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Cellebrite Supercharges Corporate Investigative Capabilities with New SaaS Offering

TYSONS CORNER, Va. and PETAH TIKVA, Israel and ORLANDO, Fla., Aug. 21, 2023 (GLOBE NEWSWIRE) — Cellebrite DI Ltd. (Nasdaq: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, today announced at ILTACON 2023 a new SaaS offering for corporate investigations and eDiscovery ""Endpoint Mobile Now. This new offering will be the first Cellebrite SaaS solution for private sector customers, with Endpoint Inspector expected to be available as a SaaS option later this year.

Endpoint Mobile Now is designed to empower corporations, law firms and service providers to scale remote data collection across iOS and Android devices by leveraging Cellebrite's SaaS infrastructure. Designed specifically for the private sector, Endpoint Inspector provides an all–in–one solution that allows examiners to legally access data, with custodians being aware that information is being collected from their devices and given their consent to remotely collect data from mobile devices, computers and cloud.

“With this new online and on–demand technology, organizations can rapidly and securely collect and preserve data for litigation or internal investigations before it is compromised or deleted,” said Ken Basore, General Manager for Cellebrite Enterprise Solutions. “Endpoint Mobile Now leverages Cellebrite's patent–pending remote collection platform in a SaaS environment and is purpose–built to meet the growing need from attorneys to access, collect and preserve mobile data necessary for civil litigation and internal investigations.”

Endpoint Mobile Now provides e–discovery capabilities and a comprehensive forensic platform, enabling accurate, quick and secure data collection, management and review. Aligning specifically to organizations' evolving budgetary requirements, Endpoint Mobile Now allows organizations to pay for collections as needed, thereby freeing up precious financial capital and IT resources.

Cellebrite's SaaS infrastructure ensures the platform is able to adapt quickly in the constantly changing environment of mobile device applications and operating system updates and patches and evolves in real–time, regardless of device type, operating system or application. The solution also enables simultaneous remote collection of multiple mobile devices, allowing for rapid data preservation and discovery of relevant evidence, without exorbitant resource spend.

For more information on Cellebrite Endpoint Intelligence, please visit here.

About Cellebrite

Cellebrite's (Nasdaq: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in Digital Intelligence solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite's Digital Intelligence platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more visit us at www.cellebrite.com, https://investors.cellebrite.com, or follow us on Twitter at @Cellebrite.

About Cellebrite Enterprise Solutions

In a world that's evolving rapidly, Cellebrite Enterprise Solutions looks beyond the horizon to design solutions to keep data within reach, transform it, and reveal important insights to protect your business and employees. From headquarters to home office, eDiscovery professionals and corporate investigators can access endpoints anywhere with Cellebrite's enterprise solution offerings.

Caution Regarding Forward–Looking Statements

This presentation includes "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," "anticipate," "will," "appear," "approximate," "foresee," "might," "possible," "potential," "believe," "could," "predict," "should," "could," "continue," "expect," "estimate," "may," "plan," "outlook," "future" and "project" and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward–looking statements with respect to estimated financial information for fiscal year 2023 such as revenue, ARR, adjusted EBITDA and earnings as well as statements related to the performance, strategies, prospects, and other aspects of Cellebrite's business are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements. These factors include, but are not limited to: Cellebrite's ability to keep pace with technological advances and evolving industry standards; Cellebrite's material dependence on the purchase, acceptance and use of its solutions by law enforcement and government agencies; real or perceived errors, failures, defects or bugs in Cellebrite's DI solutions; Cellebrite's failure to maintain the productivity of sales and marketing personnel, including relating to hiring, integrating and retaining personnel; intense competition in all of Cellebrite's markets; the inadvertent or deliberate misuse of Cellebrite's solutions; failure to manage its growth effectively; Cellebrite's ability to introduce new solutions and add–ons; its dependency on its customers renewing their subscriptions; the low volume of business Cellebrite conducts via e–commerce; risks associated with the use of artificial intelligence; the risk of requiring additional capital to support the growth of its business; risks associated with higher costs or unavailability of materials used to create its hardware product components; fluctuations in foreign currency exchange rates; lengthy sales cycle for some of Cellebrite's solutions; near term declines in new or renewed agreements; risks associated with inability to retain qualified personnel and senior management; the security of Cellebrite's operations and the integrity of its software solutions; risks associated with the negative publicity related to Cellebrite's business and use of its products; risks related to Cellebrite's intellectual property; the regulatory constraints to which Cellebrite is subject; risks associated with different corporate governance requirements applicable to Israeli companies and risks associated with being a foreign private issuer and an emerging growth company; market volatility in the price of Cellebrite's shares; changing tax laws and regulations; risks associated with joint, ventures, partnerships and strategic initiatives; risks associated with Cellebrite's significant international operations; risks associated with Cellebrite's failure to comply with anti–corruption, trade compliance, anti–money–laundering and economic sanctions laws and regulations; risks relating to the adequacy of Cellebrite's existing systems, processes, policies, procedures, internal controls and personnel for Cellebrite's current and future operations and reporting needs; and other factors, risks and uncertainties set forth in the section titled "Risk Factors" in Cellebrite's annual report on Form 20–F filed with the SEC on April 27, 2023 and in other documents filed by Cellebrite with the U.S. Securities and Exchange Commission, which are available free of charge at www.sec.gov. You are cautioned not to place undue reliance upon any statements, which speak only as of the date made, in this communication or elsewhere. Cellebrite undertakes no obligation to update its forward–looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

Media

Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910

Investor Relations

Andrew Kramer
Vice President, Investor Relations
investors@cellebrite.com
+1 973.206.7760


GLOBENEWSWIRE (Distribution ID 8898092)

Cellebrite Appoints Thomas E. Hogan as Executive Chairman of the Board

Seasoned Technology Leader to Partner with CEO Yossi Carmil to Further Company Growth and Strategic Priorities

TYSONS CORNER, Va. and PETAH TIKVA, Israel, Aug. 08, 2023 (GLOBE NEWSWIRE) — Cellebrite DI Ltd. (Nasdaq: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, announced today that proven industry veteran, Thomas E. Hogan has been appointed Executive Chairman of the Board.

Based in Austin, Texas, Hogan brings a remarkable 40+ year track record of exceptional shareholder returns, client impact, and employee growth. He has significant expertise in strategic M&A, sales and marketing, international operations, and talent acquisition and development. During his career Tom has led numerous acquisitions totally nearly $8B including marquis targets such as Mercury Interactive and Opsware. His career includes over a decade as both a private and publicly held software CEO as well as senior executive posts ranging from late stage private to mega–cap public companies.

"Tom's experience will be invaluable as we scale Cellebrite, extend our market leading digital intelligence solutions, and ultimately enable justice across the globe. I am excited to partner closely with Tom as we navigate our next chapter of growth and global impact," said Yossi Carmil, CEO, Cellebrite.

"I look forward to my new partnership with Yossi, Haim Shani and the entire Cellebrite board, and the talented men and women across Cellebrite, as we build upon the impressive momentum of the company. I am especially enthused about the mission–driven purpose of this organization and our opportunity to better equip law enforcement and judicial systems worldwide," said Thomas E. Hogan, Executive Chairman of the Board.

Hogan previously served as chairman and CEO of Kony, Inc, President and CEO of Vignette (VIGN), executive vice president of sales and marketing for Hewlett Packard, executive vice president of software for HP, executive vice president of CSC, chief sales officer at Siebel Systems, and most recently as a Operating Managing Director at Vista Equity Partners. He has held numerous public and private board positions including directorships at Citrix, Gainsight, Pluralsight, Drift, Vignette, Kony, Vastera, and Inforte. Tom holds a Masters in Management from Northwestern University and a B.S. in Biomedical Engineering from the University of Illinois.

Cellebrite's current non–executive chairman, Haim Shani, will remain an active member of the board. Haim will leverage his extensive experience as the former CEO of NICE, the former Director General of the Israel Ministry of Finance, and his current role as founder and general manager of Israel Growth Partners, to further strengthen contributions from the Cellebrite board.

"On behalf of the entire Cellebrite board, I am pleased to welcome Tom to the Cellebrite team. Getting to know Tom as the head of the search committee and working with Yossi the past four years, I believe their combined strengths deliver the best leadership team in the industry. While I am passing the torch of chairman duties to Tom, I will continue to contribute as an active member of the Cellebrite board and look forward to working closely with Tom and the Cellebrite management team as we continue our journey," said Haim Shani, former Cellebrite chairman.

About Cellebrite

Cellebrite's (Nasdaq: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in Digital Intelligence solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes.

Trusted by thousands of leading agencies and companies worldwide, Cellebrite's Digital Intelligence platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more visit us at www.cellebrite.com, https://investors.cellebrite.com, or follow us on Twitter at @Cellebrite.

Caution Regarding Forward–Looking Statements

This document includes "forward–looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward–looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," "anticipate," "believe," "could," "continue," "expect," "estimate," "may," "plan," "outlook," "future" and "project" and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward–looking statements include estimated financial information. Such forward–looking statements with respect to revenues, earnings, performance, strategies, prospects, and other aspects of the business of Cellebrite are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward–looking statements. These factors include, but are not limited to: Cellebrite's ability to develop technologically advanced solutions and successfully integrate with the software solutions used by customers; acceptance of solutions by customers; errors, failures, defects or bugs in solutions; a failure to maintain sales and marketing personnel productivity or hire, integrate and retain additional sales and marketing personnel; the impact of the global COVID–19 pandemic; the impact of competition on pricing and on Cellebrite's market share; sub–optimal results from products due to misuse by customers; Cellebrite's failure to maintain and enhance its reputation and brand; inaccuracy of the estimates of Cellebrite's market opportunity and forecasts of market growth; changes to packaging and licensing models that adversely affect the ability to attract or retain customers; failure to manage future growth effectively; failure to introduce new solutions and add–ons; issues in the use of artificial intelligence resulting in reputational harm or liability; the need for additional capital to support the growth of Cellebrite's business; a failure to maintain the security of operations and the integrity of software solutions; the impact of government budgeting cycles and appropriations, early termination, audits, investigations, sanctions and penalties; a decline in government budgets, changes in spending or budgetary priorities, or delays in contract awards; a failure to adequately obtain, maintain, protect and enforce Cellebrite's intellectual property or infringement of the intellectual property rights of others; perceptions or court or regulatory decisions that Cellebrite's solutions violate privacy rights; the use of solutions by customers in a way that is, or that is perceived to be, incompatible with human rights; failure to comply with laws regarding privacy, data protection and security, technology protection, sanctions, export controls and other matters; and other factors, risks and uncertainties set forth in the sections titled "Risk Factors" and "Cautionary Note Regarding Forward–Looking Statements" in our Annual Report on form 20–F filed with the SEC on March 29, 2022 and in other documents filed by Cellebrite with the U.S. Securities and Exchange Commission ("SEC"), which are available free of charge at www.sec.gov. You are cautioned not to place undue reliance upon any forward–looking statements, which speak only as of the date made, in this communication or elsewhere. Cellebrite undertakes no obligation to update its forward–looking statements, whether as a result of new information, future developments, or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

Cellebrite Contacts

Media
Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910

Investors
Andrew Kramer
VP, Investor Relations
Investors@cellebrite.com
+1 973.206.7760

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/774b7b9d–8b12–4bd0–9ff6–ad1b46feb3e0


GLOBENEWSWIRE (Distribution ID 8889189)

Cellebrite Wins Five Forensic Focus 4:cast Awards, Reinforcing Standing as Digital Intelligence Leader

TYSONS CORNER, Va. and PETAH TIKVA, Israel and AUSTIN, Texas, Aug. 07, 2023 (GLOBE NEWSWIRE) — Cellebrite DI Ltd. (Nasdaq: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, is thrilled to win five prestigious 2023 Forensic Focus 4:cast Awards.

"Cellebrite's nominations and awards highlight our leadership and commitment to continually innovate, delivering the most effective and advanced Digital Intelligence and investigative solutions to market," says Leeor Ben–Peretz, Cellebrite Chief Strategy Officer. "This consistent recognition validates that Cellebrite's Digital Intelligence platform is the dominant solution, fueled by the best leadership and R&D teams."

Cellebrite is honored and excited to receive the following awards, emphasizing our industry prominence, product superiority and unsurpassed community engagement:

DFIR Commercial Tool of the Year: Received in recognition of the reliability and innovation of Cellebrite's complete, end–to–end solution suite where every tool we produce speeds up and helps validate data pertaining to investigations.

DFIR Team of the Year: With acknowledgement Cellebrite as not only a vendor to the DFIR community but truly part of their team, working together side by side to promote the concept of "trust but verify".

DFIR Blog of the Year: Received for 'Ask the Expert', a platform utilized to share our findings and insights with the community.

DFIR CTF (Capture the Flag) of the Year: Following its introduction in 2020, Cellebrite rapidly established its CTF event as industry standard for in–depth CTFs.

DFIR Social Media Influencer of the Year: Honoring Cellebrite's Heather Mahalik""a consistent voice to the community through regular content, tips, tricks, and hints for the DFIR community. She also hosts frequent Cellebrite webinars and podcasts, including Tip Tuesdays, Fundamentals Matter, I Beg to DFIR, and our latest 'Dig For' YouTube series.

About Cellebrite

Cellebrite's (Nasdaq: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in Digital Intelligence solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite's Digital Intelligence platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more visit us at www.cellebrite.com, https://investors.cellebrite.com, or follow us on Twitter at @Cellebrite.

Media
Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910

Investor Relations
Andrew Kramer
Vice President, Investor Relations
investors@cellebrite.com
+1 973.206.7760


GLOBENEWSWIRE (Distribution ID 8888341)

Cellebrite to Report Second-Quarter 2023 Financial Results on August 8, 2023

PETAH TIKVA, Israel and TYSONS CORNER, Va., July 12, 2023 (GLOBE NEWSWIRE) — Cellebrite (NASDAQ: CLBT), a global leader in Digital Intelligence ("DI") solutions for the public and private sectors, today announced it will report its second–quarter 2023 financial results before market open on Tuesday, August 8, 2023.

Later that same morning, Cellebrite will host a live conference call and webcast to review the Company's financial results for the first quarter of 2023 and discuss its full–year 2023 outlook. Pertinent details include:

Date: Tuesday, August 8, 2023
Time: 8:30 a.m. ET
Call–In Number: 203–518–9848
Conference ID: CLBTQ223
Event URL: https://investors.cellebrite.com/events/event–details/cellebrite–q2–23–earnings
Live Webcast URL: https://edge.media–server.com/mmc/p/f896bks4

In conjunction with the conference call and webcast, historical financial tables and supplemental data will be available on the quarterly results section of Company's investor relations website at https://investors.cellebrite.com/financial–information/quarterly–results. A transcript of the call will be added to this page along with access to the replay of the call.

About Cellebrite
Cellebrite's (NASDAQ: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in Digital Intelligence solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite's Digital Intelligence platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more, visit us at www.cellebrite.com and https://investors.cellebrite.com.

Media
Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910

Investor Relations
Andrew Kramer
Vice President, Investor Relations
investors@cellebrite.com
+1 973.206.7760

Caution Regarding Forward Looking Statements

This document includes "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," "anticipate," "will," "appear," "approximate," "foresee," "might," "possible," "potential," "believe," "could," "predict," "should," "could," "continue," "expect," "estimate," "may," "plan," "outlook," "future" and "project" and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward looking statements include estimated financial information. Such forward looking statements with respect to revenues, earnings, performance, strategies, prospects, and other aspects of Cellebrite's business are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements. These factors include, but are not limited to: Cellebrite's ability to keep pace with technological advances and evolving industry standards; Cellebrite's material dependence on the acceptance of its solutions by law enforcement and government agencies; real or perceived errors, failures, defects or bugs in Cellebrite's DI solutions; Cellebrite's failure to maintain the productivity of sales and marketing personnel, including relating to hiring, integrating and retaining personnel; uncertainties regarding the impact of macroeconomic and/or global conditions, including COVID–19 and military actions involving Russia and Ukraine; intense competition in all of Cellebrite's markets; the inadvertent or deliberate misuse of Cellebrite's solutions; political and reputational factors related to Cellebrite's business or operations; risks relating to estimates of market opportunity and forecasts of market growth; Cellebrite's ability to properly manage its growth; risks associated with Cellebrite's credit facilities and liquidity; Cellebrite's reliance on third–party suppliers for certain components, products, or services; challenges associated with large transactions and long sales cycle; risks that Cellebrite's customers may fail to honor contractual or payment obligations; risks associated with a significant amount of Cellebrite's business coming from government customers around the world; risks related to Cellebrite's intellectual property; security vulnerabilities or defects, including cyber–attacks, information technology system breaches, failures or disruptions; the mishandling or perceived mishandling of sensitive or confidential information; the complex and changing regulatory environments relating to Cellebrite's operations and solutions; the regulatory constraints to which we are subject; risks associated with different corporate governance requirements applicable to Israeli companies and risks associated with being a foreign private issuer and an emerging growth company; market volatility in the price of Cellebrite's shares; changing tax laws and regulations; risks associated with joint, ventures, partnerships and strategic initiatives; risks associated with Cellebrite's significant international operations; risks associated with Cellebrite's failure to comply with anti–corruption, trade compliance, anti–money–laundering and economic sanctions laws and regulations; risks relating to the adequacy of Cellebrite's existing systems, processes, policies, procedures, internal controls and personnel for Cellebrite's current and future operations and reporting needs; and other factors, risks and uncertainties set forth in the section titled "Risk Factors" in Cellebrite's annual report on Form 20–F filed with the SEC on March 29, 2022,as amended on April 14, 2022 and in other documents filed by Cellebrite with the U.S. Securities and Exchange Commission ("SEC"), which are available free of charge at www.sec.gov. You are cautioned not to place undue reliance upon any forward looking statements, which speak only as of the date made, in this communication or elsewhere. Cellebrite undertakes no obligation to update its forward looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.


GLOBENEWSWIRE (Distribution ID 8873303)

UPDATE – Cellebrite Announces Innovative Case-Closing Technology; Raising the Bar for Modern Investigations

PETAH TIKVA, Israel and TYSONS CORNER, Va., June 05, 2023 (GLOBE NEWSWIRE) — Cellebrite DI Ltd. (Nasdaq: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, announced today its new UFED Ultra solution which expands and accelerates data access, extraction, decoding, and review capabilities for law enforcement agencies around the world to deliver court–ready digital evidence.

Cellebrite's UFED Ultra strengthens the end–to–end solution suite by broadening access to devices and operating systems thereby streamlining the investigative workflow and accelerating time–to–evidence. This technology and infrastructure provide unparalleled access and extraction capabilities meaning every agency with Cellebrite technology, regardless of size, is equipped to confidently solve more crimes faster.

"With UFED Ultra, every Cellebrite endpoint is now capable of advanced extractions and unlocks when converted to Ultra," said Cellebrite Chief Products and Technologies Officer Ronnen Armon. "This innovative technology represents a significant advancement in digital forensics technology, as it multiplies the speed of extraction, broadens the scope of accessible devices and increases the quantity of digital artifacts which yield impactful evidence. We believe that UFED Ultra will enable our customers to accelerate justice by bringing cases to successful closure for investigations that depend on identifying valuable digital evidence."

“Cellebrite continues to channel its R&D efforts towards streamlining investigative workflow; UFED Ultra opens the aperture on evidence extraction, precisely when this stage of the forensic workflow is becoming more technologically challenging for agencies worldwide," said Dr. Alison Brooks, Research Vice President for the International Data Corporation.

By revolutionizing the flow of digital forensics, UFED Ultra offers the potential to empower over 40,000 examiners worldwide that depend on Cellebrite to stay ahead of digital–savvy criminals while upholding the highest industry standards.

For more information on UFED Ultra, please visit here.

About Cellebrite
Cellebrite's (Nasdaq: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in Digital Intelligence solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite's Digital Intelligence platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more visit us at www.cellebrite.com, https://investors.cellebrite.com, or follow us on Twitter at @Cellebrite.

Caution Regarding Forward–Looking Statements

This document includes "forward–looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," "anticipate," "will," "appear," "approximate," "foresee," "might," "possible," "potential," "believe," "could," "predict," "should," "could," "continue," "expect," "estimate," "may," "plan," "outlook," "future" and "project" and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward–looking statements include estimated financial information for fiscal year 2023 and certain statements related to being on track to achieve our original FY23 financial targets, being well positioned to drive improved year–over–year profitability and strong free cash flow over the coming quarters, and reiterating our full–year 2023 guidance. Such forward–looking statements including those with respect to 2023 revenue and annual recurring revenue, profitability and earnings as well as commentary associated with future performance, strategies, prospects, and other aspects of Cellebrite's business are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward–looking statements. These factors include, but are not limited to: Cellebrite's ability to keep pace with technological advances and evolving industry standards; Cellebrite's material dependence on the purchase, acceptance and use of its solutions by law enforcement and government agencies; real or perceived errors, failures, defects or bugs in Cellebrite's DI solutions; Cellebrite's failure to maintain the productivity of sales and marketing personnel, including relating to hiring, integrating and retaining personnel; intense competition in all of Cellebrite's markets; the inadvertent or deliberate misuse of Cellebrite's solutions; failure to manage its growth effectively; Cellebrite's ability to introduce new solutions and add–ons; its dependency on its customers renewing their subscriptions; the low volume of business Cellebrite conducts via e–commerce; risks associated with the use of artificial intelligence; the risk of requiring additional capital to support the growth of its business; risks associated with higher costs or unavailability of materials used to create its hardware product components; fluctuations in foreign currency exchange rates; lengthy sales cycle for some of Cellebrite's solutions; near term declines in new or renewed agreements; risks associated with inability to retain qualified personnel and senior management; the security of Cellebrite's operations and the integrity of its software solutions; risks associated with the negative publicity related to Cellebrite's business and use of its products; risks related to Cellebrite's intellectual property; the regulatory constraints to which Cellebrite is subject; risks associated with different corporate governance requirements applicable to Israeli companies and risks associated with being a foreign private issuer and an emerging growth company; market volatility in the price of Cellebrite's shares; changing tax laws and regulations; risks associated with joint, ventures, partnerships and strategic initiatives; risks associated with Cellebrite's significant international operations; risks associated with Cellebrite's failure to comply with anti–corruption, trade compliance, anti–money–laundering and economic sanctions laws and regulations; risks relating to the adequacy of Cellebrite's existing systems, processes, policies, procedures, internal controls and personnel for Cellebrite's current and future operations and reporting needs; and other factors, risks and uncertainties set forth in the section titled "Risk Factors" in Cellebrite's annual report on Form 20–F filed with the SEC on April 27, 2023 and in other documents filed by Cellebrite with the U.S. Securities and Exchange Commission ("SEC"), which are available free of charge at www.sec.gov. You are cautioned not to place undue reliance upon any forward–looking statements, which speak only as of the date made, in this communication or elsewhere. Cellebrite undertakes no obligation to update its forward–looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

Cellebrite Contacts

Media

Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910

Investors
Andrew Kramer
investors@cellebrite.com


GLOBENEWSWIRE (Distribution ID 8852404)

Cellebrite Announces Innovative Case-Closing Technology; Raising the Bar for Modern Investigations

PETAH TIKVA, Israel and TYSONS CORNER, Va., June 05, 2023 (GLOBE NEWSWIRE) — Cellebrite DI Ltd. (Nasdaq: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, announced today its new UFED Ultra solution which expands and accelerates data access, extraction, decoding, and review capabilities for law enforcement agencies around the world to deliver court–ready digital evidence.

Cellebrite's UFED Ultra strengthens the end–to–end solution suite by broadening access to devices and operating systems thereby streamlining the investigative workflow and accelerating time–to–evidence. This technology and infrastructure provide unparalleled access and extraction capabilities meaning every agency with Cellebrite technology, regardless of size, is equipped to confidently solve more crimes faster.

"With UFED Ultra, every Cellebrite endpoint is now capable of advanced extractions and unlocks when converted to Ultra," said Cellebrite Chief Products and Technologies Officer Ronnen Armon. "This innovative technology represents a significant advancement in digital forensics technology, as it multiplies the speed of extraction, broadens the scope of accessible devices and increases the quantity of digital artifacts which yield impactful evidence. We believe that UFED Ultra will enable our customers to accelerate justice by bringing cases to successful closure for investigations that depend on identifying valuable digital evidence."

"Cellebrite continues to channel its R&D efforts towards streamlining investigative workflow; UFED Ultra opens the aperture on evidence extraction, precisely when this stage of the forensic workflow is becoming more technologically challenging for agencies worldwide," said Dr. Alison Brooks, Research Vice President for the International Data Corporation.

By revolutionizing the flow of digital forensics, UFED Ultra offers the potential to empower over 40,000 examiners worldwide that depend on Cellebrite to stay ahead of digital–savvy criminals while upholding the highest industry standards.

For more information on UFED Ultra, please visit here.

About Cellebrite
Cellebrite's (Nasdaq: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in Digital Intelligence solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite's Digital Intelligence platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more visit us at www.cellebrite.com, https://investors.cellebrite.com, or follow us on Twitter at @Cellebrite.

Cellebrite Contacts

Media

Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910

Investors
Andrew Kramer
investors@cellebrite.com


GLOBENEWSWIRE (Distribution ID 8851982)

Cellebrite Bolsters Digital Intelligence Capabilities for Latin American Nation’s Federal Forces and Expands Investigative Power around Crypto Crime

PETAH TIKVA, Israel, and TYSONS CORNER, Va., May 22, 2023 (GLOBE NEWSWIRE) — Cellebrite DI Ltd. (Nasdaq: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, today announced its suite of digital intelligence software solutions, which includes the first and largest deployment of data and insights from cryptocurrency transactions in the Latin American public sector, will now be deployed in a major Latin American country, expanding the nation's four federal forces' digital forensic solutions.

This significant agreement enables the police force to:

  • Deploy Cellebrite's industry–leading Collect and Review solutions with UFED, Premium Enterprise and Premium as a Service, and Physical Analyzer;
  • Benefit from Pathfinder, Cellebrite's sophisticated AI–based solution for rapidly analyzing enormous volumes of digital evidence across multiple devices;
  • Leverage both crypto data and insights from Cellebrite and the cryptocurrency platform to identify, assess and accelerate investigations involving cryptocurrencies.

In total, the deal increases the customer's annual spending with Cellebrite more than ten–fold.

Cryptocurrency usage has increased significantly over the past several years with INTERPOL's first Global Crime Trend report citing such financial and cybercrimes as the world's leading, and fastest increasing current threats. As forms of cryptocurrency are used more regularly, they often support or fund hidden forms of crime, hence the importance of integrating this into investigations.

Cellebrite's LATAM Vice President, Eduardo Negreiros, added, "This agreement underscores a worldwide shift in the frequency and scale of digital crime, particularly financial crime and increasing need for digital intelligence from Cellebrite in Latin America. This new deal is validation of the steps we have taken with this customer in recent years to deliver high–value digital forensic solutions, training and responsive support to modernize its investigative workflows. By deploying a broader range of our digital intelligence solutions, this customer is making incremental strides in organizational effectiveness and efficiency."

About Cellebrite
Cellebrite's (Nasdaq: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in Digital Intelligence solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite's Digital Intelligence platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more visit us at www.cellebrite.com, https://investors.cellebrite.com, or follow us on Twitter at @Cellebrite.

Cellebrite Contacts
Media
Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910

Investors
Andrew Kramer
VP, Investor Relations
Investors@cellebrite.com
+1 973.206.7760


GLOBENEWSWIRE (Distribution ID 8843483)

Cellebrite Announces First-Quarter 2023 Results

Revenue of $71.2 million, 14% year–over–year increase due primarily to
27% growth in subscription revenue;

ARR of $261.3 million, up 30% year–over–year;

Adjusted EBITDA of $7.3 million, 10.3% adjusted EBITDA margin

PETAH TIKVA, Israel and TYSONS CORNER, Va., May 10, 2023 (GLOBE NEWSWIRE) — Cellebrite (NASDAQ: CLBT), a global leader in Digital Intelligence ("DI") solutions for the public and private sectors, today announced financial results for the three months ending March 31, 2023.

"Our first–quarter results demonstrate that we are off to a strong start in 2023 as we work closely with our customers to help them modernize their investigative workflows," said Yossi Carmil, Cellebrite's CEO. "During the quarter, we made tangible progress with key strategic initiatives aimed at advancing innovation by delivering important breakthroughs with our Collect and Review capabilities. It is gratifying to see customers increasingly turn to Cellebrite for our powerful digital intelligence software solutions, which is translating into higher usage of our Collect and Review solutions and increasing traction for additional growth engines such as our Investigative Analytics and our Case and Evidence Management offerings. As a result, we move forward with solid momentum in a healthy marketplace, which is reflected in our ARR and NRR metrics. With a strong first quarter behind us and attractive opportunities ahead, we believe that we are on track to achieve our original FY23 financial targets."

First–Quarter 2023 Financial Highlights

  • Revenue of $71.2 million, up 14% year–over–year
  • Subscription revenue of $61.3 million, up 27% year–over–year
  • Annual Recurring Revenue (ARR) of $261.3 million, up 30% year–over–year
  • Recurring revenue dollar–based net retention rate (NRR) of 128%
  • GAAP gross profit and gross margin of $58.8 million and 82.6%, respectively; Non–GAAP gross profit and gross profit margin of $59.2 million and 83.1%, respectively
  • GAAP net loss of $40.6 million; Non–GAAP net income of $6.9 million
  • GAAP diluted net loss per share of $(0.21); Non–GAAP diluted EPS of $0.03
  • Adjusted EBITDA and adjusted EBITDA margin of $7.3 million and 10.3%, respectively

First–Quarter 2023 and Recent Digital Intelligence Highlights

  • Closed 21 large deals in the first quarter, each valued at $500,000 or more. Notable deals included:
    • A large national agency in Latin America expanded its Premium licensing, added Guardian and Pathfinder, and became the first customer in this region to integrate cryptocurrency data and insights within its Cellebrite DI solutions. This customer's ARR increased by a factor of 13x to $1.6 million.
    • Two police departments serving mid–sized U.S. cities added Premium to support their digital forensic labs and began deploying Pathfinder to accelerate their investigations and Guardian to securely share digital evidence among examiners, investigators and prosecutors. ARR for one of these customers quadrupled to nearly $600,000 and ARR for the other customer increased by over 10x to just under $300,000.
    • A specialist intelligence agency in Western Europe upgraded its digital intelligence collection capabilities by expanding its use of Premium ES nationwide while also renewing the licenses for other Collect & Review offerings. As a result, this customer's ARR increased by over 60% to $1.2 million.
  • Launched Pathfinder X, an elevated suite of artificial intelligence (AI)–enabled investigative analytics for digital evidence that helps law enforcement agencies resolve cases faster and more efficiently. New Pathfinder X features include cloud deployment options on AWS and Azure virtual private cloud, a deployment format optimal for geographically dispersed teams and a new user management system.
  • Announced integration between Cellebrite's LegalView Physical Analyzer and Relativity's RelativityOne, bringing more ease and speed to corporate investigations in the private sector.
  • Received Frost & Sullivan's 2022 North American Customer Value Leadership Award for its digital intelligence solutions.

Supplemental financial information can be found on the Investor Relations section of our website at https://investors.cellebrite.com/financial–information/quarterly–results.

Financial Outlook

"Having largely completed our transition to subscription software, we are starting to see our subscription software and ARR growth rates converge, which is consistent with our prior expectations," said Dana Gerner, Chief Financial Officer of Cellebrite. "Looking ahead, we anticipate continued success in increasing wallet share from existing customers and further expanding our global customer base with new logo wins. Based on our results to date and the opportunities we see to drive top–line growth, in combination with our prudent spending plans, Cellebrite is well positioned to drive improved year–over–year profitability and strong free cash flow over the coming quarters. We reiterate our full–year 2023 guidance."

  • Full year 2023 revenue is expected to be between $305 and $315 million, representing 13–16% year–over–year growth.
  • December 2023 ARR is expected to be between $300 and $310 million, representing 21–25% year–over–year growth.
  • Full year 2023 adjusted EBITDA is expected to be between $35.0 and $40.0 million, representing 11–13% margin.

Conference Call Information

Cellebrite will host a live conference call and webcast later this morning to review the Company's financial results for the first quarter of 2023 and discuss its full–year 2023 outlook. Pertinent details include:

Date: Wednesday, May 10, 2023
Time: 8:30 a.m. ET
Call–In Number: 203–518–9814
Conference ID: CLBTQ123
Event URL: https://investors.cellebrite.com/events/event–details/cellebrite–q1–23–earnings
Webcast URL: https://edge.media–server.com/mmc/p/u58372yq

In conjunction with the conference call and webcast, historical financial tables and supplemental data will be available on the quarterly results section of Company's investor relations website at https://investors.cellebrite.com/financial–information/quarterly–results. A transcript of the call will be added to this page along with access to the replay of the call later in the day.

Non–GAAP Financial Information

This press release includes non–GAAP financial measures. Cellebrite believes that the use of non–GAAP net income, non–GAAP operating income and Adjusted EBITDA is helpful to investors. These measures, which the Company refers to as our non–GAAP financial measures, are not prepared in accordance with GAAP.

The Company believes that the non–GAAP financial measures provide a more meaningful comparison of its operational performance from period to period, and offer investors and management greater visibility to the underlying performance of its business. Mainly:

  • Share–based compensation expenses utilize varying available valuation methodologies, subjective assumptions and a variety of equity instruments that can impact a company's non–cash expenses;
  • Acquired intangible assets are valued at the time of acquisition and are amortized over an estimated useful life after the acquisition, and acquisition–related expenses are unrelated to current operations and neither are comparable to the prior period nor predictive of future results;
  • To the extent that the above adjustments have an effect on tax (income) expense, such an effect is excluded in the non–GAAP adjustment to net income;
  • Tax expense, depreciation and amortization expense vary for many reasons that are often unrelated to our underlying performance and make period–to–period comparisons more challenging; and
  • Financial instruments are remeasured according to GAAP and vary for many reasons that are often unrelated to the Company's current operations and affect financial income.

Each of our non–GAAP financial measures is an important tool for financial and operational decision making and for evaluating our own operating results over different periods of time. The non–GAAP financial measures do not represent our financial performance under U.S. GAAP and should not be considered as alternatives to operating income or net income or any other performance measures derived in accordance with GAAP. Non–GAAP measures should not be considered in isolated from, or as an alternative to, financial measures determined in accordance with GAAP. Non–GAAP financial measures may not provide information that is directly comparable to that provided by other companies in our industry, as other companies in our industry may calculate non–GAAP financial results differently, particularly related to non–recurring, unusual items. In addition, there are limitations in using non–GAAP financial measures because the non–GAAP financial measures are not prepared in accordance with GAAP, and exclude expenses that may have a material impact on our reported financial results. Further, share–based compensation expense has been, and will continue to be for the foreseeable future, significant recurring expenses in our business and an important part of the compensation provided to our employees. In addition, the amortization of intangible assets is expected recurring expense over the estimated useful life of the underlying intangible asset and acquisition–related expenses will be incurred to the extent acquisitions are made in the future. Furthermore, foreign exchange rates may fluctuate from one period to another, and the Company does not estimate movements in foreign currencies.

A reconciliation of each of these non–GAAP financial measures to their most comparable GAAP measure is set forth in a table included at the end of this press release, which is also available on our website at https://investors.cellebrite.com.

In regard to forward–looking non–GAAP guidance, we are not able to reconcile the forward–looking Adjusted EBITDA measure to the closest corresponding GAAP measure without unreasonable efforts because we are unable to predict the ultimate outcome of certain significant items including, but not limited to, fair value movements, share–based payments for future awards, tax expense, depreciation and amortization expense, and certain financing and tax items.

Key Performance Indicators

This press release also includes key performance indicators, including annual recurring revenue and dollar–based retention rate.

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 contracts and maintenance contracts for perpetual licenses are annualized by multiplying the revenue of the last month of the period by 12. The annualized value of contracts is a legal and contractual determination made by assessing the contractual terms with our customers. The annualized value of maintenance contracts is not determined by reference to historical revenue, deferred revenue or any other GAAP financial measure over any period. ARR is not a forecast of future revenues, which can be impacted by contract start and end dates and renewal rates.

Dollar–based net retention rate ("NRR") is calculated by dividing customer recurring revenue by base revenue. We define base revenue as recurring revenue we recognized from all customers with a valid license at the last quarter of the previous year period, during the four quarters ended one year prior to the date of measurement. We define our customer revenue as the recurring revenue we recognized during the four quarters ended on the date of measurement from the same customer base included in our measure of base revenue, including recurring revenue resulting from additional sales to those customers.

About Cellebrite

Cellebrite's (NASDAQ: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in Digital Intelligence solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite's Digital Intelligence platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more, visit us at www.cellebrite.com and https://investors.cellebrite.com.

Note: References to our website and the websites of third parties mentioned in this press release are inactive textual references only, and information contained therein or connected thereto is not incorporated into this press release.

Caution Regarding Forward–Looking Statements

This document includes "forward–looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," "anticipate," "will," "appear," "approximate," "foresee," "might," "possible," "potential," "believe," "could," "predict," "should," "could," "continue," "expect," "estimate," "may," "plan," "outlook," "future" and "project" and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward–looking statements include estimated financial information for fiscal year 2023 and certain statements related to being on track to achieve our original FY23 financial targets, being well positioned to drive improved year–over–year profitability and strong free cash flow over the coming quarters, and reiterating our full–year 2023 guidance. Such forward–looking statements including those with respect to 2023 revenue and annual recurring revenue, profitability and earnings as well as commentary associated with future performance, strategies, prospects, and other aspects of Cellebrite's business are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward–looking statements. These factors include, but are not limited to: Cellebrite's ability to keep pace with technological advances and evolving industry standards; Cellebrite's material dependence on the purchase, acceptance and use of its solutions by law enforcement and government agencies; real or perceived errors, failures, defects or bugs in Cellebrite's DI solutions; Cellebrite's failure to maintain the productivity of sales and marketing personnel, including relating to hiring, integrating and retaining personnel; intense competition in all of Cellebrite's markets; the inadvertent or deliberate misuse of Cellebrite's solutions; failure to manage its growth effectively; Cellebrite's ability to introduce new solutions and add–ons; its dependency on its customers renewing their subscriptions; the low volume of business Cellebrite conducts via e–commerce; risks associated with the use of artificial intelligence; the risk of requiring additional capital to support the growth of its business; risks associated with higher costs or unavailability of materials used to create its hardware product components; fluctuations in foreign currency exchange rates; lengthy sales cycle for some of Cellebrite's solutions; near term declines in new or renewed agreements; risks associated with inability to retain qualified personnel and senior management; the security of Cellebrite's operations and the integrity of its software solutions; risks associated with the negative publicity related to Cellebrite's business and use of its products; risks related to Cellebrite's intellectual property; the regulatory constraints to which Cellebrite is subject; risks associated with different corporate governance requirements applicable to Israeli companies and risks associated with being a foreign private issuer and an emerging growth company; market volatility in the price of Cellebrite's shares; changing tax laws and regulations; risks associated with joint, ventures, partnerships and strategic initiatives; risks associated with Cellebrite's significant international operations; risks associated with Cellebrite's failure to comply with anti–corruption, trade compliance, anti–money–laundering and economic sanctions laws and regulations; risks relating to the adequacy of Cellebrite's existing systems, processes, policies, procedures, internal controls and personnel for Cellebrite's current and future operations and reporting needs; and other factors, risks and uncertainties set forth in the section titled "Risk Factors" in Cellebrite's annual report on Form 20–F filed with the SEC on April 27, 2023 and in other documents filed by Cellebrite with the U.S. Securities and Exchange Commission ("SEC"), which are available free of charge at www.sec.gov. You are cautioned not to place undue reliance upon any forward–looking statements, which speak only as of the date made, in this communication or elsewhere. Cellebrite undertakes no obligation to update its forward–looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

Contacts:

Investor Relations
Andrew Kramer
Vice President, Investor Relations
investors@cellebrite.com
+1 973.206.7760

Media
Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910

Cellebrite DI Ltd.
First–Quarter 2023 Results Summary
(U.S Dollars in thousands)
For the three months ended
March 31,
2023 2022
(Unaudited) (Unaudited)
Revenue 71,234 62,385
Gross profit 58,828 51,402
Gross margin 82.6 % 82.4 %
Operating income (loss) 136 (1,946 )
Operating margin 0.2 % (3.1 )%
Net (loss) income (40,605 ) 55,438
Cash flow from operating activities 12,476 (10,537 )
Non–GAAP Financial Data:
Operating income 5,653 2,634
Operating margin 7.9 % 4.2 %
Net income 6,899 1,420
Adjusted EBITDA 7,304 4,082
Adjusted EBITDA margin 10.3 % 6.5 %

Cellebrite DI Ltd.
Condensed Consolidated Balance Sheets
(U.S. Dollars in thousands)
March 31, December 31,
2023 2022
Unaudited Audited
Assets
Current assets
Cash and cash equivalents $ 98,972 $ 87,645
Short–term deposits 54,740 51,335
Marketable securities 48,938 44,643
Trade receivables (net of allowance for doubtful accounts of $1,264 and $1,904 as of March 31, 2023 and December 31, 2022, respectively) 69,594 78,761
Prepaid expenses and other current assets 20,259 17,085
Contract acquisition costs 6,377 6,286
Inventories 11,405 10,176
Total current assets 310,285 295,931
Non–current assets
Other non–current assets 2,657 1,731
Marketable securities 18,521 22,125
Deferred tax assets, net 11,894 12,511
Property and equipment, net 16,725 17,259
Intangible assets, net 10,458 11,254
Goodwill 26,829 26,829
Operating lease right–of–use assets, net 15,320 15,653
Total non–current assets 102,404 107,362
Total assets $ 412,689 $ 403,293
Liabilities and shareholders' equity
Current Liabilities
Trade payables $ 4,918 $ 4,612
Other accounts payable and accrued expenses 37,198 45,453
Deferred revenues 157,903 152,709
Operating lease liabilities 4,723 5,003
Total current liabilities 204,742 207,777
Long–term liabilities
Other long term liabilities 5,577 5,394
Deferred revenues 48,384 42,173
Restricted Sponsor Shares liability 28,574 17,532
Price Adjustment Shares liability 46,126 26,184
Warrant liability 29,824 20,015
Operating lease liabilities 10,105 10,353
Total long–term liabilities 168,590 121,651
Total liabilities $ 373,332 $ 329,428
Shareholders' equity
Share capital * ) * )
Additional paid–in capital (119,061 ) (125,624 )
Treasury share, NIS 0.00001 par value; 41,776 ordinary shares (85 ) (85 )
Accumulated other comprehensive (loss) income (135 ) 331
Retained earnings 158,638 199,243
Total shareholders' equity 39,357 73,865
Total liabilities and shareholders' equity $ 412,689 $ 403,293

*) Less than 1 USD

Cellebrite DI Ltd.
Condensed Consolidated Statements of Income
(U.S Dollars in thousands, except share and per share data)
For the three months ended
March 31,
2023 2022
(Unaudited) (Unaudited)
Revenue:
Subscription services $ 47,367 $ 36,361
Term–license 13,915 11,824
Total subscription 61,282 48,185
Other non–recurring* 2,918 5,972
Professional services 7,034 8,228
Total revenue 71,234 62,385
Cost of revenue:
Subscription services 4,492 3,768
Term–license 2 250
Total subscription 4,494 4,018
Other non–recurring* 2,981 2,207
Professional services 4,931 4,758
Total cost of revenue 12,406 10,983
Gross profit $ 58,828 $ 51,402
Operating expenses:
Research and development 21,131 19,576
Sales and marketing 27,601 23,259
General and administrative 9,960 10,513
Total operating expenses $ 58,692 $ 53,348
Operating income (loss) $ 136 $ (1,946 )
Financial (expense) income, net (38,775 ) 56,400
(Loss) Income before tax (38,639 ) 54,454
Tax expense (income) 1,966 (984 )
Net (Loss) income $ (40,605 ) $ 55,438
(Loss) earnings per share
Basic $ (0.21 ) $ 0.29
Diluted $ (0.21 ) $ 0.27
Weighted average shares outstanding
Basic 186,338,076 180,545,126
Diluted 198,184,236 196,142,739
Other comprehensive (loss) income:
Unrealized loss on hedging transactions (44 ) (1,150 )
Unrealized income (loss) on marketable securities 177 (49 )
Currency translation adjustments (598 ) 402
Total other comprehensive loss, net of tax (465 ) (797 )
Total other comprehensive (loss) income $ (41,070 ) $ 54,641

* Other non–recurring is composed of hardware sales, usage fees and perpetual licenses, and was previously referred to "Perpetual license and other." Changing the name for this type of revenue reflects that perpetual license revenue has declined to relatively insignificant levels with hardware sales now representing the majority of this type of revenue.

Cellebrite DI Ltd.
Condensed Consolidated Statements of Cash Flow
(U.S Dollars in thousands, except share and per share data)
For the three months ended
March 31,
2023 2022
(Unaudited) (Unaudited)
Cash flow from operating activities:
Net (loss) income $ (40,605 ) $ 55,438
Adjustments to reconcile net income to net cash provided by operating activities:
Share based compensation and RSUs 4,457 2,858
Amortization of premium, discount and accrued interest on marketable securities (171 ) 17
Depreciation and amortization 2,447 2,112
Interest income from short term deposits (684 ) (62 )
Deferred income taxes 560 (924 )
Remeasurement of warrant liability 9,809 (17,083 )
Remeasurement of Restricted Sponsor Shares 11,042 (13,506 )
Remeasurement of Price Adjustment Shares liabilities 19,942 (25,759 )
Decrease in trade receivables 9,627 7,015
Increase (decrease) in deferred revenue 10,468 (5,916 )
Increase in other non–current assets (927 ) (33 )
(Increase) decrease in in prepaid expenses and other current assets (3,637 ) 750
Changes in operating lease assets 1,367 ""
Changes in operating lease liability (1,562 ) ""
Increase in inventories (1,225 ) (1,347 )
Increase (decrease) in trade payables 264 (352 )
Decrease in other accounts payable and accrued expenses (8,879 ) (11,085 )
Increase (decrease) in other long–term liabilities 183 (2,660 )
Net cash provided by (used in) operating activities 12,476 (10,537 )
Cash flows from investing activities:
Purchases of property and equipment (1,064 ) (2,305 )
Investment in marketable securities (16,352 ) (29,276 )
Proceeds from maturity of marketable securities 16,073 ""
Investment in short term deposits (16,000 ) (7,000 )
Redemption of short term deposits 13,279 25,181
Net cash used in investing activities (4,064 ) (13,400 )
Cash flows from financing activities:
Exercise of options to shares 2,106 3,627
Proceeds from Employee Share Purchase Plan, net 624 ""
Net cash provided by financing activities 2,730 3,627
Net increase (decrease) in cash and cash equivalents 11,142 (20,310 )
Net effect of Currency Translation on cash and cash equivalents 185 56
Cash and cash equivalents at beginning of period 87,645 145,973
Cash and cash equivalents at end of period $ 98,972 $ 125,719
Supplemental cash flow information:
Income taxes paid $ 3,625 $ 1,287
Non–cash activities
Purchase of property and equipment $ "" $ 133

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,
2023 2022
Unaudited Unaudited
Cost of revenue $ 12,406 $ 10,983
Less:
Share based compensation 386 246
Acquisition related costs 13 ""
Non–GAAP cost of revenue $ 12,007 $ 10,737

For the three months ended
March 31,
2023 2022
Unaudited Unaudited
Gross profit $ 58,828 $ 51,402
Share based compensation 386 246
Acquisition related costs 13 –
Non–GAAP gross profit $ 59,227 $ 51,648

For the three months ended
March 31,
2023 2022
Unaudited Unaudited
Operating expenses $ 58,692 $ 53,348
Less:
Share based compensation 4,071 2,612
Amortization of intangible assets 796 664
Acquisition related costs 251 1,058
Non–GAAP operating expenses $ 53,574 $ 49,014

For the three months ended
March 31,
2023 2022
Unaudited Unaudited
Operating income (loss) $ 136 $ (1,946 )
Share based compensation 4,457 2,858
Amortization of intangible assets 796 664
Acquisition related costs 264 1,058
Non–GAAP operating income $ 5,653 $ 2,634

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,
2023 2022
Unaudited Unaudited
Net (loss) income $ (40,605 ) $ 55,438
One time tax income "" (1,825 )
Share based compensation 4,457 2,858
Amortization of intangible assets 796 664
Acquisition related costs 264 1,058
Tax expense (income) 1,194 (425 )
Finance expense (income) from financial derivatives 40,793 (56,348 )
Non–GAAP net income $ 6,899 $ 1,420
Non–GAAP Earnings per share:
Basic $ 0.04 $ 0.01
Diluted $ 0.03 $ 0.01
Weighted average shares outstanding:
Basic 186,338,076 180,545,126
Diluted 198,184,236 196,142,739

For the three months ended
March 31,
2023 2022
Unaudited Unaudited
Net (loss) income $ (40,605 ) $ 55,438
Financial expense (income), net 38,775 (56,400 )
Tax expense (income) 1,966 (984 )
Share based compensation 4,457 2,858
Amortization of intangible assets 796 664
Acquisition related costs 264 1,058
Depreciation expenses 1,651 1,448
Adjusted EBITDA $ 7,304 $ 4,082


GLOBENEWSWIRE (Distribution ID 8835887)

Cellebrite Announces Participation in Upcoming Investor Conferences

PETAH TIKVA, Israel and TYSONS CORNER, Va., May 03, 2023 (GLOBE NEWSWIRE) — Cellebrite (NASDAQ: CLBT), a global leader in Digital Intelligence solutions for the public and private sectors, today announced the Company plans to participate in the following investor conferences in May and June:

Date: May 16, 2023
Conference: Needham & Co. Technology & Media Conference
Presentation Time: 10:15 a.m. ET
Format Fireside Chat
Event URL: https://investors.cellebrite.com/events/event–details/needham–co–18th–annual–technology–and–media–conference
Cellebrite executives: Dana Gerner, chief financial officer
Andrew Kramer, vice president, investor relations

Date: May 21, 2023
Conference: Oppenheimer 24th Annual Israeli Conference
Presentation Time: 5:35 p.m. ET
Format Fireside Chat
Event URL: https://investors.cellebrite.com/events/event–details/oppenheimer–24th–annual–israeli–conference
Cellebrite executives: Dana Gerner, chief financial officer

Date: May 23, 2023
Conference: J.P. Morgan 51st Annual Global Technology, Media and Communications Conference
Presentation Time: 5:15 p.m. ET
Format Fireside Chat
Event URL: https://investors.cellebrite.com/events/event–details/jp–morgan–51st–annual–global–technology–media–and–communications–conference
Cellebrite executives: Dana Gerner, chief financial officer
Andrew Kramer, vice president, investor relations

Date: June 1, 2023
Conference: TD Cowen 51st Annual Technology, Media & Telecom Conference
Presentation Time: 9:05 a.m. ET
Format: Fireside Chat
Event URL: https://investors.cellebrite.com/events/event–details/cowen–51st–annual–technology–media–telecom–conference
Cellebrite executives: Dana Gerner, chief financial officer
Andrew Kramer, vice president, investor relations

Date: June 8, 2023
Conference: William Blair 43rd Annual Growth Stock Conference
Presentation Time: 9:40 a.m. ET
Format: Presentation
Event URL: https://investors.cellebrite.com/events/event–details/william–blair–43rd–annual–growth–stock–conference
Cellebrite executives: Yossi Carmil, chief executive officer
Dana Gerner, chief financial officer
Andrew Kramer, vice president, investor relations

About Cellebrite
Cellebrite's (NASDAQ: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in Digital Intelligence solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite's Digital Intelligence platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more, visit us at www.cellebrite.com and https://investors.cellebrite.com.

Media
Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910

Investor Relations
Andrew Kramer
Vice President, Investor Relations
investors@cellebrite.com
+1 973.206.7760


GLOBENEWSWIRE (Distribution ID 8830180)

Cellebrite to Release First-Quarter 2023 Financial Results on May 10, 2023

PETAH TIKVA, Israel and TYSONS CORNER, Va., April 11, 2023 (GLOBE NEWSWIRE) — Cellebrite (NASDAQ: CLBT), a global leader in Digital Intelligence ("DI") solutions for the public and private sectors, today announced it will report its first–quarter 2023 financial results before market open on Wednesday, May 10, 2023.

Later that same morning, Cellebrite will host a live conference call and webcast to review the Company's financial results for the first quarter of 2023 and discuss its full–year 2023 outlook. Pertinent details include:

Date: Wednesday, May 10, 2023
Time: 8:30 a.m. ET
Call–In Number: 203–518–9814
Conference ID: CLBTQ123
Event URL: https://investors.cellebrite.com/events/event–details/cellebrite–q1–23–earnings
Live Webcast URL: https://edge.media–server.com/mmc/p/u58372yq

In conjunction with the conference call and webcast, historical financial tables and supplemental data will be available on the quarterly results section of Company's investor relations website at https://investors.cellebrite.com/financial–information/quarterly–results. A transcript of the call will be added to this page along with access to the replay of the call.

About Cellebrite
Cellebrite's (NASDAQ: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in Digital Intelligence solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite's Digital Intelligence platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more, visit us at www.cellebrite.com and https://investors.cellebrite.com.

Media
Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910

Investor Relations
Andrew Kramer
investors@cellebrite.com


GLOBENEWSWIRE (Distribution ID 8805685)