Celsius Holdings, Inc.CELH

Celsius Holdings, Inc. Earnings Per Share Disclosure

10-KFiled Mar 3, 20252 min read
EARNINGS PER SHARE
The Company’s Series A Preferred Stock is classified as a participating security in accordance with ASC 260. Net income allocated to the holders of Series A Preferred Stock is based on the Series A stockholders’ proportionate share of weighted average shares of common stock outstanding on an if-converted basis. The Series A Preferred Stock is not contractually obligated to share in losses.

Under the two-class method, for diluted EPS, net income is reallocated to the Series A Preferred Stock, and all potentially dilutive securities based on the contractual participating rights of the respective securities to share in the current earnings as if all of the earnings for the period had been distributed. Common shares issuable under PSU awards were excluded from the dilutive EPS calculation as the related target goals had not been met as of the reporting period end date.
For the years ended December 31,
202420232022
Numerator:
Net income (loss)$145,074 $226,801 $(187,282)
Dividends on Series A convertible preferred stock(27,500)(27,462)(11,526)
Income allocated to participating preferred stock(10,117)(17,348)— 
Net income (loss) attributable to common stockholders$107,457 $181,991 $(198,808)
Effect of dilutive securities:
Allocation of earnings to participating securities
$10,117 $17,348 $— 
Reallocation of earnings to participating securities
(9,971)(16,934)— 
Net income (loss) available to common stockholders after assumed conversions$107,603 $182,405 $(198,808)
Denominator:
Weighted average basic common shares outstanding, basic[1]
233,667 230,784 226,947 
Dilutive effect of common shares
3,737 6,180 — 
Weighted-average common shares outstanding, diluted237,404 236,964 226,947 
Earnings per share:[1]
Basic$0.46 $0.79 $(0.88)
Diluted
$0.45 $0.77 $(0.88)
(1) Forward Stock Split - The share numbers have been retrospectively adjusted to reflect the three-for-one stock split that became effective on November 13, 2023. See Note 2. Basis of Presentation and Summary of Significant Accounting Policies for more information.
For the years ended December 31, 2024, 2023 and 2022, approximately 22.0 million, 22.0 million, and 30.6 million potentially dilutive securities were excluded from the computation of diluted earnings per share related to common stockholders, as their effect was antidilutive.
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About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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