Cellebrite DI Ltd. (CLBT) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving.Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock ...

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Financial Data and Key Metrics - Q4 revenue grew 26% YoY to $93 million, driven by a 26% increase in subscription software revenue [19] - Adjusted EBITDA for Q4 was $22.27 million, representing a 24% margin [19] - Non-GAAP EPS for Q4 was $0.11 [19] - Cash and investments at the end of 2023 totaled $332 million, a 62% increase from the end of 2022 [19] - Full-year 2023 revenue increased 20% to $325.1 million, with subscription revenue growing 30% [152] - Full-year adjusted EBITDA was $61.9 million, representing a 19% margin [38] - ARR grew 27% YoY to $315.7 million in Q4 and $316 million for the full year [19][60] Business Line Performance - Subscription revenue accounted for 85% of total revenue in 2023, with perpetual license revenue declining 36% [152] - Cloud-based revenue grew rapidly in 2023, though it represented less than 10% of total revenue [12] - Pathfinder deals reached a record number in Q4, with approximately 200 agencies now using the solution [27] - Inseyets, a new solution, has seen strong interest, with upgrades contributing to a 65% ARR increase at one national police force [52] Market Performance - Americas accounted for 53% of total ARR in 2023, followed by EMEA at 36% and Asia-Pacific at 11% [36] - ARR growth in the Americas was 30%, EMEA grew 23%, and Asia-Pacific increased 29% [36] - A large deal with a Western European national police force grew ARR by more than 25% [22] Strategy and Industry Competition - The company is focusing on expanding its Case-to-Closure (C2C) platform, which integrates digital forensic and investigative tools [18][26] - Investments in cloud infrastructure and FedRAMP certification are expected to open up more federal opportunities [25] - The company plans to scale its SaaS offerings, including cloud-enabling previously on-prem solutions and developing cloud-native offerings [25] - Inseyets is positioned as a game-changer, enabling customers to complete examinations up to twice as fast as before [9] Management Commentary on Operating Environment and Future Outlook - The company expects Q1 2024 revenue to range between $83 million and $88 million, representing 17% to 24% YoY growth [41] - Full-year 2024 revenue is expected to range from $370 million to $385 million, with ARR targets between $380 million and $400 million [153] - Adjusted EBITDA for 2024 is anticipated to be between $70 million and $80 million, with margins of 19% to 21% [42] - The company is optimistic about improving profitability and expects higher adjusted EBITDA margins in the second half of 2024 [42] Other Important Information - The company plans to expand its workforce by approximately 15% in 2024, focusing on go-to-market and innovation initiatives [13] - FedRAMP certification is a key milestone expected to unlock additional federal opportunities [119][120] - The company is exploring inorganic growth opportunities, including technological tuck-ins and larger acquisitions [112] Q&A Summary Question: Inseyets Pricing and Productivity Impact - Inseyets is priced 20% to 25% higher than legacy solutions, with additional modules contributing to higher value [104] - The company expects Inseyets to drive significant growth, with upgrades and add-on modules contributing to ARR expansion [20][24] Question: Subscription Revenue Benchmark - Subscription revenue is expected to remain around 85% of total revenue, with perpetual licenses becoming negligible [81][142] Question: Pathfinder and Guardian Contribution - Pathfinder and Guardian are emerging growth engines, with Pathfinder deals growing significantly in Q4 [27][90] - Both solutions are expected to grow faster than the core Inseyets offering, contributing to ARR growth in 2024 [106] Question: FedRAMP Market Opportunity - FedRAMP certification is expected to double the company's federal business by enabling access to additional buying centers [132] Question: Training and Customer Adoption - Training is essential for customer adoption, especially in law enforcement, and is integrated into the company's post-sale customer experience strategy [78][89] Question: M&A Strategy - Inorganic growth is part of the company's long-term strategy, with potential targets being evaluated [112] Question: Competitive Pricing Dynamics - The company operates in a value-based market, with competitors also increasing prices systematically [115]

් Cellebrite Q4 2023 RESULTS CA February 15, 2024 :: Cellebrite DISCLAIMER GROWTH PROSPECTS STRATEGIC PRIORITIES & CUSTOMER SUCCESS February 15, 2024 Q4 2023 574 M Q4 22 This presentation las been presend tyc Gelebrite D Lut. (Inte "Company") solely for rinfrmalinal pupuses. Kis not, and sfruit not te assumed o be, complete. This presentat This presentainn is not drienced at, or rineanded for discilidulin no or resear or entily that is a citien or resident or koaliy, state, county or other jicsdiction where ...

Busakorn Pongparnit/Moment via Getty Images Introduction Cellebrite DI Ltd. (NASDAQ:CLBT) is an Israeli company that specializes in digital forensics data extraction, analytics and management. Their primary digital forensics software product, Inseyets (launched in January 2024), allows law enforcement to connect its software to a mobile device like a cell phone or tablet and securely access the device and extract data from it. The data is then decoded, reviewed, shared and analyzed with different products i ...

● GAAP gross profit and gross margin of $78.1 million and 84.0%, respectively; Non-GAAP gross profit and gross profit margin of $78.6 million and 84.5%, respectively Full-Year 2023 Financial Highlights ● GAAP net loss of $81.1 million; Non-GAAP net income of $60.9 million Innovation · In mid-November 2023, Cellebrite sponsored and participated in Milipol, the preeminent global law enforcement and homeland security event held in Paris. Supplemental financial information can be found on the Investor Relations ...

[Cellebrite Fourth-Quarter and Full-Year 2023 Financial Results](index=1&type=section&id=Cellebrite%20Fourth-Quarter%20and%20Full-Year%202023%20Financial%20Results) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) Cellebrite reported strong Q4 and full-year 2023 financial performance, with Q4 revenue up 26% to $93.0 million and full-year ARR reaching $315.7 million, exceeding 'Rule of 45' status Q4 2023 Financial Highlights | Metric | Q4 2023 | YoY Change | | :--- | :--- | :--- | | Revenue | $93.0 million | +26% | | Subscription Revenue | $78.6 million | +26% | | GAAP Gross Margin | 84.0% | N/A | | Adjusted EBITDA | $22.7 million | N/A | | Adjusted EBITDA Margin | 24.4% | N/A | | GAAP Diluted EPS | $(0.08) | N/A | | Non-GAAP Diluted EPS | $0.11 | N/A | Full-Year 2023 Financial Highlights | Metric | FY 2023 | YoY Change | | :--- | :--- | :--- | | ARR | $315.7 million | +27% | | Total Revenue | $325.1 million | +20% | | Subscription Revenue | $280.4 million | +30% | | Adjusted EBITDA | $61.9 million | N/A | | Adjusted EBITDA Margin | 19.1% | N/A | | GAAP Net Loss | $(81.1) million | N/A | | Non-GAAP Net Income | $60.9 million | N/A | | GAAP Diluted EPS | $(0.43) | N/A | | Non-GAAP Diluted EPS | $0.28 | N/A | [Management Commentary](index=1&type=section&id=Management%20Commentary) Management emphasized outstanding 2023 performance, exceeding targets and achieving 'Rule of 45' status, driven by strategic objectives and strong ARR expansion, positioning the company for continued growth in 2024 - CEO Yossi Carmil stated the company exceeded ambitious 2023 targets, surpassing **'Rule of 45' status** with **27% ARR growth** and **19% adjusted EBITDA margin**[14](index=14&type=chunk) - The company moves into 2024 well-positioned with an expanded Case-to-Closure platform to address end-to-end digital investigative needs[14](index=14&type=chunk) - CFO Dana Gerner highlighted that strong revenue growth, improved gross margins, and disciplined cost management led to higher adjusted EBITDA in 2023[5](index=5&type=chunk) - The company anticipates **52% to 55%** of full-year 2024 revenue to be generated in the second half, consistent with historical trends and momentum from the new Inseyets solution[5](index=5&type=chunk) [Business and Operational Highlights](index=2&type=section&id=Business%20and%20Operational%20Highlights) Cellebrite advanced its strategic initiatives by launching the expanded Case-to-Closure platform, securing a major U.S. police department expansion, and initiating 'Operation Find Them All' to combat crimes against children - Announced the Case-to-Closure (C2C) platform, an end-to-end solution comprising Inseyets (digital forensics), Pathfinder (AI analytics), and Guardian (evidence management)[15](index=15&type=chunk) - One of the **10 largest U.S. police departments** significantly expanded its use of Cellebrite solutions, including advanced digital forensics software and AI-powered Pathfinder analytics[16](index=16&type=chunk) - Launched "Operation Find Them All" in collaboration with organizations like the National Center of Missing and Exploited Children to help reduce crimes against children using its AI-powered solutions[18](index=18&type=chunk) [Financial Outlook](index=3&type=section&id=Financial%20Outlook) Cellebrite projects full-year 2024 ARR between $380 million and $400 million, revenue between $370 million and $380 million, and adjusted EBITDA between $70 million and $80 million 2024 Financial Outlook | | First-Quarter 2024 Expectations | Full Year 2024 Expectations | | :--- | :--- | :--- | | **ARR** | $325 million - $335 million | $380 million - $400 million | | Annual Growth | 24% - 28% | 20% - 27% | | **Revenue** | $83 million - $88 million | $370 million - $380 million | | Annual Growth | 17% - 24% | 14% - 18% | | **Adjusted EBITDA** | $12 million - $15 million | $70 million - $80 million | | Adjusted EBITDA margin | 15% - 17% | 19% - 21% | [Financial Statements](index=8&type=section&id=Financial%20Statements) This section presents Cellebrite's consolidated financial statements, including detailed statements of operations, balance sheets, cash flows, and reconciliations of GAAP to non-GAAP financial measures [Condensed Consolidated Statements of Operations](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Cellebrite's full-year 2023 operations show revenue growth to $325.1 million and increased operating income to $33.2 million, despite reporting a GAAP net loss of $81.1 million due to financial expenses Full Year Statement of Operations Summary (U.S Dollars in thousands) | Metric | FY 2023 | FY 2022 | | :--- | :--- | :--- | | Total Revenue | $325,110 | $270,651 | | Gross Profit | $271,879 | $219,905 | | Operating Income | $33,237 | $1,044 | | Net (Loss) Income | $(81,100) | $120,805 | | Diluted (Loss) Earnings Per Share | $(0.43) | $0.59 | [Condensed Consolidated Balance Sheets](index=9&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of December 31, 2023, Cellebrite's balance sheet strengthened with total assets increasing to $532.9 million, driven by a significant rise in cash and cash equivalents to $189.5 million, alongside growth in shareholders' equity Balance Sheet Summary (U.S Dollars in thousands) | Metric | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Cash and cash equivalents | $189,517 | $87,645 | | Total Assets | $532,885 | $403,293 | | Total Liabilities | $253,824 | $207,777 | | Total Shareholders' Equity | $279,061* | $195,516* | *Calculated as Total Assets - Total Liabilities [Condensed Consolidated Statements of Cash Flow](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flow) Cellebrite generated substantial cash from operating activities, reaching $102.1 million in 2023, leading to a net increase in cash and cash equivalents of $101.3 million and a year-end balance of $189.5 million Full Year Cash Flow Summary (U.S Dollars in thousands) | Metric | FY 2023 | FY 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $102,058 | $20,577 | | Net cash used in investing activities | $(22,540) | $(91,231) | | Net cash provided by financing activities | $21,765 | $13,970 | | Net increase (decrease) in cash | $101,283 | $(56,684) | | Cash and cash equivalents at end of period | $189,517 | $87,645 | [Reconciliation of GAAP to Non-GAAP Financial Information](index=14&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Information) This section details the reconciliation of GAAP to non-GAAP financial measures, adjusting the 2023 GAAP net loss of $81.1 million to a non-GAAP net income of $60.9 million and an adjusted EBITDA of $61.9 million Full Year GAAP Net Loss to Non-GAAP Net Income Reconciliation (U.S Dollars in thousands) | Metric | FY 2023 | | :--- | :--- | | GAAP Net (Loss) Income | $(81,100) | | Finance expense (income) from financial derivatives | $119,348 | | Share based compensation | $18,998 | | Other Adjustments | $(16,320) | | **Non-GAAP Net Income** | **$60,926** | Full Year Adjusted EBITDA Reconciliation (U.S Dollars in thousands) | Metric | FY 2023 | | :--- | :--- | | GAAP Net (Loss) Income | $(81,100) | | Financial expense, net | $108,800 | | Tax expense | $5,537 | | Share based compensation | $18,998 | | Depreciation & Amortization | $10,011 | | Other Adjustments | $(345) | | **Adjusted EBITDA** | **$61,946** | [Other Information](index=4&type=section&id=Other%20Information) This section provides details on upcoming investor events, including a conference call and Investor Day, alongside important disclosures regarding non-GAAP financial measures and forward-looking statements - A conference call was scheduled for February 15, 2024, to discuss financial results[6](index=6&type=chunk)[21](index=21&type=chunk) - An Investor Day event is scheduled for March 27, 2024, in New York City, featuring presentations from the leadership team and product demonstrations[39](index=39&type=chunk) - The press release includes non-GAAP financial measures, which the company believes are helpful to investors for understanding underlying business performance. Reconciliations are provided[8](index=8&type=chunk)[22](index=22&type=chunk) - The document contains forward-looking statements subject to risks and uncertainties, including dependence on law enforcement agencies, competition, and risks associated with operations in Israel[26](index=26&type=chunk)[44](index=44&type=chunk)

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Cellebrite DI Ltd. (CLBT) , which belongs to the Zacks Technology Services industry, could be a great candidate to consider.This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 433.33%.For the last reported quarter, Cellebrite DI Ltd. C ...

Financial Data and Key Metrics Changes - The company reported record Q3 results with an Annual Recurring Revenue (ARR) of $295.2 million, up 27% year-over-year. Total revenue reached $84.2 million, growing 17%, driven by a 32% increase in subscription software revenue [58][97] - The dollar-based Net Revenue Retention (NRR) was 125%, marking the 19th consecutive quarter above 120% [58] - Adjusted EBITDA for Q3 was $20.8 million, representing a 25% margin, with non-GAAP EPS of $0.09 [59][105] - Cash deposits and investments totaled nearly $283 million, an increase of $39 million from Q2 [59][106] Business Line Data and Key Metrics Changes - Subscription revenue grew by 32%, while other non-recurring revenue declined by 43% and professional services revenue decreased by 22% [97] - The Americas accounted for 57% of total revenue, followed by EMEA at 31% and Asia Pacific at 12% [99] - The company has transitioned to a subscription model, with 87% of total quarterly revenue coming from software subscriptions, up from 78% a year ago [99] Market Data and Key Metrics Changes - Revenue performance was led by EMEA with 23% growth, followed by the Americas at 16% and Asia Pacific at 13% [58] - The private sector saw low 20% revenue growth in Q3, reflecting a favorable trend [72] Company Strategy and Development Direction - The company aims to increase leadership in digital forensic units, accelerate growth within investigative units, build business in the private sector, and harness cloud capabilities [73] - The introduction of new SaaS offerings, such as Smart Search and Mobile Now, is part of the strategy to address customer needs and expand market presence [8][81] - The company plans to achieve FedRAMP certification to enhance its position in the U.S. federal market [130] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the healthy market environment and the company's ability to meet strategic goals despite macroeconomic challenges [18][90] - The company anticipates continued growth in 2024, driven by healthy budgets and increased allocation towards Digital Intelligence solutions [90] - Management noted that the ongoing conflict in the Middle East has not significantly impacted business operations [94] Other Important Information - The company has updated its 2023 revenue outlook, raising the midpoint of its guidance range due to strong performance and a robust sales pipeline [88][109] - The company is on track to exceed 1,000 employees by the end of 2023, reflecting growth in operational capacity [107] Q&A Session Summary Question: Impact of FedRAMP on local and state customers - Management confirmed that FedRAMP certification would benefit local and state customers by providing a shortcut for due diligence and validation [5] Question: Federal spending trends in Q3 - Management reported no challenges in federal budgets during Q3, indicating a healthy environment compared to previous years [13] Question: Differences in targeting public vs. private sector - Management highlighted the potential in the private sector, especially with a strong public sector background [7] Question: Clarification on hedging policy - The hedging policy primarily protects expenses in Israeli shekels, with a rolling coverage strategy [11] Question: Expectations for Q4 revenue - Management indicated that Q4 revenue is expected to be in the range of $83 million to $88 million, anchored by strong subscription growth [109] Question: OpEx expectations for Q4 - Management noted that Q4 operating costs would increase due to marketing activities and higher incentive compensation [111] Question: Pricing strategy for new products - Management emphasized that the new UFED Ultra offering would not just be a price increase but a re-packaging of capabilities with added value [128][129]

Cellebrite DI Ltd. (NASDAQ:CLBT) Q2 2023 Results Conference Call August 8, 2023 8:30 AM ET Company Participants Andrew Kramer - Vice President-Investor Relations Yossi Carmil - Chief Executive Officer Dana Gerner - Chief Financial Officer Conference Call Participants Jeff Van Rhee - Craig Hallum Jamie Shelton - Deutsche Bank Tomer Zilberman - Bank of America Louie DiPalma - William Blair Mike Cikos - Needham and Company Operator Welcome to the Cellebrite's Second Quarter 2023 Financial Results Conference Ca ...