Shares of Celsius Holdings, Inc. (CELH) plummeted 17.62% during intraday trading on Thursday, as investors reacted to the company's disappointing second-quarter financial results. The energy drink maker reported earnings that fell short of Wall Street expectations on both the top and bottom lines.

Celsius posted Q2 revenue of $817.9 million, up 10.6% from a year ago, but significantly below the analyst consensus estimate of $870.1 million. Adjusted earnings per share came in at $0.36, down from $0.47 a year earlier and missing the expected $0.43. Gross margin contracted to 48% from 51% in the prior-year quarter, pressured by higher promotional and incentive spending and an unfavorable channel mix, as well as ongoing aluminum cost inflation.

The earnings miss reignited concerns over slowing growth in the core Celsius brand, with revenue from that segment falling 11.7% year-over-year. The results compound a series of headwinds the company has faced in recent months, including multiple analyst price target cuts, a Texas Attorney General investigation into the marketing of high-caffeine drinks to youth, and sustained insider selling. While the integration of recently acquired Alani Nu and Rockstar Energy brands offers long-term potential, the near-term uncertainty weighed heavily on investor sentiment.