Shares of Cellebrite (NASDAQ: CLBT), a leader in digital investigation solutions, plunged 5% in pre-market trading on Thursday following the company's second-quarter earnings release and revised full-year guidance. Despite beating analyst expectations for the quarter, the company's lowered outlook for 2025 appears to have disappointed investors.

Cellebrite reported Q2 revenue of $113.3 million, surpassing the consensus estimate of $112.2 million. The company's adjusted EBITDA of $27.9 million also exceeded expectations of $27 million. However, net income came in at $19.5 million, falling short of the $25.4 million analysts had projected. The mixed results were overshadowed by Cellebrite's decision to lower its full-year 2025 revenue guidance to a range of $465 million to $475 million, down from its previous forecast of $470 million to $485 million.

In conjunction with the earnings report, Cellebrite announced the appointment of Thomas E. Hogan as CEO, effective immediately. Hogan, who had been serving as interim CEO since January 2025, brings over 40 years of technology and software industry experience to the role. While this leadership stability might typically be viewed positively, it appears that investors are more focused on the company's tempered growth expectations for the year, leading to the sharp pre-market decline.