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Celsius Holdings cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$128M in Q3 2026 · $269M over twelve months

Operating cash flow$154M
Capital spending−$26.2M
Free cash flow+$128M
Cash / net income1.2×
Cash conversion cycle113 days

Analysis

In Q3 2026, Celsius Holdings generated $154M of operating cash flow and spent $26.2M on capital projects, leaving free cash flow of $128M. That is $194M less than in Q3 2025 ($321M).

Over the twelve months to Sep 30, 2026, operating cash flow was $331M; the largest uses were other financing ($481M), capital spending ($61.7M), buybacks ($12.5M); the cash balance fell by $232M.

Operating cash flow was $154M against net income of $127M — 1.2× profit, cash ran ahead of reported earnings. The largest differences: accrued liabilities −$96.7M, receivables +$66.8M, other liabilities +$32.2M.

Its cash conversion cycle was 113 days (receivables 76 + inventory 78 − payables 40).

Free cash flow

Celsius Holdings: free cash flow by quarterCelsius Holdings: free cash flow by quarter$70.3MQ4 2024$96.4MQ1 2025$35.5MQ2 2025$321MQ3 2025−$130MQ4 2025$65.8MQ1 2026$205MQ2 2026$128MQ3 2026
Operating cash flow less capital spending.
Celsius Holdings: operating cash flow against capital spendingCelsius Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$75.7M$5.4MQ4 2024$103M$6.9MQ1 2025$43.7M$8.2MQ2 2025$332M$10.3MQ3 2025−$119M$10.5MQ4 2025$73.7M$7.9MQ1 2026$223M$17.1MQ2 2026$154M$26.2MQ3 2026
Latest (Q3 2026): Operating cash flow $154M, Capital spending $26.2M.

Capital allocation, year by year

Celsius Holdings: where the cash came from (up) and went (down), by fiscal yearCelsius Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$96.6MFY2021: Net borrowing −$94KFY2021: Shares issued $71.5MFY2021: Capital spending −$3.1M$71.5MFY2021FY2022: Operating cash flow $108MFY2022: Net borrowing −$63KFY2022: Shares issued $546MFY2022: Capital spending −$8.3M$654MFY2022FY2023: Operating cash flow $141MFY2023: Net borrowing −$44KFY2023: Shares issued $2.3MFY2023: Capital spending −$17.4M$144MFY2023FY2024: Operating cash flow $263MFY2024: Net borrowing −$61KFY2024: Shares issued $3.9MFY2024: Capital spending −$23.4MFY2024: Acquisitions −$75.3MFY2024: Buybacks −$2.3M$267MFY2024FY2025: Operating cash flow $359MFY2025: Net borrowing $698MFY2025: Capital spending −$36.1MFY2025: Buybacks −$5.7M$1.1BFY2025
Over these 5 years operating cash flow totalled $775M; the largest uses were operating cash flow ($96.6M) and capital spending ($88.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$701M
Debt$675M
Net cash$25.9M
Due within a year$7.0M

Celsius Holdings funds itself: free cash flow was $269M over the last twelve months, and $701M of cash and investments stands against $675M of debt ($7.0M due within a year, 100.1× covered by cash).

Celsius Holdings: debt maturities by year (FY2025)Celsius Holdings: debt maturities by year (FY2025)$7.0MYear 1$7.0MYear 2$7.0MYear 3$7.0MYear 4$7.0MYear 5$663MAfter year 5
Principal due in each year as disclosed in the annual report, against $701M of cash and investments now.

Where the cash came from and went

Celsius Holdings: sources (+) and uses (−) of cash, Q3 2026Celsius Holdings: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$154MCash drawn (+) / kept (−)−$67.5MOther financing−$59.7MCapital spending−$26.2MBuybacks−$300KExchange rates−$212K
Celsius Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Celsius Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing−$481MOperating cash flow$331MCash drawn (+) / kept (−)$232MCapital spending−$61.7MBuybacks−$12.5MOther investing−$6.2MExchange rates−$1.1M

From profit to cash

Celsius Holdings: net income to operating cash flow, Q3 2026Celsius Holdings: net income to operating cash flow, Q3 2026Net income$127MDepreciation & amortization$10.6MStock-based pay$8.7MDeferred taxes$26.8MReceivables$66.8MInventory$3.6MPayables−$10.7MAccrued liabilities−$96.7MDeferred revenue−$5.3MPrepaid and other assets−$31.6MOther liabilities$32.2MIncome taxes payable−$28.3MOperating cash flow$154M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026767840113
Q2 2026878143125
Q1 2026917837132
Q4 2025817529127
Q3 2025646729102
Q1 2025727829121
Q4 2024669120138

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$154M−$26.2M—−$300K——−$67.5M$128M
Q2 2026$223M−$17.1M—−$1.0M−$1.8M—−$83.9M$205M
Q1 2026$73.7M−$7.9M—−$8.8M−$1.8M—−$9.2M$65.8M
Q4 2025−$119M−$10.5M—−$2.5M−$200M—$392M−$130M
Q3 2025$332M−$10.3M−$22.4M−$400K−$2.2M—−$317M$321M
Q2 2025$43.7M−$8.2M—−$900K——$362M$35.5M
Q1 2025$103M−$6.9M—−$1.9M——−$87.1M$96.4M
Q4 2024$75.7M−$5.4M−$75.3M−$603K−$15K$24K$13.6M$70.3M

Celsius Holdings: income statement and cash flow

Celsius Holdings, Q3 2026: revenue $847M (+17% year over year), operating margin 20.3%. The chart follows the revenue to costs, profit and cash.

Celsius Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.