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Cellebrite Announces First-Quarter 2026 ResultsMay 14, 2026 7:00 AM
PR Newswire (US) First-Quarter ARR Growth of 21% and TTM Free Cash Flow Margin of 32% Q2 Outlook Highlights ARR AccelerationTYSONS CORNER, Va. and PETAH TIKVA, Israel, May 14, 2026 /PRNewswire/ -- Cellebrite DI Ltd. (NASDAQ: CLBT), a global leader in AI-powered Digital Investigative and Intelligence solutions for the public and private sectors, today announced financial results for the three months ending March 31, 2026. "Cellebrite's first quarter of 2026 was highlighted by the delivery of a substantial slate of innovative offerings and new capabilities to the marketplace," stated Thomas E. Hogan, Cellebrite's CEO. "We are extremely pleased with the enthusiastic response from customers around the world to our new Guardian Investigate, Genesis, advanced unlock and drone forensics solutions. We delivered solid first-quarter 2026 results and are excited about our prospects to accelerate ARR expansion in the second quarter."First-Quarter 2026 Financial HighlightsRevenue of $128.3 million, up 19% year-over-yearSubscription revenue was $117.9 million, up 23% year-over-yearTotal Annual Recurring Revenue (ARR) of $493.0 million, up 21% year-over-yearRecurring revenue dollar-based net retention rate of 115%GAAP gross profit and gross margin of $105.9 million and 82.5%, respectively; Non-GAAP gross profit and gross profit margin of $110.2 million and 85.9%, respectivelyGAAP net income of $10.9 million; Non-GAAP net income of $30.6 millionGAAP diluted earnings per share of $0.04; Non-GAAP diluted earnings per share of $0.12Adjusted EBITDA and adjusted EBITDA margin of $30.6 million and 23.9%, respectivelyFree cash flow for the trailing twelve months of $158.6 million, or 32.0% on a margin basisRecent Business HighlightsStrategyOn March 1, 2026, Cellebrite closed its acquisition of SCG Canada Inc., a leading provider of hand-held digital forensics solutions that enable access to more than 80 of the most common Unmanned Aerial Vehicles (UAVs) for extraction, decoding and visualization of important forensic artifacts. This acquisition represented an important strategic step that broadened Cellebrite's digital forensics capabilities to include drones, an emerging device category that is seeing strong global growth across the defense, intelligence, law enforcement and commercial sectors as well as by bad actors. SCG's solution enables rapid access and visualization of mission-critical data at the point of collection, for quick decisions that can save lives. SCG's powerful drone forensic data extraction capability, combined with the portability of its offering, creates an additional new, rich data source to help power Cellebrite AI for enhanced decision making, especially in the field where speed is essential.InnovationCellebrite introduced early access to Cellebrite Genesis, a new purpose-built agentic AI product revolutionizing the way investigations are conducted. Cellebrite Genesis provides an intuitive, conversation-like experience to analyze mobile phone extractions, call detail records, documents, messages, images, video and more, turning them into immediate, actionable insights. Genesis can be deployed on its own or alongside other Cellebrite solutions to dramatically accelerate investigations across a wide variety of complex data sources, crime types and scenarios. Cellebrite Genesis offers customers instant delivery of transformational agentic AI with the precision, investigative rigor and public safety-grade guardrails investigators need to strengthen narcotics, human trafficking and crimes against children investigations among several other crime types as well as reinvigorate cold cases. Cellebrite Genesis is currently in beta testing.Cellebrite announced the worldwide general availability of Guardian Investigate, a collaborative AI-powered investigative management solution that delivers a suite of capabilities for daily workflow collaboration across investigators, departments and agencies. Guardian Investigate centralizes digital evidence — including UFDR extractions, call detail records, documents and multimedia — into one secure workspace, enabling investigators to review evidence, manage tasks, build case narratives, and collaborate across departments and agencies in real time while maintaining chain of custody.Cellebrite announced its Spring 2026 Release, highlighted by expanded device access capabilities across the widest range of iOS and Android devices and operating systems, including support for iPhone 17 and iOS 26. In addition, the Company highlighted emerging new use cases for Corellium by Cellebrite with automotive and industrialized systems manufacturers. By virtualizing Arm-based systems at the hardware level, Corellium enables automotive software teams to recreate and test complete vehicle environments in the cloud, from low-level controllers and safety-critical systems to autonomous driving compute to in-cabin and infotainment applications, at the speed of real silicon, without maintaining physical infrastructure.Cellebrite announced last week that its Cellebrite Government Cloud (CGC) platform achieved FedRAMP® High Authorization, with the U.S. Department of Justice (DOJ) serving as the authorizing agency. This milestone authorization confirms that Cellebrite Government Cloud has met the federal government's most stringent cloud security requirements and is now available for government-wide adoption.Go-To-MarketFrom April 13 through April 17, 2026, Cellebrite hosted the 2026 C2C User Summit, its second annual user conference. This year's conference attracted hundreds of attendees from 30 countries, including customers from nearly 500 organizations spanning law enforcement, defense, intelligence and the private sector. The event was highlighted by powerful keynote speakers, deep-dive sessions, live demos, workshops and training courses as well as the Company's Digital Justice Awards. The awards, referred to as JUSTYS, was streamed live by the Law & Crime Network's YouTube channel and spanned 12 different categories, recognizing some of the best and brightest minds?and sharpest technical skillsets in digital investigations in both the public and private sectors.Supplemental financial information can be found on the Investor Relations section of our website at https://investors.cellebrite.com/financial-information/quarterly-results. Financial OutlookDavid Barter, Cellebrite's CFO, said, "Cellebrite's ARR growth in the first quarter demonstrated sequential stability as we executed well in anticipation of bringing to market so many new products and technologies. We're shifting gears to drive the second quarter with a myriad of exciting opportunities to accelerate our ARR, deliver strong operating results and generate healthy free cash flow." The Company's second-quarter and full-year 2026 financial expectations are as follows:
Second-Quarter 2026 Expectations
Full-Year 2026 Expectations
(as of 05/14/26)
(as of 05/14/26)ARR
$510 million - $513 million
$567 million - $573 millionAnnual Growth
22% - 23%
18% - 19%Revenue
$130 million - $133 million
$565 million - $571 millionAnnual Growth
15% - 17%
19% - 20%Adjusted EBITDA
$29 million - $31 million
$149 million - $155 millionAdjusted EBITDA margin
22% - 23%
26% - 27%Conference Call Information
Cellebrite will host a live conference call and webcast later today to review the Company's first-quarter 2026 financial results and discuss its full-year 2026 outlook. Pertinent details include:Date:
Thursday, May 14, 2026Time:
8:30 a.m. ETCall-In Number:
203-518-9814 / 800-274-8461Conference ID:
CLBTQ126Event URL:
https://investors.cellebrite.com/events/event-details/cellebrite-q1-2026-financial-results-conference-call-webcast Webcast URL:
https://edge.media-server.com/mmc/p/7b5rowvxIn conjunction with the conference call and webcast, historical financial tables and supplemental data will be available on the quarterly results section of the Company's investor relations website at https://investors.cellebrite.com/financial-information/quarterly-results.Non-GAAP Financial Information and Key Performance Indicators
This press release includes non-GAAP financial measures. Cellebrite believes that the use of non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP EPS and adjusted EBITDA is helpful to investors. These measures, which the Company refers to as its non-GAAP financial measures, are not prepared in accordance with GAAP.The Company believes that the non-GAAP financial measures provide a more meaningful comparison of its operational performance from period to period, and offer investors and management greater visibility into the underlying performance of its business:Share-based compensation expenses utilize varying available valuation methodologies, subjective assumptions and a variety of equity instruments that can impact a company's non-cash expenses;Acquired intangible assets are valued at the time of acquisition and are amortized over an estimated useful life after the acquisition;Acquisition-related expenses and executive severance expenses relate to the cash component of contractual severance due to our former CFO, all of which are unrelated to current operations and neither are comparable to the prior period nor predictive of future results;To the extent that the above adjustments have an effect on tax (income) expense, such an effect is excluded in the non-GAAP adjustment to net income;Tax expense, depreciation and amortization expense vary for many reasons that are often unrelated to our underlying performance and make period-to-period comparisons more challenging; andFinancial instruments are remeasured according to GAAP and vary for many reasons that are often unrelated to the Company's current operations and affect financial income.Free cash flow is calculated as net cash provided by or used in operating activities less purchases of property and equipment. We believe that free cash flow is a useful indicator of liquidity that provides information to management and investors about the amount of cash provided by or used in our operations that, after the investments in property and equipment, can be used for strategic initiatives.Each of our non-GAAP financial measures is an important tool for financial and operational decision making and for evaluating our own operating results over different periods of time. The non-GAAP financial measures do not represent our financial performance under U.S. GAAP and should not be considered as alternatives to operating income or net income or any other performance measures derived in accordance with GAAP. Non-GAAP measures should not be considered in isolated from, or as an alternative to, financial measures determined in accordance with GAAP. Non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in our industry, as other companies in our industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, and exclude expenses that may have a material impact on our reported financial results. Further, share-based compensation expense has been, and will continue to be for the foreseeable future, significant recurring expenses in our business and an important part of the compensation provided to our employees. In addition, the amortization of intangible assets is expected to be a recurring expense over the estimated useful life of the underlying intangible asset and acquisition-related expenses will be incurred to the extent acquisitions are made in the future. Furthermore, foreign exchange rates may fluctuate from one period to another, and the Company does not estimate movements in foreign currencies.A reconciliation of each of these non-GAAP financial measures to their most comparable GAAP measure is set forth in a table included at the end of this press release, which is also available on our website at https://investors.cellebrite.com. In regard to forward-looking non-GAAP guidance, we are not able to reconcile the forward-looking adjusted EBITDA measure to the closest corresponding GAAP measure without unreasonable efforts because we are unable to predict the ultimate outcome of certain significant items including, but not limited to, fair value movements, share-based payments for future awards, tax expense, depreciation and amortization expense, and certain financing and tax items.This press release also includes key performance indicators, including annual recurring revenue and dollar-based retention rate.Annual recurring revenue ("ARR") is defined as the annualized value of active term-based subscription license contracts and maintenance contracts related to perpetual licenses in effect at the end of that period. Subscription license contracts and maintenance contracts for perpetual licenses are annualized by multiplying the revenue of the last month of the period by 12. The annualized value of contracts is a legal and contractual determination made by assessing the contractual terms with our customers. The annualized value of maintenance contracts is not determined by reference to historical revenue, deferred revenue or any other GAAP financial measure over any period. ARR is not a forecast of future revenue, which can be impacted by contract start and end dates and renewal rates.Dollar-based net retention rate ("NRR") is calculated by dividing customer recurring revenue by base revenue. We define base revenue as recurring revenue we recognized from all customers with a valid license at the last quarter of the previous year period, during the four quarters ended one year prior to the date of measurement. We define our customer revenue as the recurring revenue we recognized during the four quarters ended on the date of measurement from the same customer base included in our measure of base revenue, including recurring revenue resulting from additional sales to those customers.References to Websites and Social Media Platforms
References to information included on, or accessible through, websites and social media platforms do not constitute incorporation by reference of the information contained at or available through such websites or social media platforms, and you should not consider such information to be part of this press release.Caution Regarding Forward Looking Statements
This document includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," "anticipate," "will," "appear," "approximate," "foresee," "might," "possible," "potential," "believe," "could," "predict," "should," "could," "continue," "expect," "estimate," "may," "plan," "outlook," "future" and "project" and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include, but are not limited to, estimated financial information for the second quarter of 2026 and for fiscal year 2026 including those statements with respect to our prospects to accelerate ARR expansion in the second quarter; the myriad of exciting opportunities to accelerate our ARR, deliver strong operating results and generate healthy free cash flow; and those statements regarding quarterly and full-year 2026 revenue and annual recurring revenue, profitability, earnings and free cash flow; as well as commentary associated with future performance, strategies, prospects, and other aspects of Cellebrite's business are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to: Cellebrite's ability to keep pace with technological advances and challenges and evolving industry standards with respect to software, artificial intelligence, or device access, to adapt to changing market potential within our markets and to successfully launch new solutions and add-ons that meet or exceed customer needs; our material dependence on the acceptance of our solutions by domestic and international law enforcement, public safety, defense and intelligence agencies; real or perceived errors, failures, defects or bugs in our solutions; licensing of technology from third parties, including our dependence on maintaining those licenses or seeking alternative solutions; failure to maintain the productivity of sales and marketing personnel, including relating to hiring, integrating and retaining personnel; intense competition in all of our markets, including risks associated with pricing pressures from and loss of market share to competitors with greater resources than we have and increasing competition as a result of consolidation in the industry; the misuse of our solutions by our customers which may achieve suboptimal results or be perceived as incompatible with human rights; our ability to properly manage our growth as a business, and execute new offerings, developments and strategic opportunities, including joint ventures, partnerships and acquisitions; our dependence on our customers to renew their subscriptions and purchase additional subscriptions or services from us; the use of artificial intelligence in our digital investigation platform; challenges associated with large transactions, including with respect to longer sales cycles, as well as with developing, offering, implementing, and maintaining new solutions; risk of security vulnerabilities or defects, including cyber-attacks, information technology system breaches, failures or disruptions which are critical to our operations and maintaining the trust and confidence of our customers; risks associated with political, geo-political and reputational factors related to our business or operations, including Cellebrite operations in Israel and/or negative publicity, including with respect to the nature of our solutions; risks associated with our ability to obtain CFIUS approval for the acquisition of Corellium and with our ongoing compliance with national security agreements entered into with the U.S. government; risks that our intellectual property rights may not be adequate to protect our business or assets or that others may make claims on our intellectual property, claim infringement on their intellectual property rights, or claim a violation of their license rights, including relative to free or open-source-software components we may use risks relating to the regulatory constraints to which we are subject, including Israeli export laws, our compliance with such laws and related export licenses issued from the government of Israel; risks associated with different corporate governance requirements applicable to Israeli companies and risks associated with being a foreign private issuer; risks associated with our significant international operations, including due to our Israeli operations, fluctuations in foreign exchange rates, rising global inflation, and exposure to regions subject to political or economic instability, including the State of Israel; uncertainties regarding the impact of changes in macroeconomic and/or global conditions, including as a result of slowdowns, recessions, economic instability, political unrest, or outbreaks of disease, as well as the resulting impact on information technology spending and government budgets, on our business and other factors, risks and uncertainties set forth in the section titled "Risk Factors" in Cellebrite's annual report on Form 20-F filed with the SEC on March 3, 2026, and in other documents filed by Cellebrite with the U.S. Securities and Exchange Commission ("SEC"), which are available free of charge at www.sec.gov. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, in this communication or elsewhere. Cellebrite undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.About Cellebrite
Cellebrite's (Nasdaq: CLBT) mission is to protect communities, nations and businesses as a global leader in digital investigative and intelligence solutions. More than 7,000 global law enforcement agencies, defense and intelligence organizations and enterprises trust Cellebrite's AI-powered software portfolio to make forensically sound digital data more accessible and actionable. Cellebrite technology allows customers to accelerate nearly 3 million legally sanctioned investigations annually, enhance sovereign security, elevate operational efficacy and efficiency and enable advanced mobile research and application security. Available via cloud, on-premises and hybrid deployments, Cellebrite's technology enables its customers around the globe to advance their missions, elevate public safety and safeguard data privacy. To learn more, visit us at www.cellebrite.com and https://investors.cellebrite.com and find us on social media @Cellebrite.Contacts:Investors Relations
Andrew Kramer
Vice President, Investor Relations & Treasury
investors@cellebrite.com
+1 973.206.7760Media
Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910 Cellebrite DI Ltd.
First-Quarter 2026 Results Summary
(U.S Dollars in thousands)
For the three months ended
March 31,
2026
2025
Revenue128,301
107,549Gross profit105,881
90,059 Gross margin82.5 %
83.7 %Operating income9,119
12,268 Operating margin 7.1 %
11.4 %Net income10,938
17,400Cash flow from operating activities 19,885
20,878
Non-GAAP Financial Data:
Operating income 28,586
21,971 Operating margin22.3 %
20.4 %Net income30,620
26,179Adjusted EBITDA30,617
23,676Adjusted EBITDA margin23.9 %
22.0 % Cellebrite DI Ltd.
Condensed Consolidated Balance Sheets
(U.S. Dollars in thousands)
March 31,
December 31,
2026
2025Assets
Current assets
Cash and cash equivalents
$ 133,689
$ 124,457Short-term deposits
140,777
161,049Marketable securities
154,602
151,544Trade receivables (net of allowance for credit losses of $423 and $506 as of March 31, 2026 and
December 31, 2025, respectively)
72,739
104,972Prepaid expenses and other current assets
25,799
19,630Contract acquisition costs
5,732
6,595Inventories
7,528
7,603Total current assets
540,866
575,850
Non-current assets
Other non-current assets
7,091
14,618Marketable securities
105,491
97,959Deferred tax assets, net
11,760
10,880Property and equipment, net
23,150
22,209Operating lease right-of-use assets, net
16,403
16,308Intangible assets, net
127,966
81,469Goodwill
119,559
119,559Total non-current assets
411,420
363,002Total assets
$ 952,286
$ 938,852
Liabilities and shareholders' equity
Current Liabilities
Trade payables
$ 10,868
$ 16,834Other accounts payable and accrued expenses
79,652
71,244Deferred revenues
255,095
277,583Operating lease liabilities
4,596
3,996Total current liabilities
350,211
369,657
Long-term liabilities
Other long-term liabilities
23,179
16,677Deferred revenues
50,147
49,526Operating lease liabilities
18,209
18,674Total long-term liabilities
91,535
84,877Total liabilities
441,746
454,534
Shareholders' equity
Share capital
*)
*)Additional paid-in capital
585,233
568,721Treasury share, NIS 0.00001 par value; 41,776 ordinary shares
(85)
(85)Accumulated other comprehensive income
992
2,220Accumulated deficit
(75,600)
(86,538)Total shareholders' equity
510,540
484,318Total liabilities and shareholders' equity
$ 952,286
$ 938,852
*) Less than 1 USD Cellebrite DI Ltd.
Condensed Consolidated Statements of Income
(U.S Dollars in thousands, except share and per share data)
For the three months ended
March 31,
2026
2025
Revenue:
Subscription services$ 96,549
$ 76,688Term-license21,304
19,141Other non-recurring3,668
4,411Professional services 6,780
7,309Total revenue128,301
107,549
Cost of revenue:
Subscription services14,238
7,332Term-license—
—Other non-recurring3,497
3,301Professional services4,685
6,857Total cost of revenue 22,420
17,490
Gross profit$ 105,881
$ 90,059
Operating expenses:
Research and development, net35,872
27,277Sales and marketing43,222
38,768General and administrative17,668
11,746Total operating expenses$ 96,762
$ 77,791
Operating income $ 9,119
$ 12,268Financial income, net4,515
7,060Income before tax 13,634
19,328Tax expense2,696
1,928Net income$ 10,938
$ 17,400
Earnings per share
Basic$ 0.04
$ 0.07Diluted$ 0.04
$ 0.07
Weighted average shares outstanding
Basic246,470,084
237,246,654Diluted252,077,487
249,302,220
Other comprehensive (loss) income:
Unrealized loss on hedging transactions(951)
(779)Unrealized (loss) income on marketable securities (819)
64Currency translation adjustments542
(481)Total other comprehensive loss, net of tax(1,228)
(1,196)Total other comprehensive income $ 9,710
$ 16,204
Cellebrite DI Ltd.
Condensed Consolidated Statements of Cash Flow
(U.S Dollars in thousands, except share and per share data)
For the three months ended
March 31,
2026
2025
Cash flow from operating activities:
Net income
$ 10,938
$ 17,400Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation and RSU's
14,384
8,777Amortization of premium, discount and accrued interest on marketable securities
(1,148)
(523)Depreciation and amortization
7,005
2,631Interest income from short-term deposits
(1,793)
(2,380)Deferred tax assets, net
(750)
(386)Decrease in trade receivables
32,441
1,721(Decrease) increase in deferred revenue
(20,861)
992Decrease in other non-current assets
552
785(Increase) decrease in prepaid expenses and other current assets
(4,964)
5,480Changes in operating lease right-of-use assets
1,055
1,156Changes in operating lease liability
(1,015)
(1,179)Decrease (increase) in inventories
144
(10)Decrease in trade payables
(5,987)
(1,046)Decrease in other accounts payable and accrued expenses
(10,393)
(12,152)Increase (decrease) in other long-term liabilities
277
(388)Net cash provided by operating activities
19,885
20,878
Cash flows from investing activities:
Purchases of property and equipment
(3,041)
(2,339)Cash paid in conjunction with acquisitions, net of acquired cash
(15,278)
—Purchase of Intangible assets
(7,059)
—Investment in marketable securities
(74,575)
(129,956)Proceeds from maturities of marketable securities
24,607
27,419Proceeds from sales of marketable securities
39,706
—Investment in short-term deposits
(36,000)
(84,000)Redemption of short-term deposits
58,065
62,372Net cash used in investing activities
(13,575)
(126,504)
Cash flows from financing activities:
Exercise of options to shares
2,128
2,493Proceeds from Employee Share Purchase Plan
1,383
1,127Net cash provided by financing activities
3,511
3,620
Net increase (decrease) in cash and cash equivalents
9,821
(102,006)Net effect of Currency Translation on cash and cash equivalents
(589)
822Cash and cash equivalents at beginning of period
124,457
191,659Cash and cash equivalents at end of period
$ 133,689
$ 90,475
Supplemental cash flow information:
Income taxes paid
$ 3,538
$ 806Non-cash activities
Operating lease liabilities arising from obtaining right-of-use assets
$ 1,150
$ 813 Cellebrite DI Ltd.
Reconciliation of GAAP to Non-GAAP Financial Information
(U.S Dollars in thousands, except share and per share data)
For the three months ended
March 31,
2026
2025
(Unaudited)
(Unaudited)Cost of revenue$ 22,420
$ 17,490Less:
Share-based compensation692
750Amortization of intangible assets3,612
—Non-GAAP cost of revenue$ 18,116
$ 16,740
For the three months ended
March 31,
2026
2025
(Unaudited)
(Unaudited)Gross profit$ 105,881
$ 90,059Share-based compensation692
750Amortization of intangible assets3,612
—Non-GAAP gross profit$ 110,185
$ 90,809
For the three months ended
March 31,
2026
2025
(Unaudited)
(Unaudited)Operating expenses$ 96,762
$ 77,791Less:
Share-based compensation13,692
8,027Amortization of intangible assets1,362
926Acquisition-related costs109
—Non-GAAP operating expenses$ 81,599
$ 68,838
For the three months ended
March 31,
2026
2025
(Unaudited)
(Unaudited)Operating income $ 9,119
$ 12,268Share-based compensation 14,384
8,777Amortization of intangible assets4,974
926Acquisition-related costs109
—Non-GAAP operating income $ 28,586
$ 21,971
For the three months ended
March 31,
2026
2025
(Unaudited)
(Unaudited)Net income$ 10,938
$ 17,400Share-based compensation 14,384
8,777Amortization of intangible assets4,974
926Acquisition-related costs109
—Tax expense (income)215
(924)Non-GAAP net income $ 30,620
$ 26,179
Non-GAAP Earnings per share:
Basic$ 0.12
$ 0.11Diluted$ 0.12
$ 0.10
Weighted average shares outstanding:
Basic246,470,084
237,246,654Diluted259,252,345
252,456,562
For the three months ended
March 31,
2026
2025
(Unaudited)
(Unaudited)Net income$ 10,938
$ 17,400Financial income, net(4,515)
(7,060)Tax expense 2,696
1,928Share-based compensation14,384
8,777Amortization of intangible assets4,974
926Acquisition-related costs109
—Depreciation expenses2,031
1,705Adjusted EBITDA$ 30,617
$ 23,676
For the three months ended
March 31,
2026
2025
(Unaudited)
(Unaudited)Net cash provided by operating activities$ 19,885
$ 20,878Less:
Purchases of property and equipment(3,041)
(2,339)Free cash flow$ 16,844
$ 18,539Free cash flow margin13.1 %
17.2 % Cellebrite DI Ltd.
Reconciliation of GAAP to Non-GAAP Financial Information
(U.S Dollars in thousands, except share and per share data)
For the trailing
12 months
ended
For the three months ended
March 31,
March 31,
December 31,
September 30,
June 30,
2026
2026
2025
2025
2025
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)Net cash provided by operating activities$ 172,551
$ 19,885
$ 86,811
$ 33,272
$ 32,583Less:
Purchases of property and equipment(13,927)
(3,041)
(3,956)
(3,322)
(3,608)Free cash flow$ 158,624
$ 16,844
$ 82,855
$ 29,950
$ 28,975Free cash flow margin32.0 %
13.1 %
64.3 %
23.8 %
25.6 % View original content to download multimedia:https://www.prnewswire.com/news-releases/cellebrite-announces-first-quarter-2026-results-302772161.htmlSOURCE Cellebrite Original: Cellebrite Announces First-Quarter 2026 Results
US Market News
5月前
Cellebrite Announces Record Fourth-Quarter and Full-Year 2025 ResultsFebruary 11, 2026 7:00 AM
PR Newswire (US)
Total ARR grew 21% to $480.8 million; Revenue grew 18% to $128.8 millionNet income of $21.3 million supports non-GAAP net income of $36.7 million and adjusted EBITDA of $38.3 million, 29.8% adjusted EBITDA margin TYSONS CORNER, Va. and PETAH TIKVA, Israel, Feb. 11, 2026 /PRNewswire/ -- Cellebrite (NASDAQ: CLBT), a global leader in AI-powered Digital Investigative and Intelligence solutions for the public and private sectors, today announced financial results for the three and twelve months ending December 31, 2025.
"Cellebrite closed 2025 with a solid fourth quarter that capped a year of meaningful strategic progress," stated Thomas E. Hogan, Cellebrite's CEO. "We cemented our Inseyets offering as the gold standard in digital forensics, drove strong adoption of our SaaS and cloud-based offerings, completed our first major acquisition and added important talent across the Company. Despite a challenging U.S. Federal spending environment, we drove 21% ARR growth in 2025, which reflects expansion across all of our major geographies and our flagship offerings, as well as the modest contribution from Corellium. Our success in growing the top line while expanding profit margins and generating outstanding free cash flow is a direct byproduct of the value of our platform, the strength of customer relationships and our ongoing commitment to thoughtful commitment to thoughtful spending and optimized resource allocation."Hogan added, "Our 2026 outlook reflects our conviction in accelerated ARR growth. The positive macro tailwinds for our business persist. We remain well positioned to expand our relationships across global law enforcement, defense and intelligence, and the private sector. We enter 2026 with a wide range of new and ongoing opportunities for growth including the continuation of Inseyets conversions, our new advanced unlock capabilities, broad adoption of our Guardian Forensics combined with the upcoming launch of Guardian Investigate, an expanding suite of AI-powered analytics, the global distribution of Corellium solutions across both the private and public sectors, the anticipated rebound within the U.S. Federal segment, our new, expected leadership position in Drone Forensics and our increased investment in the Defense and Intelligence sector. As always, we remain committed to responsible profitability and our corresponding strength in free cash flow. I am proud of this team and product of significant role we continue to play in keeping our nations, communities and businesses safe."Fourth-Quarter 2025 Financial HighlightsRevenue of $128.8 million, up 18% year-over-yearSubscription revenue was $115.5 million, up 21% year-over-yearTotal Annual Recurring Revenue (ARR) of $480.8 million, up 21% year-over-yearTotal ARR includes $16.1 million in ARR from Corellium, which was acquired by Cellebrite on December 1, 2025. Excluding Corellium's ARR, Cellebrite's ARR grew organically by 17% to $464.7 million.Recurring revenue dollar-based net retention rate of 116%GAAP gross profit and gross margin of $109.1 million and 84.7%, respectively; Non-GAAP gross profit and gross profit margin of $110.8 million and 86.0%, respectivelyGAAP net income of $21.3 million; Non-GAAP net income of $36.7 millionGAAP diluted earnings per share of $0.08; Non-GAAP diluted earnings per share of $0.14Adjusted EBITDA and Adjusted EBITDA margin of $38.3 million and 29.8%, respectivelyFull-Year 2025 Financial HighlightsRevenue of $475.7 million, up 19% year-over-yearSubscription revenue was $427.0 million, a 21% year-over-year increaseGAAP gross profit and gross margin of $400.5 million and 84.2%, respectively; Non-GAAP gross profit and gross profit margin of $404.6 million and 85.1%, respectivelyGAAP net income of $78.3 million; Non-GAAP net income of $130.5 millionGAAP diluted earnings per share of $0.31; Non-GAAP diluted earnings per share of $0.51Adjusted EBITDA and adjusted EBITDA margin of $127.6 million and 26.8%, respectivelyRecent Business HighlightsCellebrite to Acquire SCG Canada, Adding Leading Portable Drone Forensics CapabilityCellebrite also announced today its agreement to acquire SCG Canada Inc., a leading provider of hand-held digital forensics solutions that enables access to dozens of the most common Unmanned Aerial Vehicles (UAVs) for extraction, decoding and visualization of important forensic artifacts.This acquisition is expected to further broaden Cellebrite's digital forensics capabilities for collecting and reviewing data from a fast-growing category of digital witnesses. Usage of drones around the globe is surging with global spending on drones expected to grow 20% to $53.5 billion in 2026. While drones have a myriad of constructive use cases, they also bring potential for harm and the pursuit of crime. In the US alone, in 2025 there were an estimated 1.2M drone violations making forensics and mitigations a critical element of balancing the global proliferation of drones."We believe drone data and artifacts could emerge over the coming years as the second most valuable data source behind mobile/cell phones in the pursuit of justice and safety," said Thomas Hogan. "This applies to multiple customer cohorts including national defense, local law enforcement and private sector businesses focused on securing the air space around critical infrastructure, and dense locations such as airports and sports venues. This represents a modest but important move to further enhance Cellebrite's overall value proposition and further elevate the impact of our AI-powered platform for multi-data source analysis – a critical component of modern-day investigations and intelligence gathering."Once this transaction is completed, Cellebrite customers focused on Defense and Intelligence will benefit from the addition of a highly portable, battery-powered solution for rapid access and visualization of mission-critical data at the point of collection – capabilities that aid smarter, faster decisions that can ultimately save lives. Additionally, law enforcement agencies around the world will gain a valuable forensic capability as they see increasing use of commercially available drones for a wide range of nefarious purposes such as smuggling contraband across borders and into jails, as well as disrupting air travel, large gatherings and public infrastructure.The deal is expected to close later this quarter, subject to customary closing conditions. Terms of the transaction were not disclosed.InnovationDigital Forensics: Cellebrite ended 2025 with approximately 55% of its installed digital forensics license base converted to Inseyets, which exceeded the Company's original target of 50% and further validates Inseyets' market and technology leadership. Cellebrite has also continued to broaden its mobile phone access capabilities across Android, Apple iOS and feature phones with anticipated innovations scheduled for general availability over the next several months.AI: Cellebrite has continued to increase its investment in AI. The Company further broadened its AI research and engineering teams to advance the Company's machine learning models, generative AI features and agentic AI capabilities. Cellebrite also continued to build out its AI layer that leverages an expanding AI agent framework that is embedded within its Cellebrite SaaS platform. In addition, Cellebrite recently established an AI Innovation Center to augment the ongoing expansion of its portfolio. Some of Cellebrite's newest AI-enabled features will be embedded in its Guardian Investigate solution, which is designed to help investigative teams build stronger case narratives, collaborate seamlessly in a secure, unified workspace, and analyze a broad range of evidence and file types from digital forensics data, video, call detail records, and open-source intelligence to case records, license plate reader information, ballistics and geolocation data. Guardian Investigate is currently in limited release with general availability anticipated in early spring 2026.Go-To-MarketOn February 5, 2026, Cellebrite published its 2026 Industry Trends Survey, highlighting data-driven insights into the key challenges, shifts and opportunities shaping digital investigations across the public and private sectors worldwide.Supplemental financial information can be found on the Investor Relations section of our website at https://investors.cellebrite.com/financial-information/quarterly-results.Financial OutlookDavid Barter, Cellebrite's CFO, said, "Our fourth quarter 2025 performance underscores the resilience of our model – solid ARR expansion, sustained subscription momentum especially with our SaaS and cloud-enabled solutions, and outstanding free cash flow generation. Cellebrite moves into 2026 well positioned to scale efficiently and reaccelerate its ARR growth rate. As we continue to thoughtfully allocate capital to drive durable long-term growth, we plan to maintain strong operating profitability and a 30%-plus free cash flow margin in 2026 despite the transitory impacts associated with an unfavorable FX environment." The Company's first-quarter and full-year 2026 financial expectations are as follows:
First-Quarter 2026 Expectations
Full-Year 2026 Expectations
(as of 02/11/26)
(as of 02/11/26)ARR
$491 million - $493 million
$567 million - $573 millionAnnual Growth
20% - 21%
18% - 19%Revenue
$126 million - $128 million
$565 million - $571 millionAnnual Growth
18% - 20%
19% - 20%Adjusted EBITDA
$26 million - $28 million
$149 million - $155 millionAdjusted EBITDA margin
21%-22%
26% - 27%Conference Call Information
Cellebrite will host a live conference call and webcast later this morning to review the Company's fourth-quarter 2025 financial results and discuss its full-year 2026 outlook. Pertinent details include:Date:
Wednesday, February 11, 2026Time:
8:30 a.m. ETCall-In Number:
203-518-9814 / 800-274-8461Conference ID:
CLBTQ425Event URL:
https://investors.cellebrite.com/events/event-details/cellebrite-q4-2025-financial-results-conference-call-webcastWebcast URL:
https://edge.media-server.com/mmc/p/v9sjjqnrIn conjunction with the conference call and webcast, historical financial tables and supplemental data will be available on the quarterly results section of Company's investor relations website at https://investors.cellebrite.com/financial-information/quarterly-results.Non-GAAP Financial Information and Key Performance Indicators
This press release includes non-GAAP financial measures. Cellebrite believes that the use of non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP EPS and Adjusted EBITDA is helpful to investors. These measures, which the Company refers to as its non-GAAP financial measures, are not prepared in accordance with GAAP.The Company believes that the non-GAAP financial measures provide a more meaningful comparison of its operational performance from period to period, and offer investors and management greater visibility into the underlying performance of its business:Share-based compensation expenses utilize varying available valuation methodologies, subjective assumptions and a variety of equity instruments that can impact a company's non-cash expenses;Acquired intangible assets are valued at the time of acquisition and are amortized over an estimated useful life after the acquisition;Acquisition-related expenses and executive severance expenses relate to the cash component of contractual severance due to our former CEO and CFO, all of which are unrelated to current operations and neither are comparable to the prior period nor predictive of future results;To the extent that the above adjustments have an effect on tax (income) expense, such an effect is excluded in the non-GAAP adjustment to net income;Tax expense, depreciation and amortization expense vary for many reasons that are often unrelated to our underlying performance and make period-to-period comparisons more challenging; andFinancial instruments are remeasured according to GAAP and vary for many reasons that are often unrelated to the Company's current operations and affect financial income.Free cash flow is calculated as net cash provided by or used in operating activities less purchases of property and equipment. We believe that free cash flow is a useful indicator of liquidity that provides information to management and investors about the amount of cash provided by or used in our operations that, after the investments in property and equipment, can be used for strategic initiatives.Each of our non-GAAP financial measures is an important tool for financial and operational decision making and for evaluating our own operating results over different periods of time. The non-GAAP financial measures do not represent our financial performance under U.S. GAAP and should not be considered as alternatives to operating income or net income or any other performance measures derived in accordance with GAAP. Non-GAAP measures should not be considered in isolated from, or as an alternative to, financial measures determined in accordance with GAAP. Non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in our industry, as other companies in our industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, and exclude expenses that may have a material impact on our reported financial results. Further, share-based compensation expense has been, and will continue to be for the foreseeable future, significant recurring expenses in our business and an important part of the compensation provided to our employees. In addition, the amortization of intangible assets is expected recurring expense over the estimated useful life of the underlying intangible asset and acquisition-related expenses will be incurred to the extent acquisitions are made in the future. Furthermore, foreign exchange rates may fluctuate from one period to another, and the Company does not estimate movements in foreign currencies.A reconciliation of each of these non-GAAP financial measures to their most comparable GAAP measure is set forth in a table included at the end of this press release, which is also available on our website at https://investors.cellebrite.com.In regard to forward-looking non-GAAP guidance, we are not able to reconcile the forward-looking Adjusted EBITDA measure to the closest corresponding GAAP measure without unreasonable efforts because we are unable to predict the ultimate outcome of certain significant items including, but not limited to, fair value movements, share-based payments for future awards, tax expense, depreciation and amortization expense, and certain financing and tax items.This press release also includes key performance indicators, including annual recurring revenue and dollar-based retention rate.Annual recurring revenue ("ARR") is defined as the annualized value of active term-based subscription license contracts and maintenance contracts related to perpetual licenses in effect at the end of that period. Subscription license contracts and maintenance contracts for perpetual licenses are annualized by multiplying the revenue of the last month of the period by 12. The annualized value of contracts is a legal and contractual determination made by assessing the contractual terms with our customers. The annualized value of maintenance contracts is not determined by reference to historical revenue, deferred revenue or any other GAAP financial measure over any period. ARR is not a forecast of future revenues, which can be impacted by contract start and end dates and renewal rates.Dollar-based net retention rate ("NRR") is calculated by dividing customer recurring revenue by base revenue. We define base revenue as recurring revenue we recognized from all customers with a valid license at the last quarter of the previous year period, during the four quarters ended one year prior to the date of measurement. We define our customer revenue as the recurring revenue we recognized during the four quarters ended on the date of measurement from the same customer base included in our measure of base revenue, including recurring revenue resulting from additional sales to those customers.References to Websites and Social Media Platforms
References to information included on, or accessible through, websites and social media platforms do not constitute incorporation by reference of the information contained at or available through such websites or social media platforms, and you should not consider such information to be part of this press release.Caution Regarding Forward Looking Statements
This document includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," "anticipate," "will," "appear," "approximate," "foresee," "might," "possible," "potential," "believe," "could," "predict," "should," "could," "continue," "expect," "estimate," "may," "plan," "outlook," "future" and "project" and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include, but are not limited to, estimated financial information for the first quarter of 2026 and for fiscal year 2026 including those statements with respect to our 2026 outlook reflecting our conviction in accelerated ARR growth, quarterly and full-year 2026 revenue and annual recurring revenue, profitability, earnings and free cash flow, the anticipated rebound within the U.S. Federal segment, the belief that drone data and artifacts could emerge over the coming years as the second most valuable data source behind mobile/cell phones in the pursuit of justice and safety, the customer benefits associated with the acquisition of SCG Canada and the successful closing of the acquisition later this quarter, as well as commentary associated with future performance, strategies, prospects, and other aspects of Cellebrite's business are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to: Cellebrite's ability to keep pace with technological advances and evolving industry standards; Cellebrite's material dependence on the purchase, acceptance and use of its solutions by law enforcement and government agencies; real or perceived errors, failures, defects or bugs in Cellebrite's digital investigation solutions; Cellebrite's failure to maintain the productivity of sales and marketing personnel, including relating to hiring, integrating and retaining personnel; intense competition in all of Cellebrite's markets; the inadvertent or deliberate misuse of Cellebrite's solutions; failure to manage its growth effectively; Cellebrite's ability to introduce new solutions and add-ons; Cellebrite's dependency on its customers renewing their subscriptions and purchasing new subscriptions; the low volume of business Cellebrite conducts via e-commerce; risks associated with the use of artificial intelligence; the risk of requiring additional capital to support the growth of its business; risks associated with Cellebrite's dependency on third parties for supplying components or services and with higher costs or unavailability of materials used to create its hardware product components; lengthy sales cycle for some of Cellebrite's solutions; near term declines in new or renewed agreements; risks associated with inability to recruit, train and retain qualified personnel and senior management; the security of Cellebrite's operations and the integrity of its software solutions against cyber-attacks, information technology system breaches or disruptions; risks associated with the negative publicity related to Cellebrite's business and use of its products; risks related to Cellebrite's intellectual property; the regulatory constraints to which Cellebrite is subject; risks associated with Cellebrite's operations in Israel, including the ongoing Israel-Hamas war, the increased tension between Israel and Iran and its proxies, including the ongoing hostilities between Israel and Hezbollah, and the risk of a greater regional conflict; risks associated with different corporate governance requirements applicable to Israeli companies and risks associated with being a foreign private issuer and an emerging growth company; market volatility in the price of Cellebrite's shares; changing tax laws and regulations; risks associated with joint, ventures, partnerships and strategic initiatives; risks associated with Cellebrite's significant international operations, including due to fluctuations in foreign currency exchange rates, rising global inflation and exposure to regions subject to political or economic instability; risks associated with Cellebrite's failure to comply with anti-corruption, trade compliance, anti-money-laundering and economic sanctions laws and regulations; risks relating to the adequacy of Cellebrite's existing systems, processes, policies, procedures, internal controls and personnel for Cellebrite's current and future operations and reporting needs; and other factors, risks and uncertainties set forth in the section titled "Risk Factors" in Cellebrite's annual report on Form 20-F filed with the SEC on March 18, 2025, and in other documents filed by Cellebrite with the U.S. Securities and Exchange Commission ("SEC"), which are available free of charge at www.sec.gov. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, in this communication or elsewhere. Cellebrite undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.About Cellebrite
Cellebrite's (Nasdaq: CLBT) mission is to protect communities, nations and businesses as a global leader in digital investigative and intelligence solutions. More than 7,000 global law enforcement agencies, defense and intelligence organizations and enterprises trust Cellebrite's AI-powered software portfolio to make forensically sound digital data more accessible and actionable. Cellebrite technology allows customers to accelerate more than 1.5 million legally sanctioned investigations annually, enhance sovereign security, elevate operational efficacy and efficiency and enable advanced mobile research and application security. Available via cloud, on-premises and hybrid deployments, Cellebrite's technology enables its customers around the globe to advance their missions, elevate public safety and safeguard data privacy. To learn more, visit us at www.cellebrite.com. Contacts:Investors Relations
Andrew Kramer
Vice President, Investor Relations
investors@cellebrite.com
+1 973.206.7760Media
Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910Cellebrite DI Ltd.
Fourth-Quarter 2025 Results Summary
(U.S. Dollars in thousands)
For the three months ended
For the year ended
December 31,
December 31,
2025
2024
2025
2024
Revenue128,821
109,049
475,675
401,203Gross profit109,130
91,425
400,503
338,610 Gross margin84.7 %
83.8 %
84.2 %
84.4 %Operating income20,805
15,727
66,480
56,906 Operating margin 16.2 %
14.4 %
14.0 %
14.2 %Net income (loss) 21,261
19,269
78,326
(283,007)Cash flow from operating activities86,811
65,967
173,544
132,171
Non-GAAP Financial Data:
Operating income 36,498
26,928
120,663
92,119 Operating margin28.3 %
24.7 %
25.4 %
23.0 %Net income36,694
26,123
130,506
97,761Adjusted EBITDA38,331
28,793
127,631
99,377Adjusted EBITDA margin29.8 %
26.4 %
26.8 %
24.8 % Cellebrite DI Ltd.
Condensed Consolidated Balance Sheets
(U.S. Dollars in thousands)
December 31,
December 31,
2025
2024Assets
Current assets
Cash and cash equivalents
$ 124,457
$ 191,659Short-term deposits
161,049
153,746Marketable securities
151,544
101,818Trade receivables (net of allowance for credit losses of $506 and $594 as of December 31, 2025 and
December 31, 2024, respectively)
104,972
82,358Prepaid expenses and other current assets
19,630
23,246Contract acquisition costs
6,595
5,827Inventories
7,603
8,939Total current assets
575,850
567,593
Non-current assets
Other non-current assets
14,618
7,682Marketable securities
97,959
36,601Deferred tax assets, net
10,880
11,072Property and equipment, net
22,209
16,995Operating lease right-of-use assets, net
16,308
10,604Intangible assets, net
81,469
11,306Goodwill
119,559
28,714Total non-current assets
363,002
122,974Total assets
$ 938,852
$ 690,567
Liabilities and shareholders' equity
Current Liabilities
Trade payables
$ 16,834
$ 11,077Other accounts payable and accrued expenses
71,244
63,330Deferred revenues
277,583
216,970Operating lease liabilities
3,996
4,125Total current liabilities
369,657
295,502
Long-term liabilities
Other long-term liabilities
16,677
6,954Deferred revenues
49,526
45,247Operating lease liabilities
18,674
6,844Total long-term liabilities
84,877
59,045Total liabilities
454,534
354,547
Shareholders' equity
Share capital
*)
*)Additional paid-in capital
568,721
498,883Treasury share, NIS 0.00001 par value; 41,776 ordinary shares
(85)
(85)Accumulated other comprehensive income
2,220
2,086Accumulated deficit
(86,538)
(164,864)Total shareholders' equity
484,318
336,020Total liabilities and shareholders' equity
$ 938,852
$ 690,567
*) Less than 1 USD Cellebrite DI Ltd.
Condensed Consolidated Statements of Income
(U.S. Dollars in thousands, except share and per share data)
For the three months ended
For the year ended
December 31,
December 31,
2025
2024
2025
2024
Revenue:
Subscription services$ 89,068
$ 73,848
$ 330,765
$ 271,028Term-license26,426
21,220
96,245
82,007Other non-recurring4,564
6,293
17,771
17,285Professional services 8,763
7,688
30,894
30,883Total revenue128,821
109,049
475,675
401,203
Cost of revenue:
Subscription services10,502
7,156
37,461
26,004Term-license87
—
87
—Other non-recurring4,327
4,865
15,617
16,200Professional services4,775
5,603
22,007
20,389Total cost of revenue 19,691
17,624
75,172
62,593
Gross profit$ 109,130
$ 91,425
$ 400,503
$ 338,610
Operating expenses:
Research and development29,865
25,599
113,877
98,415Sales and marketing38,561
35,524
154,814
132,389General and administrative19,899
14,575
65,332
50,900Total operating expenses$ 88,325
$ 75,698
$ 334,023
$ 281,704
Operating income $ 20,805
$ 15,727
$ 66,480
$ 56,906Financial income (expense), net5,466
4,170
24,198
(332,890)Income (loss) before tax 26,271
19,897
90,678
(275,984)Tax expense5,010
628
12,352
7,023Net income (loss)$ 21,261
$ 19,269
$ 78,326
$ (283,007)
Earnings (losses) per share
Basic$ 0.09
$ 0.08
$ 0.32
$ (1.35)Diluted$ 0.08
$ 0.08
$ 0.31
$ (1.35)
Weighted average shares outstanding
Basic245,282,244
233,248,045
241,626,316
209,471,827Diluted251,501,118
247,353,640
249,903,126
209,471,827
Other comprehensive (loss) income:
Unrealized (loss) income on hedging transactions(377)
261
1,115
(487)Unrealized income (loss) on marketable securities16
(411)
317
113Currency translation adjustments122
1,820
(1,298)
1,410Total other comprehensive (loss) income, net of tax(239)
1,670
134
1,036Total other comprehensive income (loss)$ 21,022
$ 20,939
$ 78,460
$ (281,971) Cellebrite DI Ltd.
Condensed Consolidated Statements of Cash Flow
(U.S. Dollars in thousands, except share and per share data)
For the three months ended
For the year ended
December 31,
December 31,
2025
2024
2025
2024
Cash flow from operating activities:
Net income (loss)
$ 21,261
$ 19,269
$ 78,326
$ (283,007)Adjustments to reconcile net income to net cash provided
by operating activities:
Share-based compensation and RSU's
11,997
9,269
44,892
30,575Amortization of premium, discount and accrued interest
on marketable securities
(158)
(866)
(2,371)
(2,904)Depreciation and amortization
3,941
2,729
11,867
10,607Disposal and write-off of property and equipment
554
—
554
—Abandonment of right-of-use assets and disposal of
leasehold improvements
1,760
—
1,760
—Interest income from short-term deposits
(1,747)
(2,836)
(8,164)
(10,736)Deferred tax assets, net
1,899
(1,813)
75
(4,015)Remeasurement of Warrant liability
—
—
—
110,664Remeasurement of Restricted Sponsor Shares liability
—
—
—
65,889Remeasurement of Price Adjustment Shares liability
—
—
—
173,051Decrease (increase) in trade receivables
4,654
10,263
(15,781)
(5,829)Increase in deferred revenue
33,156
17,255
49,768
22,317Increase in other non-current assets
(8,329)
(47)
(6,936)
(341)Decrease (increase) in prepaid expenses and other
current assets
2,546
(2,885)
5,614
3,201Changes in operating lease right-of-use assets
1,162
1,450
4,585
5,335Changes in operating lease liability
3,150
(1,278)
547
(4,839)Decrease in inventories
1,284
746
1,632
982Decrease in trade payables
5,442
3,917
4,943
2,755Increase in other accounts payable and accrued expenses
6,810
11,722
4,248
17,586(Decrease) increase in other long-term liabilities
(2,571)
(928)
(2,015)
880Net cash provided by operating activities
86,811
65,967
173,544
132,171
Cash flows from investing activities:
Purchases of property and equipment
(3,956)
(3,178)
(13,225)
(8,566)Cash paid in conjunction with acquisitions, net of
acquired cash
(147,456)
—
(147,456)
(2,748)Purchase of Intangible assets
—
(1,139)
—
(2,043)Investment in marketable securities
(126,028)
(15,079)
(321,231)
(127,789)Proceeds from maturities of marketable securities
34,772
10,985
152,992
59,971Proceeds from sales of marketable securities
28,643
—
59,809
—Investment in short-term deposits
(88,000)
(39,000)
(187,000)
(207,000)Redemption of short-term deposits
55,914
31,462
187,861
138,702Net cash used in investing activities
(246,111)
(15,949)
(268,250)
(149,473)
Cash flows from financing activities:
Exercise of options to shares
1,022
5,756
20,097
17,265Proceeds from Employee Share Purchase Plan
1,318
974
4,956
3,344Exercise of Warrants
—
—
—
53Redemption of Warrants
—
—
—
(11)Net cash provided by financing activities
2,340
6,730
25,053
20,651
Net (decrease) increase in cash and cash equivalents
(156,960)
56,748
(69,653)
3,349Net effect of Currency Translation on cash and cash
equivalents
56
(1,438)
2,451
(1,207)Cash and cash equivalents at beginning of period
281,361
136,349
191,659
189,517Cash and cash equivalents at end of period
$ 124,457
$ 191,659
$ 124,457
$ 191,659
Supplemental cash flow information:
Income taxes paid (received)
$ 2,838
$ 3,801
$ (549)
$ 7,706Non-cash activities
Operating lease liabilities arising from obtaining right-of-
use assets
$ (1,987)
$ 53
$ 11,154
$ 1,884Reclassification and exercise of public and private
Warrants
$ —
$ —
$ —
$ 164,770Reclassification and release of Restricted Sponsor Shares
$ —
$ —
$ —
$ 113,136Reclassification and issuance of Price Adjustment Shares
$ —
$ —
$ —
$ 254,766 Cellebrite DI Ltd.
Reconciliation of GAAP to Non-GAAP Financial Information
(U.S. Dollars in thousands, except share and per share data)
For the three months ended
For the year ended
December 31,
December 31,
2025
2024
2025
2024
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)Cost of revenue$ 19,691
$ 17,624
$ 75,172
$ 62,593Less:
Share-based compensation775
575
3,180
2,227Amortization of intangible assets881
—
881
—Acquisition-related costs—
—
—
2Non-GAAP cost of revenue$ 18,035
$ 17,049
$ 71,111
$ 60,364
For the three months ended
For the year ended
December 31,
December 31,
2025
2024
2025
2024
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)Gross profit$ 109,130
$ 91,425
$ 400,503
$ 338,610Share-based compensation775
575
3,180
2,227Amortization of intangible assets881
—
881
—Acquisition-related costs—
—
—
2Non-GAAP gross profit$ 110,786
$ 92,000
$ 404,564
$ 340,839
For the three months ended
For the year ended
December 31,
December 31,
2025
2024
2025
2024
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)Operating expenses$ 88,325
$ 75,698
$ 334,023
$ 281,704Less:
Share-based compensation11,222
8,694
41,712
28,348Amortization of intangible assets1,227
864
4,018
3,349Acquisition-related costs1,588
—
3,818
219Executive severance costs—
1,068
574
1,068Non-GAAP operating expenses$ 74,288
$ 65,072
$ 283,901
$ 248,720
For the three months ended
For the year ended
December 31,
December 31,
2025
2024
2025
2024
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)Operating income $ 20,805
$ 15,727
$ 66,480
$ 56,906Share-based compensation 11,997
9,269
44,892
30,575Amortization of intangible assets2,108
864
4,899
3,349Acquisition-related costs1,588
—
3,818
221Executive severance costs—
1,068
574
1,068Non-GAAP operating income $ 36,498
$ 26,928
$ 120,663
$ 92,119
For the three months ended
For the year ended
December 31,
December 31,
2025
2024
2025
2024
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)Net income (loss)$ 21,261
$ 19,269
$ 78,326
$ (283,007)Share-based compensation 11,997
9,269
44,892
30,575Amortization of intangible assets2,108
864
4,899
3,349Acquisition-related costs1,588
—
3,818
221Executive severance costs—
1,068
574
1,068Tax income(260)
(4,347)
(2,003)
(4,049)Finance expense from financial derivatives—
—
—
349,604Non-GAAP net income $ 36,694
$ 26,123
$ 130,506
$ 97,761
Non-GAAP Earnings per share:
Basic$ 0.15
$ 0.11
$ 0.54
$ 0.45Diluted$ 0.14
$ 0.10
$ 0.51
$ 0.42
Weighted average shares outstanding:
Basic245,282,244
233,248,045
241,626,316
209,471,827Diluted257,274,507
250,539,405
254,677,860
227,258,731
For the three months ended
For the year ended
December 31,
December 31,
2025
2024
2025
2024
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)Net income (loss)$ 21,261
$ 19,269
$ 78,326
$ (283,007)Financial (income) expense, net(5,466)
(4,170)
(24,198)
332,890Tax expense 5,010
628
12,352
7,023Share-based compensation11,997
9,269
44,892
30,575Amortization of intangible assets2,108
864
4,899
3,349Acquisition-related costs1,588
—
3,818
221Depreciation expenses1,833
1,865
6,968
7,258Executive severance costs —
1,068
574
1,068Adjusted EBITDA$ 38,331
$ 28,793
$ 127,631
$ 99,377
For the three months ended
For the year ended
December 31,
December 31,
2025
2024
2025
2024
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)Net cash provided by operating activities$ 86,811
$ 65,967
$ 173,544
$ 132,171Less:
Purchases of property and equipment(3,956)
(3,178)
(13,225)
(8,566)Free cash flow$ 82,855
$ 62,789
$ 160,319
$ 123,605Free cash flow margin64.3 %
57.6 %
33.7 %
30.8 % Cellebrite DI Ltd.
Reconciliation of GAAP to Non-GAAP Financial Information
(U.S. Dollars in thousands, except share and per share data)
December 31
December 31
2025
2024
(Unaudited)
(Unaudited)Total ARR$ 480,760
$ 395,899ARR related to acquisitions16,078
—Organic ARR$ 464,682
$ 395,899
View original content to download multimedia:https://www.prnewswire.com/news-releases/cellebrite-announces-record-fourth-quarter-and-full-year-2025-results-302684465.htmlSOURCE Cellebrite
Original: Cellebrite Announces Record Fourth-Quarter and Full-Year 2025 Results
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