Core Insights - Cellebrite reported a strong fourth quarter with a gross margin of 86% and a full-year gross margin of 85%, indicating improved profitability [1][7] - The company achieved fourth-quarter revenue of $128.8 million, an 18% increase year-over-year, and full-year revenue of $475.7 million, up 19% [2][7] - Total annual recurring revenue (ARR) for fiscal 2025 reached $481 million, a 21% increase year-over-year, with a contribution of $16.1 million from the recently acquired Corellium [3][7] Financial Performance - Adjusted EBITDA for the fourth quarter was $38.3 million, reflecting a 33% year-over-year increase, with a margin of 29.8% [1][7] - Free cash flow for the fourth quarter was $82.3 million, totaling $160 million for the full year, resulting in a 34% free cash flow margin [8][7] - The company ended fiscal 2025 with $535 million in cash and investments, an increase of $52 million despite $147 million used for the Corellium acquisition [8][7] Growth Drivers - SaaS/cloud ARR grew over 50% and now constitutes 22% of total ARR, with the Guardian product achieving six consecutive quarters of over 100% year-over-year growth [6][13] - The Americas accounted for 53% of total ARR, with a 19% growth rate, while EMEA and Asia-Pacific grew by 24% and 23%, respectively [9][7] Product and Market Initiatives - The company is focusing on integrating Corellium and has announced an agreement to acquire SCG Canada for drone forensics capabilities, expected to close by the end of Q1 2026 [4][17] - Management anticipates a shift towards higher-growth products, with solutions like Pathfinder, Guardian, and Corellium expected to represent 20% of total ARR by the end of 2026 [10][7] 2026 Outlook - For fiscal 2026, Cellebrite projects ARR between $567 million and $573 million, revenue between $565 million and $571 million, and Adjusted EBITDA between $149 million and $155 million [5][19] - The company expects federal market growth to reaccelerate, driven by pent-up demand and increased federal funding focus [21][22]

Financial Data and Key Metrics Changes - The company closed 2025 with an ARR growth of 21% to $481 million, including the acquisition of Corellium, which contributed $16.1 million to ARR [21][22] - Excluding Corellium, ARR grew 17% year-over-year, with a sequential increase of 6% from Q3 [21][22] - Revenue for Q4 grew 18% to $128.8 million, while full-year revenue increased 19% to $475.7 million [23] - Adjusted EBITDA for Q4 was $38.3 million, a 33% increase year-over-year, with a margin of 29.8% [24] - Free cash flow for the full year was $160 million, representing a 34% margin, which is a 30% increase over 2024 [24][25] Business Line Data and Key Metrics Changes - The company converted 55% of its installed digital forensics base to Inseyets, exceeding the 50% target [7] - ARR for SaaS and cloud offerings grew over 50%, now representing 22% of total ARR [9] - Higher growth solutions like Pathfinder and Guardian now represent 14% of total ARR, expected to approach 20% by the end of the coming year [22] Market Data and Key Metrics Changes - The Americas accounted for 53% of total ARR, with EMEA at 35% and Asia-Pacific at 12% [22] - Growth rates by geography showed the Americas growing 19%, EMEA 24%, and Asia-Pacific 23% [22] Company Strategy and Development Direction - The company aims to reaccelerate growth in 2026 with initial guidance of 18%-19% compared to 17% organic growth in 2025 [10] - Focus on expanding digital forensics capabilities, including investments in mobile research and drone forensics [8][14] - The acquisition of SCG Canada is expected to enhance the company's capabilities in drone forensics, addressing a growing market [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about strong core demand for solutions, driven by macro trends such as crime and population growth [10] - The U.S. federal segment is expected to recover and exceed overall growth rates in 2026, aided by increased federal funding and the anticipated approval for FedRAMP Level 4 [11] - The company is focused on maintaining a free cash flow margin of at least 30% while reaccelerating ARR growth [25][31] Other Important Information - The company ended 2025 with $535 million in cash and investments, up $52 million despite the acquisition outflow [24] - The company plans to launch Guardian Investigate in spring 2026, aimed at enhancing case narratives for investigators [17] Q&A Session Summary Question: How will the company ensure successful execution of the SCG Canada and Corellium acquisitions? - Management indicated that the Corellium transaction took longer than expected but has allowed for better integration planning. The SCG acquisition is seen as complementary and manageable [34][35] Question: What drove the decision to acquire SCG Canada? - The acquisition was driven by both customer demand and strategic planning to address the growing drone market, which is expected to expand significantly [38][40] Question: What are the expectations for U.S. federal government spending? - Management noted that there is pent-up demand in defense and intelligence use cases, with confidence in growth due to strategic planning and upcoming events like the FIFA World Cup [48][49] Question: How will the company approach the integration of Corellium and its impact on costs? - The integration is expected to initially compress margins but is anticipated to improve profitability as the company grows into the acquisition [75][76]

UPDATED: FEBRUARY 2026 INTRODUCTION TO CELLEBRITE INVESTOR PRESENTATION February 11, 2026 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, an ...

INVESTOR PRESENTATION UPDATED: FEBRUARY 2026 INTRODUCTION TO CELLEBRITE February 11, 2026 www.cellebrite.com © 2025 Cellebrite DI Ltd. www.cellebrite.com DISCLAIMER This presentation has been prepared by Cellebrite DI Ltd. (the "Company") solely for informational purposes. It is not, and should not be assumed to be, complete. This presentation is not an offer to sell securities, nor is it a solicitation of an offer to buy securities. This presentation is not directed at, or intended for distribution to or u ...

Financial Data and Key Metrics Changes - Annual Recurring Revenue (ARR) grew 19% year-over-year to $440 million, with a sequential increase of 5% [23][24] - Third quarter revenue reached $126 million, an 18% increase from the previous year, primarily driven by a 21% growth in subscription revenue [24][25] - Adjusted EBITDA for the third quarter was $37.7 million, up 20% year-over-year, with a margin of 29.9% [25][30] - Free cash flow for the third quarter was $30 million, with a trailing twelve-month free cash flow of $140 million, representing a margin of 31% [27][30] Business Line Data and Key Metrics Changes - Subscription revenue grew 21%, with approximately 89% of total revenue associated with subscription-based software solutions [24][25] - The U.S. State and Local segment and Latin America were highlighted as strong performers, contributing significantly to subscription revenue growth [24][25] - ARR for SaaS and cloud-based solutions grew three times faster than total ARR, with Guardian's customer base more than doubling year-over-year [12][25] Market Data and Key Metrics Changes - The Americas accounted for 55% of total ARR, with EMEA at 33% and Asia Pacific at 12% [24] - The Americas segment grew 21%, driven by strong performance in U.S. State and Local government and Latin America [24] Company Strategy and Development Direction - The company is focused on four core growth vectors: leadership in unlock and access solutions, innovation in AI and digital investigations, resurgence in U.S. Federal sector growth, and the acquisition of Keryllium to expand its total addressable market (TAM) [14][18][19] - The strategic focus on the global defense and intelligence sector is yielding positive results, with increased investments from military and intelligence agencies [13][18] - The upcoming launch of Guardian Investigate is expected to transform the investigation lifecycle and enhance collaboration and insights [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong rebound in 2026, driven by pent-up demand and targeted funding releases [17][20] - The company remains cautious about the fourth quarter due to normal government seasonality and recent shutdowns but anticipates these factors to be transitory [17][20] - The management team emphasized the importance of disciplined spending and margin expansion to maintain profitability and free cash flow [21][30] Other Important Information - The company ended the third quarter with $595 million in cash, cash equivalents, and investments, positioning it well for future growth and potential acquisitions [26][27] - The acquisition of Keryllium is expected to close soon, which will enhance the company's offerings in the defense and intelligence sectors [19][20] Q&A Session Summary Question: Path forward to cloud adoption as a percent of ARR - Management indicated ongoing partnerships with customers transitioning to cloud solutions, with many products already in the cloud [42][44] Question: Insights on Keryllium's pipeline and growth potential - The company has built a significant pipeline for Keryllium, with initial orders processed and expectations for more transactions in Q4 [46][47] Question: 2026 growth prospects and guidance - Management refrained from providing specific numbers for 2026 but expressed confidence in accelerated growth compared to 2025 [50][52] Question: Federal business performance and growth drivers - The federal segment returned to growth in Q3, with significant orders from strategic clients, indicating strong product fit and momentum [58][60] Question: Competitive landscape and market positioning - The company noted high barriers to entry in the market, with no significant new entrants, and expressed confidence in its competitive positioning [91][93]

Financial Performance - Total revenue for Q3 2025 reached $126 million, an 18% increase compared to $107 million in Q3 2024[42] - Subscription revenue for Q3 2025 was $113 million, a 21% increase from $93 million in Q3 2024[42] - ARR (Annual Recurring Revenue) as of September 2025 reached $440 million, a 19% increase compared to $371 million in September 2024[42] - Adjusted EBITDA for Q3 2025 was $38 million, representing 30% of revenue, compared to $31 million and 29% in Q3 2024[42] - The company anticipates ARR to be between $460 million and $475 million for fiscal year 2025, representing a growth of 16% to 20%[72] - The company expects revenue to be between $470 million and $475 million for fiscal year 2025, representing a growth of 17% to 18%[72] - The company projects adjusted EBITDA to be between $124 million and $127 million for fiscal year 2025, with an adjusted EBITDA margin of 26% to 27%[72] Acquisition - Cellebrite is set to acquire Corellium for $170 million in cash, with an additional $30 million earn-out potential over 2 years, the deal is expected to close in Q4 2025[34] Market Position - Cellebrite has a global customer base of approximately 7,000 customers[8] - Cellebrite's solutions are used in over 1.5 million legally-sanctioned investigations in 2024[8] - Cellebrite serves over 3,000 state and local accounts in North America, including 72 out of the top 100[24]

Core Insights - Cellebrite reported a 19% increase in Annual Recurring Revenue (ARR) to $439.8 million and an 18% increase in revenue to $126.0 million for the third quarter of 2025 [1][6] - The company achieved a net income of $20.2 million, supporting a non-GAAP net income of $36.9 million and an adjusted EBITDA of $37.7 million, resulting in a 29.9% adjusted EBITDA margin [1][6] Financial Performance - Revenue for the third quarter reached $126.0 million, up 18% year-over-year, with subscription revenue at $112.7 million, reflecting a 21% increase [6][27] - The dollar-based net retention rate for recurring revenue was reported at 117% [6] - GAAP gross profit was $105.7 million, with a gross margin of 83.9%, while non-GAAP gross profit was $106.5 million, yielding a gross margin of 84.5% [6][28] Business Highlights - The CEO highlighted the strong performance in the U.S. Federal business, indicating optimism for growth in 2026 as government budgets are expected to increase [2] - Cellebrite's Autumn 2025 Release introduced new capabilities in its Digital Investigation Platform, including the Guardian Investigate solution, set for general availability in early 2026 [6][10] - The company is also enhancing its flagship digital forensics solution, Inseyets, with improved access to Android and iOS devices [6] Leadership Changes - On October 30, 2025, Holly Windham was appointed as General Counsel and Chief Compliance Officer, bringing extensive legal leadership experience [5][7] Financial Outlook - The CFO indicated strong demand in the U.S. state and local segments, projecting a free cash flow margin of approximately 30% for the full year 2025 [10] - For the fourth quarter of 2025, revenue expectations are between $123 million and $128 million, with full-year revenue projected at $470 million to $475 million [10]

Core Insights - Cellebrite will report its third-quarter 2025 financial results on November 12, 2025, after U.S. market close [1] - A live conference call and webcast will be held on the same day to discuss the financial results and full-year outlook [2] Company Overview - Cellebrite is a global leader in Digital Investigative solutions, focusing on enhancing digital investigations and intelligence gathering to accelerate justice [3] - The company provides AI-powered Digital Investigation Platform that allows lawful access, collection, analysis, and sharing of digital evidence while preserving data privacy [3] - Thousands of public safety organizations, intelligence agencies, and businesses utilize Cellebrite's solutions to close cases faster and safeguard communities [3]

Core Insights - Cellebrite announced its Autumn 2025 Release, enhancing its Digital Investigation Platform with new integrations and AI-powered analysis capabilities [1][3] - The addition of Corellium technology through a reseller agreement expands Cellebrite's mobile virtualization offerings, enhancing its digital intelligence solutions [2][3] Product Innovations - The Autumn 2025 Release includes the new Guardian Investigate solution, which utilizes agentic AI to analyze various evidence types and streamline investigative workflows [5] - The Guardian suite has been expanded to include SaaS offerings for digital forensics and investigations, with a focus on collaboration and data residency compliance for EU customers [5] - New deployment options for Pathfinder, Cellebrite's multi-device investigative data analytics solution, are now available in AWS GovCloud, offering cost-optimized configurations [5] Market Impact - Cellebrite's technology is utilized in over 1.5 million investigations annually, serving more than 7,000 customers globally across various sectors including law enforcement and intelligence [3][6] - The integration of Corellium solutions has attracted multiple customers in the defense and intelligence sectors, enhancing mobile vulnerability research and application security testing [5]

Core Insights - Cellebrite has expanded its partnership with the National Center for Missing and Exploited Children (NCMEC) to enhance investigations related to child exploitation [1][3] - The integration of NCMEC's CyberTipline hash value list into Cellebrite's digital forensics software, Cellebrite Inseyets, allows for immediate identification of known child sexual abuse material (CSAM) [1][2] - This integration is expected to significantly reduce the time required for investigators to locate CSAM, thereby accelerating the process of evidence collection and prosecution of offenders [2][3] Company Overview - Cellebrite is a leader in digital investigative solutions, focusing on enhancing digital intelligence and accelerating justice for public safety agencies [5] - The company’s AI-powered Case-to-Closure (C2C) platform is designed to assist in lawful access, collection, analysis, and sharing of digital evidence while maintaining data privacy [5] - Cellebrite's initiatives, such as "Operation Find Them All" (OFTA), aim to leverage technology in protecting children and have already contributed to numerous investigations leading to rescues and arrests [3][5] Industry Context - The partnership with NCMEC is part of a broader effort to combat child exploitation and enhance the capabilities of law enforcement agencies [3][6] - The integration of technology in investigations is seen as a critical advancement in the fight against online child exploitation, providing tools that improve the efficiency and effectiveness of law enforcement [2][3] - NCMEC plays a vital role in supporting public safety agencies in cases involving missing and endangered children, working collaboratively with organizations like Cellebrite [6][7]