Slide 1: Q3 2024 Results Call
Q3 2024 RESULTS CALL November 6, 2024
Slide 2: Disclaimer
iY Cellebrite 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, Thi
Slide 3: Agenda
Cellebrite Q3 2024 AG E N DA November 6, 2024 °
Slide 4: Results Highlights
£2 Cellebrte onan RESULTS HIGHLIGHTS Rule of X > $107M +27% Total Revenue - Q3 24 50 45 > $93M +27% , Subscription Revenue - Q3 24 Ue > $371M +26% » ARR - SEPT 24 27% 26% > $31M 29% Adj. EBITDA & Adj. EBITDA %* - Q3 24 TTM 9/23 TTM 9/24 MARR Growth © Adj. EBITDA Margin *Non-GAAP November 6, 2024 Not
Slide 5: Key Strategic Accomplishments & Progress
** Getebrte ma KEY STRATEGIC ACCOMPLISHMENTS & PROGRESS Cellebrite Ins<e>ts November 6, 2024 5
Slide 6: 2024 Strategic Priorities
2 Cellebrite 93 2024 STRATEGIC PRIORITIES & CUSTOMER SUCCESS GROWTH WITHIN LEADERSHIP IN DIGITAL STRATEGIC EXPANSION IN INVESTIGATIVE & LEADING WITH CLOUD November 6, 2024 6
Slide 7: 2024 Outlook & Summary
2 Cellebrite 93 2024 OUTLOOK & SUMMARY + Our market remains very healthy with multiple tailwinds + Weare well positioned to close 2024 on a positive note + We look forward to 2025 with confidence in our ability to consistently deliver a balanced mix of meaningful ARR expansion with healthy profitabi
Slide 8: Cellebrite 2024
i Cellebrite 03 2024 ) cy | a
Slide 9: ARR Growth
2° Cellebrite 3 2024 AR R G ROWT H ($ in millions) $370.8 + Sep-24 ARR grew 26% $295.2 + Gross retention ~91% + Existing customer expansion fuels most of the ARR growth + New logos contribute ~2% percentage points to ARR expansion Sep-23 Sep-24 ™23-Sep minseyets m™ Pathfinder & Guardian November 6,
Slide 10: Revenue Growth Driven by Subscription
“cuewte = REVENUE GROWTH DRIVEN BY SUBSCRIPTION 27% Total revenue growth 27% Total subscription revenue growth Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q3 23 Q3 24 Hi otal subscription Wlother non-recurring* Hl Professional services Note: Numbers may not total 100% due to rounding. Note: Numbers ma
Slide 11: $14.4 $15.3 $14.9 $12.6 $12.4 $12.8 $57.6 $60.9 $60.3 $62.5 $12.0 $53.6 $54.7 $52.5
$14.4 $15.3 $14.9 $12.6 $12.4 $12.8 $57.6 $60.9 $60.3 $62.5 $12.0 $53.6 $54.7 $52.5
Slide 12: Adjusted EBITDA & Cash Position
Adjusted EBITDA (Non-GAAP, $M) and Adjusted EBITDA Margin (Non-GAAP, %] 24% 25% : 23% i" $22.7 AG $20.8 20% , $17.6 15% 10% $7.3 Qi 23 Q2 23 Q3 23 Q423 QI 24 Q2 24 29% Q3 24 Ceeorte ame ADJUSTED EBITDA & CASH POSITION Cash Position $413.6M (9/30/24) +$47.6M from Q2 24 | +$130.4 from Q3 23 Cash and c
Slide 13: Capital Markets Milestones & Impact on Share Count
“cates eam CAPITAL MARKETS MILESTONES & IMPACT ON SHARE COUNT 8/14/24 8/15/24 11/1/24 Price Trigger 1 || Announced Warrant Price Trigger 3 $12.50 Redemption $17.50 e \ © e al AUG SEP I | OCT NOV 9/13/24 9/16/24 Price Trigger 2 || Completed Warrant $15.00 Redemption These milestones support our long-
Slide 14: Financial Forecast
2° Cellebrite 03 2024 ARR ARR Growth [y/y) Revenue Revenue Growth (y/y] Adjusted EBITDA* Adjusted EBITDA Margin* * Non-GAAP 2023A $316M +27% $325M +20% $61.9M 19.1% FINANCIAL FORECAST Q4 ‘24 EXPECTATIONS FY ‘24 EXPECTATIONS (AS OF 11/06/24) (AS OF 11/06/24) $390M - $400M +23% - +27% $105M - $109M $3
Slide 15: Cellebrite Q3 2024
Cellebrite Q3 2024 - , ° e ¢ 2% % $* Lak ey ~AY ." oe Fee ve ht ue DO — sEeEALL eee ar. rpeetees® setts ev. ~*~ td : > >} Se 7 : - : ~~ . : 7 | 7! P J cbs >>
Slide 16: Cellebrite 2024
i Cellebrite 03 2024 ? ° P gilt : o\4 Bape gigddl tiie ith . ee igo peiiae ° : * oo ee ° 2 a8”, fe e fig dtaty; ise: : VARS SRS e e - Wt ee . e Ce oe ‘ e 32 +3 % a 5S ae a oy, * of lh» ‘ at ig ‘a . . ‘ acs fee SRSA oe, pbeteersee setts ev ~~ 6 . +s >> i. i.e ef . “\\ - * fo _* . » &
Slide 17: Cellebrite 2024
i Cellebrite 03 2024 ? ° P gilt : o\4 Bape gigddl tiie ith . ee igo peiiae ° : * oo ee ° 2 a8”, fe e fig dtaty; ise: : VARS SRS e e - Wt ee . e Ce oe ‘ e 32 +3 % a 5S ae a oy, * of lh» ‘ at ig ‘a . . ‘ acs fee SRSA oe, pbeteersee setts ev ~~ 6 . +s >> i. i.e ef . “\\ - * fo _* . » &
Slide 18: Financial Data: Three and Nine Months Ended September 30
For the three months ended For the nine months ended September 30, September 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue 106,858 84,179 292,154 232,097 Gross profit 91,414 71,301 247,185 193,782 Gross margin 85.5% 84.7% 84.6% 83.5% Operating income 19,445 13,479 4
Slide 19: Cost of Revenue and Gross Profit Reconciliation
For the three months ended For the nine months ended September 30 September 30 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Cost of revenue $ 15,444 $ 12,878 $ 44,969 $ 38,315 Less: Share-based compensation 559 435 1,652 1,235 Acquisition-related costs — 12 2 39 Non-GAAP cost
Slide 20: Operating Expenses and Operating Income Reconciliation
For the three months ended For the nine months ended September 30 September 30 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Operating expenses $ 71,969 $ 57,822 $ 206,006 $ 175,544 Less: Issuance expenses — — (345) Share-based compensation 8,496 4,446 19,654 12,703 Amortizatio
Slide 21: Net Income Reconciliation and Earnings per Share
For the three months ended For the nine months ended September 30 September 30 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net (loss) income $ (207,093) $ 6,500 $ (302,276) $ (66,453) Issuance expenses — — — (345) Share-based compensation 9,055 4,881 21,306 13,938 Amortizatio
Slide 22: Reconciliation of GAAP to Non-GAAP Financial Information
Cellebrite DI Ltd. Reconciliation of GAAP to Non-GAAP Financial Information (U.S Dollars in thousands, except share and per share data) For the three months ended For the nine months ended September 30 September 30 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net (loss) income
Slide 23: Appendix: Definitions
2 Cellebrite APPENDIX 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 contr
Slide 24: Warrant Redemption Summary
Outstanding Exercised Conversion to Exercised on a Conversion to Total, Net New Warrant Redemption (as of 8/15/24) Unexercised* for Cash Ordinary Shares Cashless Basis** Ordinary Shares Ordinary Shares Private Sponsor Warrants Outstanding 9,666,667 -- -- -- 9,666,667 3,306,000 3,306,000 Public Celle
Slide 25: Shares Outstanding
Shares Outstanding (in millions) Basic shares outstanding as of December 31, 2023 195.7 Equity incentive shares* (Q1-Q3 actual, Q4 est.) ~10.0 Issuance, Price Adjustment Shares, Price Trigger 1 ($12.50) 5.0 Vesting, Restricted Sponsor Shares, Price Trigger 1 ($12.50) 3.0 Issuance, Price Adjustment S
Slide 26: Thank You
Cellebrite Q3 2024 THANK YOU November 6, 2024