• 🤩 Celsius: Welcome to the Billion Dollar Club
• 🐲 Monster: Sales Up, But Share Slides in C-Stores
• 🌾 SunOpta: Bluer Skies Lie Beyond Current Losses
• 🫧 Topo Chico Officially Gets in on Mixers
• 🚚 Dirty Shirley Hits the Road With SGSW

Momentum continues for fitness-focused energy drink brand Celsius which posted about 100% revenue gains year-over-year in both its fourth quarter and FY2023 earnings report this morning, topping $1 billion in full-year revenue for the first time ever. 

Let’s look at the numbers:

• In Q4, Celsius posted revenue of $347.4 million, a 95% gain compared to Q4 2022. The company reported 102% increase in its FY2023 revenue versus the previous year.
• Gross margin were about 48% in both the Q4 and full-year results.
• Non-GAAP Adjusted EBITDA was up 316% to about $296 million for FY2023, compared to $71 million in the prior year.

🔵 With its strategic distribution partnership PepsiCo, the company has maximized its foodservice channel sales. Celsius also put significant resources behind its branded coolers where it currently has over 10,000 refrigerated cases across the U.S. representing over 300% gain year-over-year.

🗺️ Taking a “methodical” approach to international expansion, the energy brand announced its entrance into the UK and Ireland last year partnering with Suntory Beverage on the island nations which it expects to show results in through the second quarter 2024. 

Read the full earnings recap on BevNET

Calexo is crafted with premium juices, botanicals and a low dose of hemp, creating a delicious and uplifting experience. A festive mood enhancing refreshment, Calexo’s sparkling drinks are infused with 5mg of hemp derived THC + CBD, offering a quickly felt light lift without the hangovers. Learn more

Lowered freight and aluminum costs, as well as higher international pricing helped boost Monster Beverage Company’s Q4 and full year 2023 earnings.

• Q4 net sales were up 14.4% to $1.73 billion and full year net sales grew 13.1% to $7.14 billion.
• Gross profit margin rose to 54.2% in Q4 and 53.1% for the full year, bolstered by cheaper materials and shipping.
• Competition in the energy category may be taking its toll: Monster’s market share in the convenience and gas channel, including energy shots, fell from 36.9% to 35.5%, excluding Bang. Including Bang, market share was 37%.
• While Monster increased prices in numerous international markets last year, the company said it is still weighing whether price hikes will come to the U.S. this year. Co-CEO Hilton Schlosberg cautioned that any prospective increases will be in line with the category, namely within “a particular percentage of Red Bull.”

Read the full earnings recap on BevNET

Plant-based milk supplier SunOpta is trending positive despite another year of double-digit revenue declines, beating analysts’ expectations by posting $11.7 million in losses for Q4 2023 and $181.6 million for the year in its latest earnings report. 

📈 In Q4 2023, revenue increased +14% (to $181 million) year-over-year, a healthy jump over +6% in the previous quarter. Operating income rose $47.8% to $5.1 million.

🥛 Revenue increased 19% (to $147 million) in SunOpta’s beverage and broth product group, representing 81% of the company’s Q4 revenue. Growth was “over 100% attributable to volume and mix,” thanks in large part to continued “robust” gains from oat milk, along with creamers and tea. 

💪🏼 Protein shakes are also starting to ramp up after recent strong performances in tracked channels; the category is up 40% year-over-year in the last 13 weeks. The company expects to be close to its full run rate on protein shakes at its new production facility in Midlothian, Texas by the end of Q2. 

Read the full earnings recap on BevNET

Coca-Cola’s Topo Chico has gone from a non-alc mineral water to a hard seltzer to a spirit-based version and now back to a different kind of non-alc product. This one is meant to pair with booze.

🍸The brand is launching a new line of non-alc mixers including Ginger Beer, Tonic Water and Club Soda that are aiming for the occasions in which consumers would otherwise use the sparkling water as a cocktail mixer. 

🛒 This launch from Coca-Cola puts it in the alcohol adjacent space without tapping its partnerships like Molson Coors or Brown-Forman, which it has leveraged to recreate a cocktail experience with its various products. 

✅ The mixer shelf has been evolving with the rise of non-alc products and RTD cocktails, and Coca-Cola is likely aiming to get in on the post-pandemic boost experienced by premium brands like Fever Tree and new entrants like  Betty Buzz.

Aiming to capture the trendy bar call in can form, Dirty Shirley has now got a bigger engine to power its expansion via Southern Glazer’s Wine & Spirits (SGWS). The brand will be moving into 12 states with the distributor. 

🥃 Last November we covered Dirty Shirley as it launched two new flavors and jumped from Washington, Michigan, Tennessee, Texas, Illinois, Arkansas, and Colorado into several new states. Like The Finnish Long Drink or Lone River Ranch Water, Dirty Shirley’s founder is looking to find success by becoming the call brand through building a story around a very specific cocktail that doesn’t have much competition in the canned space. 

 👋🏼 The brand isn’t the only flavor-forward RTD with nostalgia-driven branding to strike a recent deal with SGWS: Dr. Dre and Snoop Dogg’s Gin & Juice also began rolling out through the distributor this month. Is it the season for millennial-focused RTDs?

☑️ Comfy shoes

☑️ Hand sanitizer

☑️ Business cards

⬜ Nosh’s Unofficial Guide to Expo West

Before setting foot in Anaheim, read our practical primer for the biggest trade show of the year. It all drops March 4 at Nosh.com.