Slide 1: Q1 2024 Results Call
Q1 2024 RESULTS CALL May 23, 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 it @ solicitation of an offer to buy securities, Th
Slide 3: Results Highlights, Strategic Priorities, Outlook & Financial Review
i Cellebrite a1 2024 RESULTS BRIGHT STRATEGIC PRIORITIES & OUTLOOK & FINANCIAL REVIEW HIGHLIGHTS FUTURE CUSTOMER SUCCESS SUMMARY May 23, 2024 3
Slide 4: Results Highlights
2 Cellebrite May 23, 2024 Q1 2024 > $90M +26% Total Revenue - Q1 24 > $79M +29% Subscription Revenue - Q1 24 > $332M +27% ARR — MAR 24 > $18M 20% Adj. EBITDA & Adj. EBITDA %* - Q4 23 *Non-GAAP Note: non-GAAP metrics and key performance indicators defined in the appendix along with a reconcil RESULTS
Slide 5: Fueling Existing Customer Expansion
celerie ee FUELING EXISTING CUSTOMER EXPANSION May 23, 2024 5
Slide 6: Strategic Priorities & Customer Success
= couse" STRATEGIC PRIORITIES & CUSTOMER SUCCESS STRATEGIC MOVES IN THE PRIVATE SECTOR LEADING WITH CLOUD May 23, 2024 6
Slide 7: Outlook & Summary
2 Cellebrite a1 2024 OUTLOOK & SUMMARY + We believe we are on track to achieve our 2024 financial targets and are reaffirming our outlook + Cellebrite is well positioned with a differentiated and compelling platform of solutions that are making a tangible difference in accelerating justice + We move
Slide 8: Financial Review
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Slide 9: Revenue Growth Driven by Subscription
“oueate == REVENUE GROWTH DRIVEN BY SUBSCRIPTION $89.6 26% Total revenue growth 29% Total subscription revenue growth Qi 23 Q2 23 Q3 23 Q4 23 QI 24 Qi 23 Qi 24 Hi otal subscription Wlother non-recurring* Hl Professional services Note: Numbers may not total 100% due to rounding. Note: Numbers may not
Slide 10: ARR Growth
2 Cellebrite AR R G ROWT H ($ in millions) $331.8 + Q124 ARR grew 27% + Gross retention ~91% + ARR expansion primarily driven by existing customer expansion + New logos contribute 2% percentage points to ARR expansion Mar-23 Mar-24 mMar-23 ARR m@ilnseyets m Pathfinder & Guardian May 23, 2024 10
Slide 11: 14.4 12.0 12.6 12.4 12.8 60.9 53.6 54.7 57.6 52.5
14.4 12.0 12.6 12.4 12.8 60.9 53.6 54.7 57.6 52.5
Slide 12: Adjusted EBITDA & Cash Position
Ceeorte am ADJUSTED EBITDA & CASH POSITION Adjusted EBITDA (Non-GAAP, $M) and Cash Position Adjusted EBITDA Margin (Non-GAAP, %} $347.3M (3/31/24) +$15.5M from Qé4 23 | +$126.1 from Q1 23 24% 25% $22.7 $20.8 20% $17.6 Cash and cash equivalents 15% sore 10% Short-term and long-t a marketable securiti
Slide 13: Financial Forecast
2° Cellebrite a1 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 Q2 ‘24 EXPECTATIONS FY ‘24 EXPECTATIONS (AS OF 5/23/24) (AS OF 5/23/24) $342M - $350M $380M - $400M +25% - +28% +20%
Slide 14: i Cellebrite a1 2024
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Slide 15: i Cellebrite a1 2024
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Slide 16: Financial results for three months ended March 31
For the three months ended March 31, 2024 2023 (Unaudited) (Unaudited) Revenue 89,582 71,234 Gross profit 76,318 58,828 Gross margin 85.2% 82.6% Operating income 9,247 136 Operating margin 10.3% 0.2 % Net loss (71,372) (40,605) Cash flow from operating activities 10,041 12,476 Non-GAAP Financial Dat
Slide 17: Cost of revenues and gross profit reconciliation
For the three months ended March 31, 2024 2023 (Unaudited) (Unaudited) Cost of revenues $ 13,264 $ 12,406 Less: Share based compensation 430 386 Acquisition related costs 2 13 Non-GAAP cost of revenues $ 12,832 $ 12,007 For the three months ended March 31, 2023 2022 (Unaudited) (Unaudited) Gross pro
Slide 18: Operating expenses and operating income reconciliation
For the three months ended March 31, 2024 2023 (Unaudited) (Unaudited) Operating expenses $ 67,071 $ 58,692 Less: Share based compensation 5,266 4,071 Amortization of intangible assets 927 796 Acquisition related costs 7 251 Non-GAAP operating expenses $ 60,871 $ 53,574 For the three months ended Ma
Slide 19: Net income reconciliation
For the three months ended March 31, 2024 2023 (Unaudited) (Unaudited) Net loss $ (71,372) $ (40,605) Share based compensation 5,696 4,457 Amortization of intangible assets 927 796 Acquisition related costs 9 264 Tax expense, net (233) 1,194 Finance expense from financial derivatives 81,839 40,793 N
Slide 20: 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 March 31, 2024 2023 (Unaudited) (Unaudited) Net loss $ (71,372) $ (40,605) Financial expense, net 78,576 38,775 Tax expense 2,043 1,966 S
Slide 21: 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 22: Thank You
i. Cellebrite a1 2024 THANK YOU May 23, 2024