Celsius Holdings
(NASDAQ:CELH)

Celsius Holdings, Inc. develops, markets, distributes, and sells functional calorie-burning fitness beverages in the United States and internationally. The company offers its beverages in various flavors, including carbonated orange, wild berry, cola, grape, kiwi-guava, and watermelon; and non-carbo...

Website: https://www.celsiusholdingsinc.com/

Founded: 2004

Full Time Employees: 120

CEO: John Fieldy

Sector: Consumer Defensive

Industry: Beverages-Non-Alcoholic

Consumer Defensive Beverages

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Bull Thesis:

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Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31

revenue	721,628,000	725,106,000	739,259,000	329,276,000	332,197,000	265,748,000	401,977,000	355,708,000	347,435,000	384,757,000	325,883,000	259,939,000	177,964,000	188,233,000	154,020,000	133,388,000	104,254,257	94,909,100	65,073,323	50,034,879	35,664,512	36,839,149	30,037,227	28,184,889	24,115,120	20,423,847	16,121,929	14,485,650	14,680,367	16,565,316	9,298,327	12,059,976	9,140,941	10,785,796	10,236,898	6,000,429	6,252,890	6,657,700
yoy	117.23%	172.85%	83.91%	-7.43%	-4.39%	-30.93%	23.35%	36.84%	95.23%	104.40%	111.58%	94.87%	70.70%	98.33%	136.69%	166.59%	192.32%	157.63%	116.64%	77.52%	47.89%	80.37%	86.31%	94.57%	64.27%	23.29%	73.39%	20.11%	60.60%	53.58%	-9.17%	100.99%	46.19%	62.00%
qoq	-0.48%	-1.91%	124.51%	-0.88%	25.00%	-33.89%	13.01%	2.38%	-9.70%	18.07%	25.37%	46.06%	-5.46%	22.21%	15.47%	27.94%	9.85%	45.85%	30.06%	40.29%	-3.19%	22.64%	6.57%	16.88%	18.07%	26.68%	11.30%	-1.33%	-11.38%	78.15%	-22.90%	31.93%	-15.25%	5.36%	70.60%	-4.04%	-6.08%
cost of revenue[2]	379,798,000	352,827,000
gross profit	341,830,000	372,279,000	380,851,000	172,373,000	166,673,000	122,229,000	209,098,000	182,207,000	166,245,000	194,082,000	158,994,000	113,818,000	79,007,000	78,650,000	59,319,000	53,894,000	41,646,688	37,693,372	28,249,369	20,579,095	17,425,014	17,533,733	13,012,815	13,002,183	10,092,355	8,622,369	6,866,031	5,721,058	5,444,494	6,870,384	3,981,819	4,763,681	3,806,352	4,674,898	4,566,621	2,382,806	2,561,039	2,884,752	806,531	-1,630,498	27,475	1,862,061	836,321	1,311,667	576,449	489,750	426,887	174,237	-20,809	368,788	234,487
yoy	105.09%	204.58%	82.14%	-5.40%	0.26%	-37.02%	31.51%	60.09%	110.42%	146.77%	168.03%	111.19%	89.71%	108.66%	109.98%	161.89%	139.01%	114.98%	117.09%	58.27%	72.66%	103.35%	89.52%	127.27%	85.37%	25.50%	72.43%	20.10%	43.04%	46.96%	-12.81%	99.92%	48.63%	62.06%	466.21%	-246.14%	9221.34%	54.92%	-3.56%	-224.31%	-95.23%	280.21%	95.91%	652.81%	-2870.19%	32.80%	82.05%
qoq	-8.18%	-2.25%	120.95%	3.42%	36.36%	-41.54%	14.76%	9.60%	-14.34%	22.07%	39.69%	44.06%	0.45%	32.59%	10.07%	29.41%	10.49%	33.43%	37.27%	18.10%	-0.62%	34.74%	0.08%	28.83%	17.05%	25.58%	20.01%	5.08%	-20.75%	72.54%	-16.41%	25.15%	-18.58%	2.37%	91.65%	-6.96%	-11.22%	257.67%	-149.47%	-6034.48%	-98.52%	122.65%	-36.24%	127.54%	17.70%	14.73%	145.00%	-937.32%	-105.64%	57.27%
gross margin %	47.37%	51.34%	51.52%	52.35%	50.17%	45.99%	52.02%	51.22%	47.85%	50.44%	48.79%	43.79%	44.39%	41.78%	38.51%	40.40%	39.95%	39.72%	43.41%	41.13%	48.86%	47.60%	43.32%	46.13%	41.85%	42.22%	42.59%	39.49%	37.09%	41.47%	42.82%	39.50%	41.64%	43.34%	44.61%	39.71%	40.96%	43.33%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%
selling, general and administrative expenses[3]	235,011,000	205,571,000
distributor termination fees	80,754,000	246,707,000
income from operations	26,065,000	-79,999,000	142,965,000	52,031,000	-18,496,000	-3,214,000	94,248,000	83,190,000	58,943,000	97,697,000	64,813,000	44,913,000	-32,746,000	-147,599,000	12,430,000	10,116,000	-12,434,021	3,932,280	3,598,849	813,376	463,192	4,708,299	1,491,226	1,248,283	-1,321,613	1,503,871	-1,128,654	-502,047	-406,812	-4,088,782	-3,306,905	-2,838,245	-5,169,391	-1,586,583	509,251	-1,833,244	-368,137	67,450	-398,348	-3,317,089	-5,000,145	-2,994,902	-5,273,309	-1,307,511	-2,667,661	-1,413,450	-1,148,933		-1,811,633	-759,839	-1,078,634
yoy	-240.92%	2389.08%	51.69%	-37.46%	-131.38%	-103.29%	45.42%	85.22%	-280.00%	-166.19%	421.42%	343.98%	163.36%	-3853.52%	245.39%	1143.71%	-2784.42%	-16.48%	141.33%	-34.84%	-135.05%	213.08%	-232.12%	-348.64%	224.87%	-136.78%	-65.87%	-82.31%	-92.13%	157.71%	-749.37%	54.82%	1304.20%	-2452.24%	-227.84%	-44.73%	-92.64%	-102.25%	-92.45%	153.69%	87.44%	111.89%	358.97%		47.25%	86.02%	6.52%
qoq	-132.58%	-155.96%	174.77%	-381.31%	475.48%	-103.41%	13.29%	41.14%	-39.67%	50.74%	44.31%	-237.16%	-77.81%	-1287.44%	22.87%	-181.36%	-416.20%	9.26%	342.46%	75.60%	-90.16%	215.73%	19.46%	-194.45%	-187.88%	-233.24%	124.81%	23.41%	-90.05%	23.64%	16.51%	-45.10%	225.82%	-411.55%	-127.78%	397.98%	-645.79%	-116.93%	-87.99%	-33.66%	66.96%	-43.21%	303.31%	-50.99%	88.73%	23.02%			138.42%	-29.56%
operating margin %	3.61%	-11.03%	19.34%	15.80%	-5.57%	-1.21%	23.45%	23.39%	16.97%	25.39%	19.89%	17.28%	-18.40%	-78.41%	8.07%	7.58%	-11.93%	4.14%	5.53%	1.63%	1.30%	12.78%	4.96%	4.43%	-5.48%	7.36%	-7.00%	-3.47%	-2.77%	-24.68%	-35.56%	-23.53%	-56.55%	-14.71%	4.97%	-30.55%	-5.89%	1.01%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	-Infinity%	-Infinity%	-Infinity%
other income:
interest income	4,354,000	4,847,000	4,038,000	7,846,000			10,647,000	9,612,000	8,835,000	7,197,000	5,545,000	4,924,000	3,899,000	1,396,000											72,017.5	96,300	95,377
interest expense	-12,654,000	-18,243,000	-18,080,000																					-136,018					-51,465	-42,932	-41,753	-38,259	-38,421	-35,661	-38,478	-48,056	-57,500	-57,500										71,364.75	27,507	169,168
other, net [4]	4,841,000	5,364,000
total other income	-3,459,000	-8,032,000	-13,500,000	8,962,000	8,279,000	11,389,000	10,383,000	9,271,000	8,842,000	7,048,000	4,642,000	4,851,000			-462,000		250,196	-352,670	361,495		1,318,846	45,304	67,108	-702,232	148,531	-542,829	-344,641	12,158,641			-41,753	-38,259	-38,421	-35,661	-38,478	-48,056	-51,405	-57,500		161,824.5	36,741	31,382	579,175			26,544	28,997	73,095.5	32,592	156,580	103,210
net income before provision for income taxes	22,606,000	-88,031,000	129,465,000	60,993,000	-10,217,000	8,175,000	104,631,000
provision for income taxes	2,133,000	27,017,000	-29,610,000	-16,574,000	-8,659,000	-1,819,000	-24,848,000
net income	24,739,000	-61,014,000	99,855,000	44,419,000	-18,876,000	6,356,000	79,783,000	77,811,000	50,116,000	83,949,000	51,509,000	41,227,000	-21,223,000	-181,896,000	9,158,000	6,679,000	-3,354,286	2,745,791	3,960,344	585,424	1,665,861	4,753,603	1,558,334	546,051	-1,173,082	961,042	-1,473,295	11,656,594	-849,772	-4,131,714	-3,348,658	-2,876,504	-5,207,812	-1,622,244	470,773	-1,881,300	-419,542	9,950	-459,632	-5,581,748	-5,036,886	-3,026,284	-5,852,484	-2,423,200	-2,717,905	-1,439,994	-1,177,930		-1,844,225	-916,419	-1,181,844
yoy	-231.06%	-1059.94%	25.16%	-42.91%	-137.66%	-92.43%	54.89%	88.74%	-336.14%	-146.15%	462.45%	517.26%	532.71%	-6724.54%	131.24%	1040.88%	-301.35%	-42.24%	154.14%	7.21%	-242.01%	394.63%	-205.77%	-95.32%	38.05%	-123.26%	-56.00%	-505.23%	-83.68%	154.69%	-811.31%	52.90%	1141.31%	-16403.96%	-202.42%	-66.30%	-91.67%	-100.33%	-92.15%	130.35%	85.32%	110.16%	396.84%		47.37%	57.13%	-0.33%
qoq	-140.55%	-161.10%	124.80%	-335.32%	-396.98%	-92.03%	2.53%	55.26%	-40.30%	62.98%	24.94%	-294.26%	-88.33%	-2086.20%	37.12%	-299.12%	-222.16%	-30.67%	576.49%	-64.86%	-64.96%	205.04%	185.38%	-146.55%	-222.06%	-165.23%	-112.64%	-1471.73%	-79.43%	23.38%	16.41%	-44.77%	221.03%	-444.59%	-125.02%	348.42%	-4316.50%	-102.16%	-91.77%	10.82%	66.44%	-48.29%	141.52%	-10.84%	88.74%	22.25%			101.24%	-22.46%
net income margin %	3.43%	-8.41%	13.51%	13.49%	-5.68%	2.39%	19.85%	21.87%	14.42%	21.82%	15.81%	15.86%	-11.93%	-96.63%	5.95%	5.01%	-3.22%	2.89%	6.09%	1.17%	4.67%	12.90%	5.19%	1.94%	-4.86%	4.71%	-9.14%	80.47%	-5.79%	-24.94%	-36.01%	-23.85%	-56.97%	-15.04%	4.60%	-31.35%	-6.71%	0.15%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	-Infinity%	-Infinity%	-Infinity%
dividends on convertible preferred stock[5]	-14,319,000	-9,657,000
income allocated to participating preferred stock[5]	-1,282,000
net income attributable to common stockholders	9,138,000	-70,671,000	85,690,000	34,419,000	-23,548,000	-557,000	66,656,000	64,846,000	39,081,000	70,534,000	40,857,000	34,446,000
other comprehensive income:
foreign currency translation gain, net of income tax	654,000	330,000	3,179,000	2,249,000				-1,354,000			-590,000
comprehensive income	9,792,000	-70,341,000	88,869,000	36,668,000	-26,460,000	1,468,000	66,348,000	63,492,000	40,921,000	69,870,000	40,267,000	35,040,000			6,862,000	6,188,000	-3,905,662	4,028,474	4,237,339	392,915	2,330,383	4,863,630	1,449,653	431,561
earnings per share:
basic	0.03	-0.27	0.33	0.15	-0.1		0.29	0.28	-1.07	0.92	0.53	0.41
diluted	0.03	-0.27	0.33	0.15	-0.1		0.28	0.27	-1.04	0.89
weighted-average shares outstanding:
basic	252,301	257,778	257,750	235,191	233,667	233,696	233,197	232,780	230,784	77,002	76,845	76,673	75,649		75,451	75,239	73,781,130	74,609,195	73,158,836	72,516,396	70,195,085		69,396,377	69,284,307	60,761,995	59,307,404	57,336,117	57,155,445		51,098,575	51,003,803	47,449,553		45,487,908	44,650,052	41,783,853		38,666,451
diluted	254,911	257,778	260,211	237,172	237,404	233,696	237,595	237,523	236,964	79,091														70,339,416				61,687,409		51,098,575	51,003,803	47,449,553		45,487,908	56,877,616	41,783,853		38,666,451
cost of revenue			358,408,000	156,903,000	165,524,000	143,519,000	192,879,000	173,501,000	181,190,000	190,675,000	166,889,000	146,121,000	98,957,000	109,583,000	94,701,000	79,494,000	62,607,569	57,215,728	36,823,954	29,455,784	18,239,498	19,305,416	17,024,412	15,182,706	14,022,765	11,801,478	9,255,898	8,764,592	9,235,873	9,694,932	5,316,508	7,296,295	5,334,589	6,110,898	5,670,277	3,617,623	3,691,851	3,772,948	1,399,366	1,733,826	1,741,847	2,241,365	1,500,563	1,075,753	766,553	676,312
selling, general and administrative expenses[2]			237,886,000	120,342,000	185,169,000	125,443,000
other			542,000	1,116,000
dividends on series a convertible preferred stock[3]			-6,851,000	-6,781,000	-6,912,000	-6,913,000
income allocated to participating preferred stock[3]			-7,314,000	-3,219,000	2,240,000
interest income on note receivable					7,000			28,000	27,000	28,000	28,000	45,000	51,000	53,000	55,000	78,000	75,247	76,473	76,583	86,530	87,112	78,690	92,485	97,534
interest income-net					7,842,750	11,112,000																						-28,632
foreign exchange gain					-89,000	277,000										-162,000	174,958	-327,581	177,620
foreign currency translation adjustments, net of income tax					90,750	2,025,000	-308,000
earnings per share[4]:
basic	0.03	-0.27	0.33	0.15	-0.1		0.29	0.28	-1.07	0.92	0.53	0.41
diluted	0.03	-0.27	0.33	0.15	-0.1		0.28	0.27	-1.04	0.89
weighted-average shares outstanding[4]:
basic	252,301	257,778	257,750	235,191	233,667	233,696	233,197	232,780	230,784	77,002	76,845	76,673	75,649		75,451	75,239	73,781,130	74,609,195	73,158,836	72,516,396	70,195,085		69,396,377	69,284,307	60,761,995	59,307,404	57,336,117	57,155,445		51,098,575	51,003,803	47,449,553		45,487,908	44,650,052	41,783,853		38,666,451
diluted	254,911	257,778	260,211	237,172	237,404	233,696	237,595	237,523	236,964	79,091														70,339,416				61,687,409		51,098,575	51,003,803	47,449,553		45,487,908	56,877,616	41,783,853		38,666,451
selling, general and administrative expenses							114,850,000	99,017,000	107,302,000	96,385,000	94,181,000	68,905,000
foreign exchange loss							-264,000	-369,000	-20,000	-177,000	-931,000	-118,000	-232,500	-254,000
dividends on series a convertible preferred stock							-6,838,000
income allocated to participating preferred stock							-6,289,000
net income before income taxes								92,461,000	67,785,000	104,745,000	69,455,000	49,764,000			11,968,000	10,030,000	-12,183,825	3,579,610	3,960,344	585,424
income tax expense								-14,650,000	-11,819,750	-20,796,000	-17,946,000	-8,537,000	10,413,250	35,492,000	2,810,000	3,351,000	208,454.75	833,819
dividends on series a preferred shares								-6,837,000
income allocated to participating preferred shares								-6,128,000	-4,085,000	-6,540,000	-3,796,000
dividends on series a convertible preferred shares									-6,950,000	-6,875,000	-6,856,000
foreign currency translation loss, net of income tax									-165,000	-664,000
earnings per share:
basic	0.03	-0.27	0.33	0.15	-0.1		0.29	0.28	-1.07	0.92	0.53	0.41
dilutive											0.52	0.4
weighted-average shares outstanding:
basic	252,301	257,778	257,750	235,191	233,667	233,696	233,197	232,780	230,784	77,002	76,845	76,673	75,649		75,451	75,239	73,781,130	74,609,195	73,158,836	72,516,396	70,195,085		69,396,377	69,284,307	60,761,995	59,307,404	57,336,117	57,155,445		51,098,575	51,003,803	47,449,553		45,487,908	44,650,052	41,783,853		38,666,451
less: dividends on series a convertible preferred shares												-6,781,000	-6,930,000	-4,596,000
foreign currency translation gain												594,000	2,318,000	-2,038,000		-491,000	-551,376	1,282,683	276,995
selling and marketing expenses													89,985,000	198,756,000	32,475,000	31,597,000	24,627,192	22,621,062	15,530,988	11,959,053	11,234,425	8,267,996	7,866,871	7,506,047	7,042,812	4,923,968	5,561,939	3,601,003	2,794,294	8,671,792	4,148,173	5,599,271	2,318,301.75	4,702,308	2,417,812	2,153,087	1,966,418	1,736,029	817,396	2,256,102	4,255,134	3,920,811	4,755,452	2,706,314	2,620,103	1,454,235	1,221,045	1,026,559	1,356,642	705,135	848,216
general and administrative expenses													21,768,000	27,493,000	14,414,000	12,181,000	29,453,517	11,140,030	9,119,532	7,806,666	5,727,397	4,557,438	3,654,718	4,247,853	4,371,156	2,194,530	2,432,746	2,622,102	3,057,012	2,287,374	3,140,551	2,002,655	1,637,581	1,559,173	1,639,558	2,062,963	962,758	1,081,273	387,483	1,642,577	772,486	936,152	1,354,178	829,053	624,007	448,965	354,775	417,564	434,182	423,492	464,905
total operating expenses													79,229,250	226,249,000	46,889,000	43,778,000	19,544,332.75	33,761,092	24,650,520	19,765,719	9,025,230.75	12,825,434	11,521,589		5,334,072	7,118,498	7,994,685		6,462,454	10,959,166	7,288,724		3,633,725.25	6,261,481	4,057,370				1,204,879	3,898,679	5,027,620		6,109,630
other income
total other expense													162,250	1,195,000		-86,000				-227,952																			61,284					26,446.25	50,244
net loss before income taxes													-31,101,500	-146,404,000
net loss attributed to common shareholders													-42,663,750	-186,492,000
other comprehensive loss:
comprehensive loss													-43,867,000	-188,530,000
loss per common share:
basic and dilutive													-565	-2,460
weighted-average common shares outstanding:
other income/
interest on other obligations															-3,000	-2,000	-9	-4,524	-1,367	-1,605	-2,604	-3,419	-9,981		-45,538	-3,393	-4,017
other miscellaneous income																		-97,038	108,659	-11,621	-6,903.5	-62,817	29,863	5,340
foreign exchange gain/															-514,000
foreign currency translation gain/															-2,296,000
income per share:
basic															0.12	0.09	-0.05	0.04	0.05	0.01	0.02	0.07	0.02	0.01	-0.03	0.02	-0.03	0.2			-0.07		-0.02	-0.04	0.01	-0.05	-0.02
diluted															0.12	0.09	-0.04	0.03	0.05	0.01	0.02	0.06	0.02	0.01	-0.04	0.03	-0.03	0.19			-0.07		-0.02	-0.04	0.01	-0.05	-0.02
diluted1															78,372	78,289			77,238,389
interest expense on bonds																					-40,355	-144,021	-111,419
amortization of discount on bonds payable																					-70,315	-178,649	-161,382	-166,069
gain on lease cancellations																							152,112
diluted 1																	19,445,614.75	78,473,866		76,925,484	18,381,052.25	74,848,239	71,473,065		15,512,508	62,532,510	57,336,117
foreign exchange																				-301,256
foreign currency translation loss																				-192,509
interest on notes																									-87,123.25	-105,385	-122,714
amortization of discount on notes payable																									-1	-528,463	-92,883	-85,940
amortization of intangibles																					-107,326.75	-145,277	-140,502	-143,528
amortization of financial leases																					-72,319.25	-49,713	-102,399
realized foreign exchange gain																					65,505.5	142,917
gain on investment repayment-china																					96,123.25	407,593	121,303		3,012,730.25	-1,888	-220,404
unrealized foreign currency translation income/(losses).																					-28,286	110,027
weighted average shares outstanding:
basic																						70,473,351
realized foreign exchange																							197,028	-77,923
unrealized foreign currency translation losses																							-108,681
total operating expense																								11,753,900				6,223,105				7,601,926				4,216,050	2,929,176	2,817,302
interest expense on financial leases																								-137,165
gain on investment repayment-																								-144,403
unrealized foreign currency translation gain																								-114,490
preferred stock dividend																													-42,373.5	-43,639	-43,164	-82,691	-68,435.75	-92,250	-91,248	-90,245	-69,066	-102,958
net income available to common stockholders																									-1,173,082	961,042	-1,473,295	11,656,594			-3,391,822		-826,628.5	-1,714,494	379,525
gain on investment repayment from china																												12,273,213
total other																													-30,736	-42,932
net loss available to common stockholders																													-893,411	-4,175,353		-2,959,195
loss per share:
basic																													-0.053	-0.08		-0.06
diluted																													-0.053	-0.08		-0.06
net (loss) available to common stockholders																																				-1,971,545	-731,084.25	-93,008
net revenue																																							2,205,897	103,328	1,769,322	4,103,426	2,336,884	2,387,420	1,343,002	1,166,062
other expenses:
loss on extinguishment of debt, related party																																											322,356
interest expense, related party																																							61,822	-343,721	40,673		261,856	-129,400	31,383	6,071	7,410	-7,696	5,085	-12,588	14,426
other interest expense																																							-538			-7,732		15,230.25	18,861	20,473	21,587				88,784
weighted-average shares outstanding -
basic and diluted																																							18,515,575				14,695,512				148,865,133	128,703,645			108,256,631
loss per share - basic and diluted																																							-0.02				-0.4				-0.01				-0.01
loss on extinguishment of debt , related party																																								80,589
other interest income																																								-4,175.25	-3,932		-5,037
basic and diluted:
weighted-average shares outstanding																													50,050,696				44,419,162				38,568,088			17,525,352	18,448,553	18,406,432		7,627,383		149,613,238			136,388,430	123,126,449
loss per share																																								-0.3	-0.27	-0.16		-0.98	-0.02	-0.01			-0.01	-0.01
interest income, related party																																										39,114
other incomes:
other expense:
weighted average shares outstanding																																													150,842,575
net sales																																															971,411	492,243.75	435,484	1,000,109	533,382
cost of sales																																															544,524	346,627.25	456,293	631,321	298,895
contract termination expense
termination of contract expense

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31

assets
current assets:
cash and cash equivalents	398,866,000	805,955,000	615,233,000	977,285,000	890,190,000	903,748,000	903,210,000	879,498,000	755,981,000	760,022,000	681,054,000	595,476,000	614,159,000	592,134,000	60,031,000	25,532,000	16,254,708	61,377,202	83,789,981	31,634,675	43,248,021	52,158,098	20,110,815	19,094,101	23,090,682	20,531,891		2,762,813	7,743,181	5,314,112	8,495,911	9,987,713	14,186,624	19,418,583	19,997,743	20,904,487	11,747,138	7,765,707				658,091	1,320,665	3,384,912	6,476,915	10,179,198	606,737	647,598	311,032	123,882	1,040,633
restricted cash	141,121,000	126,508,000										38,105,000	38,768,000	134,838,000
accounts receivable-net[1]	755,499,000	513,682,000	490,389,000		270,342,000	208,774,000
inventories-net	337,698,000	282,514,000	230,046,000	141,159,000	131,165,000	197,572,000	180,669,000	197,504,000	229,275,000	198,704,000	152,545,000	154,280,000	173,289,000	153,933,000	162,138,000	184,094,000	191,221,851	122,311,445	63,826,596	36,891,859	18,403,622	15,679,192	23,512,418	21,038,367	15,292,349	8,786,975		13,556,512
prepaid expenses and other current assets[2]	128,806,000	163,395,000
deferred other costs-current[3]	49,164,000	49,520,000
total current assets	1,811,154,000	1,941,574,000	1,391,212,000	1,411,456,000	1,324,580,000	1,363,470,000	1,384,989,000	1,315,025,000	1,204,904,000	1,215,149,000	1,072,255,000	993,111,000	917,971,000	1,027,016,000	303,728,000	298,208,000	262,360,550	252,561,960	205,305,787	112,217,555	93,150,665	90,941,321	61,900,613	56,661,754	51,508,901	48,942,137		32,620,063	34,505,653	28,336,532	24,025,540	28,888,392	27,048,231	33,875,357	30,072,797	28,562,031	17,683,589	14,211,842				3,647,637	4,214,867	7,672,106	12,088,239	14,474,395	5,275,064	3,042,016	1,930,209	3,601,359	1,750,576
property, plant and equipment-net	87,910,000	80,925,000	72,516,000	58,698,000	55,602,000
customer relationships-net	111,604,000	117,466,000	117,726,000
brands-net	1,280,311,000	1,280,353,000	1,104,389,000
goodwill	917,560,000	914,957,000	802,234,000	72,128,000	71,582,000	14,360,000	13,730,000	13,866,000	14,173,000	13,588,000	13,937,000	13,949,000	13,679,000	12,502,000	13,323,000	14,238,000	14,526,583	14,851,635	10,419,321	10,419,321	10,419,321	10,419,321	10,419,321	10,023,806	10,023,806
deferred other costs-non-current[3]	771,635,000	784,214,000
deferred tax assets	96,013,000	110,410,000	43,158,000	38,525,000	38,699,000	24,186,000	22,727,000	22,437,000	29,518,000	30,614,000
other long-term assets	43,434,000	35,809,000	36,755,000	14,717,000	8,154,000	8,594,000	6,653,000	7,963,000	291,000	265,000	254,000	263,000	263,000	242,000	264,000																													3,456	17,177	18,840	18,840	18,840	18,840	18,840	18,840
total assets	5,119,621,000	5,265,708,000	3,795,143,000	1,859,518,000	1,766,881,000	1,704,323,000	1,718,888,000	1,646,140,000	1,536,396,000	1,545,618,000	1,399,249,000	1,292,271,000	1,222,069,000	1,327,649,000	349,638,000	343,924,000	314,018,428	294,978,175	241,548,125	148,177,671	131,289,773	128,099,196	98,899,097	94,927,954	90,382,236	74,422,394		43,967,913	34,627,507	28,458,036	24,146,597	28,954,798	27,110,873	33,925,315	30,110,002	28,597,662	17,717,122	14,248,350				3,742,420	4,316,762	7,814,764	12,244,176	14,616,906	5,473,736	3,251,675	2,371,265	4,044,073	2,202,769
liabilities, mezzanine equity and stockholders’ equity
current liabilities:
accounts payable[4]	137,930,000	97,794,000
accrued expenses[5]	230,721,000	311,768,000
income taxes payable	49,612,000	49,590,000	21,765,000	26,206,000	10,834,000	739,000	5,374,000	58,619,000	50,424,000	58,855,000	58,798,000
accrued distributor termination fees	264,088,000	252,953,000										1,063,000	3,986,000	115,551,000
accrued promotional allowance[6]	307,922,000	234,068,000
contingent consideration	25,000,000	25,000,000	25,000,000
deferred revenue-current[7]	26,988,000	25,557,000
other current liabilities	36,465,000	32,258,000	49,949,000	14,160,000	15,808,000	14,979,000	13,772,000	12,987,000	10,890,000	8,826,000	7,109,000	5,094,000	3,586,000	3,267,000	2,761,000	1,734,000	976,072	957,627	754,907	586,954	425,232	716,678	561,617	160,646	107,399	117,445		65,395	19,933
total current liabilities	1,078,726,000	1,028,988,000	659,775,000	417,854,000	365,535,000	289,460,000	312,984,000	315,269,000	276,613,000	335,517,000	269,225,000	191,731,000	161,295,000	271,293,000	105,834,000	111,751,000	93,123,494	93,421,330	54,256,877	38,642,619	26,365,092	28,772,227	30,076,130	29,233,268	26,683,399	11,072,632		9,231,496	14,865,144	14,727,948	7,739,858	10,407,367	6,463,628	8,939,715	3,945,975	4,367,308	2,322,485	2,561,928				2,689,493	2,835,048	2,859,891	3,466,491	3,054,546	2,855,105	2,972,406	2,116,761	2,407,619	853,537
long-term debt	669,926,000	861,472,000	862,917,000
deferred revenue-non-current[3]	401,155,000
other long term liabilities	28,372,000	24,431,000	25,002,000	2,574,000
total liabilities	2,178,179,000	2,302,323,000	1,703,829,000	591,916,000	542,464,000	456,209,000	478,646,000	483,461,000	447,868,000	507,783,000	443,699,000	386,748,000	357,490,000	443,712,000	109,765,000	115,570,000	96,973,231	97,579,964	54,708,765	39,166,402	26,962,330	28,897,205	30,279,231	29,422,057	26,923,247	11,085,379		18,697,742	22,824,525	18,227,948	11,239,858	13,907,367	9,963,628	12,439,715	7,445,975	7,867,308	6,822,485	7,061,928				6,689,493	6,835,048	5,859,891	5,466,491	5,139,691	8,625,893	5,573,184	2,762,083	3,159,478	2,191,542
commitments and contingencies
mezzanine equity:
series a convertible preferred stock, 0.001 par value per share...	852,355,000	852,355,000				824,488,000	824,488,000
series b convertible preferred stock, 0.001 par value per share...	907,620,000	907,920,000
stockholders’ equity:
common stock, 0.001 par value per share...	101,000	101,000				79,000	78,000
treasury stock	-48,226,000
additional paid-in capital	1,050,518,000	1,035,021,000	1,028,384,000	300,877,000	297,579,000	292,576,000	286,173,000	281,247,000	276,717,000	277,980,000	278,980,000	279,872,000	280,668,000	281,133,000	277,623,000	272,967,000	267,846,196	244,293,710	237,763,609	164,174,742	159,884,154	156,548,446	130,832,040	129,168,007	127,552,998	126,075,609		86,703,402	85,153,667	82,659,488	81,226,797	80,009,458	79,101,824	78,100,761	77,565,033	76,012,320	64,208,963	59,992,650				36,132,843	36,101,998	34,993,439	34,779,430	34,452,695	15,977,210	14,244,067	13,459,254	13,295,877	7,244,806
accumulated other comprehensive income	3,162,000	2,508,000	2,178,000										-1,881,000	-4,211,000	-2,173,000	123,000	613,651	1,165,027
retained earnings	175,912,000	165,480,000	236,163,000	143,159,000	105,521,000	131,309,000	131,866,000	58,921,000
total stockholders’ equity	1,181,467,000	1,203,110,000	1,266,826,000	443,114,000	399,929,000	423,626,000	415,754,000	338,191,000	264,040,000	213,347,000	131,062,000	81,035,000	40,091,000	59,449,000	239,873,000	228,354,000	217,045,197	197,398,211	186,839,360	109,011,269	104,327,443	99,201,991	68,619,866	65,505,897	63,458,989	63,337,015		25,270,171	11,802,982	10,230,088	12,906,739	15,047,431	17,147,245	21,485,600	22,664,027	20,730,354	10,894,637	7,186,422						1,954,873	6,777,685	9,477,215				884,595	11,227
total liabilities, mezzanine equity and stockholders’ equity	5,119,621,000	5,265,708,000	3,795,143,000	1,859,518,000	1,766,881,000	1,704,323,000	1,718,888,000	1,646,140,000	1,536,396,000	1,545,618,000	1,399,249,000	1,292,271,000	1,222,069,000	1,327,649,000
deferred revenue-non-current[8]		387,432,000
deferred other costs-current[2]			14,124,000	14,124,000	14,124,000	14,124,000
prepaid expenses and other current assets			41,420,000	22,464,000	18,759,000	38,227,000	22,900,000	21,523,000	19,503,000	23,747,000	23,398,000	15,507,000	11,341,000	12,096,000	12,298,000	10,042,000	13,555,037	22,829,510	22,744,642	17,183,929	14,626,922	4,731,887	4,312,554	4,671,721	4,170,136	4,212,180		2,832,174	2,299,375	3,336,674	2,674,066	3,158,057	1,180,444	3,068,290	1,963,635	1,805,983	937,349	937,534
deferred other costs-non-current[2]			227,153,000	230,684,000	234,215,000	237,746,000
accounts payable[3]			120,962,000	61,052,000	41,287,000	30,938,000
accrued expenses[4]			225,859,000	152,046,000	148,780,000	73,024,000
accrued promotional allowance[5]			200,169,000	151,327,000	135,948,000	158,810,000
deferred revenue-current[6]			16,071,000
deferred revenue-non-current[7]			156,135,000
series a convertible preferred stock, 0.001 par value...			824,488,000	824,488,000	824,488,000			824,488,000	824,488,000
common stock, 0.001 par value...			101,000	79,000	79,000			78,000	77,000	77,000	77,000	77,000	76,000	76,000	76,000	75,000	74,909	74,746	74,471	72,586	72,263	71,652	69,563	69,280	68,942	68,876		57,198	57,003	51,125	51,063	50,957	45,702	45,679	45,340	43,905	40,000	38,666
accounts and note receivable-net[1]				256,424,000
right of use assets-operating leases				20,866,000	21,606,000	5,506,000	1,507,000	1,688,000	1,957,000	1,152,000	756,000	931,000	972,000	1,105,000	954,000	1,141,000	1,128,151				836,038
intangibles-net				12,444,000	12,213,000	11,877,000	11,491,000	11,741,000	12,139,000	11,772,000	12,211,000
lease liability operating leases				3,550,000	3,265,000
deferred revenue[2]				9,513,000	9,513,000
accumulated other comprehensive loss				-1,001,000	-3,250,000	-338,000	-2,363,000	-2,055,000	-701,000	-2,541,000	-1,877,000	-1,287,000							-117,656	-394,651	-202,142	-866,664	-976,691	-868,010	-753,520				-26,997		-59,197	-92,882	-39,378
note receivable-net
right of use assets-finance leases-net					230,000
lease liability finance leases					100,000
deferred tax liability					2,330,000			2,248,000	2,880,000	2,249,000	2,333,000	19,250,000	15,919,000	25,457,000	2,886,000	3,084,000	3,146,394	3,497,240
commitment and contingencies
note receivable-current-net						1,025,000	1,166,000	2,259,000	2,318,000	3,309,000
property and equipment-net						38,370,000	36,282,000	28,350,000	24,868,000	21,061,000	15,892,000	12,054,000	10,185,000	5,782,000	5,135,000	3,702,000	3,180,058	2,454,914	1,617,002	1,169,022	579,377	467,380	398,315	115,324	132,889	128,886		103,093
right of use assets-finance leases						214,000	233,000	263,000	208,000	148,000	171,000	191,000	208,000	222,000	180,000	220,000
lease liability operating-current						1,358,000
lease liability finance-current						99,000
deferred revenue-current[2]						9,513,000
lease liability operating-non-current						4,193,000
lease liability finance-non-current						189,000
deferred tax liabilities						2,275,000	2,201,000
deferred revenue-non-current[2]						160,092,000
mezzanine equity[2]:
accounts receivable-net							262,920,000	200,117,000	183,703,000	215,243,000	197,811,000	172,032,000	63,311,000	117,003,000	66,195,000	72,707,000	38,741,049	43,500,578	32,398,823	23,997,680	14,986,213	16,561,371	12,221,985	10,699,811	7,774,618	14,008,998		12,154,448
deferred other costs-current							14,124,000	14,124,000	14,124,000	14,124,000	14,124,000	14,124,000	14,124,000	14,124,000
deferred other costs-non-current							241,276,000	244,807,000	248,338,000	251,869,000	255,400,000	258,931,000	262,462,000	265,993,000
accounts payable							47,423,000	40,196,000	42,840,000
accrued expenses							79,633,000	63,871,000	62,120,000
accrued promotional allowance							156,479,000	129,201,000	99,787,000	136,557,000	98,933,000	68,225,000	35,977,000
lease liability obligation-operating leases-current							729,000
lease liability obligation-finance leases							61,000	61,000	59,000	63,000	67,000	69,000	70,000	95,000	101,000	141,000
deferred revenue-current							9,513,000	9,513,000	9,513,000	9,500,000	9,500,000	9,563,000	9,675,000	7,770,000
lease liability obligation-operating leases-non-current							762,000
lease liability obligation-finance leases-non-current							228,000
deferred revenue-non-current							162,471,000	164,849,000	167,227,000	169,370,000	171,745,000	175,275,000	179,788,000	146,333,000
lease liability obligation-operating leases								821,000	980,000	628,000	505,000	605,000	661,000	663,000	556,000	569,000	511,764				321,283
note receivable-non-current
accumulated deficit									-12,053,000	-62,169,000	-146,118,000	-197,627,000	-238,772,000	-217,549,000	-35,653,000	-44,811,000	-51,489,559	-48,135,273	-50,881,064	-54,841,408	-55,426,832	-56,551,443	-61,305,046	-62,863,380	-63,409,431	-62,236,350		-61,724,097	-73,380,691	-72,487,280	-68,311,927	-64,920,105	-61,960,910	-56,660,846	-54,946,352	-55,325,877	-53,354,332	-52,844,900				-39,098,431	-38,638,799	-33,057,051	-28,020,165	-24,993,881	-19,141,397	-16,718,197	-14,000,292	-12,560,298	-11,382,368
accounts payable and accrued expenses										121,088,000	94,313,000	107,112,000	107,340,000	143,947,000	102,416,000	109,307,000	91,478,612	91,931,593	52,992,075	37,525,390	25,412,753	18,117,611	20,149,301	19,885,182	17,292,647	10,808,603		9,027,059	14,845,211	14,501,149	7,532,328	10,219,925	6,311,824	8,410,985	3,228,939	3,579,920	1,754,207	1,710,504					2,771,166	2,780,460	3,371,383	2,994,546	1,722,031	1,354,993	1,066,084	951,367	612,044
long-term liabilities:
series a convertible preferred shares, 0.001 par value...										824,488,000	824,488,000	824,488,000	824,488,000	824,488,000
note receivable-current											3,323,000	3,587,000	2,979,000	2,888,000	3,066,000	5,833,000	2,587,905	2,543,225	2,545,745	2,509,412	1,885,887	1,810,773	1,742,841	1,157,754	1,181,116	1,149,791		1,224,529
deferred tax asset											28,373,000	482,000	501,000		7,686,000	6,396,000	9,019,241
note receivable													3,574,000	3,465,000	3,679,000	3,888,000	7,116,738	6,993,869	7,000,800	6,900,882																													250,000	250,000	250,000
intangibles												12,359,000	12,254,000	11,322,000	14,689,000	15,838,000	16,301,326	16,811,762	16,287,537	16,439,197	16,590,083	16,740,838	16,888,970	17,029,472	17,173,000
liabilities and stockholders’ equity
other long-term liabilities															487,000			22,198
total liabilities and stockholders’ equity															349,638,000	343,924,000	314,018,428	294,978,175	241,548,125	148,177,671	131,289,773	128,099,196	98,899,097	94,927,954	90,382,236	74,422,394		43,967,913	34,627,507	28,458,036	24,146,597	28,954,798	27,110,873	33,925,315	30,110,002	28,597,662	17,717,122	14,248,350						7,814,764	12,244,176	14,616,906				4,044,073	2,202,769
long term security deposits																293,000	299,828				122,733	60,875	53,523	55,358	104,134
right of use assets-financial leases																	85,953				162,119
lease liability obligation-financial leases																	157,046				205,824
right-of-use asset-operating leases																		888,911	704,857	791,969
right-of-use asset-finance leases																		106,675	100,365	129,625
long-term security deposits																		308,449	112,456	110,100
lease liability-operating leases																		376,602	318,142	337,626
lease liability-finance leases																		155,508	191,753	192,649
commitments and contingences
notes receivable																					9,429,437	9,053,866	8,714,205	10,416,120	10,630,041
bonds payable-net																						9,540,007	8,953,266	8,599,750	8,634,279
right of use assets																						415,595	524,150	626,120	809,466
lease liability obligation																						397,931	411,946	587,690	649,074
revolving line of credit-note payable-related party																													3,500,000
convertible note payables-related party-net																													4,459,381
preferred stock, 0.001 par value...																														3	3	3	7	6	6	6	6	6
unbilled royalty revenue																										252,302		89,587
cash held in escrow																										14,849,999
note receivable-long term																										10,348,115		11,020,766
operating lease-right of use asset																										153,257		223,991
operating lease liability-current																										146,584		139,042
convertible line of credit note payable-related party-net
convertible notes payables -related party-net
operating lease liability-long term																										12,747		87,592
accumulated other comprehensive income/																										-571,120		233,668
line of credit note payable-related party-net																												4,850,839
convertible note payables -related party-net																												4,527,815
accounts receivable																													12,980,396	12,836,991	6,624,534	9,073,880	6,375,658	7,071,888	4,853,958	3,273,941	2,787,732	3,402,272				1,728,182	1,192,139	1,610,669	2,099,559	1,740,957	2,124,788	627,450	465,793	577,877	192,779
inventories																													11,482,701	6,848,755	6,231,029	6,668,742	5,305,505	4,316,596	3,257,461	2,577,620	2,211,370	2,106,329					1,563,753				1,650,337	1,526,880	896,495	818,867	505,009
property and equipment																													121,854	121,504	121,057	66,406	62,642	49,958	37,205	35,631	33,533	36,508
accrued preferred dividend																														212,265	168,626	165,462	133,883			392,800	353,666	314,888
customer advances and other current liabilities																														14,534	38,904	21,980
note payable-related party																														3,500,000	3,500,000
accumulated other comprehensive (loss)/income																														6,752
line of credit note payable-related party																																3,500,000	3,500,000	3,500,000	3,500,000	3,500,000	4,500,000	4,500,000
deferred revenue and other current liabilities																																	17,921	52,988	131,321	394,588	214,612	536,536
accrued preferred dividends																																		475,742	585,715
inventories, net of reserve of 634,834 and 741,697, respectively																																										976,735
other current assets																																										284,629	138,310	357,600	798,768	995,462	893,202	240,088	256,889	80,733	12,155
property, fixtures and equipment, net of accumulated depreciation of 61,445 and 54,334, respectively																																										94,783
liabilities and stockholders’ deficit
accounts payable, accrued expenses and other liabilities																																										2,639,044
due to related parties, short-term portion																																										50,449	63,882	79,431	95,108	60,000	1,110,000	1,580,000	979,504	1,355,612	120,000
convertible note payable, net of debt discount, related party																																										2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	5,620,052
due to related parties, long-term portion																																										2,000,000	2,000,000	1,000,000		50,441	61,034				700,413
stockholders’ deficit:
no shares issued or outstanding, respectively
common stock																																											18,515
authorized, 18.5 million shares issued and outstanding																																										18,515
total stockholders’ deficit																																										-2,947,073	-2,518,286
total liabilities and stockholders’ deficit																																										3,742,420	4,316,762
property, fixtures and equipment																																											101,895				179,832	190,819	172,216	173,874	183,353
short term portion of other liabilities																																															23,074	22,413	26,173	25,640	26,493
convertible note payable, net of debt discount																																														34,704	34,519	242,539	480,886	574,234	562,570
other liabilities																																															55,183	60,148	62,280	69,681	75,022
inventories, net of reserve of 67,669 and 43,548, respectively																																												2,318,925
property, fixtures and equipment, net of accumulated depreciation of 78,894 and 97,750, respectively																																												139,202
stockholders’ equity
no shares and 165 shares issued and outstanding, respectively
authorized, 18.5 million and 12.0 million shares issued and
outstanding, respectively																																												18,485
inventories, net of reserve of 83,458 and 43,548, respectively																																													2,712,997
property, fixtures and equipment, net of accumulated depreciation of 66,784 and 97,750, respectively																																													138,760	123,671
authorized, 18.4 million and 12.0 million shares																																													18,420	18,401
1 derived from audited financial statements.
inventories, net of reserve of 43,548 and 43,548, respectively																																														1,558,778
liabilities and stockholders’ (deficit) equity
loans payable																																																15,000	45,000	75,000	95,000
stockholders’ (deficit) equity:
165 shares and 200 shares issued and outstanding, respectively
authorized, 12.0 million and 7.4 million shares
issued and outstanding, respectively																																															12,030				148,789
total stockholders’ (deficit) equity																																															-3,152,157	-2,321,509	-390,818
total liabilities and stockholders’ (deficit) equity																																															5,473,736	3,251,675	2,371,265
convertible note payable, net of debt
discount, related parties																																																2,172,742
due to related parties, long-term																																																125,349	102,156	107,944
authorized, 6,092 shares and 4,000 shares issued and outstanding, respectively																																																6	6	6
authorized, 153 million and 149 million shares issued and outstanding, respectively																																																152,615
1 derived from audited financial statements. the accompanying notes are an integral part of these unaudited condensed consolidated financial statements
authorized, 150 million and 149 million shares issued and outstanding, respectively																																																	150,214
preferred stock subscription receivable, related party																																																		2,000,000
authorized, 149 million shares issued and outstanding																																																		149,010
deposit from customer
4,000 shares and 0 shares issued and outstanding, respectively																																																			4,000,000
authorized, 149 million and 106 million shares

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2011-03-31	2010-12-31

cash flows from operating activities:
net income	24,739,000	-61,014,000	99,855,000	44,419,000	-18,876,000	6,356,000	79,783,000	77,811,000	50,116,000	83,949,000	51,509,000	41,227,000			9,159,000	6,679,000	-3,354,286	2,745,791	3,960,344	585,424	1,665,861	4,753,603	1,558,334	546,051	-1,173,082	961,043	-1,473,295	11,656,594
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	8,935,000	8,786,000	9,119,000	2,611,000	2,386,000	2,240,000	1,419,000	1,229,000																		543,353	110,953	107,343	37,542	14,972	11,695	7,953	6,133	5,618	4,440	4,234	4,605	7,112
allowance for credit losses[1]	7,374,000	-2,303,000	3,452,000	2,077,000
amortization of deferred other costs[2]	12,935,000	6,329,000	3,531,000	3,531,000	3,531,000
inventory excess and obsolescence	6,877,000	7,051,000	9,925,000	5,337,000	1,968,000	5,564,000	9,168,000	2,386,000	4,635,000	6,565,000	-5,560,000	1,672,000	5,053,000	747,000	-2,265,000	2,596,000
stock-based compensation expense	9,203,000	7,384,000	6,434,000	5,029,000	5,906,000	5,376,000	4,746,000	3,563,000	5,005,000	4,979,000					4,207,000	4,310,000	23,074,580	5,803,321	4,022,259	3,575,001	1,621,301	2,143,700	1,174,999	1,400,000	1,477,455	900,000	1,095,792	1,358,503			1,179,765	770,862			580,415	782,314	217,647
deferred income taxes-net	14,072,000	-67,247,000	-4,430,000	269,000	-14,457,000	-1,385,000	-338,000	6,450,000	2,248,000	-3,259,000
change in fair value of contingent consideration	0	0
loss on debt extinguishment
other operating activities-net	-3,651,000
changes in operating assets and liabilities:
accounts and note receivable-net[3]	-247,958,000	-20,980,000	-154,994,000	11,841,000
inventories[4]
prepaid expenses and other current assets[5]
other long-term assets	1,346,000	769,000	2,442,000	-1,700,000	441,000	1,059,000
accounts payable[6]
accrued expenses[7]
income taxes payable	8,000	27,814,000	-4,425,000	15,353,000	10,095,000	-4,653,000	-53,228,000	8,250,000	-9,560,000	57,000
accrued promotional allowance[8]
accrued distributor termination fees	4,642,000				0	0	0	-248,000	247,000	0	-1,063,000	-2,923,000	-111,565,000
other current liabilities	6,246,000	1,692,000	3,647,000	-1,648,000	826,000	1,210,000	790,000	2,094,000	2,066,000	1,716,000	2,015,000	1,508,000	319,000	471,000
deferred revenue[9]
other long-term liabilities	4,267,000	-576,000	-1,358,000	148,000
net cash from operating activities	-119,438,000	331,801,000	43,712,000	103,367,000	75,672,000	12,934,000	39,643,000	134,649,000	5,172,000	90,835,000	59,042,000	-13,831,000	-62,785,000			9,125,000		-21,734,485	-17,011,463	-13,318,001			-428,534	-3,817,544			2,306,369	-6,793,712	-2,641,556			-4,275,713						-649,141	-8,404,940
capital expenditures	0	0	0	-6,944,000	0	0	-9,214,000	-4,525,000	-4,746,000	-5,877,000	-4,557,000	-2,253,000	-4,787,000			-742,000		-1,179,252	-518,207	-697,843			-208,405	-107,372			0	0	-16,935			-11,717						0	-22,019
free cash flows	-119,438,000	331,801,000	43,712,000	96,423,000	75,672,000	12,934,000	30,429,000	130,124,000	426,000	84,958,000	54,485,000	-16,084,000	-67,572,000			8,383,000		-22,913,737	-17,529,670	-14,015,844			-636,939	-3,924,916			2,306,369	-6,793,712	-2,658,491			-4,287,430						-649,141	-8,426,959
cash flows from investing activities:
collections from note receivable									0	0
purchase of property, plant and equipment[10]
purchase of non-marketable equity securities	-5,000,000	0			0
acquisition of big beverages, net of cash acquired
alani nu acquisition, net of cash acquired	0
net working capital estimate received from pepsi related to the rockstar acquisition[2]	-1,461,000
net cash from investing activities	-16,989,000	-2,146,000	-1,269,601,000	-6,944,000	-80,743,000	-7,244,000	-9,214,000	-4,525,000	-4,746,000	-5,877,000	-4,557,000	980,000		-1,021,000	878,000	-742,000		-1,169,801					1,122,606	-107,372	639,290	-14,882,244			-16,935	-15,419	-66,346	-11,717	-18,818	-18,370	-6,014	-6,332	4,465		24,279
cash flows from financing activities:
cash dividends paid on preferred stock[1]	-14,307,000
repurchase of common stock related to employee tax withholdings	-2,468,000	-448,000
repurchase of common stock for treasury
proceeds from term loan	0	0
payments on term loan	-199,500,000
payment of debt issuance costs and debt discount	-786,000	0
payment of revolver fees	0	0
other financing activities-net	-308,000
net cash from financing activities	-257,146,000	-12,385,000	862,882,000	-10,587,000	-7,506,000	-5,902,000	-6,673,000	-5,885,000	-6,279,000	-5,990,000	-6,638,000	-6,314,000	-6,365,000	539,254,000	433,000	790,000	456,353	704,262	69,544,050	690,761	-8,448,740	23,537,616	331,347	151,265	-26,486	27,032,093	122,667	1,524,760		0	37,681	142,023	12,502	-64,660	973,733	10,024,948	4,000,000	-13,433	9,487,624
effect on exchange rate changes on cash, cash equivalents and restricted cash	1,097,000
net increase in cash, cash equivalents and restricted cash	-392,476,000											-19,346,000
cash, cash equivalents and restricted cash at beginning of the period	0											652,927,000
cash, cash equivalents and restricted cash at end of the period	-392,476,000											633,581,000
supplemental disclosures:
cash paid for:
interest	11,289,000	17,329,000														2,000	2,067			1,605	148,422	41,976	121,400	136,018	0	71,542	31,354	28,632	41,984	44,439	49,727	38,259	23,841	50,480	38,478	48,056	0
taxes, net of refunds received
supplemental schedule of noncash investing and financing activities:
acquisition date fair value of alani nu contingent consideration	0
fair value of share consideration issued in the alani nu acquisition	0
fair value of series b preferred stock issued to pepsi [1]	0
fair value of series a preferred stock modification [1]	0
inventories		8,093,000	18,245,000	4,794,000																						1,687,241												693,881	252,009
prepaid expenses and other current assets[4]
accounts payable[5]
accrued expenses[6]
accrued promotional allowance[7]
deferred revenue[8]
purchase of property, plant and equipment[9]
taxes		9,326,000	41,513,000	669,000	102,000	20,862,000	77,850,000	320,000	23,699,000	23,016,000	9,625,000	408,000	13,744,000	-1,509,000
other operating activities			757,000	-1,014,000
prepaid expenses and other current assets			-16,958,000	-3,687,000	21,335,000	-16,792,000	-1,393,000	-2,076,000	4,426,000	-348,000	-7,892,000	-4,166,000	755,000	202,000	-2,256,000	3,513,000	9,274,473	-84,869	-5,560,712	-2,557,007	-9,895,035	-419,333	359,167	-501,586	1,282,420	-601,573	-778,434	-707,984	1,037,300	-662,608	483,992	-1,977,614	1,887,846	-1,104,655	-149,652	-876,634	185	-146,319
accounts payable[4]			9,110,000	11,679,000	11,089,000
accrued expenses[5]			1,660,000	-8,673,000	74,247,000
accrued promotional allowance[6]			48,842,000	15,379,000	-22,862,000
deferred revenue[7]
purchase of property, plant and equipment[8]
acquisition of alani nutrition llc, net of cash acquired
cash dividends paid on series a convertible preferred stock[1]
other financing activities			-2,000	321,000
effect on exchange rate changes on cash and cash equivalents			955,000	1,259,000								-181,000					-301,404	-212,755	140,926	-164,536	144,169	520,973	-8,705	-222,930
net increase in cash and cash equivalents			-362,052,000	87,095,000	-13,558,000	538,000	23,712,000	123,517,000		78,968,000								-22,412,779			-8,910,077
cash and cash equivalents at beginning of the period			0	890,190,000	0	0	0	755,981,000		0							0	0	0	43,248,021	0	0	0	23,090,682
cash and cash equivalents at end of the period			-362,052,000	977,285,000	-13,558,000	538,000	23,712,000	879,498,000		78,968,000								-22,412,779	52,155,306	31,634,675	-8,910,077	32,047,283	1,016,714	19,094,101
estimated fair value of contingent consideration in connection with the acquisition
estimated fair value of share consideration issued in connection with the acquisition
preliminary deferred payment owed to sellers in connection with the acquisition
deferred revenue[2]				-2,378,000	-2,378,000
purchase of property, plant and equipment[7]				-6,944,000
cash dividends paid on series a convertible preferred stock[2]				-6,781,000	-6,912,000
repurchase of common stock related to tax withholdings				-1,932,000	-603,000
payment of debt issuance costs				-2,195,000
impairment of intangible assets													0
loss on disposal of property, plant and equipment
foreign exchange loss					1,378,000	-277,000	264,000	369,000	988,000	52,000	137,000	69,000
accounts receivable[3]
note receivable-net
change in right of use asset and lease liability-net
acquisition of big beverages contract manufacturing l.l.c., net of cash acquired
principal payments on finance lease obligations					-15,000	-16,000	-15,000	-15,000	-11,000	-11,000	-11,000	-11,000	-14,000	-12,000	-17,000	-20,000		-22,794	-24,443	-25,149
proceeds from exercise of stock options					24,000	2,685,000	180,000	967,000	682,000	896,000	229,000	478,000	579,000	1,844,000	450,000	810,000	478,068	727,056	1,799,107	715,910	1,830,448	1,591,679	489,317	215,347	0	76,656	122,667	24,760	121,309	0	37,681	142,023	12,502	-64,660	973,733	25,000	0
proceeds from issuance of series a preferred shares, net of issuance costs													0
allowance for expected credit losses[1]
loss on disposal of property and equipment						95,000			3,000	4,000
accounts receivable-net[3]
inventories-net						-22,467,000	7,666,000	29,386,000	-35,207,000	-52,724,000				7,458,000	24,222,000	4,531,000
change in right of use and lease obligation-net						51,000	-11,000	-23,000	-38,000	-26,000	-23,000	-15,000
purchase of property and equipment[7]
effect of exchange rate changes on cash and cash equivalents						750,000	-44,000	-722,000		0																29,472	-337,082	288,584		65,949	33,685	-53,504
allowance for expected credit losses							1,822,000	2,250,000
amortization of deferred other costs							3,531,000	3,531,000	3,531,000	3,531,000	3,531,000	3,531,000	3,531,000
accounts receivable-net							-63,549,000	-18,664,000	31,713,000	-17,671,000	-25,961,000	-109,639,000	52,598,000	-51,047,000	6,500,000	-34,420,000	3,058,701	-10,039,888	-9,032,715	-9,234,501	1,562,666	-4,362,889	-1,522,134	-3,146,415
accounts payable							6,963,000	-3,013,000
accrued expenses							15,762,000	1,998,000
accrued promotional allowance							27,278,000	29,414,000	-36,770,000	37,585,000	30,747,000	32,248,000
deferred revenue							-2,379,000	-2,378,000	-2,130,000	-2,374,000	-3,594,000	-4,625,000	35,360,000
purchase of property and equipment							-9,214,000	-4,525,000	-4,746,000	-5,877,000	-4,557,000	-2,253,000	-4,787,000	-1,021,000	-1,714,000	-742,000	-755,068	-1,179,252	-518,207	-697,843	-157,080	-100,894	-208,405	-107,372	-22,653	-32,245			-16,935	-15,419	-66,346	-11,717	-18,818	-18,370	-6,014	-6,332	-3,295
cash dividends paid on series a convertible preferred stock
gain on disposal of property and equipment								-8,000
other assets								-7,672,000	-26,000	-10,000	12,000	-4,000	-19,000
dividends on series a preferred shares								-6,837,000
allowance for credit losses									248,000	792,000	251,000	837,000
gain on lease cancellations																	-13,248				0	0
dividends paid on preferred shares									-6,950,000	-6,875,000	-6,856,000	-6,781,000	-6,930,000
net proceeds from sale of common stock																					-90,800				0
cash paid during period for:
depreciation										723,000	549,000	404,000	410,000	396,000	311,000	245,000	29,924	341,340	70,227	108,198	45,083	31,829	-74,588	124,939															10,194
amortization										151,000	149,000	145,000	153,000	127,000	134,000	141,000	162,732	175,659	187,471	187,670	386,882	373,639	541,448	309,597
accounts payable and accrued expenses										27,143,000	-12,673,000	182,000	-16,554,000	41,126,000	-7,406,000	17,742,000	-1,508,553	39,115,245	15,466,686	12,112,637	7,295,142	-2,031,690	126,954	2,729,700	2,652,230	1,823,995	218,801	-2,070,134	344,063	7,013,057	-2,731,833	3,908,101	-2,099,162	5,030,379	-199,314	1,825,713	43,730	-132,122	306,186
share-based payment expense												5,507,000
deferred income taxes												2,873,000
inventory-net												17,338,000					-71,253,009
proceeds from note receivable												3,233,000	0	0			0	9,451	0	1,876,273	0	0
bad debt expense													1,647,000	239,000	11,000	455,000	1,700,828
net cash from in investing activities
payments on bonds payable
cash paid on taxes on restricted stock awards
net proceeds from collection of section 16b short swing profit
european acquisition adjustment:
goodwill																					0	0
other liabilities																					0	0
net loss																													-849,772	-4,131,714	-3,348,658	-2,876,504	-5,207,812	-1,622,244	470,773	-1,881,300	-419,542	-459,632	-14,161,573
adjustments to reconcile net loss to net cash from operating activities:
share-based compensation expense
un-realized exchange loss														405,000	517,000	85,000
deferred tax-net														30,257,000	-1,489,000	2,561,000
change in right of use assets and lease obligation-net														-31,000	-17,000	-78,000
proceeds from issuance of common stock
effect on exchange rate changes on cash														37,000	17,000	104,000
net increase in cash and restricted cash
cash and restricted cash at beginning of the period
cash and restricted cash at end of the period
supplemental cash flow disclosures:
adjustments to reconcile net income to net cash /provided/(used in) by operating activities:
net cash provided by/(used in) operating activities
proceeds from capital raise																		0
net increase in cash															34,499,000	9,277,000										15,700,200	2,068,878	-4,980,368			-1,491,802	-4,198,911				9,157,349
cash at beginning of the period															0	16,255,000										0	0	7,743,181		0	0	14,186,624		0	0	11,747,138
cash at end of the period															34,499,000	25,532,000										15,700,200	2,068,878	2,762,813		-3,181,799	-1,491,802	9,987,713		-579,160	-906,744	20,904,487
united states
sweden
finland
long-lived assets related to foreign operations
total long-lived assets-net
deposits and other current liabilities																765,000
deferred tax asset-net
un-realized exchange gain
gain on china transaction																					61,557	-407,593	-121,303	144,403
deferred tax liability-net																	0
net cash (used)/provided by operating activities
net cash provided/(used) in investing activities																				1,178,430	-157,080
principal payments on financial lease obligations
unrealized currency gain
inventory excess and obsolescence expense
change in right-of-use asset and lease liability-net																		22,495	12,545	-4,575
non-cash investing and financing activities:
bad debt allowance																			631,572	223,034	12,492	23,503	-40	221,222
inventory excess and obsolescence allowance																			506,141	753,935	535,685	349,192	133,340	-270,710
deposits/deferred revenue and other current liabilities																			165,597	174,355	-353,304	147,710	6,570	102,743
cash paid during period for: interest
inventory																				-19,242,172	-3,260,115	7,484,034	-2,607,391	-5,475,308	-2,497,942	0	0	258,688
net decrease in cash and cash equivalents																				-11,613,346
change in right to use and lease obligation-net																					622	3,883	148,222	-2,180
cash consideration for acquisition-net of cash from acquisition
proceeds from notes payable-related-party
debt conversion and related accrued expenses
net cash provided/(used) in operating activities
cash paid to escrow for acquisition
principal payments financial lease obligations																						-37,179	-157,970	-64,082
net (decrease) in cash and cash equivalents																							1,016,714	-3,996,581
adjustments to reconcile net income to net cash provided/used in operating activities:
stock-based compensation expense for services																																	0
accrued preferred dividends																													-5,805	-44,234	4,234	-51,111	-51,111	-50,556	-50,000	-51,111	-51,138
principal payments-finance leases
cash and cash equivalents at beginning of the year
cash and cash equivalents at end of the year
preferred dividends
debt conversion and related accrued expenses into common stock
non-cash items related to china settlement:
accounts receivable																									0	0	5,802,344	-2,488,198	-143,405	-6,212,457	2,449,346	-2,698,222	696,230	-2,217,930	-1,580,017	-486,209	614,539	-518,466	1,378,034
pre-paid expense and other current assets																									0	0	0	175,185
european acquisition detail of assets acquired & liabilities assumed:
intangible assets
lease liability obligations
bonds payable
adjustments to reconcile net income to net cash used in operating activities:
shares issued for settlement of legal claim
allowance for bad debt																										-6,644
inventory allowance for excess and obsolete products																										115,000
gain on investment repayment from china																										1,888	220,404	-12,273,213
accounts receivable-gross																										-1,843,705
unbilled royalty revenue																										-77,154	-85,561	-89,587
other current assets/liabilities																										17,435	34,614	45,463
net cash used in operating activities
proceeds from notes payable related party-net																										0	0	1,500,000
inventories net																												-2,332,499		-617,726	437,713	-1,363,237		-1,059,135	-679,841	-366,250
proceeds from sale of equipment
net cash provided by financing activities
conversion of convertible note to common stock, related party
conversion of accrued preferred dividend into preferred shares - related party
stock-based option compensation expense
deferred revenue and other current liabilities																														-24,370	16,924	4,059		-78,333	-263,267	179,976
net proceeds from issuance of common stock																																		0	0	9,999,948
net increase increase in cash																																		-579,160
income taxes
conversion of convertible note to common stock, related-party																																		0
net cash from in operating activities																																		-496,130	-1,874,463	-861,267
conversion of convertible note to common shares, related-party																																				1,000,000
gain on equipment
adjustments to reconcile net (loss) to net cash from operating activities:
borrowing under revolving note payable, related-party
repayment on short term notes payable, related-party
payments on short term notes payable
borrowing under short term notes payable for prepaid expense
preferred stock issued in exchange for cancellation of revolving note payable - related party
conversion of convertible note to common shares - related party
preferred stock issuance in exchange for cancellation of revolving note payable, related-party
conversion of accrued preferred dividend into preferred shares, related-party
adjustments to reconcile net loss to net cash
used in operating activities:
loss on disposal of assets
adjustment to allowance for doubtful accounts																																						-17,578	-10,713
adjustment to reserve for inventory obsolescence																																						-106,862	856,446
issuance of stock options																																						30,845
amortization of debt discount																																							131,550
loss on extinguishment of debt
purchases of property, fixtures and equipment																																							-22,019
proceeds from sale of common stock
and exercise of stock options
repayment of loans payable																																							20,697
proceeds from debt to related parties
repayment of debt to related parties																																						-13,433
increase in cash																																						-662,574
cash, beginning of period																																						1,320,665
cash, end of period																																						658,091
supplemental disclosures of cash flow information:
cash paid during the year for interest																																						61,284	-61
cash paid during the year for taxes
issuance of shares for note payable																																							5,046,000
adjustments to reconcile net loss to net cash used in operating activities:
issuance of stock options and warrant
loss on extinguishment of debt, related party
issuance of shares as compensation
prepaid expenses and other assets
proceeds from sale of preferred stock
proceeds from issuance of convertible notes
proceeds from note receivable, related party
repayment of note to related parties
cash, beginning of year
cash, end of year
non-cash financing and investing activities
debt discount for beneficial conversion feature
deposit from customer
proceeds from convertible notes
proceeds from note payable, related party
proceeds from loans payable
decrease in cash
the accompanying notes are an integral part of these unaudited condensed consolidated financial statements

Celsius Holdings(NASDAQ:CELH)

Celsius Holdings
(NASDAQ:CELH)