Sales – Less Alcohol | 24.0% | 24.7% |  | 24.3% | 24.9% |  |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three-Months Ended** | **Three-Months Ended** | | **Six-Months Ended** | **Six-Months Ended** | |
|  | **June 30,** | **June 30,** | **Percentage**<br>**Change** | **June 30,** | **June 30,** | **Percentage**<br>**Change** |
|  | **2025** | **2024** | **25 vs. 24** | **2025** | **2024** | **25 vs. 24** |
| Operating Income | $631622 | $527163 | 19.8% | $1201367 | $1069154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4% |
| Alcohol Brands Segment | 14632 | 22561 |  | 36122 | 28577 |  |
| Litigation Provisions | 13818 |  |  | 13818 |  |  |
| Stock-Based Compensation<sup>1</sup> | 7869 | - |  | 7869 | - |  |
| Adjusted Operating Income | $667941 | $549724 | 21.5% | $1259176 | $1097731 | 14.7% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three-Months Ended** | **Three-Months Ended** | | **Six-Months Ended** | **Six-Months Ended** | |
|  | **June 30,** | **June 30,** | **Percentage**<br>**Change** | **June 30,** | **June 30,** | **Percentage**<br>**Change** |
|  | **2025** | **2024** | **25 vs. 24** | **2025** | **2024** | **25 vs. 24** |
| Net Income | $488794 | $425369 | 14.9% | $931787 | $867418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4% |
| Alcohol Brands Segment | 11245 | 17327 |  | 27760 | 21948 |  |
| Litigation Provisions | 10389 |  |  | 10389 |  |  |
| Stock-Based Compensation<sup>1</sup> | 6048 | - |  | 6048 | - |  |
| Adjusted Net Income | $516476 | $442696 | 16.7% | $975984 | $889366 | 9.7% |

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*Adjustments in this table are net of tax*.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three-Months Ended** | **Three-Months Ended** | | **Six-Months Ended** | **Six-Months Ended** | |
|  | **June 30,** | **June 30,** | **Percentage**<br>**Change** | **June 30,** | **June 30,** | **Percentage**<br>**Change** |
|  | **2025** | **2024** | **25 vs. 24** | **2025** | **2024** | **25 vs. 24** |
| Net Income per common share - Diluted | $0.50 | $0.41 | 21.1% | $0.95 | $0.83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2% |
| Litigation Provisions | 0.01 |  |  | 0.01 |  |  |
| Stock-Based Compensation<sup>1</sup> | - | - |  | - | - |  |
| Adjusted Net Income per common share - Diluted | $0.51 | $0.41 | 25.2% | $0.96 | $0.83 | 16.2% |

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*Adjustments in this table are net of tax.*

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three-Months Ended** | **Three-Months Ended** | | **Six-Months Ended** | **Six-Months Ended** | |
|  | **June 30,** | **June 30,** | **Percentage**<br>**Change** | **June 30,** | **June 30,** | **Percentage**<br>**Change** |
|  | **2025** | **2024** | **25 vs. 24** | **2025** | **2024** | **25 vs. 24** |
| Net Income per common share - Diluted | $0.50 | $0.41 | 21.1% | $0.95 | $0.83 | 14.2% |
| Alcohol Brands Segment | 0.01 | 0.02 |  | 0.03 | 0.02 |  |
| Litigation Provisions | 0.01 |  |  | 0.01 |  |  |
| Stock-Based Compensation<sup>1</sup> | - | - |  | - | - |  |
| Adjusted Net Income per common share - Diluted | $0.52 | $0.43 | 23.0% | $0.99 | $0.85 | 16.6% |

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*Adjustments in this table are net of tax.*

*<sup>1</sup>In March 2025, the Company began issuing equity awards containing language that permits certain awards to continue vesting following a recipient's retirement (the "Retirement Clause"). The Retirement Clause is applicable for award recipients that have (i) attained the age of sixty-five, (ii) completed ten or more years of continuous service, and (iii) provided at least six months' written notice prior to the last day of service. Since recipients who meet the eligibility conditions of the Retirement Clause are not required to continue providing service following their retirement in order for certain of their awards subject to the Retirement Clause to continue vesting, the service period for such recipients is six months rather than the stated vesting period per the award.*

## Exhibit 99.2

**Exhibit 99.2**

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](tm2522843d1_ex99-2img001.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information presented herein is derived from Monster Beverage Corporation's proprietary, custom NielsenIQ database (and is not derived from our, or any industry participant's, financial statements). While such information is based on data received from NielsenIQ, the results reported in this presentation may vary from those found in publicly available syndicated sources such as NielsenIQ and IRI Circana due to differing definitions of the energy drinks category and other factors. Further, Monster Beverage Corporation has not independently verified industry data collected or provided by Nielsen and makes no representations as to its accuracy or completeness. Data provided by NielsenIQ (and other third-party sources), as well as our analysis of such data, involve a variety of assumptions and methodologies that are subject to uncertainties, and therefore you are cautioned not to give undue weight to the information contained in this presentation.  |

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| &nbsp;&nbsp;![GRAPHIC](tm2522843d1_ex99-2img002.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UNITED STATES SCANNER DATA Source: NielsenIQ period ending 07/26/2025 TNA Energy Total U.S. All Measured Channels (13-weeks) $% Change YA TNA ENERGY (Total U.S. xAOC + Conv) 13.2% MEC 8.3% MONSTER 11.0% REIGN -8.9% NOS 1.4% BANG -2.4% FULL THROTTLE 2.4% RED BULL 15.7% U.S. Convenience & Gas (4-weeks) $% Change YA $ Share $ Share Change YA TNA ENERGY 10.1% MEC 8.1% 35.8 -0.6 MONSTER 10.9% 28.6 0.2 REIGN -3.9% 2.6 -0.4 NOS 2.8% 2.4 -0.2 BANG -6.5% 1.6 -0.3 FULL THROTTLE 2.1% 0.6 0.0 RED BULL 11.2% 36.4 0.4 CELSIUS 13.6% 8.1 0.3 C4 5.2% 3.3 -0.2 ALANI NU 142.8% 3.1 1.7 GHOST 6.6% 3.0 -0.1 5-HOUR -6.8% 2.7 -0.5 ROCKSTAR -11.1% 2.4 -0.6 Coffee + Energy Category 1.8% MEC 7.6% 60.3 3.3 STARBUCKS -8.5% 38.3 -4.3 Note: Canada data reflects the 12-week period ending 07/12/2025. |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](tm2522843d1_ex99-2img003.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CANADA SCANNER DATA Source: NielsenIQ period ending 07/12/2025 TNA Energy Total Canada All Measured Channels $% Change YA $ Share $ Share Change YA TNA ENERGY 17.5% MEC 15.8% 39.4 -0.6 MONSTER 18.5% 34.8 0.3 REIGN -16.3% 2.4 -1.0 NOS -8.3% 1.0 -0.3 BANG 145.2% 0.8 0.4 FULL THROTTLE 7.0% 0.4 0.0 Note: Canada data reflects the 12-week period ending 07/12/2025. |

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| &nbsp;&nbsp;![GRAPHIC](tm2522843d1_ex99-2img004.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EMEA SCANNER DATA € % Change YA € Share % Share Change YA BELGIUM 29.8% 17.7 1.7 CZECH REPUBLIC 38.6% 25.0 4.0 DENMARK 15.2% 28.6 1.1 FRANCE 18.9% 29.1 -2.0 GREAT BRITAIN 19.8% 34.1 1.5 GREECE 9.7% 36.3 1.6 GERMANY 11.5% 17.2 1.1 ITALY 22.5% 32.4 2.9 NETHERLANDS 131.2% 13.9 7.4 NORWAY 24.6% 38.3 4.7 POLAND 30.6% 21.3 2.9 REPUBLIC OF IRELAND 28.0% 34.6 3.6 SOUTH AFRICA 14.0% 17.7 -1.0 SPAIN 9.9% 40.8 0.1 SWEDEN 14.1% 15.2 0.9 € % Change YA 2025 € Share % Change YA EGYPT 190.0% 13.1 4.3 KENYA 36.8% 43.3 6.1 NIGERIA 80.5% 23.6 1.5 Note: Germany and South Africa reflect the 13-week period ended June 29, 2025. Netherlands, Norway, Czech Republic, Belgium, Denmark, Sweden, Spain and France reflect the 13-week period ended June 15, 2025. Great Britain reflects the 13-week period ended June 14, 2025. Kenya, Nigeria and Egypt reflect the 13-week period ended June 31, 2025. Greece, Italy and Poland reflect the 13-week period ended May 25, 2025. Republic of Ireland reflects the 13-week period ended May 18, 2025. Source: L Nielsen IQ..All amounts are MEC. EMEA ALL MEASURED CHANNELS ENERGY DRINK CATEGORY GROWTH 15.4% € % Value Sales Change YA Total All Measured Channels |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](tm2522843d1_ex99-2img005.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASIA PACIFIC SCANNER DATA Note: Australia, New Zealand reflect the 13-week period ending June 29, 2025. Asia Pacific country data reflects the months of April-June 2025. Japan data source is Intage, Australia is Circana.. All other is Nielsen IQ 20.9% $% Change YA ASIA PACIFIC ALL MEASURED CHANNELS ENERGY DRINK CATEGORY GROWTH $% Change YA $ Share $ Share Change YA TOTAL ENERGY 13.5% MONSTER 27.1% 22.5% 2.4 MOTHER -11.1% 8.3% -2.3 A U S T R A L I A $% Change YA $ Share $ Share Change YA TOTAL ENERGY 16.3% MONSTER 16.2% 15.1 0.0 MOTHER 2.6% 5.6 -0.7 LIVE+ -1.1% 4.4 -0.8 $% Change YA $ Share $ Share Change YA TOTAL ENERGY 5.9% MONSTER 3.7% 56.6 -1.2 $% Change YA $ Share $ Share Change YA TOTAL ENERGY 12.2% MONSTER 8.5% 51.4 -1.7 N E W Z E A L A N D S O U T H K O R E A J A PA N Total All Measured Channels |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](tm2522843d1_ex99-2img006.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LATIN AMERICA SCANNER DATA 13.9% $% Change YA LATIN AMERICA ALL MEASURED CHANNELS ENERGY DRINK CATEGORY GROWTH $% Change YA $ Share $ Share Change YA TOTAL ENERGY 4.7% MONSTER 14.2% 31.4 2.6 PREDATOR 13.4% 6.3 0.5 M E X I C O $% Change YA $ Share $ Share Change YA TOTAL ENERGY 47.6% MONSTER 34.1% 52.4 -5.3 $% Change YA $ Share $ Share Change YA TOTAL ENERGY 3.8% MONSTER 0.7% 39.4 -1.2 C H I L E A R G E N T I N A Note: Latin America data reflects 3 months ending June 2025. All tracked markets are FX neutral. Total All Measured Channels $% Change YA $ Share $ Share Change YA TOTAL ENERGY 20.5% MONSTER 21.2% 43.3 0.3 B R A Z I L |

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