Cellebrite Announces First-Quarter 2025 Results

Core Insights - Cellebrite reported a first-quarter 2025 revenue of $107.5 million, representing a 20% year-over-year growth, primarily driven by a 21% increase in subscription revenue [1][7] - The Annual Recurring Revenue (ARR) grew by 23% to $408.0 million, with a dollar-based net retention rate of 121% [1][7] - Adjusted EBITDA for the first quarter was $23.7 million, reflecting a 34% year-over-year growth and a margin of 22% [2][3][7] Financial Performance - First-quarter 2025 revenue was $107.5 million, up from $89.6 million in the same period last year [7][24] - Subscription revenue reached $95.8 million, marking a 21% increase year-over-year [7][29] - Gross profit was $90.1 million, with a gross margin of 83.7% [7][24] - GAAP net income was $17.4 million, compared to a net loss of $71.4 million in the previous year [7][29] - Non-GAAP net income was $26.2 million, with diluted earnings per share of $0.10 [7][36] Business Highlights - The company launched its Spring 2025 Release on May 6, 2025, introducing the Cellebrite Cloud and AI-powered innovations [4] - Cellebrite hosted its inaugural user conference with approximately 700 attendees from 350 agencies across 27 countries [5] - The company emphasized its global diversification and the range of solutions across various sectors, including federal, state, local, defense, and intelligence [3] Financial Outlook - For the second quarter of 2025, Cellebrite expects ARR to be between $416 million and $426 million, with revenue projected between $110 million and $116 million [8] - The full-year 2025 ARR target is maintained at $480 million to $495 million, while revenue targets are adjusted to $470 million to $485 million [6][8] - Adjusted EBITDA for the second quarter is expected to be between $26 million and $28 million, with a margin around 24% [8]