• Celsius Holdings average gross margin for 2023 was 45.82%, a 12.83% increase from 2022.
• Celsius Holdings average gross margin for 2022 was 40.61%, a 6.19% increase from 2021.
• Celsius Holdings average gross margin for 2021 was 43.29%, a 4.01% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.