RE:Kevin Harrington’s involvement with Celsius holdings Celsius Holdings, Inc. is a publicly traded company that reports its financial results to the Securities and Exchange Commission (SEC). Here is a brief overview of the company's financials based on its most recent quarterly report as of September 30, 2021:
Revenue: For the third quarter of 2021, Celsius reported net revenues of $111.1 million, an increase of 16.6% compared to the same period in the previous year.
Gross Profit: Gross profit for the quarter was $44.5 million, an increase of 15.3% compared to the third quarter of 2020. Gross profit margin was 40.0% for the quarter, down slightly from 40.1% in the previous year.
Net Income: Celsius reported net income of $9.3 million for the quarter, compared to a net loss of $0.2 million in the same period in the previous year. The increase in net income was driven by strong revenue growth and improved gross profit margins.
Earnings Per Share: Earnings per share for the quarter were $0.17 per share, compared to a loss of $0.00 per share in the third quarter of 2020.
Cash and Equivalents: Celsius Holdings had cash and equivalents of $88.4 million as of September 30, 2021, compared to $41.3 million as of December 31, 2020. This increase was primarily due to the issuance of new common stock in a public offering in July 2021.
Overall, Celsius Holdings has reported strong financial results in recent quarters, with solid revenue growth and improved profitability. The company's balance sheet also appears to be strong, with a significant cash position that could support future growth initiatives.