Cellebrite DI (CLBT) AI Stock Analysis

• Market Cap: $3.02B
• Dividend Yield: N/A
• Average Volume (3M): 2.06M
• Price to Earnings (P/E): 43.8
• Beta (1Y): 0.80
• Revenue Growth: 18.37%
• EPS Growth: N/A
• Country: US
• Employees: 1,167
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): 0.08
• Shares Outstanding: 239,470,060
• 10 Day Avg. Volume: 2,415,735
• 30 Day Avg. Volume: 2,055,944
• PEG Ratio: -0.47
• Price to Book (P/B): 9.41
• Price to Sales (P/S): 9.58
• P/FCF Ratio: 29.25
• Enterprise Value/Market Cap: 1.08
• Enterprise Value/Revenue: 6.84
• Enterprise Value/Gross Profit: 8.12
• Enterprise Value/Ebitda: 38.88
• 1Y Price Target: $20.67
• Price Target Upside: 63.66% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): 0.39
• Revenue Forecast (FY): $568.48M

• Rating: 73 Outperform
• Price Target: $13.50 ▲(6.89% Upside)
• Action: Upgraded Date: 02/12/26
• Date: Action: Upgraded 02/12/26

The score is driven primarily by strong cash flow and a strengthened, low-debt balance sheet, reinforced by upbeat FY2026 guidance for growth, profitability, and >30% free-cash-flow margins. This is tempered by weak technicals (price below key moving averages with negative MACD) and a premium P/E that heightens sensitivity to execution and federal/FedRAMP timing and FX risks.

Positive Factors

Strong Free Cash Flow

Sustained, high-margin free cash flow provides durable funding for R&D, cloud investment, and tuck-in M&A without needing debt. High FCF conversion versus earnings (~91% TTM) strengthens liquidity, supports discretionary spend, and reduces reliance on volatile external financing over the medium term.

Conservative Balance Sheet

Very low leverage gives management financial flexibility to invest in product development, absorb acquisition costs, and withstand timing delays (e.g., FedRAMP). A strong equity base reduces solvency risk and preserves optionality for strategic moves over the next several quarters.

Recurring ARR and SaaS Momentum

High and growing recurring ARR, plus rapid SaaS/cloud and Guardian adoption, strengthens revenue predictability and long-term margin profile. Cloud mix expansion and >50% SaaS ARR growth amplify lifetime customer value and create sticky revenue that should support durable profitability and FCF.

Negative Factors

FedRAMP / Federal Timing Risk

Dependence on federal certifications creates multi-quarter timing risk: delays impede cloud/Guardian adoption in a core customer segment, deferring ARR and margin expansion. Because government customers are strategic, protracted approval cycles can structurally slow growth and elongate payback on product investments.

Earnings Volatility / Prior Losses

Historic swings to large net losses in recent years show operating leverage and one-off items can materially affect profitability. This earnings volatility raises execution risk for maintaining target margins and makes forward results sensitive to integration, FX, and federal timing over the next several quarters.

Acquisition Cash Use & Integration Impact

Material cash deployed to buy Keryllium and smaller tuck-ins increases near-term capital commitments and integration burden. Upfront cash use plus short-term margin compression from acquisition-related costs can constrain reinvestment pace and raise execution risk until realized synergies and ARR accretion materialize.

Cellebrite DI Business Overview & Revenue Model

Company Description

Cellebrite 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 Money

Cellebrite generates revenue primarily through the sale of its software and hardware products, including digital extraction devices and analytics tools. The company employs a subscription model for its software services, which provides ongoing revenue through annual licenses and renewals. Additionally, Cellebrite benefits from training and support services offered to its clients, which further contribute to its revenue streams. Key partnerships with government agencies, law enforcement bodies, and enterprises enhance its market presence, while the increasing demand for digital forensics solutions in various sectors, including cybersecurity, also drives its earnings.

Cellebrite DI Financial Statement Overview

Summary

Strong cash generation (TTM operating cash flow ~$174M; free cash flow ~$160M, ~34% FY2025 FCF margin) and a conservative balance sheet (low debt vs. sizable equity) are major positives. Offsetting this is historically volatile net income/returns (notably 2023–2024 losses) despite steady multi-year revenue growth and consistently high gross margins.

Income Statement

TTM (Trailing-Twelve-Months) shows strong profitability with ~84% gross margin and ~17% net margin, and revenue up ~4.3%. The multi-year top-line trend is solid (2020–TTM: ~$195M to ~$476M). However, earnings have been volatile—large net losses in 2023 and 2024 before returning to profitability in TTM—suggesting uneven cost/one-time item impacts despite consistently high gross margins.

Balance Sheet

Leverage is very conservative in TTM, with low debt (~$22.7M) against sizable equity (~$484.3M), supporting financial flexibility. Asset and equity growth improved meaningfully versus prior years, and TTM return on equity is healthy (~19.6%). Key risk is historical equity/return volatility (including negative equity in 2021 and very weak returns in 2023–2024), which points to prior balance sheet instability that appears improved but is worth monitoring.

Cash Flow

Cash generation is a standout: TTM operating cash flow (~$174M) and free cash flow (~$160M) are strong, with free cash flow up ~15%. Free cash flow conversion versus earnings is solid (free cash flow running at ~91% of net income in TTM), and cash flow has remained positive even during loss-making years, indicating resilient underlying cash profitability. The main weakness is variability over time (e.g., weaker cash generation relative to earnings in 2022).

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	475.68M	401.20M	325.11M	270.65M	246.25M
Gross Profit	400.50M	338.61M	271.88M	219.91M	203.69M
EBITDA	78.35M	67.51M	-64.80M	130.10M	89.47M
Net Income	78.33M	-283.01M	-81.10M	120.81M	71.40M
Balance Sheet
Total Assets	938.85M	690.57M	532.88M	403.29M	339.78M
Cash, Cash Equivalents and Short-Term Investments	437.05M	447.22M	302.92M	183.62M	181.56M
Total Debt	22.67M	10.97M	14.13M	15.36M	0.00
Total Liabilities	454.53M	354.55M	498.67M	329.43M	413.13M
Stockholders Equity	484.32M	336.02M	34.21M	73.86M	-73.35M
Cash Flow
Free Cash Flow	155.73M	121.56M	94.14M	11.49M	27.94M
Operating Cash Flow	168.96M	132.17M	102.06M	20.58M	36.05M
Investing Cash Flow	-268.25M	-149.47M	-22.54M	-91.23M	45.23M
Financing Cash Flow	29.64M	20.65M	21.77M	13.97M	-68.40M

Cellebrite DI Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 12.63
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: 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 12.63 is below the 20-day moving average (MA) of 14.13, below the 50-day MA of 16.36, and below the 200-day MA of 16.60, indicating a bearish trend. The MACD of -0.91 indicates Positive momentum. The RSI at 43.44 is Neutral, neither overbought nor oversold. The STOCH value of 31.72 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CLBT	73 Outperform	$3.02B	43.78	19.10%	―	18.37%	―
EVTC	70 Outperform	$1.61B	11.17	25.05%	0.68%	9.67%	75.67%
RDWR	69 Neutral	$970.54M	50.78	6.09%	―	10.40%	―
TUYA	67 Neutral	$1.39B	31.97	4.87%	4.71%	13.36%	―
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
TENB	60 Neutral	$2.18B	-63.29	-9.95%	―	11.05%	45.23%
VRNS	54 Neutral	$2.55B	―	-24.53%	―	11.37%	-34.44%

Cellebrite DI Corporate Events

Cellebrite Completes Acquisition of Corellium, Enhancing Digital Investigation Platform

On December 1, 2025, Cellebrite DI Ltd. completed its acquisition of Corellium, a leader in Arm-based virtualization software, significantly enhancing its digital investigation capabilities. This acquisition strengthens Cellebrite’s market position by integrating Corellium’s virtualization technology, which enhances digital forensics, investigations, analytics, and intelligence. The merger is expected to benefit a wide range of customers, including defense and intelligence sectors, by providing advanced virtualization for secure mobile application development and operational testing. The acquisition was completed with an enterprise value of $170 million, with additional performance-based payments possible. The Committee on Foreign Investment in the United States has permitted the acquisition to close, pending formal clearance.

The most recent analyst rating on (CLBT) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on Cellebrite DI stock, see the CLBT Stock Forecast page.