Profitability improved as well. Fourth-quarter gross margin was 86% (gross profit of $110.8 million), and full-year gross margin was 85%. Adjusted EBITDA in the fourth quarter was $38.3 million, up 33% year over year, with the margin expanding 340 basis points to 29.8%. Full-year Adjusted EBITDA was $127.6 million, representing a 26.8% margin.Fourth-quarter revenue rose 18% to $128.8 million, including about $1 million from Corellium. Full-year revenue increased 19% to $475.7 million. Barter said software s ...

Cellebrite DI (NasdaqGS:CLBT) Q4 2025 Earnings call February 11, 2026 08:30 AM ET Company ParticipantsAndrew Kramer - VP of Investor RelationsBhavin Shah - Director of Software Equity ResearchDavid Barter - CFOMarcus Jewell - Chief Revenue OfficerShaul Eyal - Managing Director of Equity ResearchTom Hogan - CEOConference Call ParticipantsBrian Essex - Executive Director and Equity Research AnalystEric Martinuzzi - Senior Research AnalystJeff Van Rhee - Partner and Senior Research AnalystJonathan Ho - Partner ...

Cellebrite DI (NasdaqGS:CLBT) Q4 2025 Earnings call February 11, 2026 08:30 AM ET Company ParticipantsAndrew Kramer - VP of Investor RelationsBhavin Shah - Director of Software Equity ResearchDavid Barter - CFOMarcus Jewell - Chief Revenue OfficerShaul Eyal - Managing Director of Equity ResearchTom Hogan - CEOConference Call ParticipantsBrian Essex - Executive Director and Equity Research AnalystEric Martinuzzi - Senior Research AnalystJeff Van Rhee - Partner and Senior Research AnalystJonathan Ho - Partner ...

分组1 - Cellebrite DI Ltd. reported quarterly earnings of $0.14 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.10 per share a year ago, resulting in an earnings surprise of +2.41% [1] - The company achieved revenues of $128.82 million for the quarter ended December 2025, exceeding the Zacks Consensus Estimate by 1.26%, and up from $109.05 million year-over-year [2] - Over the last four quarters, Cellebrite has surpassed consensus EPS estimates four times and topped revenue estimates three times [2] 分组2 - The stock has underperformed, losing about 17.1% since the beginning of the year, while the S&P 500 has gained 1.4% [3] - The current consensus EPS estimate for the upcoming quarter is $0.12 on revenues of $127.55 million, and for the current fiscal year, it is $0.58 on revenues of $558.28 million [7] - The Zacks Industry Rank for Internet - Software is in the bottom 44% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Financial Data and Key Metrics Changes - The company closed 2025 with an ARR growth of 21% to $481 million, including the acquisition of Corellium, which contributed $16.1 million to ARR [21][22] - Excluding Corellium, ARR grew 17% year-over-year, with a sequential increase of 6% from Q3 [21][22] - Revenue for Q4 grew 18% to $128.8 million, while full-year revenue increased 19% to $475.7 million [23] - Adjusted EBITDA for Q4 was $38.3 million, a 33% increase year-over-year, with a margin of 29.8% [24] - Free cash flow for the full year was $160 million, representing a 34% margin, which is a 30% increase over 2024 [24][25] Business Line Data and Key Metrics Changes - The company converted 55% of its installed digital forensics base to Inseyets, exceeding the 50% target [7] - ARR for SaaS and cloud offerings grew over 50%, now representing 22% of total ARR [9] - Higher growth solutions like Pathfinder and Guardian now represent 14% of total ARR, expected to approach 20% by the end of the coming year [22] Market Data and Key Metrics Changes - The Americas accounted for 53% of total ARR, with EMEA at 35% and Asia-Pacific at 12% [22] - Growth rates by geography showed the Americas growing 19%, EMEA 24%, and Asia-Pacific 23% [22] Company Strategy and Development Direction - The company aims to reaccelerate growth in 2026 with initial guidance of 18%-19% compared to 17% organic growth in 2025 [10] - Focus on expanding digital forensics capabilities, including investments in mobile research and drone forensics [8][14] - The acquisition of SCG Canada is expected to enhance the company's capabilities in drone forensics, addressing a growing market [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about strong core demand for solutions, driven by macro trends such as crime and population growth [10] - The U.S. federal segment is expected to recover and exceed overall growth rates in 2026, aided by increased federal funding and the anticipated approval for FedRAMP Level 4 [11] - The company is focused on maintaining a free cash flow margin of at least 30% while reaccelerating ARR growth [25][31] Other Important Information - The company ended 2025 with $535 million in cash and investments, up $52 million despite the acquisition outflow [24] - The company plans to launch Guardian Investigate in spring 2026, aimed at enhancing case narratives for investigators [17] Q&A Session Summary Question: How will the company ensure successful execution of the SCG Canada and Corellium acquisitions? - Management indicated that the Corellium transaction took longer than expected but has allowed for better integration planning. The SCG acquisition is seen as complementary and manageable [34][35] Question: What drove the decision to acquire SCG Canada? - The acquisition was driven by both customer demand and strategic planning to address the growing drone market, which is expected to expand significantly [38][40] Question: What are the expectations for U.S. federal government spending? - Management noted that there is pent-up demand in defense and intelligence use cases, with confidence in growth due to strategic planning and upcoming events like the FIFA World Cup [48][49] Question: How will the company approach the integration of Corellium and its impact on costs? - The integration is expected to initially compress margins but is anticipated to improve profitability as the company grows into the acquisition [75][76]

UPDATED: FEBRUARY 2026 INTRODUCTION TO CELLEBRITE INVESTOR PRESENTATION February 11, 2026 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, an ...

INVESTOR PRESENTATION UPDATED: FEBRUARY 2026 INTRODUCTION TO CELLEBRITE February 11, 2026 www.cellebrite.com © 2025 Cellebrite DI Ltd. www.cellebrite.com DISCLAIMER This presentation has been prepared by Cellebrite DI Ltd. (the "Company") solely for informational purposes. It is not, and should not be assumed to be, complete. This presentation is not an offer to sell securities, nor is it a solicitation of an offer to buy securities. This presentation is not directed at, or intended for distribution to or u ...

Core Insights - Cellebrite's 2026 Industry Trends Report highlights the increasing importance of digital evidence in investigations, particularly through smartphones, which are cited by 97% of investigators as the top source of evidence, a significant increase from 73% in 2024 [2][8] - The report indicates a strong interest in AI adoption for enhancing investigation efficiency, with 65% of public safety respondents believing AI can accelerate investigations, although nearly one-third report policy barriers to its use [3][8] - Public safety agencies recognize the value of digital evidence, with 95% agreeing it increases case solvability, yet 94% report that the complexity of digital evidence is straining their caseloads [4][8] Digital Evidence and Investigations - The reliance on smartphones for digital evidence has surged, reflecting public expectations for its use in investigations [2] - Digital evidence is now seen as foundational to modern justice, prompting agencies to rethink their workflows and resource allocation [5] - Despite the recognition of digital evidence's importance, only 62% of agency leaders are reallocating resources from traditional methods to digital approaches, highlighting a gap in modernization efforts [4] AI and Policy Challenges - AI is viewed as a critical tool for speeding up investigations, yet significant policy barriers exist that hinder its implementation in many agencies [3] - The report emphasizes the need for responsible AI use in policing, advocating for public consultation and appropriate safeguards [5] Cloud Adoption and Evidence Management - Cloud adoption for digital evidence management has increased to 42% in 2026, up from 38% in 2025, although two-thirds of respondents still rely on physical media, which poses risks to evidence integrity [6][8] - The shift towards cloud solutions is essential for improving evidence-sharing and collaboration among agencies [6] Private Sector Insights - In the private sector, digital investigations are becoming integral to business operations, with a notable shift from strategic intent to practical application of AI [7] - Organizations are increasingly focused on proactive investigation strategies, emphasizing the importance of understanding data across various systems and applications [9] Implications for Cellebrite - The trends identified in the report have led to strong adoption of Cellebrite's Guardian platform among law enforcement agencies, with triple-digit year-over-year growth in 2025 across customers, users, and data stored [9]

TYSONS CORNER, Va. and PETAH TIKVA, Israel, Jan. 21, 2026 /PRNewswire/ -- Cellebrite (NASDAQ: CLBT), a global leader in premier Digital Investigative solutions for the public and private sectors, today announced it will report its fourth-quarter and fiscal year 2025 financial results before the U.S. markets open on Wednesday, February 11, 2026. Later that same morning, Cellebrite will host a live conference call and webcast to review the Company's financial results for the fourth quarter of 2025 and discus ...

Summary of the 2026 Year Ahead Outlook: Securing The Agentic Wave Industry Overview - **Industry**: Security Software - **Key Analysts**: Brian Essex, CFA; John Lee; Alex Isaac from J.P. Morgan Securities LLC Core Insights 1. **Favorable Outlook for Security Software in 2026** - The demand backdrop is healthy with reasonable expectations and attractive setups for better-than-expected execution - Top picks include PANW, CLBT, NTSK, and ZS, while FTNT is moved to Underweight due to competitive disadvantages [13][25] 2. **Market Dynamics in 2025** - 2025 was marked by macro uncertainty, leading to a slight contraction in average multiples across the coverage - Security software benefitted from a rotation towards stronger thematic names, particularly those with AI tailwinds [14][22] 3. **Budget Pressures and Spending Trends** - IT Security budgets are expected to grow at a slower pace compared to previous years, with a lower percentage of IT spending allocated to Security - Most budget pressure will impact headcount-related spending, while software spending remains healthy [22][62] 4. **AI's Impact on Security** - AI has increased the volume and sophistication of threats, necessitating a focus on Network Security, Endpoint, and Identity - Demand for SASE (Secure Access Service Edge) remains elevated, driven by AI adoption [23][24] 5. **Platformization and Vendor Performance** - Spending is expected to favor platform vendors that can consolidate across multiple high-priority categories - Established platforms are well-positioned for margin expansion and free cash flow growth [24][27] Key Company Insights 1. **Top Picks for 2026** - **PANW**: Comprehensive end-to-end platform with strong share consolidation capabilities; expected FCF margin expansion to 40% or better [27] - **CLBT**: Positioned for reacceleration driven by government demand; attractive valuation for potential 20%+ y/y growth [28] - **NTSK**: High-growth vendor with improving market traction; well-positioned for demand in Network, Data, and AI security [29] - **ZS**: Benefitting from a shift in Network Security spending; expected to gain from an expanding attack surface [30] 2. **Underweight Ratings** - **FTNT**: Facing challenges as a platform consolidator; current market conditions are unfavorable for stock performance [25] Additional Insights 1. **Consolidation Trends** - M&A activity is expected to accelerate, with private companies driving innovation in the security software space - Notable acquisitions include CyberArk by PANW and several others across the industry [105] 2. **Emerging Threats and Security Needs** - Cyber risks remain a top concern for C-suite executives, with a growing need for solutions to secure AI and machine identities - The market for securing AI is fragmented but expected to grow as larger players invest in this area [145][148] 3. **Growth Projections** - Security software is projected to remain a high-growth sector, with significant opportunities in Cloud Security, Data Privacy, and Endpoint Security - Expected CAGRs from 2024-2029 include Cloud Security at 24% and Data/Privacy at 13% [83] 4. **Valuation and Fundamentals** - Average multiples have contracted, but high-growth vendors are beginning to see multiple appreciation as interest rates stabilize - Companies that can reaccelerate growth while improving profitability will be favored in the market [111][116] This summary encapsulates the key points from the 2026 Year Ahead Outlook for the Security Software industry, highlighting the anticipated trends, company performances, and market dynamics.