Cellebrite DI Ltd. reports developments in AI-powered digital investigative and intelligence software for public and private sector customers. Its updates cover digital forensics, lawful device access, evidence analysis, investigative collaboration, application security and cloud deployment, including Cellebrite Government Cloud, Guardian Investigate, Genesis and Corellium.
Company news also includes federal cloud-security authorization, product releases, financial results, annual reporting, investor conference participation and product and technology leadership changes. Cellebrite’s software portfolio supports law enforcement agencies, defense and intelligence organizations, enterprises and service providers across cloud, on-premises and hybrid deployments.
Cellebrite (NASDAQ: CLBT) announced that CEO Yossi Carmil will step down from his position and Board of Directors by December 31, 2024. Executive Chairman Thomas E. Hogan will serve as interim CEO while the company conducts a formal search for a new chief executive. Under Carmil's 19-year leadership, Cellebrite grew from 18 to over 1,100 employees, expanded to dozen offices worldwide, and serves approximately 7,000 customers in more than 100 countries. Notable achievements include taking the company public in 2021, transitioning to a subscription business model, and launching the AI-driven Case-to-Closure platform. The company's market valuation has doubled to approximately $4 billion since going public.
Cellebrite (NASDAQ: CLBT) reported strong Q3 2024 results, achieving a milestone of $106.9 million in quarterly revenue, up 27% year-over-year. Subscription revenue grew 27% to $93.4 million, while Annual Recurring Revenue (ARR) reached $370.8 million, up 26% year-over-year. The company reported an Adjusted EBITDA of $31.3 million with a 29.3% margin. Despite posting a GAAP net loss of $207.1 million, non-GAAP net income was $31.8 million. Based on strong performance, Cellebrite increased its 2024 outlook for revenue and adjusted EBITDA, raising the low end of the ARR target range to $390-400 million.
Cellebrite (NASDAQ: CLBT) announced Tim Tebow as the keynote speaker for their inaugural Case-to-Closure (C2C) User Summit scheduled for March 31-April 3, 2025, in Washington, D.C. The summit will gather digital investigation leaders to discuss industry trends and best practices. Tebow will address his foundation's global fight against human trafficking, aligning with Cellebrite's Operation Find Them All initiative. The event will feature over three dozen speakers covering various digital investigative topics, including notable case studies and technological developments. Attendees will have opportunities for networking, professional training, and knowledge expansion across different levels of the investigative process.
Cellebrite (Nasdaq: CLBT), a leader in Digital Investigative solutions, has patented its Remote Mobile Collection technology. This innovation, available in Cellebrite's SaaS platforms Endpoint Mobile Now and Endpoint Inspector, enables corporate investigators to perform immediate, targeted remote data collection from mobile devices.
Key benefits include:
- Time and cost savings for businesses
- Faster device access and analysis
- Convenience for device owners, who can retain their devices during collection
- Ability to collect data from multiple devices simultaneously
- Improved data accessibility with results available within hours
According to Cellebrite's 2024 Industry Trends Survey, 83% of respondents rely on multiple tools for data collection. This patented technology aims to streamline this process, particularly in today's hybrid work environment.
Cellebrite DI (Nasdaq: CLBT) has announced the results of its completed redemption of all outstanding warrants. Key points include:
- 99.4% of outstanding Public Warrants were exercised, with 4,645 exercised for cash and 19,878,580 exercised cashlessly.
- 116,224 unexercised Public Warrants were redeemed for $11,622.40.
- All 9,666,667 Private Placement Warrants were exercised cashlessly.
- Public Warrants have stopped trading on Nasdaq and been delisted.
- The redemption does not affect the trading of Cellebrite's Ordinary Shares (CLBT).
Cellebrite (Nasdaq: CLBT) has announced the availability of Pathfinder in the Cloud with Amazon Web Services (AWS), enhancing its investigative analytics solution for law enforcement agencies. This cloud-based offering allows customers to access Pathfinder through Amazon's secure Virtual Private Cloud (VPC), providing flexible deployment options and scalable resources.
Key features of Pathfinder include AI-driven data analysis, slang identification, explicit image categorization, Optical Character Recognition (OCR), and Automated Translation Services. The cloud deployment eliminates the need for physical servers and secure rooms, offering cost-effective scaling, rapid resource commissioning, and high availability.
This update aims to accelerate digital evidence analysis, reduce investigation time, and improve case resolution efficiency for law enforcement agencies of all sizes.
Cellebrite DI (Nasdaq: CLBT) has announced the 'Redemption Fair Market Value' for its previously announced warrant redemption. The company will redeem all outstanding warrants at $0.10 per warrant on September 16, 2024. Warrant holders can exercise their warrants for cash at $11.50 per Ordinary Share or on a 'cashless basis' before the redemption date. Based on the Redemption Fair Market Value of $16.72, holders exercising warrants on a cashless basis will receive 0.342 Ordinary Shares per Warrant.
The company has obtained a ruling from Israeli Tax Authorities exempting certain qualified holders from potential tax withholding upon share issuance. Unexercised warrants after the redemption date will be void. The last trading day for Public Warrants on Nasdaq will be September 13, 2024.
Cellebrite (NASDAQ: CLBT) announced its second-quarter 2024 financial results with revenue of $95.7 million, marking a 25% year-over-year increase due to a 27% growth in subscription revenue. The company reported an Annual Recurring Revenue (ARR) of $345.9 million, up 26% YoY, and an adjusted EBITDA of $21.6 million with a 22.6% margin.
GAAP net loss was $23.8 million, while non-GAAP net income was $22.9 million. The company also raised its 2024 outlook for revenue and adjusted EBITDA, forecasting full-year revenue between $390 million and $398 million and adjusted EBITDA between $90 million and $95 million.
Cellebrite expanded its operations by forming Cellebrite Federal Solutions and acquiring Cyber Technology Services, Inc. Additionally, it partnered with Relativity to enhance mobile device collection and processing solutions. The company also announced the redemption of 30 million outstanding warrants and the issuance of 5 million Price Adjustment Shares.
Cellebrite DI (Nasdaq: CLBT) has announced the redemption of all outstanding warrants to purchase ordinary shares at $0.10 per warrant, effective September 16, 2024. This includes public and private placement warrants. Warrantholders can choose to exercise their warrants for cash at $11.50 per share or surrender them on a 'cashless basis' before the redemption date. The company has obtained a ruling from Israeli Tax Authorities exempting certain qualified holders from potential tax withholding upon share issuance. Unexercised warrants after the redemption date will be void. The last trading day for public warrants on Nasdaq is expected to be September 13, 2024.
Cellebrite (NASDAQ: CLBT), a leader in digital investigative solutions, has appointed Troy K. Richardson to its Board of Directors. Richardson, a tech veteran with over 30 years of experience, brings significant operational and sales expertise from leading technology companies. He currently serves on the Unisys Board and previously held senior roles at PTC, DXC, Oracle, SAP, HP, Novell, and IBM. With Richardson's addition, Cellebrite's board now consists of 10 directors.
Thomas Hogan, Executive Chairman, expressed enthusiasm about Richardson's appointment, highlighting his deep knowledge of the software industry and broad leadership experience. Richardson stated his excitement to join Cellebrite, praising the company's leadership position in digital investigation and intelligence gathering, as well as its culture of innovation and social responsibility.