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.
True Wind Capital announced the appointment of Scott Wagner as Head of Strategic Capital on July 15, 2021. Wagner, with nearly 30 years of experience, previously served as CEO at GoDaddy, where revenue grew from $800 million to $3 billion. He has been involved with True Wind's SPACs, including NEBC and TWCTU. His leadership is expected to enhance True Wind's operations within the SPAC sector, which continues to be vital for growth opportunities in technology markets. Notably, True Wind's first SPAC, LPRO, saw shares appreciate over 300% since its merger.
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.