John Fieldly: Yes. No. Thank you, Peter. We’re not going to give any forward guidance on the future share, but we do look at the current trajectories and where we are currently at within different category – within a variety of segments and the categories. And you mentioned Amazon. We disclosed Amazon. We’re close to a 20 share within the energy category on Amazon. And then – if you also look at – I mentioned in my script, we have 12 key markets that we’re tracking ahead of 15-share within the category in that MULOC data. So there is a good trajectory there. I think the biggest opportunity for us when you look at it is really in convenience. And we’ve built this brand going through the variety of channels. And the last opportunity is in convenience, where you about 56% 57% of all sales are sold.
So that’s where we anticipate the biggest resets to take place in the coming resets right now in the convenience channel. We are just at a 10 share. So we’re really excited about the opportunities you have there versus if you just look at the food category, we’re around a 16 share within the energy category. So those are some recent data points that we have that we’ve shared within the script as well as in the earnings release. And we’ve talked before, we’re somewhere between the average, as Jarrod mentioned, we’re about we closed at about a 10 share, and we’re on close to a 20 share within Amazon. So we’re working hard. The team is working hard and we’re executing, and that doesn’t include the new 16-ounce Essentials line, which is just getting started this year, which we’re excited about.
Peter Grom: No, that’s really helpful. And then I guess just one follow-up just on international. Can you maybe help us understand how we should think about the contribution from a revenue perspective. Are you exploring any additional markets for this year? Or would anything else kind of be more of a ‘25 narrative? And then just within that, I’m sure a lot of people and you’ve gotten this question a lot, but just, maybe explain why Suntory was the distributor of choice for the UK and Ireland?
John Fieldly: Yes. Thank you, Peter. I think number one, when we look at international expansion, we just went into Canada. We talked about that into – on the script. We’re really excited on the consumer acceptance. We’re also excited about the – we’re in 7-Eleven in Couche-Tard. It’s product is doing really well, and we’re expanding. So our partner is excited. Canada should be a big market. UK, did announce Suntory for our partner there. They – we’re looking for the best partners to align with on our go-to-market strategy. One thing that was very attractive about Suntory is their access to the gym community. And we’re really focused on a methodical approach as we expand and grow, really about building awareness, trial, that foundational base of loyalty and then scaling.
So as we look to see the size and the timing and sequencing of international, I think that’s – we’ll know that as we go through these markets and expand in these markets, and how quickly we are accepted, we can move as fast as we can. But we want to be very cognizant on entering new markets through a methodical approach about building that loyal foundation before we go and overall scale. So those are the comments there in regards, and we’re really excited about our partner with Suntory.
Peter Grom: Sounds good. Thanks so much. I will pass it on.
John Fieldly: Thank you.
Operator: Our next question comes from the line of Michael Lavery with Piper Sandler. Please proceed with your questions.
Michael Lavery: Thank you. Good morning.
John Fieldly: Good morning.
Michael Lavery: You touched on unmeasured channels as one of your big opportunities and gave some examples, corporate [indiscernible]. There is lots of physical distribution points under all that. And just would love to get a sense of how we should think about how quickly – how close the handles are, how quickly those could ramp up, kind of what the trajectory might look like for momentum in those areas?
John Fieldly: Yes. I think everyone is really excited about how when you look at our PepsiCo revenues, over 12% is coming from really the food service. Internally here, we think there’s a big opportunity there. We see that Celsius is much broader opportunity when you look at the TAM versus say, traditional energy, we’re seeing consumers, consumer consumption increase outside of that energy need state. We’re seeing the product being paired with sandwiches and smoothies and bowls and a variety of opportunities for fast casual. So I think it’s a little bit too early for us to really know how big that opportunity is. We have a – we’ll probably know we’re in the next 12 to 24 months as we further expand some additional quick service as well as expand in additional food service accounts and then universities and hospital as well is a huge opportunity for us. Not able to quantify that at this time, but we do see it as an opportunity.
Michael Lavery: Okay, thanks. And just on the Canada, UK and launches. As we think about margins for 2024, obviously, you’d spend ahead of really ramping those revenues. And so all else equal, should we expect a dip in EBITDA margins for – or EBITDA for 2024 versus 2023? Or can you just give us a sense of how to think about the spending or what’s in your plans for how that looks?
John Fieldly: Yes. I’ll turn that over to Jarrod for additional comments.
