Celsius Holdings, Inc. (NASDAQ: CELH) reported Q1 EPS of $0.19, $0.22 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $14.49 million versus the consensus estimate of $14.45 million.

"In the First Quarter, Celsius continued to set new revenue records despite the $1.3 million reduction in revenue from China due to the revenue model transition to a royalty license and repayment of investment agreement. Continuing operations, excluding China revenue, increased 35% during the first quarter," said John Fieldly, President and Chief Executive Officer. "Excluding the recognition of $12.3 million below our operating line, accounting for the repayment of invested capital in China, our record growth is even more impressive as we achieve these metrics while driving positive adjusted EBITDA, which is now more evident with the transition of our China business model."

"As quoted in our year-end earnings release and further validated by our first quarter results, we are increasingly optimistic about our prospects for future growth at accelerated rates while operating near a cash flow breakeven range. The first quarter is the first true quarter without investments in the China market since launch and the company expects increased operating leverage driving tangible cash flow as we continue to gain scale. Market demand with both retailers and distribution partners continues to accelerate, supported by the national roll-out in both Target and CVS, as well as new customers such as Rite-Aid. On the distribution front, we continue to add regional partners in the Anheuser-Busch, PepsiCo, Keurig Dr. Pepper, MillerCoors networks and also added Big Geyser, New York's Largest Independent Non-Alcoholic Beverage Distributor subsequent to quarter end. We are rapidly gaining scale with national retailers and regional DSD partners in key markets, where we are confident in our ability to execute driving further awareness, trial, and availability," concluded Fieldly.

For earnings history and earnings-related data on Celsius Holdings, Inc. (CELH) click here.