Celsius Holdings Inc CELH shares are trading higher Thursday after the company reported its third-quarter financial results.
Celsius said third-quarter revenue jumped 98% year-over-year to $188.2 million, which beat average analyst estimates of $161.91 million, according to Benzinga Pro. The company reported a quarterly net loss of $2.46 per share, which was down from a net loss of 13 cents per share year-over-year.
Celsius said its third-quarter results were negatively impacted by a $155.4 million expense in sales and marketing related to a termination expense of prior distributors recognized.
Celsius added an additional 550 coolers during the quarter and over 3,500 since the beginning of 2021. The company anticipates a continued acceleration of cooler placements through 2023.
See Also: $1000 Invested In Celsius Holdings 10 Years Ago Would Be Worth This Much Today
CELH Price Action: Celsius has a 52-week high of $118.18 and a 52-week low of $38.31.
THe stock was up 17.5% at $92.40 at time of publication.
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