Business
Cellebrite Announces Third Quarter 2022 Results
ARR of $232 million, up 35% year-over-year Third Quarter revenue of $71.7 million, Increase 9% year-over-year PETAH TIKVA, Israel and TYSONS CORNER, Va., Nov.
About this update from Cellebrite Di Ltd.
[{"type":"text","content":"ARR of $232 million, up 35% year-over-year Third Quarter revenue of $71.7 million, Increase 9% year-over-year PETAH TIKVA, Israel and TYSONS CORNER, Va., Nov. 17, 2022 (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 nine months ending September 30, 2022. “We are pleased to report a solid third quarter, delivering strong ARR growth as we continue to execute on our full-year targets set forth last quarter. The demand we are seeing in the market demonstrates that our innovative solutions are highly relevant as public safety organizations and private enterprises recognize the need to modernize their investigative workflow in the face of the ever-growing digital sophistication of crimes and evidence. We are particularly proud of our best-in-class retention rates which prove that our go to market strategy is bearing fruit,” said Yossi Carmil, Cellebrite’s CEO. “We have made progress on the initiatives we outlined last quarter, and we remain excited about the opportunity in front of us as we pursue our mission to protect and save lives, accelerate justice and preserve privacy.” Third Quarter Financial Highlights Revenue of $71.7 million, up 9% year-over-year, of which subscription revenue was $55.6 million, up 8% year-over-yearAnnual Recurring Revenue (ARR) of $232 million, up 35% year-over-yearRecurring revenue dollar-based net retention rate of 129%GAAP gross profit and gross margin of $57.1 million and 79.7%, respectivelyGAAP net income of $25.1 million; Non-GAAP net income of $3.0 millionGAAP Diluted EPS of $0.13; Non-GAAP Diluted EPS of $0.01Adjusted EBITDA and Adjusted EBITDA margin of $5.1 million and 7.0%, respectively Third Quarter and Recent Digital Intelligence Highlights Closed 25 key deals, each valued at $500,000 or more.Released the next generation of Cellebrite Guardian which provides critical features aiding law enforcement in handling digital evidence in an ethical way, including storing, managing, and sharing evidence, with unmatched instant review of digital evidence. Additional enhancements create increased flexibility for law enforcement and help them secure privacy to address key pain points in the investigative workflow, including physical duplication, transportation of ...