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Celsius vs Zevia PBC: revenue, profit, margins and growth compared

Celsius brought in $2.5B of revenue in fiscal 2025, Zevia PBC $161.3M in fiscal 2025. Revenue changed by +85.5% at Celsius and +4.0% at Zevia PBC on the year before, so Celsius grew faster. Celsius kept 4.3% of its revenue as net profit, Zevia PBC -6.2%. Free cash flow was $323.4M at Celsius and -$5M at Zevia PBC.

Side by side, latest fiscal year

CELHZVIA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.5B$161.3M
Revenue growth+85.5%+4.0%
Net income$108M-$9.9M
Net margin4.3%-6.2%
Free cash flow$323.4M-$5M
Free cash flow margin12.9%-3.1%
Earnings per share (diluted)$0.25-$0.15
Cash$398.9M$25.4M
Debt$676.9Mn/a
Price to earnings112.0n/a
Market value$7.1B$102.9M
Dividend yieldn/an/a
Rank by revenue in sector#43 of 93 · Consumer staples#79 of 93 · Consumer staples

Over the years

Revenue
CELH FY2018: $52.6MCELH FY2019: $75.1MCELH FY2020: $130.7MCELH FY2021: $314.3MCELH FY2022: $653.6MCELH FY2023: $1.3BCELH FY2024: $1.4BCELH FY2025: $2.5BZVIA FY2021: $110MZVIA FY2021: $138.2MZVIA FY2022: $163.2MZVIA FY2023: $166.4MZVIA FY2024: $155MZVIA FY2025: $161.3MFY18FY19FY20FY21FY22FY23FY24FY25
CELH $2.5BZVIA $161.3M
Net income
CELH FY2018: -$11.2MCELH FY2019: $10MCELH FY2020: $8.5MCELH FY2021: $3.9MCELH FY2022: -$187.3MCELH FY2023: $226.8MCELH FY2024: $145.1MCELH FY2025: $108MZVIA FY2021: -$6.1MZVIA FY2021: -$87.7MZVIA FY2022: -$47.6MZVIA FY2023: -$21.5MZVIA FY2024: -$20MZVIA FY2025: -$9.9MFY18FY19FY20FY21FY22FY23FY24FY25
CELH $108MZVIA -$9.9M
Net margin
CELH FY2018: -21.3%CELH FY2019: 13.3%CELH FY2020: 6.5%CELH FY2021: 1.3%CELH FY2022: -28.7%CELH FY2023: 17.2%CELH FY2024: 10.7%CELH FY2025: 4.3%ZVIA FY2021: -5.5%ZVIA FY2021: -63.4%ZVIA FY2022: -29.2%ZVIA FY2023: -12.9%ZVIA FY2024: -12.9%ZVIA FY2025: -6.2%FY18FY19FY20FY21FY22FY23FY24FY25
CELH 4.3%ZVIA -6.2%
Revenue growth
CELH FY2019: +42.9%CELH FY2020: +74.0%CELH FY2021: +140.4%CELH FY2022: +108.0%CELH FY2023: +101.7%CELH FY2024: +2.9%CELH FY2025: +85.5%ZVIA FY2021: +25.6%ZVIA FY2022: +18.1%ZVIA FY2023: +2.0%ZVIA FY2024: -6.8%ZVIA FY2025: +4.0%FY19FY20FY21FY22FY23FY24FY25
CELH +85.5%ZVIA +4.0%
Free cash flow
CELH FY2018: -$11.8MCELH FY2019: $956KCELH FY2020: $2.8MCELH FY2021: -$99.7MCELH FY2022: $99.9MCELH FY2023: $123.8MCELH FY2024: $239.5MCELH FY2025: $323.4MZVIA FY2021: -$4.1MZVIA FY2021: -$20.9MZVIA FY2022: -$23.4MZVIA FY2024: -$1.3MZVIA FY2025: -$5MFY18FY19FY20FY21FY22FY23FY24FY25
CELH $323.4MZVIA -$5M

Fiscal years as each company reports them; the two may end in different months.

Questions about Celsius and Zevia PBC

Which is bigger by revenue, Celsius or Zevia PBC?

Celsius is bigger by revenue: $2.5B in fiscal 2025, against $161.3M for Zevia PBC in fiscal 2025.

Which keeps more of its revenue as profit, Celsius or Zevia PBC?

Celsius had a net margin of 4.3% in fiscal 2025; Zevia PBC had -6.2% in fiscal 2025.

Which grew revenue faster, Celsius or Zevia PBC?

In their latest fiscal years revenue changed by +85.5% at Celsius and +4.0% at Zevia PBC.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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