Fitness energy drink brand Celsius closed out 2020 on a high note, reporting a 48% increase in revenue during Q4 on top of 74% growth for the full year, according to an earnings report released yesterday.
The Florida-based, publicly traded brand has been on the market for over a decade, yet has experienced some of its strongest growth in recent years. Dollar sales were up 93.3% in the two week period ended February 27 to $101.4 million, only a slight deceleration from 98.7% growth in the four-weeks and up from 89.7% growth in the 12-weeks. Those figures do not include non-tracked channels including fitness and ecommerce.
Domestic revenue increased 66% year-over-year in Q4 2020, which the company attributed to strong double-digit growth in retail, and 60% for the full year ($95.5 million). In the fitness channel, Celsius grew sales 22% year-over-year for the quarter but still finished the 2020 down 6% as COVID-19 forced the closure of gyms and health studios. Gross margin percentage increased around 7 points.
Outside the U.S., Celsius reported a 131% rise in revenue for the full year, though just 3% for Q4. International sales represents around $35 million out of the company’s overall full-year revenue of $130.7 million.
As the brand carves out a more competitive position in the energy drink category, it announced last month that former Red Bull North America EVP of sales Alexandre Ruberti had joined its board of directors.
Beyond the financial figures, the earnings report also framed Celsius’ current trajectory through other metrics. The brand’s U.S. store count increased by 18,000 from 2019, now standing at 82,000 locations and growing, while its DSD network includes over 150 regional partners covering 85% of major metro markets. As part of that push, the company has transitioned hundreds of locations of its major chain partners — Target, CVS, Walmart and 7-Eleven, to be specific — in New York City from wholesale to regional powerhouse Big Geyser, with more planned to make the switch in 2021.
To support those new partners, Celsius has launched a branded cooler program which has thus far placed 200 of a planned 1,000 coolers in key markets and retail locations. Early returns have been positive, to the tune of a 200% increase in same-store sales.
However, the company also shared that it is preparing to move outside of coolers and into food products with a new line of protein bars set to launch on Amazon in Q2.