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Cellebrite DI (CLBT)
NASDAQ:CLBT
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Cellebrite DI
(NASDAQ:CLBT)
Rating:54Neutral
Price Target:
$16.00
▼(-2.85% Downside)
Positive Factors
Acquisition and Expansion
Cellebrite announced an agreement to acquire Arm-based virtualization software company Corellium for $170 Million in Cash, broadening Cellebrite's TAM for both the Public & Private sectors.
Financial Performance
Revenue was above consensus on 18% growth, with subscription revenue increasing by 21% over the prior-year quarter.
Leadership Changes
Interim Chief Executive Officer Tom Hogan has been appointed CEO effective immediately, providing stability at the top of the organization.
Negative Factors
Funding Challenges
The near term may still be challenged by funding delays associated with the One, Big, Beautiful Bill that were discussed on the earnings call.
Revenue Outlook
The company lowered its full-year ARR outlook by 4%.
Stock Performance
Shares of Cellebrite are trading down 12% after the company reported mixed first-quarter results, with revenue below and EBITDA above consensus.
Cellebrite DI (CLBT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.78B
Dividend YieldN/A
Average Volume (3M)2.10M
Price to Earnings (P/E)―
Beta (1Y)0.95
Revenue Growth20.48%
EPS Growth-44.22%
CountryUS
Employees1,167
SectorTechnology
Sector Strength83
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.08
Shares Outstanding239,470,060
10 Day Avg. Volume3,242,087
30 Day Avg. Volume2,096,239
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.93
Enterprise Value/Revenue8.43
Enterprise Value/Gross Profit10.03
Enterprise Value/Ebitda50.14
Forecast
1Y Price Target
$21.67Price Target Upside31.57% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
Cellebrite DI Business Overview & Revenue Model
Company DescriptionCellebrite DI Ltd. develops solutions for legally sanctioned investigations. Its DI platform allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations and solutions are used in a various case, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, intellectual property theft, and civil litigation. The company's Universal Forensic Extraction Device solution addresses problems in accessing digital information, including complicated device locks, encryption barriers, deleted and unknown content, and other obstacles that can prevent critical evidence from coming to light. It also offers Seeker solution that provides the ability to analyze video footage; OSINT Analyze, a real-time deep dive solution used to analyze open-source information, such as the surface web, deep web, and the dark web; and Crypto Tracer, which analyzes blockchain transactions together with related data from an extensive list of sources to identify and categorize wallets, and transactions. The company serves federal and state and local agencies, as well as enterprise companies and service providers. It has operations in the United States, Germany, Singapore, Australia, Brazil, United Kingdom, France, Canada, Japan, and India. The company was incorporated in 1999 and is based in Petah Tikva, Israel. Cellebrite Mobile Synchronization Ltd. operates as a subsidiary of Sun Corporation.
How the Company Makes MoneyCellebrite generates revenue through the sale of its digital intelligence solutions, which include hardware, software, and service offerings tailored to different investigative needs. Key revenue streams include licensing fees for their software products, sales of digital forensics hardware such as data extraction devices, and ongoing service and maintenance contracts. The company also benefits from significant partnerships with law enforcement agencies and government bodies globally, which allows it to secure long-term contracts and recurring revenue streams. Additionally, Cellebrite offers training and consulting services, adding another layer to its revenue model.
Cellebrite DI Earnings Call Summary
Earnings Call Date:Aug 14, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 05, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant growth in ARR, cloud and SaaS solutions, and the Guardian product. The acquisition of Corellium is expected to further boost innovation and market expansion. However, uncertainty in the U.S. Federal market and modest private sector performance present challenges. Despite these challenges, the company's strong financial performance and strategic initiatives contribute to an overall positive sentiment.Q2-2025 Updates
Positive Updates
Strong ARR Growth
ARR grew 21% to $419 million, driven by increased spending within the customer base. The Americas led with 24% growth, followed by 21% in Asia Pacific and 17% in EMEA.
Cloud and SaaS Solutions Growth
Cloud and SaaS solutions reached 20% of total ARR, reflecting over 50% growth in these offerings.
Guardian Product Success
ARR for Guardian grew by more than 100% year-on-year for the fourth consecutive quarter, with strong adoption in U.S. SLG, Latin America, the U.K., and Australia.
Improved Profitability
Adjusted EBITDA for the second quarter increased 29% to $27.9 million, with a margin increase of 200 basis points to 24.6%.
Corellium Acquisition
The acquisition of Corellium is expected to accelerate innovation and expand Cellebrite's addressable market, particularly in the defense and intelligence sectors.
Negative Updates
U.S. Federal Market Uncertainty
The timing of orders from the U.S. Federal segment remains uncertain, impacting ARR and revenue projections for 2025.
Private Sector Performance
A modest quarter was reported in the private sector, indicating slower growth compared to other areas.
Company Guidance
During Cellebrite's second-quarter 2025 financial results call, the company provided guidance along with a detailed review of its financial performance. The company reported ARR growth of 21%, reaching $419 million, with the Americas contributing 54% of total ARR. The growth was primarily driven by increased spending within the customer base, particularly in the U.S. state and local government and Latin America. Revenue for the quarter was $113.3 million, marking an 18% increase, driven by a 21% rise in subscription revenue. The gross margin stood at 85%, with adjusted EBITDA reaching $27.9 million, a 29% increase from the previous year, leading to a margin of 24.6%. Despite uncertainties in U.S. federal spending, the company maintained a positive outlook, projecting full-year ARR growth between 16% and 20%, with revenue expected to grow by 16% to 18%. The company also highlighted its strategic initiatives, including the acquisition of Corellium and advancements in AI-driven internal innovations, as key drivers for future growth.Cellebrite DI Financial Statement Overview
Summary
Cellebrite DI exhibits strong revenue growth and operational efficiency, but faces challenges with net profitability. The balance sheet is stable with low leverage, and cash flow generation is robust, supporting liquidity. Attention to improving net income will be crucial for enhancing financial health.Income Statement
Cellebrite DI has shown positive revenue growth from 2024 to TTM, with a TTM revenue of $419.17M. Gross profit margin remains strong at 84.05%, but the net profit margin is negative due to a net loss of $194.235M, indicating profitability challenges. EBIT and EBITDA margins are positive, reflecting operational efficiency, but overall profitability is impacted by net losses.65
Positive
Balance Sheet
The balance sheet reflects a solid equity position with a total stockholders' equity of $363.494M and a manageable debt-to-equity ratio of 0.03. The equity ratio is 51.20%, indicating a strong equity base in relation to total assets. However, net income losses have impacted return on equity, highlighting a need for improved profitability.70
Positive
Cash Flow
Cellebrite DI has demonstrated strong operating cash flow, with a TTM figure of $143.008M, and a positive free cash flow of $132.18M. The operating cash flow to net income ratio is high due to the net loss, suggesting a disconnect between cash generation and accounting profits. Free cash flow growth is positive, which is a healthy sign for liquidity.75
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 419.17M | 401.20M | 325.11M | 270.65M | 246.25M | 194.91M |
| Gross Profit | 352.35M | 338.61M | 271.88M | 219.91M | 203.69M | 157.03M |
| EBITDA | 70.48M | 67.51M | -64.80M | 10.24M | 89.88M | 16.95M |
| Net Income | -194.24M | -283.01M | -81.10M | 120.81M | 71.40M | 5.78M |
Balance Sheet | ||||||
| Total Assets | 709.89M | 690.57M | 532.88M | 403.29M | 339.78M | 364.39M |
| Cash, Cash Equivalents and Short-Term Investments | 409.49M | 447.22M | 302.92M | 183.62M | 181.56M | 237.64M |
| Total Debt | 10.60M | 10.97M | 14.13M | 15.36M | 0.00 | 0.00 |
| Total Liabilities | 346.40M | 354.55M | 498.67M | 329.43M | 413.13M | 300.58M |
| Stockholders Equity | 363.49M | 336.02M | 34.21M | 73.86M | -73.35M | 63.80M |
Cash Flow | ||||||
| Free Cash Flow | 132.18M | 121.56M | 94.14M | 11.49M | 27.94M | 60.33M |
| Operating Cash Flow | 143.01M | 132.17M | 102.06M | 20.58M | 36.05M | 66.51M |
| Investing Cash Flow | -194.38M | -149.47M | -22.54M | -91.23M | 45.23M | -6.45M |
| Financing Cash Flow | 19.20M | 20.65M | 21.77M | 13.97M | -68.40M | -8.59M |
Cellebrite DI Technical Analysis
Positive
16.47
Price Trends
14.97
Positive
16.52
Negative
18.59
Negative
Market Momentum
0.40
Negative
66.52
Neutral
87.40
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLBT, the sentiment is Positive. The current price of 16.47 is above the 20-day moving average (MA) of 14.80, above the 50-day MA of 14.97, and below the 200-day MA of 18.59, indicating a neutral trend. The MACD of 0.40 indicates Negative momentum. The RSI at 66.52 is Neutral, neither overbought nor oversold. The STOCH value of 87.40 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CLBT.
Cellebrite DI Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $4.75B | 26.19 | 39.53% | ― | 9.69% | 9.50% | |
72 Outperform | $6.43B | ― | -25.73% | ― | 14.29% | -14.42% | |
64 Neutral | $5.46B | ― | -26.98% | ― | 28.19% | -31.34% | |
63 Neutral | $3.58B | ― | -12.60% | ― | 11.41% | 33.76% | |
61 Neutral | $35.62B | 7.50 | -10.94% | 1.87% | 8.86% | -10.27% | |
56 Neutral | $1.30B | 49.49 | 155.46% | ― | 4.67% | ― | |
54 Neutral | $3.78B | ― | -81.98% | ― | 20.48% | -44.22% |
* Technology Sector Average
Performance Comparison
CLBT
Cellebrite DI
16.47
-0.49
-2.89%
QLYS
Qualys
134.66
8.95
7.12%
VRNS
Varonis Systems
58.49
2.42
4.32%
RPD
Rapid7
20.67
-17.18
-45.39%
TENB
Tenable Holdings
30.58
-10.95
-26.37%
S
SentinelOne
17.15
-7.11
-29.31%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.