Cellebrite Di Ltd. · NASDAQ:CLBT
Cellebrite Di — Q4 2025 Earnings Presentation
39 slides from Cellebrite Di's earnings presentation, Feb 11, 2026
Slide 1: Investor Presentation
UPDATED: FEBRUARY 2026 INTRODUCTION TO CELLEBRITE INVESTOR PRESENTATION www.cellebrite.com February 11, 2026 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 2: 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 it a DISCLAIMER solicitation of an offer to buy securities. This presentatio
Slide 3: Market Leadership
MARKET LEADERSHIP 3 $481M ARR (12/31/25) ~7,000 Global Customers 1.5M+ Serious crime legally-sanctioned investigations in 2025* #1 Solution for digital forensic examiners 1,285 Employees (12/31/25) * Based on internal research estimates www.cellebrite.com February 11, 2026 www.cellebrite.com © 2025
Slide 4: Our Mission
OUR MISSION 4 Protecting Innovating for a Safer World We empower more than 7,000 law Communities, enforcement, defense and intelligence agencies, and enterprises around the Nations and globe to achieve their mission by helping them transform digital data into actionable intelligence. Businesses. www
Slide 5: Addressing Customer Challenges
Addressing Customer Challenges www.cellebrite.com February 11, 2026 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 6: The Rising Public Safety Gap: Powerful Macro Tailwinds
THE RISING PUBLIC SAFETY GAP: POWERFUL MACRO TAILWINDS 6 ↑ Digital Evidence Public Safety Gap ↑ Case Load (data volumes and cases) ↑ Criminal Technical o Static case closure rates Sophistication o Skills gap of agency staff o Escalating officer attrition & burnout ↑ Public Scrutiny o Funding challen
Slide 7: Powerful Demand Drivers
POWERFUL DEMAND DRIVERS 7 Public Safety Gap Three Major Challenges Data Volume Inefficient Ethics & & Complexity Processes Accountability → Constant crime rate and an increasing → Static case closure rates → Ever-increasing public scrutiny population* (leading to higher case load) → Skills gap of ag
Slide 8: Finding the Signal Through the Noise
FINDING THE SIGNAL THROUGH THE NOISE 8 Virtually all crime has a digital component Increasing data volume and complexity limit investigative speed & efficiency Data Types Cellebrite AI Capabilities 50K IMAGES AND VIDEO IMAGE CLASSIFICATION & SIMILARITY 250 CHAT PARTIES, MILLIONS OF MESSAGES TOPIC DE
Slide 9: Our Customers Care About Time
OUR CUSTOMERS CARE ABOUT TIME 9 Cellebrite Delivers Time-to-Data → Faster access to more devices. Extraction of more data. Time-to-Insights → Faster examinations. More actionable, high-value information. Time-to-Collaboration → Greater efficiency and productivity. Time-to-Evidence → Faster analysis.
Slide 10: Removing Bottlenecks to Safeguard Nations, Communities & Businesses
REMOVING BOTTLENECKS TO SAFEGUARD NATIONS, COMMUNITIES & BUSINESSES 10 NEW Cellebrite AI 2026 Inseyets Guardian Guardian Pathfinder Corellium Forensics Investigate Falcon / Viper COLLECT & REVIEW MANAGE & SAFEGUARD ANALYZE & INVESTIGATE TEST & IDENTIFY → Hybrid platform for access, → Control digital
Slide 11: World-Class Customer Base
WORLD-CLASS CUSTOMER BASE 11 PUBLIC SECTOR PRIVATE SECTOR 3000+ 15/15 72/100 North American U.S. cabinet executive Of The state and local departments Fortune 100 accounts 50/50 U.S. states 100+ North American federal accounts 10/10 of Top 10 accounting firms 20/20 Police departments in the 20 larges
Slide 12: Acquisition of Corellium
ACQUISITION OF CORELLIUM 12 Rationale: TAM Expansion and Innovation → Technology and expertise complements and augments CLBT Digital Investigation Portfolio → Supporting growth vectors within and beyond our core → A leader in Arm-based markets Virtualization Software → Broadens offerings for Defense
Slide 13: Multiple Growth Levers
MULTIPLE GROWTH LEVERS 13 Growth Levers Public Sector → Law Enforcement → Defense & Intelligence Private Sector → Enterprises → Service Providers Improved New Digital Investigations Retention Logos Corellium and Analytics Inseyets www.cellebrite.com February 11, 2026 www.cellebrite.com © 2025 Celleb
Slide 14: Financial Review
Financial Review www.cellebrite.com February 11, 2026 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 15: Results Highlights
RESULTS HIGHLIGHTS 15 Rule of X $109M $129M +18% 56 55 Q4 24 TOTAL REVENUE – Q4 25 $95M $115M +21% 31% 34% Q4 24 SUBSCRIPTION REVENUE – Q4 25 $396M $481M +21% ARR – DEC 2024 ARR – DEC 2025 25% 21% $29M 26% $38M 30% Q4 24 Adj. EBITDA & Adj. EBITDA %* – Q4 25 FY 24 FY 25 ARR Growth FCF Margin * Non-GA
Slide 16: Sustainable ARR Growth
SUSTAINABLE ARR GROWTH 16 $481 $440 $408 $419 $396 ARR ($M) Dec-24 Mar-25 Jun-25 Sep-25 Dec-25* % Total ARR Growth (Y/Y) 25% 23% 21% 19% 21% * Includes $16.1M in ARR from Corellium www.cellebrite.com February 11, 2026 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 17: ARR Growth ($ in Millions)
ARR GROWTH ($ IN MILLIONS) 17 $480.8 → Dec-25 ARR grew 21% with organic expansion of 17% $395.9 → Gross revenue retention ~91% → Existing customer expansion fuels most of the organic ARR growth Dec-24 Dec-25 Guardian, Pathfinder & Corellium Families Inseyets Product Family Dec '24 www.cellebrite.com
Slide 18: Expanding Wallet Share: Q4 Highlights
EXPANDING WALLET SHARE: Q4 HIGHLIGHTS 18 National Law $119M • Goal: Elevate digital forensics capabilities and investigative analytics Enforcement • Converted to Inseyets with unlimited unlocks; added automation capability and deepened use of Pathfinder around the country (Gross New ARR) Agency • 50
Slide 19: ARR Growth by Geography & ARR Geographic Mix
ARR GROWTH BY GEOGRAPHY & ARR GEOGRAPHIC MIX 19 ARR BY $256 $240 GEOGRAPHY $215 $221 $226 ($ in millions) $166 $142 $147 $134 $136 $50 $51 $52 $58 $47 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 AMERICAS EMEA APAC DEC-25 GROWTH: +19% DEC-25 GROWTH: +24%
Slide 20: Investing in Our Future
INVESTING IN OUR FUTURE 20 HEALTHY SOFTWARE PRUDENT INVESTMENT GROSS MARGIN TO SUPPORT GROWTH Cost of Goods Sold (Non-GAAP, $M) and Operating Expense (Non-GAAP, $M) and Gross Margin (Non-GAAP, %) Operating Expense Margin (Non-GAAP, %) 85.0% 85.1% 62.0% 59.7% 85% 58% 86% 64% 62% 56% 84% 85% 58% 60% 8
Slide 21: Cash Position
CASH POSITION 21 CASH & INVESTMENTS Acquired Corellium ($ in millions) for ~$150M in cash $595.3 $557.8 $535.0 $483.8 $509.8 $127.2 $146.1 $161.0 $153.7 $177.8 $331.8 $186.7 $74.7 $232.6 $205.7 $138.4 $249.5 $67.6 $241.6 $51.3 $66.8 $281.4 $189.5 $191.7 $179.2 $87.6 $90.5 $124.5 FY 22 FY 23 FY 24 Q1
Slide 22: Free Cash Flow and Free Cash Flow Margin
FREE CASH FLOW AND FREE CASH FLOW MARGIN 22 $ in millions 33.7% 30.8% 29.8% $160.3 $123.6 $96.8 5.1% $13.7 FY 22 FY 23 FY 24 FY 25 34% FREE CASH FLOW MARGIN IN FY25 REFLECTS STRONG OPERATING CASH GENERATION WITH MINIMAL CAPITAL INTENSITY 1 Defined as cash flow provided by operations less capital exp
Slide 23: Weighted Average Shares Outstanding – Basic
WEIGHTED AVERAGE SHARES OUTSTANDING – BASIC 23 196.7 198.9 208.7 233.2 237.2 240.3 243.5 245.3 3.5 Majority of merger-related 13.7 0.5 0.5 instruments issued in FY24-Q3 0.7 2.0 7.4 1.2 1.0 0.6 1.2 233.0 238.3 243.0 244.8 Exercisable options contracted from 218.3 7.8M to 3.3M over the last 12 months
Slide 24: Financial Forecast
FINANCIAL FORECAST 24 FY26-Q1 FY26 FY25 EXPECTATIONS EXPECTATIONS (AS OF 2/11/26) (AS OF 2/11/26) ARR $481M $491M – $493M $567M – $573M ARR Growth (y/y) +21% +20% – +$21% +18% – +19% Revenue $476M $126M – $128M $565M – $571M Revenue Growth (y/y) +19% +18% – +20% +19% – +20% Adjusted EBITDA* $127.6M
Slide 25: Summary
SUMMARY 25 → A healthy market with powerful tailwinds → Purpose-built technology elevates productivity and efficiency in public safety → End-to-end platform for the public and private sector → AI-powered and cloud-ready solutions → Increasing wallet share with diverse, global customer base → Rule of
Slide 26: Appendix: Financial
Appendix Financial www.cellebrite.com February 11, 2026 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 27: Use of Non-GAAP Financial Information
USE OF NON-GAAP FINANCIAL INFORMATION 27 This presentation includes non-GAAP financial measures. Cellebrite believes that the use of non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating income, non-GAAP operating income margin, non-GAAP net income, non-GAA
Slide 28: Organic ARR (Excluding ARR Related to Acquisitions) Reconciliation
ORGANIC ARR (EXCLUDING ARR RELATED TO ACQUISITIONS) 28 RECONCILIATION FY22, FY23, FY24 BY QUARTER AND FY25 BY QUARTER www.cellebrite.com February 11, 2026 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 29: Cost of Revenue and Gross Profit Reconciliation
COST OF REVENUE AND GROSS PROFIT 29 RECONCILIATION FY22, FY23, FY24 BY QUARTER AND FY25 BY QUARTER www.cellebrite.com February 11, 2026 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 30: Operating Expense & Operating Income Reconciliation
OPERATING EXPENSE & OPERATING INCOME 30 RECONCILIATION FY22, FY23, FY24 BY QUARTER AND FY25 BY QUARTER www.cellebrite.com February 11, 2026 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 31: Net Income & Adjusted EBITDA Reconciliation
NET INCOME & ADJUSTED EBITDA 31 RECONCILIATION FY22, FY23, FY24 BY QUARTER AND FY25 BY QUARTER www.cellebrite.com February 11, 2026 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 32: Free Cash Flow and Free Cash Flow Margin Reconciliation
FREE CASH FLOW AND FREE CASH FLOW MARGIN 32 RECONCILIATION FY22, FY23, FY24 BY QUARTER AND FY25 BY QUARTER www.cellebrite.com February 11, 2026 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 33: Definitions
DEFINITIONS 33 → Annual Recurring Annual recurring revenue (ARR) is defined as the annualized value of active Revenue 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
Slide 34: Appendix: Market Trends, Drivers & Opportunities
Appendix Market Trends, Drivers & Opportunities www.cellebrite.com February 11, 2026 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 35: The Value of Digital Evidence
THE VALUE OF DIGITAL EVIDENCE 35 95% 97% 83% 83% 97% 74% 90% 73% 2024 2025 2026 2024 2025 2026 Of crimes have a Rising Confidence in Say digital evidence is expected Investigators are seeing digital component1 Digital Evidence & be used in every case2 smartphones more Case Solvability2 often in case
Slide 36: 1. Complexity & Volume
1. COMPLEXITY & VOLUME 36 94% 56% +76% % of respondents who say the of agency managers have % of locked phones Agencies continue to complexity of digital evidence noted a 76% growth in that reach the lab1 encounter an average of has increased1 digital data from devices 2 to 5 phones per case1 over t
Slide 37: 2. Inefficient Processes
2. INEFFICIENT PROCESSES 37 Average Data Delivery Timeframe 50% 36% 6-10 Active cases 14% 71% at one time 68% <1 week 1-4 weeks >1 month Of Investigators say the Investigators are juggling ~10 weeks of Delivery timelines remain time it takes to review investigative work at any given time. 1 extended
Slide 38: 3. Ethics & Accountability
3. ETHICS & ACCOUNTABILITY 38 71% 30+ U.S. States 68% Of managers report Nearly 70% of respondents Passed police reform Of investigators say inadequate training as a rely on physical storage, and oversight bills the time required to major challenge.1 such as portable hard drives since 20202 review d
Slide 39: AI & The Cloud
AI & THE CLOUD 39 Receptiveness to Using Cloud for Digital Evidence 38% 42% 35% 65% 78% 59% 2024 2025 2026 of respondents who believe say that better investigative Agencies are becoming more say they are using or that AI can accelerate tools would alleviate open to using the cloud for digital active