Second Quarter 2026
Filed Aug 6, 2026Scaled Multi-Brand Portfolio Delivers Record Second Quarter Revenue of $818 Million
Revenue increased 11% to $817.9 million, supported by Alani Nu and Rockstar Energy, but gross margin declined to 48.1%, net income attributable to common shareholders fell 57%, and adjusted diluted EPS declined 23% as CELSIUS brand revenue and retail sales decreased.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| RevenueGAAP | $817.9 million | – | 11% |
| North America revenueGAAP | $790.7 million | – | 11% |
| International revenueGAAP | $27.2 million | – | 10% |
| Gross profitGAAP | $393.7 million | – | 3.4% |
| Gross marginGAAP | 48.1% | – | -340 BPS |
| Selling, general and administrative expensesGAAP | $237.6 million | – | – |
| Selling, general and administrative expenses as a percentage of revenueGAAP | 29.0% of revenue | – | – |
| Adjusted selling, general and administrative expenses as a percentage of revenuenon-GAAP | 28.6% of revenue | – | – |
| Net incomeGAAP | $55.3 million | – | (45)% |
| Net income attributable to common shareholdersGAAP | $36.4 million | – | (57)% |
| Diluted EPSGAAP | $0.14 | – | (58)% |
| Adjusted diluted EPSnon-GAAP | $0.36 | – | (23)% |
| Adjusted EBITDAnon-GAAP | $184.2 million | – | (12)% |
| Celsius Holdings portfolio retail sales in U.S. tracked channelsother | 31.0% | – | 31.0% |
| Celsius Holdings portfolio U.S. RTD energy dollar shareother | approximate 20.1% dollar share | – | – |
| CELSIUS brand retail salesother | (2)% | – | (2)% |
| CELSIUS brand U.S. RTD energy dollar shareother | approximate 9.5% dollar share | – | – |
| CELSIUS remaining-assortment dollars per point of distributionother | approximately 16% | approximately 16% | – |
| Alani Nu retail salesother | 55.7% | – | 55.7% |
| Alani Nu U.S. RTD energy dollar shareother | approximate 8.7% dollar share | – | – |
| Rockstar Energy retail salesother | (13)% | – | (13)% |
| Rockstar Energy U.S. RTD energy dollar shareother | approximate 1.9% dollar share | – | – |
| First-half revenueGAAP | $1,600.5 million | – | 50% |
| First-half North America revenueGAAP | $1,538.0 million | – | 51% |
| First-half international revenueGAAP | $62.5 million | – | 32% |
| First-half gross profitGAAP | $771.8 million | – | – |
| First-half gross marginGAAP | 48.2% | – | -356 BPS |
| First-half selling, general and administrative expensesGAAP | $472.2 million | – | 31.8% |
| First-half selling, general and administrative expenses as a percentage of revenueGAAP | 29.5% of revenue | – | – |
| First-half adjusted selling, general and administrative expenses as a percentage of revenuenon-GAAP | 27.5% of revenue | – | – |
| First-half net incomeGAAP | $165.4 million | – | 15% |
| First-half net income attributable to common shareholdersGAAP | $121.4 million | – | 1% |
| First-half diluted EPSGAAP | $0.47 | – | (2)% |
| First-half adjusted diluted EPSnon-GAAP | $0.77 | – | 19% |
| First-half adjusted EBITDAnon-GAAP | $379.6 million | – | 36% |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| North AmericaRevenue growth reflected Alani Nu expansion into the PepsiCo distribution network and the Rockstar Energy acquisition. | $790.7 million | – | 11% |
| InternationalGrowth reflected strong momentum across established Nordic markets and expansion markets including Iberia, the UK, Ireland, France, Australia, New Zealand and Benelux. | $27.2 million | – | 10% |
| Alani NuStrong consumer demand, increased orders from the largest customer as the brand transitioned into the PepsiCo distribution system, and the limited-time Purple Cotton Candy flavor. | approximately $364.4 million | – | – |
| Rockstar EnergyRockstar Energy contributed revenue during the second quarter of 2026 following the completion of its integration. | approximately $66.5 million | – | – |
Capital returns
- approximately $100.4 million of share repurchases during the second quarter of 2026
- approximately $124.5 million of share repurchases during the first half of 2026
What drove it
- Alani Nu generated sales of approximately $364.4 million during the quarter.
- Rockstar Energy contributed approximately $66.5 million in revenue during the second quarter of 2026.
- Celsius Holdings' portfolio contributed approximately 30% of the zero-sugar U.S. energy category's $640 million growth during the second quarter of 2026.
- Alani Nu retail sales increased 55.7% year over year for the 13-week period ended June 28, 2026, driven by continued innovation, expanded distribution and continued adoption by new consumers.
- Gross-margin improvements from outbound freight costs and integration of recent acquisitions into the supply chain offset ongoing inflation in commodity costs, primarily aluminum.
- Selling, general and administrative expenses decreased $0.3 million, while selling, general and administrative expenses represented 29.0% of revenue compared to 32.2% for the same period in 2025.
Concerns
- Gross profit margin decreased to 48.1% from 51.5%, primarily driven by higher promotional and incentive activity as a percentage of revenue and channel mix.
- Net income attributable to common shareholders decreased 57% to $36.4 million, diluted EPS decreased 58% to $0.14, and adjusted diluted EPS decreased 23% to $0.36.
- CELSIUS brand revenue decreased by approximately 11.7%, reflecting increased trade and promotional investment, inventory-rebalancing shipment timing, softness in the club channel, moderated innovation activity and SKU optimization.
- CELSIUS brand retail sales decreased 2% year over year for the 13-week period ended June 28, 2026, and Rockstar Energy retail sales decreased 13% year over year.
- The company stated that margin initiative benefits are being partially offset by rising commodity costs.
What to watch
- Progress in returning brand CELSIUS to sustainable growth through assortment productivity and execution initiatives.
- Realization of targeted space gains following SKU optimization, including cold vault and permanent cooler placements requiring retailer-level capital investment and labor.
- Margin expansion from the orbit model, freight optimization, raw-material alignment, revenue growth-management capabilities and price-pack architecture.
- The impact of rising commodity costs, primarily aluminum, on gross margin.
- Continued Alani Nu growth following its transition into the PepsiCo distribution system and continued integration of Rockstar Energy.
Analysis
Celsius Holdings reported record second-quarter revenue of $817.9 million, up 11% from $739.3 million. North America revenue increased 11% to $790.7 million and international revenue increased 10% to $27.2 million. The quarter's top-line growth was led by Alani Nu, which generated approximately $364.4 million of sales, and Rockstar Energy, which contributed approximately $66.5 million of revenue. For the first half, revenue increased 50% to $1,600.5 million, reflecting the Rockstar Energy acquisition and Alani Nu's expansion into the PepsiCo distribution network.
Brand-level trends were uneven. CELSIUS brand revenue decreased by approximately 11.7%, while CELSIUS brand retail sales decreased 2% year over year for the 13-week period ended June 28, 2026. Management attributed the decline to higher trade and promotional investment, inventory-rebalancing shipment timing, club-channel softness, moderated innovation activity and SKU optimization. The remaining CELSIUS assortment showed improved productivity, with dollars per point of distribution increasing approximately 16% in the second quarter compared to the first quarter, despite approximately 7% fewer points of distribution. Alani Nu retail sales increased 55.7%, whereas Rockstar Energy retail sales decreased 13%.
Profitability did not keep pace with revenue. Gross profit increased 3.4% to $393.7 million, but gross margin declined to 48.1% from 51.5%, a decrease of 340 BPS. The company cited promotional and incentive activity and channel mix, while noting continuing commodity inflation, primarily aluminum. Net income declined 45% to $55.3 million, net income attributable to common shareholders declined 57% to $36.4 million, and adjusted EBITDA declined 12% to $184.2 million. GAAP diluted EPS was $0.14 compared with $0.33, and adjusted diluted EPS was $0.36 compared with $0.47.
Expense leverage was a positive offset. Selling, general and administrative expenses declined $0.3 million to $237.6 million, and the expense ratio improved to 29.0% of revenue from 32.2%. Management said integration improvements, outbound freight costs and the absence of Alani Nu inventory step-up expense partially offset margin pressures. It also said transition costs and COGS write-offs associated with moving Rockstar into its purchasing structure were largely behind it.
Capital allocation included approximately $100.4 million of share repurchases in the second quarter and approximately $124.5 million during the first half. No forward financial guidance was included in the provided filing text. The key reported operational issue is whether CELSIUS assortment optimization and planned space gains can restore brand growth, while the key earnings issue is whether freight, supply-chain, revenue-management and mix initiatives can expand margins despite commodity-cost pressure.
Management, verbatim
During the second quarter of 2026, we made meaningful progress in advancing Celsius Holdings as a scaled portfolio of leading brands. We delivered a double-digit increase in second quarter revenue, completing the Rockstar integration, and maintained gross margin near first-quarter levels despite a challenging commodity environment. With CELSIUS, Alani Nu ® , and Rockstar Energy ® , we're building a scaled Modern Energy portfolio with distinct roles, attracting new consumers and expanding consumption occasions. As it relates to our optimization project, we remain focused on improving assortment productivity and strengthening execution to return brand CELSIUS to sustainable growth. We are confident the actions we are taking will strengthen the brand, and with a broader, more diversified portfolio, we believe we are well positioned to drive durable, long-term growth. With two billion-dollar brands and roughly one in five energy drinks sold in the United States coming from our portfolio, we are a key growth engine for the category, and we're still early in what this platform can do.
John Fieldly, Chairman and CEO of Celsius Holdings
Not in the filing
stated, not guessed- Operating income or loss
- Operating margin
- Income tax expense or benefit and tax rate
- Cash and cash equivalents
- Debt
- Operating cash flow
- Free cash flow
- Capital expenditures
- Dividend information
- Forward revenue guidance
- Forward gross-margin guidance
- Forward operating-expense guidance
- Forward tax-rate guidance
- Prior-quarter figures for revenue, net income, diluted EPS, adjusted diluted EPS and adjusted EBITDA
- Alani Nu and Rockstar Energy prior-year revenue comparisons
- CELSIUS brand revenue amount
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.