Capital allocation strategy aims to combine investing in core business and returning excess capital to shareholdersLOUDON, Tenn., Dec. 19, 2025 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU), a U.S. designer and manufacturer of category-leading salt and freshwater recreational powerboat brands, today announced that its board of directors has authorized an increase to the Company’s existing share repurchase program, raising the authorized amount from $50 million to $70 million. The expanded repurchase ...

Core Viewpoint - Toyota plans to reverse import three models, including the Camry, Tundra, and Highlander, from the U.S. to Japan starting in 2026, aiming to address trade deficit concerns raised by the U.S. government and to expand customer options [2][4]. Group 1: Reverse Import Strategy - The models targeted for reverse import include the Camry, Tundra, and Highlander, which are currently not sold in Japan [4]. - This strategy is seen as a response to the U.S. government's concerns about trade deficits and aims to provide more options for Japanese consumers [2][4]. - Other Japanese automakers, such as Honda and Nissan, are also exploring similar reverse import strategies, indicating a growing trend among Japanese car manufacturers to increase production in the U.S. [5]. Group 2: Regulatory Considerations - The implementation of reverse imports is contingent upon the Japanese Ministry of Land, Infrastructure, Transport and Tourism simplifying the import vehicle review process [4]. - The ministry is considering a new "ministerial exception" system that would allow for safety certification through document review, potentially expediting the process by early 2026 [4]. Group 3: Market Dynamics - The rising labor costs in the U.S. and transportation costs to Japan present challenges for Toyota's profitability in this reverse import initiative [4]. - Toyota's Chairman, Akio Toyoda, has expressed a positive attitude towards reverse imports, aligning with the U.S. administration's push for increased sales of American cars in Japan [4].

Core Viewpoint - Malibu Boats, Inc. has appointed David S. Black as Chief Financial Officer to enhance financial performance and support future growth initiatives through acquisitions and strategic planning [1][3]. Company Leadership - David S. Black, previously Vice President of Finance and interim CFO, has over 19 years of experience in accounting and finance, including roles as Corporate Controller and Director of Internal Audit [2][3]. - The CEO, Steve Menneto, expressed confidence in Black's ability to drive the company's growth and financial strategy, emphasizing his understanding of the business and strategic vision [3]. Fiscal Guidance - For fiscal year 2026, Malibu Boats anticipates net sales to be flat to down mid-single digits percentage points year-over-year, with an Adjusted EBITDA margin ranging from 8% to 9% [4]. - The company has not provided reconciliations for the Adjusted EBITDA margin due to the unpredictability of certain costs related to vertical integration, stock-based compensation, and litigation [5]. Company Overview - Malibu Boats, Inc. is a leading designer and manufacturer of recreational powerboats, including performance sport, sterndrive, and outboard boats, with a strong market presence in various segments [6].

Financial Data and Key Metrics Changes - Annual Recurring Revenue (ARR) grew 19% year-over-year to $440 million, with a sequential increase of 5% [23][24] - Third quarter revenue reached $126 million, an 18% increase from the previous year, primarily driven by a 21% growth in subscription revenue [24][25] - Adjusted EBITDA for the third quarter was $37.7 million, up 20% year-over-year, with a margin of 29.9% [25][30] - Free cash flow for the third quarter was $30 million, with a trailing twelve-month free cash flow of $140 million, representing a margin of 31% [27][30] Business Line Data and Key Metrics Changes - Subscription revenue grew 21%, with approximately 89% of total revenue associated with subscription-based software solutions [24][25] - The U.S. State and Local segment and Latin America were highlighted as strong performers, contributing significantly to subscription revenue growth [24][25] - ARR for SaaS and cloud-based solutions grew three times faster than total ARR, with Guardian's customer base more than doubling year-over-year [12][25] Market Data and Key Metrics Changes - The Americas accounted for 55% of total ARR, with EMEA at 33% and Asia Pacific at 12% [24] - The Americas segment grew 21%, driven by strong performance in U.S. State and Local government and Latin America [24] Company Strategy and Development Direction - The company is focused on four core growth vectors: leadership in unlock and access solutions, innovation in AI and digital investigations, resurgence in U.S. Federal sector growth, and the acquisition of Keryllium to expand its total addressable market (TAM) [14][18][19] - The strategic focus on the global defense and intelligence sector is yielding positive results, with increased investments from military and intelligence agencies [13][18] - The upcoming launch of Guardian Investigate is expected to transform the investigation lifecycle and enhance collaboration and insights [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong rebound in 2026, driven by pent-up demand and targeted funding releases [17][20] - The company remains cautious about the fourth quarter due to normal government seasonality and recent shutdowns but anticipates these factors to be transitory [17][20] - The management team emphasized the importance of disciplined spending and margin expansion to maintain profitability and free cash flow [21][30] Other Important Information - The company ended the third quarter with $595 million in cash, cash equivalents, and investments, positioning it well for future growth and potential acquisitions [26][27] - The acquisition of Keryllium is expected to close soon, which will enhance the company's offerings in the defense and intelligence sectors [19][20] Q&A Session Summary Question: Path forward to cloud adoption as a percent of ARR - Management indicated ongoing partnerships with customers transitioning to cloud solutions, with many products already in the cloud [42][44] Question: Insights on Keryllium's pipeline and growth potential - The company has built a significant pipeline for Keryllium, with initial orders processed and expectations for more transactions in Q4 [46][47] Question: 2026 growth prospects and guidance - Management refrained from providing specific numbers for 2026 but expressed confidence in accelerated growth compared to 2025 [50][52] Question: Federal business performance and growth drivers - The federal segment returned to growth in Q3, with significant orders from strategic clients, indicating strong product fit and momentum [58][60] Question: Competitive landscape and market positioning - The company noted high barriers to entry in the market, with no significant new entrants, and expressed confidence in its competitive positioning [91][93]

Financial Performance - Total revenue for Q3 2025 reached $126 million, an 18% increase compared to $107 million in Q3 2024[42] - Subscription revenue for Q3 2025 was $113 million, a 21% increase from $93 million in Q3 2024[42] - ARR (Annual Recurring Revenue) as of September 2025 reached $440 million, a 19% increase compared to $371 million in September 2024[42] - Adjusted EBITDA for Q3 2025 was $38 million, representing 30% of revenue, compared to $31 million and 29% in Q3 2024[42] - The company anticipates ARR to be between $460 million and $475 million for fiscal year 2025, representing a growth of 16% to 20%[72] - The company expects revenue to be between $470 million and $475 million for fiscal year 2025, representing a growth of 17% to 18%[72] - The company projects adjusted EBITDA to be between $124 million and $127 million for fiscal year 2025, with an adjusted EBITDA margin of 26% to 27%[72] Acquisition - Cellebrite is set to acquire Corellium for $170 million in cash, with an additional $30 million earn-out potential over 2 years, the deal is expected to close in Q4 2025[34] Market Position - Cellebrite has a global customer base of approximately 7,000 customers[8] - Cellebrite's solutions are used in over 1.5 million legally-sanctioned investigations in 2024[8] - Cellebrite serves over 3,000 state and local accounts in North America, including 72 out of the top 100[24]

Core Thesis - Cellebrite DI Ltd. is a high-quality software company dominating digital investigations with a strong public-sector presence and significant growth potential [2][4] Financial Performance - As of October 9th, Cellebrite's share price was $19.05, with a trailing P/E ratio of 10.08 [1] - The company is valued at $4.6 billion, experiencing over 20% year-over-year revenue growth, 85% gross margins, and 26% free cash flow margins, with no debt [2] Product Offering - The core Digital Forensics Suite accounts for 80% of revenue and is essential for global investigations, while cloud-based products like Guardian and Pathfinder are doubling in revenue annually [3] Market Position and Growth Drivers - Despite a strong market position, only 5-8% of potential users currently have licenses, indicating significant room for growth as agencies seek to reduce backlogs [4] - Anticipated FedRAMP authorization by Q3 2025 is expected to unlock nationwide cloud adoption, potentially adding over $150 million in annual recurring revenue [4] Strategic Opportunities - There is potential for a sale to strategic or private equity buyers, supported by activist pressure and a significant stake held by SunCorp [5] - Under conservative assumptions, intrinsic value suggests approximately 100% upside over three years, with upcoming catalysts like FedRAMP approval and public safety funding for the 2026 World Cup [5] Market Sentiment - Shares have corrected approximately 30% due to transient fears over budget delays and management turnover, creating a disconnect from the company's fundamentals [3]

Core Insights - Cellebrite announced its Autumn 2025 Release, enhancing its Digital Investigation Platform with new integrations and AI-powered analysis capabilities [1][3] - The addition of Corellium technology through a reseller agreement expands Cellebrite's mobile virtualization offerings, enhancing its digital intelligence solutions [2][3] Product Innovations - The Autumn 2025 Release includes the new Guardian Investigate solution, which utilizes agentic AI to analyze various evidence types and streamline investigative workflows [5] - The Guardian suite has been expanded to include SaaS offerings for digital forensics and investigations, with a focus on collaboration and data residency compliance for EU customers [5] - New deployment options for Pathfinder, Cellebrite's multi-device investigative data analytics solution, are now available in AWS GovCloud, offering cost-optimized configurations [5] Market Impact - Cellebrite's technology is utilized in over 1.5 million investigations annually, serving more than 7,000 customers globally across various sectors including law enforcement and intelligence [3][6] - The integration of Corellium solutions has attracted multiple customers in the defense and intelligence sectors, enhancing mobile vulnerability research and application security testing [5]

Core Viewpoint - Malibu Boats, Inc. is set to host an Investor Day on September 25, 2025, to discuss growth strategies and value creation [1][2]. Company Overview - Malibu Boats, Inc. is a leading designer, manufacturer, and marketer of recreational powerboats, including performance sport, sterndrive, and outboard boats [4]. - The company holds a market leadership position in the performance sport boat category through its Malibu and Axis brands, and in the 20' - 40' segment of the sterndrive category via its Cobalt brand [4]. - Malibu Boats is also a key player in the saltwater fishing boat market with brands such as Pursuit, Cobia, Pathfinder, Maverick, and Hewes [4]. - The company is recognized as an innovator in the powerboat industry, catering to a diverse range of recreational boaters and water sports enthusiasts [4]. Event Details - The Investor Day will feature presentations and discussions with the leadership team, covering the company's strategy, long-term financial targets, and capital allocation priorities [2]. - The event will be available via live webcast, allowing for virtual participation and a Q&A session [3]. - Interested investors can register for the virtual event through the company's website, and a recording will be made available post-event [3].

Financial Data and Key Metrics Changes - ARR grew 21% to $419 million, driven by increased spending within the customer base [49] - Revenue for Q2 was $113.3 million, an 18% increase from the prior year, primarily due to a 21% growth in subscription revenue [51] - Gross profit increased 20% to $96.4 million, representing a gross margin of 85% [51] - Adjusted EBITDA for Q2 was $27.9 million, up 29% year-over-year, with a margin increase of 200 basis points to 24.6% [52] - Free cash flow for Q2 was $29 million, with a free cash flow margin of 25.6% [54] Business Line Data and Key Metrics Changes - Insights, the flagship digital forensic software, saw over 40% of the license base deployed by the end of Q2, with strong NPS scores [19] - Cloud and SaaS solutions now account for 20% of total ARR, reflecting over 50% growth [50] - ARR for Guardian grew by more than 100% year-over-year for the fourth consecutive quarter [20] - Combined, Guardian and Pathfinder represent approximately 10% of total ARR [50] Market Data and Key Metrics Changes - The Americas represented 54% of total ARR, with a growth rate of 24%, led by U.S. State and local government and Latin America [49] - EMEA grew 17%, improving sequentially from Q1 levels [50] - Asia Pacific region also saw a 21% growth in ARR [49] Company Strategy and Development Direction - The company is focused on responsible cost management while pursuing strategic initiatives to enhance growth [18] - The acquisition of Keryllium is expected to accelerate innovation and expand the addressable market [22] - The company aims to leverage AI across all functions to protect growth and innovation [45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of federal spending, anticipating a resurgence in 2026 [41] - The company is well-positioned with differentiated solutions to meet federal clients' needs [40] - Management noted that while there are short-term headwinds, the long-term demand signals remain vibrant [44] Other Important Information - The company ended Q2 with $558 million in cash and equivalents, an increase of $48 million from the previous quarter [54] - The company plans to share additional details regarding Keryllium's financial performance in the Q3 results [55] Q&A Session Summary Question: Confidence levels regarding ongoing recovery in federal spending - Management expressed high confidence, indicating that when federal spending turns, it will do so significantly [66][69] Question: Key drivers of retention rates and their relation to U.S. Federal spending - Management noted strong renewals in the federal segment, with a specific transaction delayed but expected to renew at double the previous size [71][75] Question: Insights on the spending environment and any early signs of improvement - Management highlighted strong funding in defense and intelligence sectors, with a robust pipeline and increasing value in renewals [86][88] Question: Status of the European pipeline and defense spending - Management confirmed that the European pipeline is back on track, with significant orders in defense and intelligence [90][92]

Financial Data and Key Metrics Changes - Celebrite reported a 21% growth in Annual Recurring Revenue (ARR) to $419 million, driven primarily by increased spending within its customer base [45][47] - Revenue for the second quarter reached $113.3 million, an 18% increase from the previous year, primarily due to a 21% growth in subscription revenue [47] - Gross profit increased by 20% to $96.4 million, resulting in a gross margin of 85% [47] - Adjusted EBITDA for the second quarter was $27.9 million, up 29% year-over-year, with a margin increase of 200 basis points to 24.6% [48] Business Line Data and Key Metrics Changes - Insights, the flagship digital forensic software, saw over 40% of the license base deployed by the end of the second quarter, with strong customer upgrades from legacy offerings [16][46] - Cloud and SaaS solutions now account for 20% of total ARR, reflecting over 50% growth in these offerings [47] - ARR for Guardian grew by more than 100% year-on-year for the fourth consecutive quarter, primarily from U.S. State and Local Government customers [17] Market Data and Key Metrics Changes - The Americas represented 54% of total ARR, with a growth rate of 24%, led by expansion within U.S. State and Local Government and Latin America [45] - EMEA experienced a 17% growth, while Asia Pacific saw a 21% increase in ARR [46] - The global defense and intelligence sector, which constituted approximately 25% of international ARR last year, is expected to see accelerated spending due to shifting budgetary priorities [18] Company Strategy and Development Direction - Celebrite's strategic direction focuses on enhancing its value proposition despite current spending challenges, with key performance indicators showing progress against 2025 priorities [16] - The company announced an agreement to acquire Keryllium, which is expected to accelerate innovation and expand the addressable market [19] - Celebrite aims to leverage AI across all functions to protect growth and innovation while maintaining disciplined spending [41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of federal spending, anticipating a resurgence of growth in 2026 due to recent legislation and budget allocations [64][37] - The company is optimistic about the macro tailwinds driving business expansion, despite short-term uncertainties in the U.S. Federal segment [35][39] - Management highlighted the importance of maintaining high retention rates, with renewals in the mid-90% range, indicating strong customer demand [62] Other Important Information - Celebrite ended the quarter with $558 million in cash and cash equivalents, an increase of $48 million from the previous quarter [50] - Free cash flow for the second quarter was $29 million, with a free cash flow margin of 25.6% [50] - The company plans to share additional details regarding Keryllium's financial performance in the Q3 results [51] Q&A Session Summary Question: Confidence levels regarding ongoing recovery in federal spending - Management expressed high confidence that once federal spending recovers, it will do so significantly, driven by increasing demand for their products [62][64] Question: Key drivers of retention rates and their relation to U.S. Federal spending - Management noted that while there were delays in some contracts, overall customer need is increasing, and they expect renewals to be higher than previous contracts [66][69] Question: Initial findings from the transition process and any changes in targets - The new CFO indicated a similar approach to financial modeling as his predecessor, focusing on growth-oriented investments and maintaining a detailed assessment of deals [74] Question: Signs of improved spending beyond the mentioned agency - Management highlighted strong coverage and pipeline in the federal segment, with indications of increased funding and interest in their solutions [77][79]