Timing is everything in growth stocks, and Celsius might be hitting that sweet spot right now.

I've been watching this one closely since the Alani Nu acquisition, and the turnaround narrative is actually playing out. Stock's up over 100% in the past year, Bank of America just flipped from underperform to buy, and the latest earnings show why the market is paying attention.

Here's what's happening: Alani Nu drove pro forma revenue up 136% to $370M, while overall sales jumped 117% to $721.6M. The newly acquired Rockstar brand added another $45M. Retail sales climbed 24.4% with Alani specifically surging 76.9%. North America sales were up 124%. These aren't marginal gains—this is real momentum.

The profitability story is equally compelling. Adjusted EPS jumped 86% to $0.26, and adjusted EBITDA climbed 113% to $134.1M. Management's guiding for gross margins in the low-50% range once the integrations settle, which suggests more upside as they optimize.

Now here's where the best time to buy thesis gets interesting: The real catalyst ahead is distribution expansion. Alani's transitioning to PepsiCo's distribution network, and both Alani and Celsius brands are expecting significant shelf space gains this spring. When you're seeing distribution gains like this, that's typically when growth accelerates further.

Valuation-wise, it's trading around 34x forward 2026 earnings. That's not cheap, but it's reasonable for a company growing this aggressively. The key question is whether you believe the distribution story plays out over the next 12 months.

Here's my take: The best time to buy growth stocks is when distribution is expanding and margins are improving simultaneously. Celsius checks both boxes right now. But I'd be watching the spring shelf space gains closely—once those gains are largely complete and growth normalizes, multiples tend to compress. So if you're thinking about this one, don't overstay the position. The window for best time to buy is probably measured in months, not years.