Cellebrite (CLBT) Q2 2026 earnings summary

Executive summary

• CEO transition: Shiv Ramji (also referred to as Shiven Ramji) appointed, succeeding Tom Hogan, to accelerate product-centric and AI-driven strategy.

• Q2 2026 ARR grew 21% year-over-year to $508M, with strong growth across all regions and product lines, but missed guidance due to delayed large deals and lower-than-expected Inseyets conversion uplift.

• Revenue for Q2 2026 was $131M, up 16% year-over-year, with subscription revenue comprising 91% of total.

• Growth in federal, defense, and intelligence sectors remains strong, with new product launches and expanded customer base (~7,000 globally) contributing to ARR.

• Focus on product innovation and execution, with new AI-powered solutions gaining traction.

Financial highlights

• Q2 gross profit was $112M, gross margin 86% (non-GAAP); GAAP gross margin was 80.8%.

• Adjusted EBITDA for Q2 was $31.8M (24% margin); free cash flow for trailing 12 months was $144.2M (28% margin).

• Operating income reached $29.8M; non-GAAP net income was $29.7M ($0.11 per diluted share).

• Weighted average shares outstanding increased to 247.6M in Q2 2026, with dilution slowing.

• Growth products (Manage, AI & Virtualize) grew ~85% and now represent ~14% of total ARR.

Outlook and guidance

• Full-year 2026 ARR guidance lowered to $550M–$560M (14–16% growth), revenue to $555M–$561M (17–18% growth).

• Adjusted EBITDA target raised to $153M–$159M (~28% margin) for FY26.

• Q3 2026 guidance: ARR $524M–$528M, revenue $145M–$148M, adjusted EBITDA $42M–$45M (29–30% margin).

• FX headwinds expected to impact results by nearly three points.