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 /CNW/ -- Cellebrite $(CLBT)$, 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 Full-Year 2026
Expectations Expectations
(as of 02/11/26) (as of 02/11/26)
ARR $491 million - $493 $567 million - $573
million million
Annual Growth 20% - 21% 18% - 19%
Revenue $126 million - $128 $565 million - $571
million million
Annual Growth 18% - 20% 19% - 20%
Adjusted EBITDA $26 million - $28 $149 million - $155
million 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 CLBTQ425
ID:
Event URL: https://investors.cellebrite.com/events/event-details/cellebrite-q4-2025-financial-re
sults-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 For the year ended
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 For the year ended
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 For the year ended
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 For the year ended
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 For the year ended
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 For the year ended
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 For the year ended
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
Copyright CNW Group 2026
(END) Dow Jones Newswires
February 11, 2026 07:00 ET (12:00 GMT)