Cellebrite DI (CLBT) Q4 2025 earnings summary

Executive summary

• Achieved record Q4 and full-year 2025 results, with 21% ARR growth to $481M, strong SaaS/cloud and AI integration, and strategic acquisitions including Corellium and the announced SCG Canada deal to expand drone forensics.

• Outperformed guidance on Q4 revenue and Adjusted EBITDA, with robust profitability and cash generation.

• Corellium acquisition closed for $170M, contributing $16.1M to 2025 ARR and expanding digital investigations and mobile security offerings.

• Announced agreement to acquire SCG Canada, enhancing portable drone forensics capabilities.

• Achieved 55% conversion of digital forensics base to Inseyets, exceeding targets.

Financial highlights

• Q4 2025 revenue grew 18% YoY to $128.8M; full-year revenue up 19% to $475.7M.

• Q4 subscription revenue up 21% to $115.5M; full-year subscription revenue up 21% to $427.0M.

• Q4 Adjusted EBITDA was $38.3M (29.8% margin); full-year Adjusted EBITDA $127.6M (26.8% margin); free cash flow for FY25 was $160.3M (34% margin).

• Ended 2025 with $535M in cash, cash equivalents, and investments.

• Gross revenue retention remained strong at ~91%.

Outlook and guidance

• 2026 ARR guidance: $567–$573M (18–19% growth); revenue: $565–$571M (19–20% growth); Adjusted EBITDA expected at $149–$155M (26–27% margin); FCF margin to exceed 30%.

• Q1 2026 ARR expected at $491–$493M (20–21% growth); revenue $126–$129M (18–20% growth); Adjusted EBITDA $26M–$28M (21–22% margin).

• Guidance philosophy now uses tighter ranges, based on renewals pipeline and RPO coverage.

• Management expects accelerated ARR growth, continued SaaS/cloud adoption, and a rebound in U.S. Federal segment.