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Cellebrite DI (CLBT)
NASDAQ:CLBT
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Cellebrite DI
(NASDAQ:CLBT)
Rating:63Neutral
Price Target:
$17.50
▲(7.30%Upside)
Positive Factors
Acquisition
Cellebrite announced an agreement to acquire Corellium for $170 Million in Cash, broadening its TAM for both the Public & Private sectors.
Product Development
Cellebrite is developing a more powerful digital twins tool with Corellium for law enforcement called Mirror.
Negative Factors
Financial Guidance
Cellebrite issued second-quarter guidance below consensus, citing delays in closing U.S. federal deals related to the administration change and the budget continuing resolution.
Revenue 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
$3.89B
Dividend YieldN/A
Average Volume (3M)1.43M
Price to Earnings (P/E)―
Beta (1Y)1.02
Revenue Growth22.04%
EPS Growth-65.97%
CountryUS
Employees1,167
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.07
Shares Outstanding239,470,060
10 Day Avg. Volume1,398,756
30 Day Avg. Volume1,426,185
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)30.73
Price to Sales (P/S)0.00
P/FCF Ratio182.19
Enterprise Value/Market Cap0.45
Enterprise Value/Revenue1.10
Enterprise Value/Gross Profit4.91
Enterprise Value/Ebitda36.21
Forecast
1Y Price Target
$23.25Price Target Upside42.55% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
Cellebrite DI Business Overview & Revenue Model
Company DescriptionCellebrite DI (CLBT) is a leading digital intelligence company specializing in providing comprehensive solutions for lawful digital investigations. Operating primarily in the sectors of law enforcement, government, and enterprise, Cellebrite offers a suite of products designed to collect, review, analyze, and manage digital data. These tools enable agencies and organizations worldwide to transform digital information into actionable intelligence, addressing challenges related to criminal investigations, cybersecurity, and data privacy.
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:May 14, 2025
(Q1-2025)
| % Change Since: -18.94%|
Next Earnings Date:Aug 06, 2025
Earnings Call Sentiment Neutral
Cellebrite showed strong growth in several key areas, including ARR and specific product lines like Guardian, and hosted successful events and product releases. However, challenges in the U.S. Federal and EMEA markets moderated some of the positive impacts. Despite these challenges, the company remains optimistic about future growth, particularly in the second half of the year.Q1-2025 Updates
Positive Updates
Strong ARR and Revenue Growth
Cellebrite delivered a 23% year-on-year ARR growth, reaching $408 million, and a 20% increase in revenue to $107.5 million for the first quarter of 2025.
Significant Growth in Guardian Product
Guardian achieved its third consecutive quarter of over 100% ARR growth, reflecting strong adoption and interest in this product.
Successful User Conference and Product Release
Cellebrite hosted its first user conference with around 700 attendees and launched the Spring 2025 product release, featuring cloud and AI innovations.
U.S. State and Local, LATAM and Asia Pacific Growth
Cellebrite saw strong performance and momentum in the U.S. state and local, LATAM, and Asia Pacific regions.
Robust Financial Performance
The company achieved a 34% year-on-year growth in adjusted EBITDA, resulting in a 22% margin.
Negative Updates
U.S. Federal Market Challenges
There were modest shortfalls in the U.S. Federal segment due to spending constraints, impacting the company's revenue expectations.
EMEA Market Weakness
EMEA experienced a 15% ARR growth but faced challenges with order timing and spending headwinds.
Pressure on Professional Services Revenue
There was near-term pressure on one-time professional services revenue from U.S. federal agencies, contributing to adjusted revenue guidance.
Company Guidance
During the Cellebrite First Quarter 2025 Financial Results Conference Call, the company reported a strong 23% year-on-year growth in Annual Recurring Revenue (ARR), reaching $408 million, and a 34% increase in adjusted EBITDA, resulting in a 22% margin. The first quarter revenue amounted to $107.5 million, marking a 20% year-over-year increase, primarily driven by a 21% rise in subscription revenue. The gross retention rate held steady at 92%, with notable retention in the U.S. and Asia Pacific regions. Despite challenges in the U.S. Federal and EMEA sectors, the company remains optimistic about future growth, projecting second quarter ARR between $416 million to $426 million, and revenue of $110 million to $116 million. The full-year guidance remains unchanged, anticipating continued expansion, especially in the U.S. state and local, Latin America, and Asia Pacific markets. The firm highlighted an ongoing focus on strategic areas like Guardian and Pathfinder solutions, with Guardian achieving over 100% ARR growth for three consecutive quarters.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
Negative
16.31
Price Trends
17.65
Negative
18.70
Negative
19.20
Negative
Market Momentum
-0.43
Negative
38.54
Neutral
68.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLBT, the sentiment is Negative. The current price of 16.31 is above the 20-day moving average (MA) of 16.23, below the 50-day MA of 17.65, and below the 200-day MA of 19.20, indicating a bearish trend. The MACD of -0.43 indicates Negative momentum. The RSI at 38.54 is Neutral, neither overbought nor oversold. The STOCH value of 68.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CLBT.
Cellebrite DI Peers Comparison
Overall Rating
UnderperformOutperform
Sector (56)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $5.12B | 28.82 | 40.23% | ― | 9.58% | 12.41% | |
65 Neutral | $4.10B | ― | -12.09% | ― | 11.79% | 35.35% | |
64 Neutral | $5.63B | ― | -22.21% | ― | 13.34% | 13.71% | |
64 Neutral | $5.90B | ― | -26.98% | ― | 32.25% | 20.56% | |
63 Neutral | $3.89B | ― | -115.35% | ― | 22.04% | -65.97% | |
62 Neutral | $1.46B | 56.86 | 164.75% | ― | 6.19% | ― | |
56 Neutral | $3.16B | 4.94 | -5.68% | 5.95% | 7.96% | -51.05% |
* Technology Sector Average
Performance Comparison
CLBT
Cellebrite DI
15.83
3.69
30.40%
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141.03
-1.25
-0.88%
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50.26
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RPD
Rapid7
22.70
-20.47
-47.42%
TENB
Tenable Holdings
32.80
-10.09
-23.53%
S
SentinelOne
17.85
-2.51
-12.33%
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.