Cellebrite DI (CLBT) investor relations material

Executive summary

• Achieved Q3 2025 revenue of $126M, up 18% year-over-year, with ARR growing 19% to $440M and subscription revenue rising 21% to $113M, led by strong U.S. State & Local, Latin America, and U.S. Federal performance.

• Adjusted EBITDA grew 20% year-over-year to $38M (29.9–30% margin), with margin expansion and net income of $36.9M.

• U.S. Federal segment returned to growth, with marquee client expansions and positive outlook for 2026 as budgets normalize and cloud authorization is achieved.

• Announced acquisition of Corellium for up to $200M, expected to close in Q4 2025, to expand TAM and innovation in digital investigations, especially in defense and intelligence.

• Launched Autumn 2025 Release, including Guardian Investigate, an AI-powered SaaS solution targeting multi-data source investigations, set for early 2026.

Financial highlights

• Q3 ARR grew 19% year-over-year to $440M; sequential ARR growth was 5%.

• Q3 revenue was $126M, up 18% year-over-year, with 89% from subscription-based software; gross profit was $106.5M (84.5% margin).

• Adjusted EBITDA was $37.7M–$38M (29.9–30% margin), up 20% year-over-year.

• Free cash flow for Q3 was $30M, trailing twelve months FCF was $140M (31% margin).

• Ended Q3 with $595M in cash, cash equivalents, and investments.

Outlook and guidance

• Q4 2025 revenue expected between $123M and $128M; adjusted EBITDA of $35M–$38M (28–30% margin).

• Full-year 2025 revenue guidance raised to $470M–$475M (17–18% growth); ARR outlook $460M–$475M; adjusted EBITDA guidance $124M–$127M (26–27% margin).

• 2025 free cash flow margin expected to be ~30%.

• Guidance does not include any contribution from the pending Corellium acquisition.

• 2026 guidance to be set in February, with confidence in top-line growth reacceleration.