Cellebrite Di Ltd. · NASDAQ:CLBT
Cellebrite Di — Q2 2025 Earnings Presentation
41 slides from Cellebrite Di's earnings presentation, Aug 14, 2025
Slide 1: Investor Presentation
UPDATED:JULY 2025 INTRODUCTION TO CELLEBRITE INVESTOR PRESENTATION www.cellebrite.com 13 August 2025 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 DISCLAIMER securities, nor is it a solicitation of an offer to buy securities. This presentatio
Slide 3: Market Leadership
MARKET LEADERSHIP 3 $419M ARR (6/30/25) ~7,000 Global Customers 1.5M+ Serious crime legally-sanctioned investigations in 2024* #1 Solution for digital forensic examiners 1,216 Employees (6/30/25) * Based on internal research estimates www.cellebrite.com 13 August 2025 www.cellebrite.com © 2025 Celle
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, and enterprise customers to achieve their missions by helping them transform digital Businesses and data into actionable intelligence. Nations www.cellebrite.com 1
Slide 5: Addressing Customer Challenges
Addressing Customer Challenges www.cellebrite.com 13 August 2025 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 ↑ Number of Cases ↑ Criminal Technical o Static case closure rates Sophistication o Skills gap of agency staff o Escalating officer attrition & burnout ↑ Public Scrutiny o Funding challenges www.cellebrite.
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: AI-Powered Digital Investigation Platform
8 AI-POWERED DIGITAL INVESTIGATION PLATFORM INSEYETS PATHFINDER LAB & FIELD SOLUTION ANALYSIS & COLLABORATION SOLUTION COLLECT & REVIEW ANALYZE & INVESTIGATE Access & triage relevant evidence from Analyze vast amounts of data to create the widest array of data source and types actionable intelligenc
Slide 9: Cellebrite Digital Investigation Platform
CELLEBRITE DIGITAL INVESTIGATION PLATFORM 9 Removing Investigative Bottlenecks Purpose-built, AI-powered, Cloud-ready Inseyets Guardian Pathfinder Leave no Accelerate investigations Build the evidence behind securely complete picture From any service, over any device Elevating efficiency while estab
Slide 10: Our Customers Care About Time
OUR CUSTOMERS CARE ABOUT TIME 10 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 11: Leading Investigative AI Since 2016
LEADING INVESTIGATIVE AI SINCE 2016 11 Data Types Cellebrite AI Capabilities 50K IMAGES AND VIDEO IMAGE CLASSIFICATION & SIMILARITY 250 CHAT PARTIES, MILLIONS OF MESSAGES TOPIC DETECTION OVER 30 COMMUNICATION APPS TEXT TRANSLATION 120 HOURS OF VOICE SPEECH TO TEXT 10 TO 15 SOCIAL ACCOUNTS IDENTITY R
Slide 12: World-Class Customer Base
WORLD-CLASS CUSTOMER BASE 12 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 13: Protecting Communities, Nations and Businesses
Protecting Communities, Nations and Businesses Turn digital information into actionable intelligence to identify security risks, accelerate investigations and operations. Global Law Enforcement and Justice Defense and Intelligence Enterprise and Service Providers Customers Mobile Computers and Publi
Slide 14: © 2025 Cellebrite DI Ltd.
14 www.cellebrite.com 13 August 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 15: Cellebrite to Acquire Corellium
CELLEBRITE TO ACQUIRE CORELLIUM 15 Rationale: TAM Expansion and Innovation → Supporting growth vectors within and beyond our core markets → A leader in Arm-based Virtualization Software → Technology and expertise complements and augments CLBT Digital Investigation Portfolio → Privately held, based i
Slide 16: Supports Growth Vectors Within and Beyond Our Core Markets
SUPPORTS GROWTH VECTORS WITHIN AND BEYOND OUR CORE MARKETS 16 A Safer Digital → Will position Cellebrite to efficiently accelerate its mobile vulnerability research Investigation → Already partnering to deliver an industry-first capability to enhance our digital forensics offerings Solutions & More
Slide 17: Financial Review
Financial Review www.cellebrite.com 13 August 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 18: Results Highlights
RESULTS HIGHLIGHTS 18 Rule of X $96M $113M +18% 49 47 Q2 24 Total Revenue – Q2 25 $85M $103M +21% 23% Q2 24 Subscription Revenue – Q2 25 26% $346M $419M +21% JUNE 24 ARR –JUNE 25 26% 21% $22M 23% $28M 25% Q2 24 Adj. EBITDA & Adj. EBITDA %* – Q2 25 TTM 6/24 TTM 6/25 ARR Growth Adj. EBITDA Margin * No
Slide 19: Sustainable ARR Growth
SUSTAINABLE ARR GROWTH 19 $408 $419 $396 $371 $346 $332 ARR ($M) Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 % Total ARR Growth (Y/Y) 27% 26% 26% 25% 23% 21% www.cellebrite.com 13 August 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 20: ARR Composition
ARR COMPOSITION (FOR THE 12-MONTH PERIOD ENDING JUNE 30, 2025) 20 Digital Product Category Inseyets Forensics Inseyets Guardian + Pathfinder Customer Type Evidence Guardian Management Public Sector Private Sector Deployment Option Investigative On Premises Pathfinder Analytics Cloud www.cellebrite.c
Slide 21: ARR Growth
ARR GROWTH ($ IN MILLIONS) 21 $418.9 $345.9 → June-25 ARR grew 21% → Gross revenue retention ~91% → Existing customer expansion fuels most of the ARR growth JUNE-24 JUNE-25 Pathfinder & Guardian Families Inseyets Family JUNE-24 www.cellebrite.com 13 August 2025 www.cellebrite.com © 2025 Cellebrite D
Slide 22: Expanding Wallet Share with Customers: Q225 Success
EXPANDING WALLET SHARE WITH CUSTOMERS: Q225 SUCCESS 22 $103M • Goal: Improve situational awareness and decision making National • Deploying Pathfinder to enable digitization and automation for unified, integrated (Gross New ARR) Military intelligence operations (EMEA) • 50% increase in ARR Pathfinde
Slide 23: ARR Growth by Geography & ARR Geographic Mix
ARR GROWTH BY GEOGRAPHY & ARR GEOGRAPHIC MIX 23 ARR BY $215 $221 $226 $199 GEOGRAPHY $174 $183 ($ in millions) $134 $137 $142 $126 $119 $121 $46 $47 $50 $51 $39 $42 Q124 Q224 Q324 Q424 Q125 Q225 Q124 Q224 Q324 Q424 Q125 Q225 Q124 Q224 Q324 Q424 Q125 Q225 AMERICAS EMEA APAC JUNE-25 GROWTH: +24% JUNE-
Slide 24: Investing in Our Future
INVESTING IN OUR FUTURE 24 SUSTAIN HEALTHY PRUDENT INVESTMENT SOFTWARE 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, %) 64% 62% 84% 85% 60% 84% 68% 63% 58% 84% 86% 86% $68.8 $70
Slide 25: Cash Position
CASH POSITION 25 CASH & INVESTMENTS ($ in millions) $557.8 $483.8 $509.8 $146.1 $153.7 $177.8 $331.8 $74.7 $232.6 $205.7 $67.6 $138.4 $241.6 $51.3 $66.8 $189.5 $191.7 $179.2 $87.6 $90.5 2022 2023 2024 Q125 Q225 Cash & Cash Equivalents Short-Term & Long-Term Marketable Securities Deposits Note: Numbe
Slide 26: Free Cash Flow and Free Cash Flow Margin
FREE CASH FLOW AND FREE CASH FLOW MARGIN 26 $ in millions 34.4% FCF and FCF margin 25.0% have increased each quarter for the TTM $150.1 ended 6/30/25 $90.7 $62.8 $41.6 $39.8 $28.1 $29.0 $8.5 $12.4 $18.5 Q323 Q423 Q124 Q224 Prior Q324 Q424 Q125 Q225 TTM TTM 66% GROWTH IN FREE CASH FLOW DRIVES FREE CA
Slide 27: Weighted Average Shares Outstanding (Basic)
WEIGHTED AVERAGE SHARES OUTSTANDING (BASIC) 27 196.7 198.9 208.7 233.2 237.2 240.3 22.0 3.5 3.1 Majority of merger-related 0.7 instruments issued in FY24-Q3 7.4 2.5 1.0 2.2 2.4 233.0 237.2 Exercisable equity contracted from 195.7 196.7 198.9 208.7 9.9M to 3.9M over the last 12 months Expecting WASO
Slide 28: Financial Forecast
FINANCIAL FORECAST 28 Q3 ‘25 FY ‘25 2024A EXPECTATIONS EXPECTATIONS (AS OF 08/14/25) (AS OF 08/14/25) ARR $396M $435M - $445M $460M - $475M ARR Growth (y/y) +25% +17% - +20% +16% - +20% Revenue $401M $121M - $126M $465M - $475M Revenue Growth (y/y) +23% +13% - +18% +16% - +18% Adjusted EBITDA* $99.4
Slide 29: Summary
SUMMARY 29 → A healthy market with powerful tailwinds → Disruptive technology elevates productivity and efficiency → 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 X baseline performa
Slide 30: Appendix: Financial
Appendix Financial www.cellebrite.com 13 August 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 31: Use of Non-GAAP Financial Information
USE OF NON-GAAP FINANCIAL INFORMATION 31 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 32: Cost of Revenue and Gross Profit Reconciliation
COST OF REVENUE AND GROSS PROFIT 32 RECONCILIATION FY22, FY23, FY24 BY QUARTER AND FY25 BY QUARTER ‐ www.cellebrite.com 13 August 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 33: Operating Expense & Operating Income Reconciliation
OPERATING EXPENSE & OPERATING INCOME 33 RECONCILIATION FY22, FY23, FY24 BY QUARTER AND FY25 BY QUARTER ‐ www.cellebrite.com 13 August 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 34: Net Income & Adjusted EBITDA Reconciliation
NET INCOME & ADJUSTED EBITDA 34 RECONCILIATION FY22, FY23, FY24 BY QUARTER AND FY25 BY QUARTER ‐ www.cellebrite.com 13 August 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 35: Free Cash Flow and Free Cash Flow Margin Reconciliation
FREE CASH FLOW AND FREE CASH FLOW MARGIN 35 RECONCILIATION FY22, FY23, FY24 BY QUARTER AND FY25 BY QUARTER www.cellebrite.com 13 August 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 36: Definitions
DEFINITIONS 36 → 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 37: Market Trends, Drivers & Opportunities
Appendix Market Trends, Drivers & Opportunities www.cellebrite.com 13 August 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 38: 1. Complexity & Volume
1. COMPLEXITY & VOLUME 38 90% 66% 77% +76% Of crimes have a of agency managers have % of locked phones % of examiners who digital component1 noted a 76% growth in that reach the lab2 believe they lack the digital data from devices tools they need2 over the past three years2 Sources: (1) Policing: A
Slide 39: 2. Inefficient Processes
2. INEFFICIENT PROCESSES 39 69 80% 71% HOURS 3 to 4 per case WEEKS Of Investigators conduct This increasing workload Examiners consistently % of investigators report lacking daily online searches – a highlights the need for optimized report 3 to 4 weeks of the necessary tools to easily process that
Slide 40: 3. Ethics & Accountability
3. ETHICS & ACCOUNTABILITY 40 48% 30+ U.S. States 68% Of examiners have 60% of investigators rely on Passed police reform Of investigative teams advanced or extensive outdated methods, such as and oversight bills do not have time to formal training , highlighting USB sticks, to share forensic since
Slide 41: AI & The Cloud
AI & THE CLOUD 41 agree AI can accelerate agree that AI reduces acknowledge AI’s large-volume data analysis3 human error and prioritizes investigative improvements3 evidence 3 www.cellebrite.com 13 August 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.