| Celsius Holdings, Inc. | |
| Former Name: | Vector Ventures, Inc. |
| Type: | Public |
| Isin: | US15118V2079 |
| Industry: | Beverage |
| Key People: | John Fieldly (President & CEO) |
| Revenue Year: | 2023 |
| Operating Income: | US$233 million |
| Income Year: | 2023 |
| Net Income: | US$227 million |
| Net Income Year: | 2023 |
| Assets: | US$1.54 billion |
| Assets Year: | 2023 |
| Num Employees: | 765 |
| Num Employees Year: | 2023 |
| Footnotes: | [1] [2] [3] |
Celsius Holdings, Inc. is an American company that produces a range of fitness and energy beverages under the brand name Celsius. The company's products are marketed as healthy, a strategy that the CEO credits the brand's success to.[4]
The company was founded in 2004 by Steve Haley. In 2009 the company released their first energy drink in Sweden and ended with a revenue of 5.86 million.[5] By 2012, the company had a market capitalization of approximately $5 million. Five years later, in 2017, Celsius was listed on the Nasdaq.[6] By the end of that year, Celsius Holdings had an annual revenue of almost $36 million.[7]
As of August 2024, Celsius holds an 11% market share of the $19 billion energy drink industry, generating over $1.3 billion in revenue and a market capitalization of roughly $9 billion. The company's success is attributed to its alignment with current consumer preferences, such as increased caffeine content, appeal to health-conscious consumers, and a focus on fruit-flavored products rather than chemically-tasting alternatives.[8]
Celsius has different product lines that contain different caffeine levels.[9]
| Celsius Live Fit | 200 mg | 10 kcal | 00 g | |
| Celsius Essentials | 270 mg | 10 kcal | 00 g | |
| Celsius On-The-Go | 200 mg | 10 kcal | 01 g |
| Celsius BCAA+ Energy | 100 mg | 15 kcal | 02 g | |
| Celsius with Stevia | 200 mg | 10 kcal | 10 g |
| Celsius Energy Drink | |
| Carbs: | 0 mg |
| Fat: | 0 mg |
| Protein: | 0 mg |
| Sodium Mg: | 5 mg |
| Calcium Mg: | 50 mg |
| Vitc Mg: | 60 mg |
| Riboflavin Mg: | 1.7 mg |
| Niacin Mg: | 20 mg |
| Vitb6 Ug: | 2 mg |
| Vitb12 Ug: | 6 mcg |
| Pantothenic Mg: | 10 mg |
| Kcal: | 10 |
| Caffeine: | 200 mg |
Celsius contains green tea extract, which contains epigallocatechin gallate (EGCG), an antioxidant. Guarana seed extract further increases caffeine content. Ginger root is used as both a flavoring agent and for anti-inflammatory effects.[10]
Celsius contains 100 mg – 270 mg of caffeine, depending on the product line and size of the can. The varying caffeine content information is located on the can of each Celsius drink sold.
Health professionals suggest you generally drink no more than 400 mg of caffeine per day.[11] Ingesting more than 400 mg can result in symptoms such as trouble falling asleep, jittery or anxious behavior, headache, stomach pain, nausea, increased heart rate, and negative mood changes.
In 2021, the NCAA banned Celsius use due to it containing Ginseng, guarana, L-carnitine, and taurine, all of which are on the NCAA banned substances list,[12] as they are performance-enhancing substances.
Carl DeSantis invested in the early months of Celsius Holdings in 2004.[13] DeSantis continued to invest throughout the company's development because the product line interested him. In 2010, a $3 million dollar credit line was invested in Celsius for an advertising campaign to promote the new products, but the money did not create the outcome expected. As a stakeholder, he provided advice to the Celsius team and assisted with leadership changes in 2012 when the company was not meeting the expected business goals. DeSantis died having earned $1.2 billion dollars from a 31% stake in Celsius Holdings.
PepsiCo invested $550 million in Celsius Holdings,[14] a 8.5% minority stake.[15]
Celsius Holdings partnered with Learfield, a collegiate sports marketing company, to form partnerships with college students.[16] In 2023, the brand began partnering with college football quarterbacks, Bo Nix, from the University of Oregon and Michael Penix Jr., of the University of Washington.
In January 2024, Celsius began partnering with college basketball basketball players JuJu Watkins, Jared McCain, Cody Williams, and Kwame Evans Jr..[17]
Celsius University was created in 2022 as a student ambassador program, paying students to promote the product line on college campuses.[18]
Early in the company's history, it began sponsoring motorsports entries through series such as NASCAR and Formula One. As of 2024, the company sponsors Kaulig Racing, Spire Motorsports, Jordan Anderson Racing, Tricon Garage in NASCAR, and in Formula 1.[19]
Celsius Holdings faced a class-action lawsuit in November 2022 for allegedly misleading customers with the ingredient citric acid being added as a flavor instead of a preservative.[20] Celsius Holdings claimed that citric acid does not serve as a preservative, but as flavoring for their beverage. The lawsuit was settled outside of the court between the parties involved, so there was no ruling against Celsius Holdings.[21] The settlement agreed included that any class member who purchased a Celsius drink for personal purposes to submit a claim for money back. Upon submission of a claim, you can receive up to $250 for $1 per Celsius drink, or $5 per package of 14 Celsius drinks if you have a receipt. Without a receipt, you can request up to $20 per household.
Celsius Holdings faced a lawsuit in 2021 with Tramar Lacel Dillard (Flo Rida) for a breach of contract when the company allegedly withheld details about revenue.[22] Flo Rida was a contracted brand ambassador from 2014 to 2018 which brought Celsius to concerts and events to help expand the brand. The Florida court ruled in Flo Rida's favor that Celsius Holdings was in breach of contract as Flo Rida's publicity assisted in the company's growth. Flo Rida was awarded $82.6 million in January 2023 due to the lawsuit.[23]