Core Insights - Cellebrite announced the appointment of Thomas E. Hogan as CEO, effective immediately, following his role as interim CEO since January 2025 [4][5] - The company reported a 21% increase in Annual Recurring Revenue (ARR) to $418.9 million and an 18% increase in revenue to $113.3 million for the second quarter of 2025 [1][3] - Net income for the second quarter was $19.5 million, with non-GAAP net income of $30.8 million and adjusted EBITDA of $27.9 million, reflecting a 24.6% adjusted EBITDA margin [1][3] Financial Performance - Revenue for the second quarter of 2025 reached $113.3 million, up 18% year-over-year, with subscription revenue at $103.0 million, a 21% increase [3][26] - The company achieved a dollar-based net retention rate of 120%, indicating strong customer retention and expansion [3][19] - Free cash flow grew by 133% to $29.0 million, representing a 26% free cash flow margin [2][3] Strategic Developments - Cellebrite announced an agreement to acquire Corellium for an enterprise value of $170 million, which is expected to enhance its digital investigation capabilities [2][7] - The company is making progress in its FedRAMP journey, with the U.S. Department of Justice sponsoring its platform for a FedRAMP High authorization, which is crucial for expanding its services to the U.S. Federal government [10][11] - Significant leadership changes include the retirement of CFO Dana Gerner and the appointment of David Barter as the new CFO, who has extensive experience in SaaS-based public companies [2][6] Future Outlook - For the third quarter of 2025, Cellebrite expects ARR to be between $435 million and $445 million, with revenue projected between $121 million and $126 million [11] - The full-year 2025 expectations include ARR of $460 million to $475 million and revenue of $465 million to $475 million, with annual growth rates of 16% to 20% [11] - Adjusted EBITDA for the full year is anticipated to be between $118 million and $123 million, with an adjusted EBITDA margin of 25% to 26% [11]