10-K Filing

CELSIUS HOLDINGS, INC. CIK: 1341766 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0000950170-22-003965`
Period End Date	20211231
Filing Date	20220316
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	celh-20211231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 50 Cash Flow Statement 72 Stockholders Equity 18

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$43.25M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$23.09M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	72.26M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	74.91M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$16.25M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	72.26M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	74.91M	shares	Point-in-time
Accounts receivable-net (note 2)	`AccountsReceivableNetCurrent`	$38.74M	USD	Point-in-time
Accounts receivable-net (note 2)	`AccountsReceivableNetCurrent`	$14.99M	USD	Point-in-time
Note receivable-current (note 6)	`NotesAndLoansReceivableNetCurrent`	$1.89M	USD	Point-in-time
Note receivable-current (note 6)	`NotesAndLoansReceivableNetCurrent`	$2.59M	USD	Point-in-time
Inventories-net (note 4)	`InventoryNet`	$191.22M	USD	Point-in-time
Inventories-net (note 4)	`InventoryNet`	$18.40M	USD	Point-in-time
Prepaid expenses and other current assets (note 5)	`PrepaidExpenseAndOtherAssetsCurrent`	$14.63M	USD	Point-in-time
Prepaid expenses and other current assets (note 5)	`PrepaidExpenseAndOtherAssetsCurrent`	$13.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$93.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$262.36M	USD	Point-in-time
Note receivable (note 6)	`NotesAndLoansReceivableNetNoncurrent`	$7.12M	USD	Point-in-time
Note receivable (note 6)	`NotesAndLoansReceivableNetNoncurrent`	$9.43M	USD	Point-in-time
Property and equipment-net (note 8)	`PropertyPlantAndEquipmentNet`	$3.18M	USD	Point-in-time
Property and equipment-net (note 8)	`PropertyPlantAndEquipmentNet`	$579.38K	USD	Point-in-time
Deferred tax asset (note 14)	`DeferredIncomeTaxAssetsNet`	-	USD	Point-in-time
Deferred tax asset (note 14)	`DeferredIncomeTaxAssetsNet`	$9.02M	USD	Point-in-time
Right of use assets-operating leases (note 7)	`OperatingLeaseRightOfUseAsset`	$1.13M	USD	Point-in-time
Right of use assets-operating leases (note 7)	`OperatingLeaseRightOfUseAsset`	$836.04K	USD	Point-in-time
Right of use assets-financial leases (note 7)	`FinanceLeaseRightOfUseAsset`	$85.95K	USD	Point-in-time
Right of use assets-financial leases (note 7)	`FinanceLeaseRightOfUseAsset`	$162.12K	USD	Point-in-time
Long term security deposits	`DepositsAssets`	$122.73K	USD	Point-in-time
Long term security deposits	`DepositsAssets`	$299.83K	USD	Point-in-time
Intangibles (note 9)	`IntangibleAssetsNetExcludingGoodwill`	$16.30M	USD	Point-in-time
Intangibles (note 9)	`IntangibleAssetsNetExcludingGoodwill`	$16.59M	USD	Point-in-time
Goodwill (note 9)	`Goodwill`	$10.42M	USD	Point-in-time
Goodwill (note 9)	`Goodwill`	$14.53M	USD	Point-in-time
Total Assets	`Assets`	$314.02M	USD	Point-in-time
Total Assets	`Assets`	$131.29M	USD	Point-in-time
Accounts payable and accrued expenses (note 10)	`AccountsPayableAndAccruedLiabilitiesCurrent`	$91.48M	USD	Point-in-time
Accounts payable and accrued expenses (note 10)	`AccountsPayableAndAccruedLiabilitiesCurrent`	$25.41M	USD	Point-in-time
Lease liability obligation-operating leases (note 7)	`OperatingLeaseLiabilityCurrent`	$321.28K	USD	Point-in-time
Lease liability obligation-operating leases (note 7)	`OperatingLeaseLiabilityCurrent`	$511.76K	USD	Point-in-time
Lease liability obligation-financial leases (note 7)	`FinanceLeaseLiabilityCurrent`	$205.82K	USD	Point-in-time
Lease liability obligation-financial leases (note 7)	`FinanceLeaseLiabilityCurrent`	$157.05K	USD	Point-in-time
Other current liabilities (note 11)	`OtherLiabilitiesCurrent`	$976.07K	USD	Point-in-time
Other current liabilities (note 11)	`OtherLiabilitiesCurrent`	$425.23K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$93.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.37M	USD	Point-in-time
Lease liability obligation-operating leases (note 7)	`OperatingLeaseLiabilityNoncurrent`	$514.95K	USD	Point-in-time
Lease liability obligation-operating leases (note 7)	`OperatingLeaseLiabilityNoncurrent`	$657.93K	USD	Point-in-time
Lease liability obligation-financial leases (note 7)	`FinanceLeaseLiabilityNoncurrent`	$45.41K	USD	Point-in-time
Lease liability obligation-financial leases (note 7)	`FinanceLeaseLiabilityNoncurrent`	$82.29K	USD	Point-in-time
Deferred tax liability (note 14)	`DeferredIncomeTaxLiabilities`	-	USD	Point-in-time
Deferred tax liability (note 14)	`DeferredIncomeTaxLiabilities`	$3.15M	USD	Point-in-time
Total Liabilities	`Liabilities`	$26.96M	USD	Point-in-time
Total Liabilities	`Liabilities`	$96.97M	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized, 74,908,845 and 72,262,829 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively (note 13)	`CommonStockValue`	$74.91K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized, 74,908,845 and 72,262,829 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively (note 13)	`CommonStockValue`	$72.26K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$267.85M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$159.88M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-202.14K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$613.65K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-55.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-51.49M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$104.33M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$63.46M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$217.05M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$314.02M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$131.29M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Revenue (note 3)	`Revenues`	$314.27M	USD	Annual
Revenue (note 3)	`Revenues`	$130.73M	USD	Annual
Cost of revenue (note 2)	`CostOfRevenue`	$69.75M	USD	Annual
Cost of revenue (note 2)	`CostOfRevenue`	$186.10M	USD	Annual
Gross profit	`GrossProfit`	$60.97M	USD	Annual
Gross profit	`GrossProfit`	$128.17M	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$34.88M	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$74.74M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$57.52M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$18.19M	USD	Annual
Total operating expense	`OperatingExpenses`	$132.26M	USD	Annual
Total operating expense	`OperatingExpenses`	$53.06M	USD	Annual
Income/(loss) from operations	`OperatingIncomeLoss`	$7.91M	USD	Annual
Income/(loss) from operations	`OperatingIncomeLoss`	$-4.09M	USD	Annual
Interest income on note receivable (note 6)	`InterestAndDividendIncomeOperating`	$355.82K	USD	Annual
Interest income on note receivable (note 6)	`InterestAndDividendIncomeOperating`	$314.83K	USD	Annual
Interest expense on bonds	`InterestExpenseSubordinatedNotesAndDebentures`	-	USD	Annual
Interest expense on bonds	`InterestExpenseSubordinatedNotesAndDebentures`	$431.81K	USD	Annual
Interest on other obligations	`InterestOnOtherObligations`	$16.00K	USD	Annual
Interest on other obligations	`InterestOnOtherObligations`	$7.50K	USD	Annual
Amortization of discount on bonds payable	`AmortizationOfDiscountOnBondsPayable`	-	USD	Annual
Amortization of discount on bonds payable	`AmortizationOfDiscountOnBondsPayable`	$-576.41K	USD	Annual
Other miscellaneous expense	`OtherMiscellaneousExpense`	-	USD	Annual
Other miscellaneous expense	`OtherMiscellaneousExpense`	$-49.10K	USD	Annual
Gain on lease cancellations	`GainLossOnTerminationOfLease`	$152.11K	USD	Annual
Gain on lease cancellations	`GainLossOnTerminationOfLease`	-	USD	Annual
Foreign exchange gain/(loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.38M	USD	Annual
Foreign exchange gain/(loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-276.26K	USD	Annual
European deferred tax (note 14)	`EuropeanDeferredTax`	$81.50K	USD	Annual
European deferred tax (note 14)	`EuropeanDeferredTax`	-	USD	Annual
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$31.07K	USD	Annual
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$729.03K	USD	Annual
Net income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.64M	USD	Annual
Net income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.06M	USD	Annual
Income tax benefit (expense) (note 14)	`IncomeTaxExpenseBenefit`	$116.18K	USD	Annual
Income tax benefit (expense) (note 14)	`IncomeTaxExpenseBenefit`	$-8.00M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$8.52M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$3.94M	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$551.38K	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$815.79K	USD	Annual
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$4.75M	USD	Annual
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$9.08M	USD	Annual
Basic	`EarningsPerShareBasic`	$0.05	USD	Annual
Basic	`EarningsPerShareBasic`	$0.12	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.11	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.05	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	73.78M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	70.20M	shares	Annual
Diluted1	`WeightedAverageNumberOfDilutedSharesOutstanding`	74.44M	shares	Annual
Diluted1	`WeightedAverageNumberOfDilutedSharesOutstanding`	77.69M	shares	Annual

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.52M	USD	Annual
Net income	`NetIncomeLoss`	$3.94M	USD	Annual
Depreciation	`Depreciation`	$549.69K	USD	Annual
Depreciation	`Depreciation`	$127.26K	USD	Annual
Amortization	`AdjustmentForAmortization`	$1.48M	USD	Annual
Amortization	`AdjustmentForAmortization`	$713.53K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$1.49M	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$257.18K	USD	Annual
Inventory excess and obsolescence allowance	`InventoryAllowanceForExcessAndObsoleteProducts`	$-747.51K	USD	Annual
Inventory excess and obsolescence allowance	`InventoryAllowanceForExcessAndObsoleteProducts`	$-2.35M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$6.34M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$36.48M	USD	Annual
Deferred tax asset-net	`DeferredTaxAssetNet`	$-9.02M	USD	Annual
Deferred tax asset-net	`DeferredTaxAssetNet`	-	USD	Annual
Un-realized exchange gain	`ForeignCurrencyTransactionGainLossUnrealized`	-	USD	Annual
Un-realized exchange gain	`ForeignCurrencyTransactionGainLossUnrealized`	$879.85K	USD	Annual
Gain on China transaction	`GainLossOnInvestments`	$322.94K	USD	Annual
Gain on China transaction	`GainLossOnInvestments`	-	USD	Annual
Gain on lease cancellations	`GainOnLeaseCancellations`	$27.92K	USD	Annual
Gain on lease cancellations	`GainOnLeaseCancellations`	$152.11K	USD	Annual
Accounts receivable-net	`IncreaseDecreaseInAccountsReceivable`	$25.25M	USD	Annual
Accounts receivable-net	`IncreaseDecreaseInAccountsReceivable`	$7.47M	USD	Annual
Inventory-net	`IncreaseDecreaseInInventories`	$3.86M	USD	Annual
Inventory-net	`IncreaseDecreaseInInventories`	$175.17M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.07M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$10.46M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$65.19M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.12M	USD	Annual
Deferred tax liability-net	`DeferredTaxLiabilitynet`	-	USD	Annual
Deferred tax liability-net	`DeferredTaxLiabilitynet`	$-182.16K	USD	Annual
Deposits and other current liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherCurrentLiabilities`	$-96.28K	USD	Annual
Deposits and other current liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherCurrentLiabilities`	$373.74K	USD	Annual
Change in right of use and lease obligation-net	`ChangeInRightToUseAndLeaseObligationnet`	$150.55K	USD	Annual
Change in right of use and lease obligation-net	`ChangeInRightToUseAndLeaseObligationnet`	$28.91K	USD	Annual
Net cash (used)/provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.40M	USD	Annual
Net cash (used)/provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-96.59M	USD	Annual
Proceeds from note receivable	`ProceedsFromSaleOfNotesReceivable`	$1.89M	USD	Annual
Proceeds from note receivable	`ProceedsFromSaleOfNotesReceivable`	$1.33M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.15M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$573.75K	USD	Annual
Net cash provided/(used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.26M	USD	Annual
Net cash provided/(used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$757.26K	USD	Annual
Payments on bonds payable	`PaymentsOnBondsPayable`	$9.60M	USD	Annual
Payments on bonds payable	`PaymentsOnBondsPayable`	-	USD	Annual
Principal payments on financial lease obligations	`FinanceLeasePrincipalPayments`	$280.21K	USD	Annual
Principal payments on financial lease obligations	`FinanceLeasePrincipalPayments`	$94.10K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$4.13M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.72M	USD	Annual
Cash paid on taxes on restricted stock awards	`ProceedsFromPaymentsForOtherFinancingActivities`	$656.68K	USD	Annual
Cash paid on taxes on restricted stock awards	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	Annual
Net proceeds from collection of section 16b short swing profit	`NetProceedsFromCollectionOfSectionShortSwingProfit`	-	USD	Annual
Net proceeds from collection of section 16b short swing profit	`NetProceedsFromCollectionOfSectionShortSwingProfit`	$90.80K	USD	Annual
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$21.89M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$71.40M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.57M	USD	Annual
Effect on exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$433.51K	USD	Annual
Effect on exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-537.77K	USD	Annual
Net (decrease)/increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$20.16M	USD	Annual
Net (decrease)/increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-26.99M	USD	Annual
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$43.25M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$23.09M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$16.25M	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$43.25M	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$23.09M	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$16.25M	USD	Point-in-time
Interest	`InterestPaidNet`	$447.82K	USD	Annual
Interest	`InterestPaidNet`	$7.43K	USD	Annual
Goodwill	`GoodwillImpairmentLoss`	-	USD	Annual
Goodwill	`GoodwillImpairmentLoss`	$395.51K	USD	Annual
Other liabilities	`NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1`	-	USD	Annual
Other liabilities	`NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1`	$395.51K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$104.33M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$63.46M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$217.05M	USD	Point-in-time
Issuance of common stock from private placement	`IssuanceOfCommonStockFromPrivatePlacement`	$67.77M	USD	Annual
Issuance of common stock from private placement	`IssuanceOfCommonStockFromPrivatePlacement`	$21.89M	USD	Annual
Stock option expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$6.34M	USD	Annual
Stock option expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$36.48M	USD	Annual
Issuance of common stock pursuant to exercise of stock options - Cash	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.72M	USD	Annual
Issuance of common stock pursuant to exercise of stock options - Cash	`StockIssuedDuringPeriodValueStockOptionsExercised`	$4.13M	USD	Annual
Cash paid for taxes on restricted stock awards	`CashPaidForTaxesOnRestrictedStockAwards`	$-656.68K	USD	Annual
Foreign currency translation	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$551.38K	USD	Annual
Foreign currency translation	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$815.79K	USD	Annual
Short swing payment	`ShortSwingPayment`	$90.80K	USD	Annual
Net income	`ProfitLoss`	$8.52M	USD	Annual
Net income	`ProfitLoss`	$3.94M	USD	Annual
Ending Balance, value	`StockholdersEquity`	$104.33M	USD	Point-in-time
Ending Balance, value	`StockholdersEquity`	$63.46M	USD	Point-in-time
Ending Balance, value	`StockholdersEquity`	$217.05M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.