Shares in Celsius Holdings tumbled in pre-market trading today (6 August) after the energy-drinks group's second-quarter numbers missed Wall Street expectations.

Celsius's second-quarter revenue grew 11% to $817.9m, contributing to a 50% in the first half to $1.6bn.

However, William Blair analyst Jon Andersen said Celsius's second-quarter sales came in 8% below the financial services firm's estimate and 6% below the consensus forecast among Wall Street analysts.

Celsius booked a 12% drop in adjusted EBITDA in the quarter to $184.2m. Andersen also said the group's EBITDA in the quarter was equally 6% below the expectations of William Blair and Wall Street.

In the first half, Celsius still saw its adjusted EBITDA grow 36% to $379.6m.

In the quarter, Celsius said it saw the revenue of its namesake brand decline by nearly 12%, due to higher "trade and promotional investment" and the timing of shipments linked to "inventory rebalancing".

It also attributed the drop to "softness in the club channel, a planned moderation in innovation activity during the period and SKU optimisation initiatives implemented in conjunction with the integration of our recent acquisitions and Alani Nu’s distribution transition".

The international revenue Celsius derived from its namesake brand reached $27.2m in the second quarter, a 10% rise on the same period last year, aided by "strong momentum" in the company's "more established Nordic markets" and countries such as the UK, France and Australia.

"While the quarter was below expectations, we see potential for stronger organic sales results as space gains take effect and SKU rationalisation winds down for the Celsius brand," Andersen said in his note to clients.

In the three-months ended 30 June, Celsius saw Alani Nu sales reach $364.4m, which represented growth, though the company did not clarify by how much.

It said the brand "benefited from strong consumer demand, increased orders from our largest customer as the brand transitioned into the PepsiCo distribution system", as well as a limited-edition flavour launch. 

Last year, Celsius reached an agreement to allow PepsiCo to manage distribution in the US and Canada for the energy drinks major's Alani Nu brand.

As part of the deal, which also saw PepsiCo increase its stake in Celsius, the Florida-based business also acquired the Rockstar Energy brand in the US and Canada from PepsiCo.

In its results statement, CEO John Fieldly, said: "We remain focused on improving assortment productivity and strengthening execution to return brand Celsius to sustainable growth.

"We are confident the actions we are taking will strengthen the brand, and with a broader, more diversified portfolio, we believe we are well positioned to drive durable, long-term growth."

Second-quarter net income slumped 45% to $55.3m but was still up 15% in the first-half at $144.3m. The same measure but attributed to common shareholders slid 57% in the quarter to $36.4m. It inched up 1% in the first six months of 2026 to $119.9m

Shares in Celsius in pre-market trading were down over 12% as of 14:14 BST today.