Celsius(CELH)2024-11-06 11:01Revenue Performance - Revenue for Q3 2024 was approximately $265.7 million, a decrease of 31% compared to $384.8 million in Q3 2023[2] - Year-to-date revenue increased by 5% to $1.02 billion compared to $970.6 million for the same period last year[6] - International sales rose by 37% year-over-year to $18.6 million in Q3 2024, up from $13.6 million in Q3 2023[3] - Revenue for the three months ended September 30, 2024, was $265,748, a decrease of 30.9% compared to $384,757 in the same period of 2023[19] Profitability Metrics - Gross profit margin for Q3 2024 was 46.0%, a decrease of 440 basis points from 50.4% in Q3 2023[4] - Net income for Q3 2024 was $6.4 million, down 92% from $83.9 million in Q3 2023[2] - Diluted EPS for Q3 2024 was $(0.00), compared to $0.30 for the prior-year period[5] - Gross profit for the three months ended September 30, 2024, was $122,229, down 37.0% from $194,082 in the prior year[19] - Net income for the three months ended September 30, 2024, was $6,356, a decline of 92.4% compared to $83,949 in the same quarter of 2023[19] - Adjusted EBITDA for the three months ended September 30, 2024, was $(696), compared to $98,395 in the same period of 2023[21] - Adjusted EBITDA Margin for the three months ended September 30, 2024, was 1.7%, down from 26.9% in the prior year[21] - Net income attributable to common stockholders for the three months ended September 30, 2024, was $(557), a significant decrease from $70,372 in 2023[19] Expenses and Other Financials - Selling, general and administrative expenses increased to $125,443 for the three months ended September 30, 2024, up 30.2% from $96,385 in 2023[19] - Total other income for the three months ended September 30, 2024, was $11,389, an increase of 61.8% from $7,048 in the same period of 2023[19] - The provision for income taxes for the three months ended September 30, 2024, was $(1,819), compared to $(20,796) in the same quarter of 2023[19] - The company reported a foreign currency translation adjustment of $2,025 for the three months ended September 30, 2024, compared to a loss of $(664) in the same period of 2023[19] Strategic Initiatives - The acquisition of Big Beverages is expected to enhance innovation and manufacturing capabilities[11] - Celsius introduced two new flavors in the CELSIUS ESSENTIALS line and plans to launch additional flavors in 2025[10] - Sales to Costco increased by 15% in Q3 2024, while total club channel sales decreased by 4% to $60.5 million[8] - Celsius' energy drink category dollar share in MULO Plus with Convenience was 11.6%, an increase of 0.1 points year-over-year[8]