Slide 1: Introduction to Cellebrite Investor Presentation
UPDATED: NOVEMBER 2025 INTRODUCTION TO CELLEBRITE INVESTOR PRESENTATION www.cellebrite.com 11 November 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 $440M ARR (9/30/25) ~7,000 Global Customers 1.5M+ Serious crime legally-sanctioned investigations in 2024* #1 Solution for digital forensic examiners 1,236 Employees (9/30/25) * Based on internal research estimates www.cellebrite.com 11 November 2025 www.cellebrite.com © 2025 Cel
Slide 4: Protecting Communities, Nations and Businesses
4 Protecting Innovating for a Safer World We empower more than 7,000 Public Communities, Safety, Enterprise and Government customers to achieve their mission by Nations and helping them transform digital data into actionable intelligence. Businesses. www.cellebrite.com 11 November 2025 www.cellebrit
Slide 5: Addressing Customer Challenges
Addressing Customer Challenges www.cellebrite.com 11 November 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 ↑ 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: Our Customers Care About Time
OUR CUSTOMERS CARE ABOUT TIME 8 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 9: Removing Investigative Bottlenecks
REMOVING INVESTIGATIVE BOTTLENECKS 9 DIGITAL DIGITAL INVESTIGATIONS FORENSICS & ANALYTICS Cellebrite AI 2026 Inseyets Guardian Guardian Pathfinder Forensics Investigate COLLECT & REVIEW MANAGE & SAFEGUARD ANALYZE & INVESTIGATE → On premise and cloud-based offerings for access, → Control digital fore
Slide 10: Leading Investigative AI
LEADING INVESTIGATIVE AI 10 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 RESOLUTION w
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: 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 13: © 2025 Cellebrite DI Ltd.
13 www.cellebrite.com 11 November 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 14: Cellebrite to Acquire Corellium
CELLEBRITE TO ACQUIRE CORELLIUM 14 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 15: A Safer Digital Investigation & More Secure Mobile World
SUPPORTS GROWTH VECTORS WITHIN AND BEYOND OUR CORE MARKETS 15 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 16: Multiple Growth Levers
MULTIPLE GROWTH LEVERS 16 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 11 November 2025 www.cellebrite.com © 2025 Cellebr
Slide 17: Financial Review
Financial Review www.cellebrite.com 11 November 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 18: Results Highlights
RESULTS HIGHLIGHTS 18 Rule of X $107M $126M +18% 50 45 Q3 24 TOTAL REVENUE – Q3 25 $93M $113M +21% 24% Q3 24 SUBSCRIPTION REVENUE – Q3 25 26% $371M $440M +19% ARR – SEP 2024 ARR – SEP 2025 26% 19% $31M 29% $38M 30% Q3 24 Adj. EBITDA & Adj. EBITDA %* – Q3 25 TTM 9/24 TTM 9/25 ARR Growth Adj. EBITDA M
Slide 19: Sustainable ARR Growth
SUSTAINABLE ARR GROWTH 19 $440 $408 $419 $396 $371 ARR ($M) Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 % Total ARR Growth (Y/Y) 26% 25% 23% 21% 19% www.cellebrite.com 11 November 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 20: ARR Composition
ARR COMPOSITION (FOR THE 12-MONTH PERIOD ENDING SEPTEMBER 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.cellebr
Slide 21: ARR Growth
ARR GROWTH ($ IN MILLIONS) 21 $439.8 $370.8 → Sep-25 ARR grew 19% → Gross revenue retention ~91% → Existing customer expansion fuels most of the ARR growth SEP-24 SEP-25 Pathfinder & Guardian Families Inseyets Family SEP-24 www.cellebrite.com 11 November 2025 www.cellebrite.com © 2025 Cellebrite DI
Slide 22: Expanding Wallet Share with Customers: Q325 Success
EXPANDING WALLET SHARE WITH CUSTOMERS: Q325 SUCCESS 22 $101M • Goal: Upgrade intelligence capabilities and military readiness Intelligence • Expanded Inseyets Offline with unlimited unlocks to further modernize their ability (Gross New ARR) Agency to quickly examine digital devices (Asia-Pacific) •
Slide 23: ARR Growth by Geography & ARR Geographic Mix
ARR GROWTH BY GEOGRAPHY & ARR GEOGRAPHIC MIX 23 $240 ARR BY $215 $221 $226 $199 GEOGRAPHY $174 $183 ($ in millions) $147 $134 $137 $142 $119 $121 $126 $46 $47 $50 $51 $52 $39 $42 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q124 Q224 Q324 Q424 Q125 Q225 Q325 AMERICAS EMEA AP
Slide 24: Investing in Our Future
INVESTING IN OUR FUTURE 24 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% 64% 62% 56% 84% 85% 60% 84% 68% 63% 58% 84% 86% 86% $19.5 $68
Slide 25: Cash Position
CASH POSITION 25 CASH & INVESTMENTS ($ in millions) $595.3 $557.8 $483.8 $509.8 $127.2 $146.1 $153.7 $177.8 $331.8 $186.7 $74.7 $232.6 $205.7 $138.4 $67.6 $241.6 $51.3 $66.8 $281.4 $189.5 $191.7 $179.2 $87.6 $90.5 2022 2023 2024 Q125 Q225 Q325 Cash & Cash Equivalents Short-Term & Long-Term Marketabl
Slide 26: Free Cash Flow and Free Cash Flow Margin
FREE CASH FLOW AND FREE CASH FLOW MARGIN 26 $ in millions 30.8% 26.6% Strong FCF margin reflects 39% increase in cash flow provided by operating activities while operating a $140.3 minimally capital-intensive business (~3% of TTM $102.4 revenue for 9/30/25) Prior TTM (9/30/24) TTM (9/30/25) 37% GROW
Slide 27: Weighted Average Shares Outstanding – Basic
WEIGHTED AVERAGE SHARES OUTSTANDING – BASIC 27 196.7 198.9 208.7 233.2 237.2 240.3 243.5 3.5 Majority of merger-related 13.7 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 Exercisable equity contracted from 218.3 9.3M to 3.3M over the last 12 months 195.7 198.3 200.1
Slide 28: Financial Forecast
FINANCIAL FORECAST 28 Q4 ‘25 FY ‘25 2024A EXPECTATIONS EXPECTATIONS (AS OF 11/12/25) (AS OF 11/12/25) ARR $396M -- $460M - $475M ARR Growth (y/y) +25% -- +16% - +20% Revenue $401M $123M - $128M $470M - $475M Revenue Growth (y/y) +23% +13% - +17% +17% - +18% Adjusted EBITDA* $99.4M $35M - $38M $124M
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 11 November 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 BY QUARTER, FY24 BY QUARTER AND FY25 BY QUARTER ‐ www.cellebrite.com 11 November 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 33: Operating Expense & Operating Income Reconciliation
OPERATING EXPENSE & OPERATING INCOME 33 RECONCILIATION FY22, FY23 BY QUARTER, FY24 BY QUARTER AND FY25 BY QUARTER ‐ www.cellebrite.com 11 November 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 34: Net Income & Adjusted EBITDA Reconciliation
NET INCOME & ADJUSTED EBITDA 34 RECONCILIATION FY22, FY23 BY QUARTER, FY24 BY QUARTER AND FY25 BY QUARTER ‐ www.cellebrite.com 11 November 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 BY QUARTER, FY24 BY QUARTER AND FY25 BY QUARTER ‐ www.cellebrite.com 11 November 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 11 November 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.
Slide 38: 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: 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: 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 11 November 2025 www.cellebrite.com © 2025 Cellebrite DI Ltd.