Celsius Holdings makes and sells functional energy drinks in the U.S. and internationally under three brands: Celsius, Alani Nu, and Rockstar. The flagship Celsius brand targets fitness and active-lifestyle consumers with a zero-sugar, functional-ingredient formulation across canned, powder, and hydration formats. Alani Nu, acquired in April 2025, is a female-focused energy brand known for bold flavors and a strong social media following, and also sells adjacent wellness products like protein shakes and supplements. Rockstar, acquired from PepsiCo in August 2025, is a legacy energy brand targeting a broader culture and music consumer segment, and is currently being stabilized and integrated. Together, the three brands hold roughly 20% of the U.S. energy drink market. Celsius distributes all three brands primarily through PepsiCo's direct-store-delivery network, which gives Celsius broad reach across convenience, grocery, mass merchants, club stores, and e-commerce. PepsiCo is the largest customer, accounting for roughly 43% of FY25 revenue, which is both a key distribution advantage and a concentration risk. Celsius outsources most manufacturing to third-party co-packers and supplements this with an in-house facility. Gross margins were diluted by acquisition integration costs in FY25, and management is targeting a return to the low-to-mid 50% range as synergies from the Alani Nu and Rockstar integrations are captured. Celsius also has a small but growing international business spanning roughly 10 markets.