Cellebrite Announces Record Fourth-Quarter and Full-Year 2025 Results

Rhea-AI Summary

Cellebrite (NASDAQ: CLBT) reported record fourth-quarter and full-year 2025 results with Q4 revenue $128.8M (+18% YoY), total ARR $480.8M (+21% YoY) and FY revenue $475.7M (+19% YoY). Non-GAAP net income was $130.5M for FY2025 and adjusted EBITDA was $38.3M in Q4 (29.8% margin) and $127.6M for the year (26.8% margin). The company completed the acquisition of Corellium on Dec 1, 2025 (adding $16.1M ARR) and announced an agreement to acquire SCG Canada for drone forensics. 2026 guidance targets ARR of $567M–$573M and revenue of $565M–$571M.

Positive

• Total ARR +21% to $480.8M in 2025
• Q4 revenue +18% to $128.8M
• FY revenue +19% to $475.7M
• Adjusted EBITDA margin of 29.8% in Q4 (Adjusted EBITDA $38.3M)
• Non-GAAP net income $130.5M for FY2025
• 2026 guidance: ARR $567M–$573M and revenue $565M–$571M

Negative

• Organic ARR growth 17% excluding Corellium's $16.1M ARR
• Company cites a challenging U.S. Federal spending environment as a headwind
• First-quarter 2026 adjusted EBITDA margin guidance (21%–22%) is below Q4 margin

Key Figures

Q4 2025 revenue: $128.8M Q4 2025 ARR: $480.8M Q4 2025 GAAP net income: $21.3M +5 more

8 metrics

Q4 2025 revenue $128.8M Fourth-quarter 2025, up 18% year-over-year

Q4 2025 ARR $480.8M Total ARR, up 21% year-over-year

Q4 2025 GAAP net income $21.3M Fourth-quarter 2025 GAAP net income

Q4 2025 adjusted EBITDA $38.3M (29.8% margin) Fourth-quarter 2025 adjusted EBITDA and margin

FY 2025 revenue $475.7M Full-year 2025, up 19% year-over-year

FY 2025 GAAP net income $78.3M Full-year 2025 GAAP net income

FY 2025 adjusted EBITDA $127.6M (26.8% margin) Full-year 2025 adjusted EBITDA and margin

FY 2026 ARR guidance $567M–$573M Full-year 2026 ARR outlook, 18%–19% growth

Market Reality Check

Price: $14.26 Vol: Volume 2,253,837 is about...

normal vol

$14.26 Last Close

Volume Volume 2,253,837 is about 1.13x the 20-day average of 1,988,217 shares, indicating moderately elevated interest ahead of the results. normal

Technical Shares at $14.94 are trading below the 200-day MA of $16.91 and about 42% under the 52-week high.

Peers on Argus

CLBT was up about 2% pre-news while peers were mixed: QLYS +3.39%, PAY +0.6%, bu...

CLBT was up about 2% pre-news while peers were mixed: QLYS +3.39%, PAY +0.6%, but AVPT, BOX, and CALX were negative. This points to a stock-specific reaction rather than a broad software move.

Historical Context

5 past events · Latest: Feb 05 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 05	Industry trends report	Positive	-2.6%	Released 2026 Industry Trends Report showing strong smartphone and AI-driven demand.
Jan 21	Earnings date notice	Neutral	-3.9%	Announced timing of Q4 2025 earnings release and conference call details.
Dec 02	Corellium acquisition	Positive	+3.9%	Closed $170M Corellium deal to extend AI-powered digital investigation platform.
Nov 12	Q3 2025 results	Positive	+1.7%	Reported double-digit ARR and revenue growth with strong margins and reiterated guidance.
Oct 30	Executive appointment	Neutral	-1.3%	Named new General Counsel and Chief Compliance Officer to oversee global legal matters.

Pattern Detected

Recent news has mostly seen price moves align with sentiment; a single positive industry report drew a negative reaction.

Recent Company History

Over the last several months, Cellebrite’s newsflow has highlighted steady execution and strategic expansion. Q3 2025 results on Nov 12, 2025 showed ARR of $439.8M and revenue of $126.0M with strong subscription growth, prompting a modest gain. The Dec 2, 2025 Corellium acquisition added an AI-focused capability and coincided with a stronger positive move. More routine items, like the Feb 11, 2026 earnings-date notice and the Oct 30, 2025 general counsel appointment, drew small declines, while the Feb 5, 2026 Industry Trends Report sold off despite showcasing robust Guardian adoption.

Market Pulse Summary

This announcement combines record Q4 and full-year 2025 results with detailed 2026 guidance and a bo...

Analysis

This announcement combines record Q4 and full-year 2025 results with detailed 2026 guidance and a bolt-on drone forensics acquisition. Key metrics include Q4 revenue of $128.8M, ARR of $480.8M, and full-year adjusted EBITDA of $127.6M. Management also outlined ARR and revenue targets for 2026 and highlighted expanding AI capabilities and Guardian Investigate. Investors may focus on sustaining high-teens ARR growth, execution on Corellium and SCG Canada integration, and whether margins near the 26%–27% range are maintained.

Key Terms

annual recurring revenue, dollar-based net retention rate, adjusted EBITDA, free cash flow, +4 more

8 terms

annual recurring revenue financial

"Total Annual Recurring Revenue (ARR) of $480.8 million, up 21% year-over-year"

Annual recurring revenue is the predictable amount of money a company expects to earn each year from ongoing customer subscriptions or contracts. It helps businesses understand how much steady income they can count on, much like a subscription service that charges customers every month or year. This figure is important because it shows the company's stability and growth potential.

dollar-based net retention rate financial

"Recurring revenue dollar-based net retention rate of 116%"

Dollar-based net retention rate measures how much recurring revenue a company keeps and grows from its existing customers over a set period, after accounting for upgrades, downgrades, and churn. Think of it like checking whether a group of current customers are spending more, the same, or less this year compared with last year; investors use it as a thermometer for revenue health and the business’s ability to expand sales without finding new customers.

adjusted EBITDA financial

"Adjusted EBITDA and Adjusted EBITDA margin of $38.3 million and 29.8%, respectively"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

free cash flow financial

"outstanding free cash flow is a direct byproduct of the value of our platform"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

unmanned aerial vehicles (UAVs) technical

"solutions that enables access to dozens of the most common Unmanned Aerial Vehicles (UAVs)"

Unmanned aerial vehicles (UAVs), often called drones, are aircraft operated without a person on board and controlled remotely or autonomously; think of them as motorized, flying robots or remote‑control planes. They matter to investors because they enable new revenue streams and cost savings across industries—such as deliveries, mapping, inspections and surveillance—while also bringing regulatory, safety and liability risks that can affect a company’s growth and profitability.

open-source intelligence technical

"from digital forensics data, video, call detail records, and open-source intelligence to case records"

Open-source intelligence is the practice of gathering useful information from publicly available sources—like news articles, social media posts, government filings, patent databases, satellite imagery, and web archives—and assembling it to form a clearer picture of a company, market, or event. For investors it matters because these public clues can reveal risks and opportunities (for example supply-chain problems, regulatory issues, or shifts in demand) earlier than formal reports—like finding puzzle pieces that help you judge whether an investment story is true or shaky.

generative AI technical

"advance the Company's machine learning models, generative AI features and agentic AI capabilities"

Generative AI is a type of computer technology that can create new content, like text, images, or music, on its own. It’s important because it can produce realistic and useful material quickly, which could change how we create art, write stories, or even develop new products. Think of it as a smart robot that can invent and produce things almost like a human.

agentic AI technical

"advance the Company's machine learning models, generative AI features and agentic AI capabilities"

Agentic AI refers to computer systems that can make their own decisions and take actions without needing someone to tell them what to do each time. It's like giving a robot a degree of independence to solve problems or achieve goals on its own, which matters because it could change how we work and interact with technology in everyday life.

AI-generated analysis. Not financial advice.

Total ARR grew 21% to $480.8 million; Revenue grew 18% to $128.8 million

Net 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 Highlights

• Revenue of $128.8 million, up 18% year-over-year
• Subscription revenue was $115.5 million, up 21% year-over-year
• Total Annual Recurring Revenue (ARR) of $480.8 million, up 21% year-over-year
  • Total 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%, respectively
• GAAP net income of $21.3 million; Non-GAAP net income of $36.7 million
• GAAP diluted earnings per share of $0.08; Non-GAAP diluted earnings per share of $0.14
• Adjusted EBITDA and Adjusted EBITDA margin of $38.3 million and 29.8%, respectively

Full-Year 2025 Financial Highlights

• Revenue of $475.7 million, up 19% year-over-year
• Subscription revenue was $427.0 million, a 21% year-over-year increase
• GAAP 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%, respectively
• GAAP net income of $78.3 million; Non-GAAP net income of $130.5 million
• GAAP diluted earnings per share of $0.31; Non-GAAP diluted earnings per share of $0.51
• Adjusted EBITDA and adjusted EBITDA margin of $127.6 million and 26.8%, respectively

Recent Business Highlights

Cellebrite to Acquire SCG Canada, Adding Leading Portable Drone Forensics Capability

• Cellebrite 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.

Innovation

• Digital 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-Market

• On 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 Outlook

David 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 million
Annual Growth		20% - 21%		18% - 19%
Revenue		$126 million - $128 million		$565 million - $571 million
Annual Growth		18% - 20%		19% - 20%
Adjusted EBITDA		$26 million - $28 million		$149 million - $155 million
Adjusted 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, 2026
Time:		8:30 a.m. ET
Call-In Number:		203-518-9814 / 800-274-8461
Conference ID:		CLBTQ425
Event URL:		https://investors.cellebrite.com/events/event-details/cellebrite-q4-2025-financial-results-conference-call-webcast
Webcast URL:		https://edge.media-server.com/mmc/p/v9sjjqnr

In 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; and
• Financial 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
+1 973.206.7760

Media
Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910

Cellebrite 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
Revenue	128,821		109,049		475,675		401,203
Gross profit	109,130		91,425		400,503		338,610
Gross margin	84.7 %		83.8 %		84.2 %		84.4 %
Operating income	20,805		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 activities	86,811		65,967		173,544		132,171
Non-GAAP Financial Data:
Operating income	36,498		26,928		120,663		92,119
Operating margin	28.3 %		24.7 %		25.4 %		23.0 %
Net income	36,694		26,123		130,506		97,761
Adjusted EBITDA	38,331		28,793		127,631		99,377
Adjusted EBITDA margin	29.8 %		26.4 %		26.8 %		24.8 %

 

Cellebrite DI Ltd.  Condensed Consolidated Balance Sheets (U.S. Dollars in thousands)
		December 31,		December 31,
		2025		2024
Assets
Current assets
Cash and cash equivalents		$            124,457		$            191,659
Short-term deposits		161,049		153,746
Marketable securities		151,544		101,818
Trade receivables (net of allowance for credit losses of $506 and $594 as of December 31, 2025 and December 31, 2024, respectively)		104,972		82,358
Prepaid expenses and other current assets		19,630		23,246
Contract acquisition costs		6,595		5,827
Inventories		7,603		8,939
Total current assets		575,850		567,593
Non-current assets
Other non-current assets		14,618		7,682
Marketable securities		97,959		36,601
Deferred tax assets, net		10,880		11,072
Property and equipment, net		22,209		16,995
Operating lease right-of-use assets, net		16,308		10,604
Intangible assets, net		81,469		11,306
Goodwill		119,559		28,714
Total non-current assets		363,002		122,974
Total assets		$            938,852		$            690,567
Liabilities and shareholders' equity
Current Liabilities
Trade payables		$              16,834		$               11,077
Other accounts payable and accrued expenses		71,244		63,330
Deferred revenues		277,583		216,970
Operating lease liabilities		3,996		4,125
Total current liabilities		369,657		295,502
Long-term liabilities
Other long-term liabilities		16,677		6,954
Deferred revenues		49,526		45,247
Operating lease liabilities		18,674		6,844
Total long-term liabilities		84,877		59,045
Total liabilities		454,534		354,547
Shareholders' equity
Share capital		*)		*)
Additional paid-in capital		568,721		498,883
Treasury share, NIS 0.00001 par value; 41,776 ordinary shares		(85)		(85)
Accumulated other comprehensive income		2,220		2,086
Accumulated deficit		(86,538)		(164,864)
Total shareholders' equity		484,318		336,020
Total 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		$           271,028
Term-license	26,426		21,220		96,245		82,007
Other non-recurring	4,564		6,293		17,771		17,285
Professional services	8,763		7,688		30,894		30,883
Total revenue	128,821		109,049		475,675		401,203
Cost of revenue:
Subscription services	10,502		7,156		37,461		26,004
Term-license	87		—		87		—
Other non-recurring	4,327		4,865		15,617		16,200
Professional services	4,775		5,603		22,007		20,389
Total 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 development	29,865		25,599		113,877		98,415
Sales and marketing	38,561		35,524		154,814		132,389
General and administrative	19,899		14,575		65,332		50,900
Total operating expenses	$             88,325		$             75,698		$           334,023		$           281,704
Operating income	$             20,805		$             15,727		$             66,480		$             56,906
Financial income (expense), net	5,466		4,170		24,198		(332,890)
Income (loss) before tax	26,271		19,897		90,678		(275,984)
Tax expense	5,010		628		12,352		7,023
Net 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
Basic	245,282,244		233,248,045		241,626,316		209,471,827
Diluted	251,501,118		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 securities	16		(411)		317		113
Currency translation adjustments	122		1,820		(1,298)		1,410
Total other comprehensive (loss) income, net of tax	(239)		1,670		134		1,036
Total 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		30,575
Amortization of premium, discount and accrued interest on marketable securities		(158)		(866)		(2,371)		(2,904)
Depreciation and amortization		3,941		2,729		11,867		10,607
Disposal 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		—		—		—		110,664
Remeasurement of Restricted Sponsor Shares liability		—		—		—		65,889
Remeasurement of Price Adjustment Shares liability		—		—		—		173,051
Decrease (increase) in trade receivables		4,654		10,263		(15,781)		(5,829)
Increase in deferred revenue		33,156		17,255		49,768		22,317
Increase 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		3,201
Changes in operating lease right-of-use assets		1,162		1,450		4,585		5,335
Changes in operating lease liability		3,150		(1,278)		547		(4,839)
Decrease in inventories		1,284		746		1,632		982
Decrease in trade payables		5,442		3,917		4,943		2,755
Increase 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)		880
Net 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		59,971
Proceeds 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		138,702
Net 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		17,265
Proceeds from Employee Share Purchase Plan		1,318		974		4,956		3,344
Exercise of Warrants		—		—		—		53
Redemption 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)		3,349
Net 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		189,517
Cash 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)		$             7,706
Non-cash activities
Operating lease liabilities arising from obtaining right-of- use assets		$              (1,987)		$                     53		$           11,154		$             1,884
Reclassification and exercise of public and private Warrants		$                      —		$                      —		$                   —		$         164,770
Reclassification and release of Restricted Sponsor Shares		$                      —		$                      —		$                   —		$         113,136
Reclassification 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		$          62,593
Less:
Share-based compensation	775		575		3,180		2,227
Amortization of intangible assets	881		—		881		—
Acquisition-related costs	—		—		—		2
Non-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		$        338,610
Share-based compensation	775		575		3,180		2,227
Amortization of intangible assets	881		—		881		—
Acquisition-related costs	—		—		—		2
Non-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		$        281,704
Less:
Share-based compensation	11,222		8,694		41,712		28,348
Amortization of intangible assets	1,227		864		4,018		3,349
Acquisition-related costs	1,588		—		3,818		219
Executive severance costs	—		1,068		574		1,068
Non-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		$          56,906
Share-based compensation	11,997		9,269		44,892		30,575
Amortization of intangible assets	2,108		864		4,899		3,349
Acquisition-related costs	1,588		—		3,818		221
Executive severance costs	—		1,068		574		1,068
Non-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		30,575
Amortization of intangible assets	2,108		864		4,899		3,349
Acquisition-related costs	1,588		—		3,818		221
Executive severance costs	—		1,068		574		1,068
Tax income	(260)		(4,347)		(2,003)		(4,049)
Finance expense from financial derivatives	—		—		—		349,604
Non-GAAP net income	$          36,694		$          26,123		$        130,506		$          97,761
Non-GAAP Earnings per share:
Basic	$               0.15		$               0.11		$               0.54		$               0.45
Diluted	$               0.14		$               0.10		$               0.51		$               0.42
Weighted average shares outstanding:
Basic	245,282,244		233,248,045		241,626,316		209,471,827
Diluted	257,274,507		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)		332,890
Tax expense	5,010		628		12,352		7,023
Share-based compensation	11,997		9,269		44,892		30,575
Amortization of intangible assets	2,108		864		4,899		3,349
Acquisition-related costs	1,588		—		3,818		221
Depreciation expenses	1,833		1,865		6,968		7,258
Executive severance costs	—		1,068		574		1,068
Adjusted 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		$        132,171
Less:
Purchases of property and equipment	(3,956)		(3,178)		(13,225)		(8,566)
Free cash flow	$          82,855		$          62,789		$        160,319		$        123,605
Free cash flow margin	64.3 %		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		$           395,899
ARR related to acquisitions	16,078		—
Organic ARR	$           464,682		$           395,899

 

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SOURCE Cellebrite

FAQ

What were Cellebrite's Q4 2025 results and how did they affect CLBT ARR?

Cellebrite reported Q4 2025 revenue of $128.8M and total ARR of $480.8M. According to the company, ARR rose 21% year-over-year, including $16.1M of ARR from the Dec 1, 2025 Corellium acquisition.

How much revenue did Cellebrite generate in full-year 2025 and what was FY adjusted EBITDA?

Full-year 2025 revenue was $475.7M and adjusted EBITDA was $127.6M. According to the company, FY adjusted EBITDA margin was 26.8% with non-GAAP net income of $130.5M.

What is Cellebrite's 2026 ARR and revenue guidance for CLBT?

Cellebrite expects 2026 ARR of $567M–$573M and revenue of $565M–$571M. According to the company, that guidance implies ARR growth of about 18%–19% and revenue growth near 19%–20%.

How did the Corellium acquisition impact Cellebrite's ARR in 2025 for CLBT?

Corellium added $16.1M to Cellebrite's total ARR reported at year-end 2025. According to the company, excluding Corellium, organic ARR grew 17% to $464.7M.

What operational risks did Cellebrite cite that could affect CLBT results in 2026?

Management noted a challenging U.S. Federal spending environment and transitory unfavorable foreign exchange impacts. According to the company, these factors could temper near-term growth despite positive long-term opportunities.

What strategic moves did Cellebrite announce to expand forensic capabilities for CLBT shareholders?

Cellebrite announced an agreement to acquire SCG Canada to add portable drone forensics and completed the Corellium acquisition. According to the company, these moves broaden multi-source forensic capabilities and product portfolio.