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SUBSEQUENT EVENTS | 12 Months Ended
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Dec. 31, 2021
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | 17. SUBSEQUENT EVENTS None Celsius Holdings, Inc. UNAUDITED SUPPLEMENTARY INFORMATION December 31, 2021 and 2020 Selected Quarterly Financial Results Subsequent to filing the Company’s Quarterly Reports on Form 10-Q for the periods ended June 30, 2021, and September 30, 2021, the Company determined that certain amounts reported in the Company's previously issued unaudited consolidated statements of operations and comprehensive income (loss) and consolidated balance sheets contained misstatements (see Note 2 for further details). In accordance with Staff Accounting Bulletin No. 99, Materiality, management evaluated the materiality of the misstatements from a qualitative and quantitative perspective and concluded that the misstatements were material to the three- and six- months ended June 30, 2021 and the three- and nine- months ended September 30, 2021 interim consolidated financial statements. Accordingly, the Company has restated its interim consolidated financial statements for the three- and six- months ended June 30, 2021, and three- and nine- months ended September 30, 2021, respectively. The effects of the adjustments to the Company's previously reported unaudited 2021 quarterly consolidated statements of operations and comprehensive income (loss) on a standalone quarter basis are as follows:
| As Reported |  |  | Adjustments |  |  | As Restated |
| Second Quarter |  |  | Third Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Second Quarter |  |  | Third Quarter |
Revenue | $ | 65,073,323 |  |  | $ | 94,909,100 |  |  | $ | — |  |  | $ | — |  |  | $ | 65,073,323 |  |  | $ | 94,909,100 |
Gross Profit |  | 28,249,369 |  |  |  | 37,693,372 |  |  |  | — |  |  |  | — |  |  |  | 28,249,369 |  |  |  | 37,693,372 |
General and administrative expenses 1 |  | 9,119,532 |  |  |  | 11,140,030 |  |  |  | 3,180,353 |  |  |  | 12,116,438 |  |  |  | 12,299,885 |  |  |  | 23,256,468 |
Total operating expense |  | 24,650,520 |  |  |  | 33,761,092 |  |  |  | 3,180,353 |  |  |  | 12,116,438 |  |  |  | 27,830,873 |  |  |  | 45,877,530 |
Income (loss) from operations |  | 3,598,849 |  |  |  | 3,932,280 |  |  |  | (3,180,353 | ) |  |  | (12,116,438 | ) |  |  | 418,496 |  |  |  | (8,184,158 | )
Net income (loss) before income taxes |  | 3,960,344 |  |  |  | 3,579,610 |  |  |  | (3,180,353 | ) |  |  | (12,116,438 | ) |  |  | 779,991 |  |  |  | (8,536,828 | )
Net income (loss) | $ | 3,960,344 |  |  | $ | 2,745,791 |  |  | $ | (3,180,353 | ) |  | $ | (12,116,438 | ) |  | $ | 779,991 |  |  | $ | (9,370,647 | )
Net income (loss) per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.05 |  |  | $ | 0.04 |  |  | $ | (0.04 | ) |  | $ | (0.17 | ) |  | $ | 0.01 |  |  | $ | (0.13 | )
Diluted | $ | 0.05 |  |  | $ | 0.03 |  |  | $ | (0.04 | ) |  | $ | (0.15 | ) |  | $ | 0.01 |  |  | $ | (0.12 | )
1 In order to correct previously reported share-based compensation for three-months ended June 30, 2021 and September 30, 2021, the Company is recognizing additional share-based compensation expense of $3,180,353 and $12,116,438, respectively. The effects of the adjustments to the Company's previously reported unaudited 2021 quarterly consolidated statements of operations and comprehensive income (loss) on a year-to-date basis are as follows:
| As Reported |  |  | Adjustments |  |  | As Restated |
| Second Quarter |  |  | Third Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Second Quarter |  |  | Third Quarter |
Revenue | $ | 115,108,202 |  |  | $ | 210,217,302 |  |  | $ | — |  |  | $ | — |  |  | $ | 115,108,202 |  |  | $ | 210,217,302 |
Gross Profit |  | 48,828,464 |  |  |  | 123,495,466 |  |  |  | — |  |  |  | — |  |  |  | 48,828,464 |  |  |  | 123,495,466 |
General and administrative expenses 1 | $ | 16,926,198 |  |  | $ | 28,066,228 |  |  | $ | 3,180,353 |  |  | $ | 15,296,791 |  |  | $ | 20,106,551 |  |  | $ | 43,363,019 |
Total operating expense |  | 44,416,239 |  |  |  | 78,177,331 |  |  |  | 3,180,353 |  |  |  | 15,296,791 |  |  |  | 47,596,592 |  |  |  | 93,474,122 |
Income (loss) from operations |  | 4,412,225 |  |  |  | 8,344,505 |  |  |  | (3,180,353 | ) |  |  | (15,296,791 | ) |  |  | 1,231,872 |  |  |  | (6,952,286 | )
Net income (loss) before income taxes |  | 4,545,768 |  |  |  | 8,215,378 |  |  |  | (3,180,353 | ) |  |  | (15,296,791 | ) |  |  | 1,365,415 |  |  |  | (7,171,413 | )
Net income (loss) | $ | 4,545,768 |  |  | $ | 7,251,559 |  |  | $ | (3,180,353 | ) |  | $ | (15,296,791 | ) |  | $ | 1,365,415 |  |  | $ | (8,005,232 | )
Net income (loss) per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.06 |  |  | $ | 0.10 |  |  | $ | (0.04 | ) |  | $ | (0.21 | ) |  | $ | 0.02 |  |  | $ | (0.11 | )
Diluted | $ | 0.06 |  |  | $ | 0.09 |  |  | $ | (0.04 | ) |  | $ | (0.19 | ) |  | $ | 0.02 |  |  | $ | (0.10 | )
1 In order to correct previously reported share-based compensation for six- and nine- months ended June 30, 2021 and September 30, 2021, the Company is recognizing additional share-based compensation expense of $3,180,353 and $15,296,791, respectively. The effects of the adjustments to the Company's previously reported unaudited 2021 quarterly consolidated balance sheets are as follows:
| As Reported |  |  | Adjustments |  |  | As Restated |
| Second Quarter |  |  | Third Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Second Quarter |  |  | Third Quarter |
Current assets | $ | 205,305,787 |  |  | $ | 252,561,960 |  |  | $ | — |  |  | $ | — |  |  | $ | 205,305,787 |  |  | $ | 252,561,960 |
Total assets |  | 241,548,125 |  |  |  | 294,978,175 |  |  |  | — |  |  |  | — |  |  |  | 241,548,125 |  |  |  | 294,978,175 |
Current liabilities | $ | 54,256,877 |  |  | $ | 93,421,330 |  |  | $ | — |  |  | $ | — |  |  | $ | 54,256,877 |  |  | $ | 93,421,330 |
Total liabilities |  | 54,708,765 |  |  |  | 97,579,964 |  |  |  | — |  |  |  | — |  |  |  | 54,708,765 |  |  |  | 97,579,964 |
Additional paid-in capital | $ | 237,763,609 |  |  | $ | 244,293,710 |  |  | $ | 3,180,353 |  |  | $ | 15,296,791 |  |  | $ | 240,943,962 |  |  | $ | 259,590,501 |
Accumulated deficit |  | (50,881,064 | ) |  |  | (48,135,273 | ) |  |  | (3,180,353 | ) |  |  | (15,296,791 | ) |  |  | (54,061,417 | ) |  |  | (63,432,064 | )
Total Stockholder's Equity | $ | 186,839,360 |  |  | $ | 197,398,211 |  |  | $ | — |  |  | $ | — |  |  | $ | 186,839,360 |  |  | $ | 197,398,211 |
These corrections had no effect on the Company's previously reported net cash flows from operating activities, investing activities or financing activities for the six months ended June 30, 2021, and the nine months ended September 30, 2021, respectively.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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