Cellebrite reported strong financial results for Q2 2021, with a revenue increase of 29% year-over-year, totaling $59.2 million. Annual Recurring Revenue (ARR) reached $159 million, up 46%, with a net retention rate of 142%. Gross profit stood at $49.1 million, reflecting an 83% gross margin. The company anticipates completing its merger with TWC Tech Holdings II Corp soon, aiming to enhance growth opportunities in public and private sectors. Key developments included launching Premium Enterprise and establishing a strategic partnership with Singapore's HTX.
Cellebrite DI Ltd. has announced that the SEC has declared effective its Registration Statement on Form F-4 related to its business combination with TWC Tech Holdings II Corp. (TWCT). A special meeting for TWC stockholders is scheduled for August 27, 2021, to approve the combination. If approved, Cellebrite will list its shares on Nasdaq under the ticker symbols 'CLBT' and 'CLBTW'. Investors should review the proxy statement for vital details about the transaction and voting process.
Cellebrite reported strong financial results for Q1 2021, with revenue reaching $53.3 million, a 38% increase year-over-year. The company's Annual Recurring Revenue (ARR) grew by 53% to $150 million, with a dollar-based net retention rate of 148%. Gross profit stood at $45.1 million, representing an 85% gross margin. The business combination with TWC Tech Holdings II Corp. is set to enhance Cellebrite's growth trajectory, with an expected pro forma equity value of $2.4 billion.
Cellebrite DI Ltd. announced the filing of a registration statement with the U.S. SEC concerning its planned merger with TWC Tech Holdings II Corp. (ticker: TWCT). This follows the previously disclosed intention for a business combination, which is expected to close in Q2 or Q3 2021, pending shareholder approvals. Upon completion, Cellebrite aims to list its shares on Nasdaq under the ticker CLBT. This process is contingent on the effectiveness of the registration statement and other standard closure conditions.
Cellebrite DI Ltd. is set to become publicly traded on Nasdaq through a merger with TWC Tech Holdings II Corp. (TWCT). The transaction, valued at approximately $2.4 billion, is expected to provide up to $480 million in cash proceeds to Cellebrite. Projected revenues for 2022 are about $283 million with gross margins of 81%. The merger aims to bolster growth in public and private sectors, leveraging a total addressable market of $12 billion by 2023. Closing is anticipated in Q2 or Q3 2021, subject to stockholder approvals.