Business
Cellebrite Announces Second-Quarter 2023 Results
Revenues of $76.7 million, 23% year-over-year increase primarily due to 35% growth in subscription revenue; ARR of $273.7 million, up 28% year-over-year;
About this update from Cellebrite Di Ltd.
[{"type":"text","content":"Revenues of $76.7 million, 23% year-over-year increase primarily due to 35% growth in subscription revenue; ARR of $273.7 million, up 28% year-over-year; Adjusted EBITDA of $11.1 million, 14.5% Adjusted EBITDA margin; Company increases 2023 outlook for revenue, ARR and adjusted EBITDA TYSONS CORNER, Va. and PETAH TIKVA, Israel, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Cellebrite (NASDAQ: CLBT), a global leader in Digital Intelligence (“DI”) solutions for the public and private sectors, today announced financial results for the three and six months ending June 30, 2023. “We delivered an excellent second-quarter performance on all fronts,” said Yossi Carmil, Cellebrite’s CEO. “Overall, our market is healthy, our customer relationships remain strong, and our investment in powerful, customer-driven innovation and go-to-market activities enabled us to continue winning. Our second-quarter 2023 revenue growth demonstrates our ongoing success in expanding the scope of our relationships within the digital forensics units of our existing customers and our progress in extending our reach into their investigative units. The combination of strong revenue growth and disciplined spending enabled us to exceed our Adjusted EBITDA and cash generation targets entering the second quarter. Our increased outlook for 2023 reflect our solid momentum in a healthy market.” Second Quarter 2023 Financial Highlights Revenue of $76.7 million, up 23% year-over-yearSubscription revenue was $67.2 million, up 35% year-over-year Annual Recurring Revenue (ARR) of $273.7 million, up 28% year-over-yearRecurring revenue dollar-based net retention rate of 125%GAAP gross profit and gross margin of $63.7 million and 83.0%, respectively; Non-GAAP gross profit and gross profit margin of $64.1 million and 83.6%, respectivelyGAAP net loss of $(32.3) million; Non-GAAP net income of $10.7 millionGAAP Diluted loss per share of $(0.17); Non-GAAP Diluted EPS of $0.05Adjusted EBITDA and Adjusted EBITDA margin of $11.1 million and 14.5%, respectively Second Quarter 2023 and Recent Digital Intelligence Highlights In a separate announcement today, the Company appointed Thomas E. Hogan, a proven technology leader with a remarkable track record of success, as Executive Chairman of the Board of Directors.Cellebrite closed 25 large deals in the second quarter, each valued at $500,000 or more. ...