Celsius Holdings, Inc. (NASDAQ: CELH) reported Q3 EPS of $0.06, $0.04 better than the analyst estimate of $0.02. Revenue for the quarter came in at $36.8 million versus the consensus estimate of $33 million.

• Revenue of $36.8 million, up 80% from $20.4 million in the year ago quarter.
  • North American revenue increased 60% to $26.9 million, up from $16.8 million in the year ago quarter
    • Driven by continued strong double-digit growth in traditional channels of trade and expansion with world class retail and distribution partners as well as 111% growth in ecommerce sales, off-set by softness in sales from the Fitness channel (down 23% from the prior year) affected by the health crisis and the related adverse impact to the macro-economic environment
  • International revenue increased 172% to $10.0 million, from $3.7 million in the year ago quarter
    • Nordic revenues increased by 182% to $9.5 million due to consolidation of results from the acquisition of our Nordic partner in October of 2019
    • Revenues from other International markets totaled $420,000 which included royalty revenues from China of $192,000 and $228,000 from all other international markets (e.g., Malaysia, Hong Kong, Australia, Caribbean, etc.)
• Gross profit of $17.5 million, up 103% from $8.6 million in the year ago quarter
  • Gross profit margins total 47.6% (53.7% excluding outbound freight) of revenues
• Net Profit to common stockholders of approximately $4.8 million compared to $960,000 in the year ago quarter
• Non-GAAP Adjusted EBITDA* excluding one-time charges totaled a profit of approximately $6.9 million compared to $2.6 million in the year ago quarter

"During the third quarter, Celsius continued to position the company for outpaced revenue growth through the build out of our national DSD distribution platform, new national retail accounts and first mover marketing initiatives. Despite the material closure of locations in both our vending and health and fitness channels, which cumulatively represented approximately 23% of North American revenue in our 2019 third quarter, North American revenue growth accelerated 27%, from the 47% revenue growth recognized in the third quarter of 2019, to over 60% in the current quarter," said John Fieldly, President and Chief Executive Officer.

"Operationally, third-quarter results were an all-time record for the company, including record revenue both in North America and in the Nordics, gross profit, gross margins, operating income and cash flow from operations. Moving through the fourth quarter and into 2021, the company expects a continuation of the accelerated DSD transition with our retail partners, further expansion into the underpenetrated convenience channel and new innovative flavors across expanded geographic markets."

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