Celsius Holdings, Inc. (NASDAQ:CELH) Q4 2023 Earnings Conference Call February 29, 2024 10:00 AM ET

Company Participants

Paul Wiseman - Investor Relations

John Fieldly - Chairman and Chief Executive Officer

Jarrod Langhans - Chief Financial Officer

Conference Call Participants

Mark Astrachan - Stifel

Peter Grom - UBS

Michael Lavery - Piper Sandler

Gerald Pascarelli - Wedbush Securities

Sean McGowan - ROTH Capital Partners

Eric Serotta - Morgan Stanley

Jim Salera - Stephens

Operator

Greetings and welcome to Celsius’ Full Year 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce Paul Wiseman, Investors Relations for Celsius. Thank you. You may begin.

Paul Wiseman

Thank you and good morning, everyone. We appreciate you joining us today for Celsius Holdings fourth quarter 2023 earnings conference call. Joining me on the call today are John Fieldly, Chairman and Chief Executive Officer; and Jarrod Langhans, Chief Financial Officer. The call will open to questions following the prepared remarks.

The company released its fourth earnings press release earlier this morning and all materials are available on the company’s website celsiusholdingsinc.com as well as on the SEC’s website, sec.gov. As a reminder, an audio replay of this call will be available later today and can be accessed with the same live webcast link in our conference call announcement release.

Please be aware that this call may contain forward-looking statements, which are based on forecasts, expectations and other information available to management at this time. These statements involve numerous risks and uncertainties, including many that are beyond the company’s control. Except to the extent as required by law, Celsius Holdings undertakes no obligations and disclaims any duty to update any of these forward-looking statements. We encourage you to review in full our Safe Harbor statements contained in today’s press release and in our quarterly filings with the SEC for additional information.

Additionally, management will share operating results on both a GAAP and non-GAAP basis. Descriptions of the non-GAAP financial measures that we use, such as non-GAAP adjusted EBITDA and reconciliations of these measures to our results as reported in accordance with GAAP are detailed in our earnings release for the fourth quarter of 2023.

With that, I’d like to turn the call over to Chairman and Chief Executive Officer, John Fieldly, for his prepared remarks.

John Fieldly

Thank you and welcome everyone to today’s call. Also welcome to Paul Wiseman, who recently joined Celsius as our Senior Vice President of Communications. Celsius had a stellar 2023 fourth quarter, the best earnings year in our company’s history. We have achieved nearly complete distribution coverage in the United States topping 98% ACV which is a major achievement, putting our products in reach of more consumers and more consumption occasions with greater flavors and size options than ever before. In 2023, Celsius set a new yearly revenue record, growing more than 102% or $664 million in sales to finish the year at just over $1.3 billion. Celsius is now truly a $1 billion brand.