Business
Cellebrite Announces Second-Quarter 2024 Results
Revenue of $95.7 million, 25% year-over-year increase primarily due to27% growth in subscription revenue;ARR of $345.9 million, up 26% year-over-year;Adjusted
About this update from Cellebrite Di Ltd.
[{"type":"text","content":"Revenue of $95.7 million, 25% year-over-year increase primarily due to27% growth in subscription revenue;ARR of $345.9 million, up 26% year-over-year;Adjusted EBITDA of $21.6 million, 22.6% adjusted EBITDA margin;Company increases 2024 outlook for revenue and adjusted EBITDA, and raises midpoint for ARR TYSONS CORNER, Va. and PETAH TIKVA, Israel, Aug. 15, 2024 (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, 2024. “Our outstanding second-quarter 2024 performance was highlighted by significant strategic progress and strong growth in ARR, revenue and adjusted EBITDA,” said Yossi Carmil, Cellebrite’s CEO. “During the past several months, we delivered against our top strategic priorities while advancing important initiatives to expand our relationship with the U.S. federal government, drive AI-powered innovation across our Case to Closure platform, and improve our capital structure and trading liquidity. We are pleased to see that our Case to Closure platform is resonating with both public sector agencies and corporations around the world, enabling us to deliver on our brand promise of Justice Accelerated and, in the process, help make our world a better, safer place. As a result of our first-half 2024 financial performance and the opportunities we see over the next two quarters, we have increased our full-year 2024 outlook and believe that we are positioned to deliver an ARR growth rate and an adjusted EBITDA margin that will achieve or surpass ‘Rule of 45’ for the second straight year.” Second-Quarter 2024 Financial Highlights Revenue of $95.7 million, up 25% year-over-yearSubscription revenue was $85.4 million, up 27% year-over-yearAnnual Recurring Revenue (ARR) of $345.9 million, up 26% year-over-yearRecurring revenue dollar-based net retention rate of 124%GAAP gross profit and gross margin of $79.5 million and 83.0%, respectively; Non-GAAP gross profit and gross profit margin of $80.1 million and 83.7%, respectivelyGAAP net loss of $23.8 million; Non-GAAP net income of $22.9 millionGAAP diluted loss per share of $(0.12); Non-GAAP diluted EPS of $0.10Adjusted EBITDA and adjusted EBITDA margin of $21.6 million and 22.6%, respectively Second-Quarter 2024 and Recen...