Slide 1: Q2 '23 Results Call
2." Cellebrite Q2 ‘23 Results Call August 8, 2023
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Cellebrite DI Ltd, [the “Company’] solely for informational purposes. It is not, and should not be assumed to be, complete. This presentation is not an offer to sell securities, nor is ita solicitation of an offer to buy securities, This presentation
Slide 3: Agenda
Agenda 1 Q2 ‘23 Results Highlights Market Dynamics & Recent Highlights Customer Success Outlook Financial Review
Slide 4: Q2 '23 Results Highlights
Q2 ‘23 Results Highlights Revenue = : Q2 22 Q2 23 Subscription Revenue + 29 Deals > $500K Annual Recurring Revenue 28% $214M _” Jun-22 $274M Jun-23 xp 125% Net Retention Rate
Slide 5: Market Dynamics and Recent Highlights
Market Dynamics and Recent Highlights SS OS Ry Customer Healthy Market Strategic Progress Relationships Environment & Achievements
Slide 6: Q2 '23 Customer Success
Q2 ‘23 Customer Success Premium. Pathfinder. Large NA Federal Law Enforcement Agency + Major Premium expansion along with an initial Pathfinder engagement + Centralizes digital forensic capabilities and supercharges investigative capabilities + ARR nearly tripled to ~$5m 2 UFED. Premium. Pathfinder.
Slide 7: Well positioned to help customers convert major pain points into advantages
Well positioned to help customers convert major pain points into advantages = Complexity and volume of digital data = Inefficient workflows = Greater public scrutiny on the ethics and accountability of law enforcement operations Based on our results to date and the trajectory of our business for the
Slide 8: Financial Review
7 iF Cellebrite FINANCIAL REVIEW
Slide 9: Total Revenue and Subscription Revenue growth
Total Revenue +23% growth Total Subscription Revenue +35% growth * Other non-recurring revenue is composed of hardware sales, usage fees and perpetual licenses, and was previously referred to “Perpetual license and other.” Changing the name for this type of revenue reflects that perpetual license re
Slide 10: Total ARR bridge Jun 2022 to Jun 2023
10 ($20.5) $4.9 $64.5 $4.9 $5.7 $273.7 $214.2 Jun 2022 Total ARR New Price Transition Expansion Churn licenses Jun 2023 Total ARR Logo Land Increases to Term License
Slide 11: Cost of Goods Sold and Operating Expenses (Non-GAAP)
Cost of Goods Sold (Non-GAAP, $M) Operating Expenses (Non-GAAP, $M) and Gross Margin (Non-GAAP, %) and Operating Expense Margin (Non-GAAP, %) 14.2 54.1 53.6 54.7 12.8 12.6 49.0 50.8 47.8 11.8 12.0 10.7 969 1,004 966
Slide 12: Cash Position and Adjusted EBITDA
Cash Position Adjusted EBITDA (Non-GAAP, $M) and Adjusted EBITDA Margin (Non-GAAP, %) +$23M from Q1 23
Slide 13: Financial Forecast
Financial Forecast Original Updated 2023 Expectations 2023 Expectations 2022A (first issued on 2/15/23) (as of 8/8/23) Revenue $271M $305M - $315M $310M - $320M Revenue Growth [y/y) +10% +13% - +$16% +15% - +18% ARR $249M $300M - $310M $303M - $313M ARR Growth [y/y) +33% +21% - +25% +22% - +26% Gros
Slide 14: iF Cellebrite
iF Cellebrite
Slide 15: Appendix
iF Cellebrite APPENDIX
Slide 16: Thank you
2° Cellebrite Thank you
Slide 17: Financial Summary Q2 '23
Financial Summary Q2 ‘23 For the three months ended For the six months ended June 30, June 30, 2023 2022 2023 2022 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue 76,684 62,573 147,918 124,958 Gross profit 63,653 49,475 122,481 100,877 Gross margin 83.0% 79.1% 82.8% 80.7% Operating income (l
Slide 18: Reconciliation Q2 '23: Cost of Revenue and Gross Profit
Reconciliation Q2 ‘23 Cost of Revenue and Gross Profit For the three months ended For the six months ended June 30, June 30, 2023 2022 2023 2022 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Cost of revenues S 13,031 $ 13,098 $ 25,437 $ 24,081 Less: Share based compensation 414 339 800 585 Acquisi
Slide 19: Reconciliation Q2 '23: Operating Expenses and Operating Income
Operating expenses Less: Issuance expenses Share based compensation Amortization of intangible assets Acquisition related costs Non-GAAP operating expenses Operating income (loss) Issuance expenses Share based compensation Amortization of intangible assets Acquisition related costs Non-GAAP operatin
Slide 20: Reconciliation Q2 '23: Net Income and EPS
Reconciliation Q2 ‘23 Net Income and EPS Net (loss) income Issuance expenses One time tax income Share based compensation Amortization of intangible assets Acquisition related costs Tax expense (income) Finance expense (income) from financial derivatives Non-GAAP net income (loss) Non-GAAP Earnings
Slide 21: Reconciliation Q2 '23: Adjusted EBITDA
Reconciliation Q2 ‘23 Adjusted EBITDA For the three months ended For the six months ended June 30, June 30, 2023 2022 2023 2022 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net (loss) income $ (32,348) $ 33,197 $ (72,953) $ 88,635 Issuance expenses (345) - (345) - Financial expense (income), net
Slide 22: Definitions
Definitions 1. Annual Recurring Revenue: Annual recurring revenue (“ARR”) is defined as the annualized value of active term-based subscription license contracts and maintenance contracts related to perpetual licenses in effect at the end of that period. Subscription license contracts and maintenance