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Cellebrite Announces Enhanced Solution Capabilities for Digital Investigations

PETAH TIKVA, Israel and TYSONS CORNER, Va., March 21, 2023 (GLOBE NEWSWIRE) — Cellebrite DI Ltd. (Nasdaq: CLBT), a leading global provider of Digital Intelligence (DI) solutions, announced today the global launch of Pathfinder X, an elevated suite of artificial intelligence (AI)–enabled capabilities for a wide variety of digital data from various sources designed to provide enhanced connectivity capabilities and valuable insights to agencies and teams working through complex investigations.

"Cellebrite's investigative analytics have long provided our investigative partners with trusted end–to–end digital intelligence solutions, leading to actionable evidence and accelerated justice outcomes," says Ronnen Armon, Cellebrite's Chief Products & Technologies Officer. "Today's Pathfinder X launch brings a new level of trust and capability to our agency and customer teams as they work in an increasingly complex digital environment."

Pathfinder X now offers:

  • Cloud deployment options on AWS and Azure VPC.
  • A hub and spoke deployment format ideal for geographically dispersed teams.
  • A new user management system with audit trails and group assignments to ensure enhanced security and compliance with government and Federal security requirements, including FISMA.

Following digital data extraction, Pathfinder X seamlessly identifies connections in collected data, regardless of origin and lawful extraction technology, to more quickly and accurately pinpoint potential persons of interest based on their shared content and correlated actions. The software improves reporting services with location modeling that provides precise data mapping and the ability to identify data duplication "" an important capability that streamlines and expedites investigations.

Pathfinder's enhanced capabilities have already been deployed on several investigations including one pending case involving the Lake Jackson Police Department. After receiving a tip from the National Center for Missing & Exploited Children (NCMEC) of a suspect alleged to be in possession of Child Sex Abuse Materials (CSAM), notably containing a live child victim, the department used Cellebrite's Pathfinder technology to strengthen its case.

"I collected CSAM evidence from a variety of data sources in this case and using Cellebrite Pathfinder's powerful AI, I was able to process and compare known images of the child victim to the CSAM evidence, which has made this case stronger as it proceeds through the justice system," says Detective Sergeant Chris Collins at the Department.

From the crime scene to the courtroom, Cellebrite is an established and trusted partner for investigative teams at the state, local and federal levels and used in jurisdictions around the world. Today's Pathfinder announcement comes following significant investments in the technology including a $10 million contract with a European national police force and an agreement worth more than $1 million with a large Australian police force.

For more information about Cellebrite Pathfinder X, 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

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


GLOBENEWSWIRE (Distribution ID 8792236)

Cellebrite Announces Fourth Quarter 2022 Results

ARR of $249 million, up 33% year–over–year

Fourth–quarter revenue of $74.0 million, Increase 9% year–over–year

Fourth–quarter adjusted EBITDA of $16.1 million, 21.8% adjusted EBITDA margin

PETAH TIKVA, Israel and TYSONS CORNER, Va., Feb. 15, 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 and twelve months ending December 31, 2022.

"We ended 2022 with solid quarterly results fueled by our industry–leading technology in a healthy Digital Intelligence market. Our market leadership remains strong as a result of the tangible progress and investments we have made in innovating across our platforms and executing on our go–to–market strategy," said Yossi Carmil, Cellebrite's CEO. "As data volumes are surging, data complexity is increasing and scrutiny around ethics and accountability are mounting, we are committed to helping customers modernize their investigations by digitizing the evidence workflows end–to–end. We enter 2023 well positioned to accelerate our revenue growth rate and drive improved profitability as we continue to capitalize on the strong demand we see for our offerings."

Fourth Quarter Financial Highlights

  • Annual Recurring Revenue (ARR) of $249 million, up 33% year–over–year
  • Revenue of $74.0 million, up 9% year–over–year, of which subscription revenue was $62.3 million, up 24% year–over–year
  • Recurring revenue dollar–based net retention rate of 130%
  • GAAP gross profit and gross margin of $61.9 million and 83.6%, respectively
  • GAAP net income of $7.1 million; Non–GAAP net income of $15.3 million
  • GAAP diluted EPS of $0.04; Non–GAAP diluted EPS of $0.08
  • Adjusted EBITDA and adjusted EBITDA margin of $16.1 million and 21.8%, respectively

Full Year Financial Highlights

  • Revenue of $270.7 million, up 10% year–over–year, of which subscription revenue was $216.0 million, up 18% year–over–year
  • GAAP gross profit and gross margin of $219.9 million and 81.3%, respectively
  • GAAP net income of $120.8 million; Non–GAAP net income of $19.7 million
  • Adjusted EBITDA and Adjusted EBITDA margin of $25.9 million and 10%, respectively

Fourth Quarter and Recent Digital Intelligence Highlights

  • Closed 29 large deals in the fourth quarter, each valued at $500,000 or more.
  • Won a $14 million agreement with a leading law enforcement agency in Asia for the company's Advanced Extraction Solution.
  • Signed a $10+ million deal with a major West European national police force, marking one of the Company's largest digital intelligence deals, further validating digital intelligence as an essential accelerator for investigators.
  • Announced that its collaboration with the Vanderburgh Co. Cyber Crime Task Force to service 29 agencies across 11 U.S. states has helped accelerate justice by reducing the time it takes to investigate and successfully prosecute felonies.
  • Launched new cloud workplace app collection capability for Cellebrite Endpoint Inspectorthataims to improve organizations' investigation and eDiscovery capabilities. Thisnew functionalitywill enable customers to collect remote mobile and computer data as well as cloud workplace application data in one unified platform, reducing time and costs associated with the collection of data of these apps.
  • Published the Enterprise Solutions 2023 Industry Trends Report, which highlights major data collection headaches arising from a hybrid work environment that threaten to slow down corporate fraud, IP theft and sexual harassment investigations for eDiscovery professionals and corporate investigators.
  • Partnered with the Gangmasters and Labour Abuse Authority (GLAA), and The Exodus Road to help these organizations advance their efforts to advance their respective missions and eliminate forced labor and human trafficking.

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

"With a strong 33% annual growth in ARR during 2022 and 84% of our fourth–quarter 2022 revenue coming from subscription software licenses, Cellebrite has largely completed a successful, multi–year transition to subscription software," said Dana Gerner, Chief Financial Officer of Cellebrite. "Looking ahead, we are well positioned to increase our revenue growth rate and sustain solid ARR momentum in 2023 as we continue expanding wallet share with existing customers, complemented by winning new logos. We anticipate that the combination of our top–line growth and prudent investment in our operations will enable us to drive improvement in our profitability during 2023, and keep us on track to reach our original long–term EBITDA margin target of 20% or greater."

  • December 2023 ARR is expected to be between $300 and $310 million, representing 21–25% year on year growth.
  • Full year 2023 revenue is expected to be between $305 and $315 million, representing 13–16% year on 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
Today, February 15, 2023, at 8:30 a.m. ET, Cellebrite will host a conference call and webcast to discuss the Company's financial results for the fourth quarter 2022. The call details are below:

Telephone participants are advised to register in advance at:
https://register.vevent.com/register/BIa98ecd8f02c04567a1515497e1f850c8.

Upon registration, participants will receive a confirmation email detailing how to join the conference call, including the dial–in number and a unique registrant ID.

The live conference call will be webcast in listen–only mode at: https://edge.media–server.com/mmc/p/6j7zngzy.

The webcast will remain available after the call at: https://investors.cellebrite.com/events–presentations

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 offers 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.

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. Term–based 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.

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.

Contacts:

Investors
Investor Relations
investors@cellebrite.com

Media
Victor Cooper
Public Relations and Corporate Communications Director
+1 404 804 5910
Victor.cooper@cellebrite.com

Cellebrite DI Ltd.
Fourth Quarter 2022 Results Summary
(U.S Dollars in thousands)

For the three months ended For the Year ended
December 31, December 31,
2022 2021 2022 2021
Revenue 74,018 67,908 270,651 246,246
Gross profit 61,887 55,572 219,905 203,689
Gross margin 83.6 % 81.8 % 81.3 % 82.7 %
Operating income 9,674 4,306 1,044 13,822
Operating margin 13.1 % 6.3 % 0.4 % 5.6 %
Cash flow from operating activities 35,743 29,792 20,577 36,052
Non–GAAP Financial Data:
Operating income 14,428 7,751 19,538 42,869
Operating margin 19.5 % 11.4 % 7.2 % 17.4 %
Adjusted EBITDA 16,114 8,874 25,906 47,905
Adjusted EBITDA margin 21.8 % 13.1 % 9.6 % 19.5 %


Cellebrite DI Ltd.
Condensed Consolidated Balance Sheets
(U.S. Dollars in thousands)

December 31, December 31,
2022 2021
Assets
Current assets
Cash and cash equivalents $ 87,645 $ 145,973
Short–term deposits 51,335 35,592
Marketable securities 44,643 ""
Trade receivables (net of allowance for doubtful accounts of $1,904 and $1,040 as of December 31, 2022 and 2021, respectively) 78,761 67,505
Prepaid expenses and other current assets 17,085 12,818
Contract acquisition costs 6,286 4,813
Inventories 10,176 6,511
Total current assets 295,931 273,212
Non–current assets
Other non–current assets 1,731 1,958
Marketable securities 22,125 ""
Deferred tax assets, net 12,511 9,800
Property and equipment, net 17,259 16,756
Intangible assets, net 11,254 11,228
Goodwill 26,829 26,829
Operating lease right–of–use assets, net 15,653 ""
Total non–current assets 107,362 66,571
Total assets $ 403,293 $ 339,783
Liabilities and shareholders' equity (deficiency)
Current Liabilities
Trade payables $ 4,612 $ 9,546
Other accounts payable and accrued expenses 45,453 54,044
Deferred revenues 152,709 122,983
Operating lease liabilities 5,003 ""
Total current liabilities 207,777 186,573
Long–term liabilities
Other long term liabilities 5,394 9,537
Deferred revenues 42,173 36,426
Restricted Sponsor Shares liability 17,532 44,712
Price Adjustment Shares liability 26,184 79,404
Warrant liability 20,015 56,478
Operating lease liabilities 10,353 ""
Total long–term liabilities 121,651 226,557
Total liabilities $ 329,428 $ 413,130
Shareholders' equity (deficiency)
Share capital *) *)
Additional paid–in capital (125,624 ) (153,072 )
Treasury share, NIS 0.00001 par value; 41,776 ordinary shares (85 ) (85 )
Accumulated other comprehensive income 331 1,372
Retained earnings 199,243 78,438
Total shareholders' equity (deficiency) 73,865 (73,347 )
Total liabilities and shareholders' equity (deficiency) $ 403,293 $ 339,783

*) 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 For the Year ended
December 31, December 31,
2022 2021 2022 2021
Revenue:
Subscription services $ 43,698 $ 31,999 $ 153,470 $ 120,889
Term–license 18,625 18,088 62,487 62,428
Total subscription 62,323 50,087 215,957 183,317
Perpetual license and related 3,666 9,387 21,373 34,169
Professional services 8,029 8,434 33,321 28,760
Total revenue 74,018 67,908 270,651 246,246
Cost of revenue:
Subscription services 3,681 2,045 16,875 9,369
Term–license 50 753 425 2,299
Total subscription 3,731 2,798 17,300 11,668
Perpetual license and related 3,381 4,659 12,987 9,817
Professional services 5,019 4,879 20,459 21,072
Total cost of revenue 12,131 12,336 50,746 42,557
Gross profit $ 61,887 $ 55,572 $ 219,905 $ 203,689
Operating expenses:
Research and development 19,734 18,833 80,620 65,541
Sales and marketing 23,669 21,239 97,387 76,389
General and administrative 8,810 11,194 40,854 47,937
Total operating expenses $ 52,213 $ 51,266 $ 218,861 $ 189,867
Operating income $ 9,674 $ 4,306 $ 1,044 $ 13,822
Financial (expense) income, net (572 ) 49,809 119,716 68,483
Income before tax 9,102 54,115 120,760 82,305
Tax expense (income) 2,024 2,244 (45 ) 10,909
Net income $ 7,078 $ 51,871 $ 120,805 $ 71,396
Earnings per share
Basic $ 0.04 $ 0.28 $ 0.64 $ 0.49
Diluted $ 0.04 $ 0.25 $ 0.59 $ 0.44
Weighted average shares outstanding
Basic 184,952,107 180,170,342 182,693,375 144,002,394
Diluted 192,786,615 199,082,479 195,393,558 161,538,579
Other comprehensive income:
Unrealized income (loss) on hedging transactions 1,194 495 (953 ) (944 )
Unrealized income (loss) on marketable securities 44 "" (502 ) ""
Currency translation adjustments (133 ) 955 414 995
Total other comprehensive income (loss) net of tax 1,105 1,450 (1,041 ) 51
Total other comprehensive income $ 8,183 $ 53,321 $ 119,764 $ 71,447


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 For the Year ended
December 31, December 31,
2022 2021 2022 2021
Cash flow from operating activities:
Net income $ 7,078 $ 51,871 $ 120,805 $ 71,396
Adjustments to reconcile net income to net cash provided by operating activities:
Share based compensation and RSU's 3,787 1,661 13,708 6,480
Amortization of premium, discount and accrued interest on marketable securities (225 ) "" (372 )
Depreciation and amortization 2,520 1,814 9,194 7,007
Interest income from short term deposits (318 ) "" (684 ) ""
Deferred income taxes (61 ) 269 (2,392 ) (1,638 )
Remeasurement of warrant liability 375 (15,506 ) (36,463 ) (11,967 )
Remeasurement of Restricted Sponsor Shares 1,381 (11,181 ) (27,180 ) (17,635 )
Remeasurement of Price Adjustment Shares liabilities 1,211 (23,934 ) (53,220 ) (38,271 )
Decrease (increase) in trade receivables 11,242 8,690 (12,885 ) (1,958 )
Increase in deferred revenue 18,953 9,152 38,966 21,804
Decrease (increase) in other non–current assets 94 (1,779 ) 227 (1,394 )
(Increase) decrease in prepaid expenses and other current assets (4,431 ) 2,541 (5,692 ) (8,304 )
Changes in operating lease assets 4,667 "" 4,667 ""
Changes in operating lease liability (5,955 ) "" (5,955 ) ""
Increase in inventories (812 ) (1,711 ) (3,680 ) (1,798 )
(Decrease) increase in trade payables (895 ) 2,955 (5,471 ) 4,239
(Decrease) increase in other accounts payable and accrued expenses (2,060 ) 2,428 (8,853 ) 5,107
(Decrease) increase in other long–term liabilities (808 ) 2,522 (4,143 ) 2,984
Net cash provided by operating activities 35,743 29,792 20,577 36,052
Cash flows from investing activities:
Purchases of property and equipment (1,391 ) (778 ) (6,897 ) (5,111 )
Cash paid in conjunction with acquisitions, net of acquired cash "" (20,000 ) "" (20,000 )
Purchase of Intangible assets (1,788 ) "" (2,188 ) ""
Investment in marketable securities (9,253 ) "" (89,364 ) ""
Proceeds from maturity of marketable securities 7,445 "" 22,277 ""
Assets acquisition "" "" "" (3,000 )
Investment in short term deposits (51,000 ) (21,000 ) (76,000 ) (21,000 )
Redemption of short term deposits 18,544 47,210 60,941 94,337
Net cash (used in) provided by investing activities (37,443 ) 5,432 (91,231 ) 45,226
Cash flows from financing activities:
Payment of dividend "" "" "" (100,000 )
Exercise of options to shares 1,327 944 12,628 2,305
Proceeds from Employee Share Purchase Plan, net 657 "" 1,337 ""
Exercise of public warrants "" "" 5 ""
Proceeds from Recapitalization transaction, net "" "" "" 29,298
Net cash provided by (used in) financing activities 1,984 944 13,970 (68,397 )
Net increase (decrease) in cash and cash equivalents 284 36,168 (56,684 ) 12,881
Net effect of Currency Translation on cash and cash equivalents 2,795 (81 ) (1,644 ) (754 )
Cash and cash equivalents at beginning of period 84,566 109,886 145,973 133,846
Cash and cash equivalents at end of period $ 87,645 $ 145,973 $ 87,645 $ 145,973
Supplemental cash flow information:
Income taxes paid $ 3,727 $ 1,758 $ 9,053 $ 8,157
Non–cash activities
Purchase of property and equipment $ "" $ 749 $ "" $ 814
Purchase of Intangible assets $ 493 $ "" $ 664 $ ""


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 For the year ended
December 31, December 31,
2022 2021 2022 2021
Unaudited Unaudited Unaudited Unaudited
Operating income $ 9,674 $ 4,306 $ 1,044 $ 13,822
Issuance expenses "" "" "" 11,835
Dividend participation compensation "" "" "" 966
Share based compensation 3,787 1,661 13,708 6,480
Amortization of intangible assets 834 607 2,826 1,971
Acquisition related costs 133 1,177 1,960 7,795
Non–GAAP operating income $ 14,428 $ 7,751 $ 19,538 $ 42,869
For the three months ended For the year ended
December 31, December 31,
2022 2021 2022 2021
Unaudited Unaudited Unaudited Unaudited
Net income $ 7,078 $ 51,871 $ 120,805 $ 71,396
One time tax (income) expense "" "" (2,368 ) 7,067
Issuance expenses "" "" "" 11,835
Dividend participation compensation "" "" "" 966
Share based compensation 3,787 1,661 13,708 6,480
Amortization of intangible assets 834 607 2,826 1,971
Acquisition related costs 133 1,177 1,960 7,795
Tax expense (income) 516 498 (384 ) (1,670 )
Finance expense (income) from financial derivatives 2,967 (50,621 ) (116,863 ) (67,873 )
Non–GAAP net income $ 15,315 $ 5,193 $ 19,684 $ 37,967
Non–GAAP Earnings per share:
Basic 0.08 $ 0.03 0.10 $ 0.26
Diluted 0.08 $ 0.03 0.10 $ 0.24
Weighted average shares outstanding:
Basic 184,952,107 180,170,342 182,693,375 144,002,394
Diluted 192,786,615 199,082,479 195,393,558 161,538,579

For the three months ended For the year ended
December 31, December 31,
2022 2021 2022 2021
Unaudited Unaudited Unaudited Unaudited
Net income $ 7,078 $ 51,871 $ 120,805 $ 71,396
Financial expense (income), net 572 (49,809 ) (119,716 ) (68,483 )
Tax expense (income) 2,024 2,244 (45 ) 10,909
Issuance expenses "" "" "" 11,835
Dividend participation compensation "" "" "" 966
Share based compensation 3,787 1,661 13,708 6,480
Amortization of intangible assets 834 607 2,826 1,971
Acquisition related costs 133 1,177 1,960 7,795
Depreciation expenses 1,686 1,123 6,368 5,036
Adjusted EBITDA $ 16,114 $ 8,874 $ 25,906 $ 47,905


GLOBENEWSWIRE (Distribution ID 8749609)

Cellebrite and The Exodus Road Continue Combatting Human Trafficking in Brazil

PETAH TIKVA, Israel and TYSONS CORNER, Va. and COLORADO SPRINGS, Colo., Jan. 30, 2023 (GLOBE NEWSWIRE) — Cellebrite DI Ltd. (Nasdaq: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, and The Exodus Road, an international nonprofit organization specializing in disrupting human trafficking, today announced the impact of their collaboration in 2022 in Brazil.

As a result of Cellebrite's collaboration alongside The Exodus Road in Brazil with Brazil leading law enforcement organizations, nine successful operations were performed separately by the Brazil Federal Police, Border Police, and the Ministry of Public Labor in 2022.

The nine cases led to the direct intervention of 152 survivors of human trafficking and 20 perpetrators being held accountable. Despite the magnitude of this victory, the individual stories must not be overlooked. These individuals are people from all walks of life, ranging in age and nationality, who have been enslaved, exploited sexually, trafficked or forced into begging. The results from 2022 are a stark and vivid reminder that the fight against human trafficking is far from over. Cellebrite and The Exodus Road are committed to the mission of ending human trafficking in all forms.

"We are pleased to see our partnership with The Exodus Road have a significant impact in Brazil's efforts to combat human trafficking," said Marque Teegardin, President of Cellebrite Americas. "Cellebrite is committed to providing The Exodus Road with funding and in–kind solutions and services that support the growth of The Exodus Road's training programs and play an important role in the fight against human trafficking."

"In these cases and others, Cellebrite's contributions have empowered law enforcement, through the use of training curriculum and technology, in critical points of case development," commented Matt Parker, Co–founder and Chief Strategist at The Exodus Road. "The Exodus Road is grateful to have such a committed and robust partnership on the front lines of our work to disrupt human–trafficking crime."

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 The Exodus Road
The Exodus Road is a global nonprofit disrupting the darkness of modern–day slavery by partnering with law enforcement to fight human–trafficking crime, equipping communities to protect the vulnerable and empowering survivors as they walk into freedom. Working side–by–side with local staff, NGO partners and law enforcement around the world, The Exodus Road fights to liberate trafficked individuals, arrest traffickers, and provide restorative care for survivors. Since its founding in 2012, the organization has assisted police in the rescue of more than 1900 survivors and the arrests of 1000 offenders, numbers that grow almost daily. The Exodus Road's approach to freedom incorporates intervention, training and education, and aftercare efforts.

In September 2021, The Exodus Road launched TraffickWatch Academy: U.S., a free, online, multimedia training module that unpacks the complexities of human trafficking and educates viewers with methods for identifying signs of trafficking and how to intervene. The organization is also launching a similar training throughout Brazil designed specifically for law enforcement partners. In November, the nonprofit opened Freedom Home in Thailand to house survivors of human trafficking and sexual exploitation. The Exodus Road combats human trafficking in the U.S., Thailand, Brazil, the Philippines, India and in another Latin American country, undisclosed for security reasons.

For additional information on what you can do to help stop trafficking, please visit The Exodus Road's website at https://theexodusroad.com/, or on Facebook, Instagram, Twitter and YouTube.

Cellebrite Contacts

Media
Victor Cooper
Public Relations and Corporate Communications Director
Victor.cooper@cellebrite.com
+1 404.804.5910

Investors

Investor Relations
investors@cellebrite.com

The Exodus Road Contacts

Mackenzie Spillane
Director of Media Relations
Mackenzie@theexodusroad.com
+1 719–648–4291


GLOBENEWSWIRE (Distribution ID 8738359)

Cellebrite Enterprise Solutions 2023 Industry Trends Report Finds 70 Percent of eDiscovery Professionals State Accessing Data Offsite Is a Major Endpoint Collection Problem

Hybrid work causing major data collection headaches for eDiscovery professionals, slowing down corporate fraud, IP theft and sexual assault investigations

Collecting data from offsite mobile devices, chat apps and remote employees are some of the top challenges faced by corporate investigators

PETAH TIKVA, Israel and TYSONS CORNER, Va., Jan. 24, 2023 (GLOBE NEWSWIRE) — A study commissioned by digital intelligence leader Cellebrite DI Ltd. (NASDAQ: CLBT) has revealed that hybrid work is creating major data collection headaches for eDiscovery professionals and corporate investigators and is slowing down corporate fraud, IP theft and sexual harassment investigations.

The data reveals that both in–house and agency investigators are facing new challenges caused by the pandemic–induced rise in hybrid and remote working. The top three issues highlighted by respondents are as follows:

  • 70 percent of eDiscovery professionals say accessing data from offsite mobile devices is a major endpoint collection problem
  • 63 percent of eDiscovery professional say accessing data from WhatsApp, WeChat and Telegram is a major endpoint collection problem
  • 56 percent of eDiscovery professionals say collecting data from employees working remotely is a major endpoint collection problem

The data, gathered from 550 eDiscovery professionals and corporate investigators in 45 countries, also illustrates how the abundance of chat and collaboration tools "" again accelerated by the pandemic "" is spreading digital evidence across a broadening range of platforms.

Cellebrite Enterprise Solutions' Endpoint Inspector helps relieve these pain points by:

  • Creating and defining targeted collections from remote computers, remote mobile devices, and supported cloud workplace applications like Office365, Google Workspace, Slack and Box
  • Easily collecting only what is needed from endpoints and cloud workplace applications without employees having to hand over their device, saving valuable resources
  • Accessing a single source for cloud workplace app collection without logging into every app and pulling all data from multiple sources for every employee

Ken Basore, General Manager at Cellebrite Enterprise Solutions comments: "This study clearly shows that the rise in hybrid working is creating new challenges for investigators such as remote data extraction and the splintering of data across emerging collaboration tools. Organizations must equip professionals with the people, skills and technology required to extract, analyze, manage and store remote digital evidence. If these investments aren't made, there will be real world consequences including rising cases of business fraud, growing, exposure to civil litigation, possible adverse judgments, unrecoverable financial losses and victims of workplace crimes that do not get the justice they need."

Joe Pochron, Digital Forensics & Insider Threat Lead, Forensic & Integrity Services Ernst & Young LLP: "As you can see from Cellebrite's Industry Trends survey, remote collection is growing more and more important for eDiscovery professionals. The growing landscape of collaboration tools provides a deluge of information to investigate. Thankfully, Cellebrite Enterprise Solutions provides the tools necessary to zone in on the data needed for corporate examinations."

The report, which can be downloaded here, contains a wealth of data about the different ways corporate investigators and third–party service providers are using digital evidence. It contains actionable recommendations for organizations looking to enhance their remote collection capabilities and management of digital artefacts.

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.

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.

Media

Victor Cooper
Public Relations and Corporate Communications Director
+1 404 804 5910
victor.cooper@cellebrite.com

Investors

Investor Relations

investors@cellebrite.com


GLOBENEWSWIRE (Distribution ID 8734667)

Leading Singapore Law Enforcement Agency Awards Cellebrite with $14 Million Agreement for Cellebrite’s advanced extraction solution

PETAH TIKVA, Israel and TYSONS CORNER, Va., Jan. 23, 2023 (GLOBE NEWSWIRE) — Cellebrite (Nasdaq: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, today announced a five–year agreement with a national police agency in Singapore, which will use Cellebrite's collect & review solution, Premium, to help lawfully expedite collection of digital evidence.

The 5–year contract creates a strong partnership between the customer and Cellebrite, enabling us to be a closely integrated partner, both in the areas of knowledge and competencies development, and in the technology space associated with top–tiered digital investigations and intelligence.

This engagement is also notable due to Cellebrite equipping the agency with the most advanced extraction solution and direct and immediate access to Cellebrite's Advanced Services team

"We are thrilled to partner with this large law enforcement agency and progress our joint mission to enhance public safety and build safer communities,” said Arthur Veinstein, President, Cellebrite International. "This contract is a true testament to Cellebrite being an industry leader. I am confident that our DI solutions will help our customer in its digital transformation journey."

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 https://twitter.com/Cellebrite.

Media

Victor Cooper
Public Relations and Corporate Communications Director
+1 404 804 5910
Victor.cooper@cellebrite.com

Investors

Investor Relations
investors@cellebrite.com


GLOBENEWSWIRE (Distribution ID 8734108)

Cellebrite to Release Fourth Quarter and Fiscal Year 2022 Financial Results on February 15, 2023

PETAH TIKVAH, Israel and TYSONS CORNER, Va., Jan. 10, 2023 (GLOBE NEWSWIRE) — Cellebrite DI Ltd. (NASDAQ: CLBT) (the "Company"), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, today announced that it will report its fourth quarter and fiscal year 2022 financial results before market open on Wednesday, February 15, 2023.

On that day, management will host a conference call and webcast to discuss the Company's financial results at 8:30 a.m. ET.

Telephone participants are advised to register in advance at: https://register.vevent.com/register/BIa98ecd8f02c04567a1515497e1f850c8.

Upon registration, participants will receive a confirmation email detailing how to join the conference call, including the dial–in number and a unique registrant ID.

The live conference call will be webcast in listen–only mode at: https://edge.media–server.com/mmc/p/6j7zngzy.

The webcast will remain available after the call at: https://investors.cellebrite.com/events–presentations.

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. 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.

Investors
Investor Relations
investors@cellebrite.com

Media
Victor Cooper
Public Relations and Corporate Communications Director
+1 404 804 5910
Victor.cooper@cellebrite.com


GLOBENEWSWIRE (Distribution ID 8726640)

Zohar Tadmor-Eilat Joins Cellebrite as Chief People Officer

PETAH TIKVA, Israel and TYSONS CORNER, Va., Jan. 02, 2023 (GLOBE NEWSWIRE) — Cellebrite DI Ltd. (Nasdaq: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors ("Cellebrite" or "Company"), today announced that Zohar Tadmor–Eilat has been named Chief People Officer (CPO), effective February 1, 2023.

Zohar will report to Yossi Carmil, Chief Executive Officer of Cellebrite, and will be a member of the Company's executive management team. She succeeds Osnat Tirosh, who is leaving Cellebrite after ten years to pursue other career and professional growth opportunities.

As CPO, Zohar will be responsible for leading Cellebrite's human resources (HR) and people functions, including executive recruitment, talent management, organizational and leadership development. She brings over 20 years of experience as a senior HR leader and expertise in all HR and People & Culture domains.

Zohar Tadmor–Eilat said, "I am excited to join and support Cellebrite's innovative team and look forward to continuing to foster a culture that helps everyone at Cellebrite learn, grow and thrive, as the company delivers on its purpose–driven mission of creating a safer world. Our people are our most valuable asset, and I look forward to empowering our team to unlock their full potential."

Prior to joining Cellebrite, Zohar served as the Global Vice President of Human Resources at CyberArk, an identity security company. Earlier in her career, Zohar served as the Global Vice President of Human Resources at BitTech, a provider of bespoke technology solutions and services; the General Manager of HRISRAEL, a professional community for HR professionals; and as Vice President of Human Resources at Cal–Auto Group. Zohar received her B.A. from the Hebrew University of Jerusalem and earned an M.A. in Labor Studies – Organizational Consulting and Human Resources Management from Tel Aviv University.

"Maintaining an engaged, ethical and innovative culture is critical to Cellebrite's ability to attract and retain the best talent," said Yossi Carmil, Chief Executive Officer of Cellebrite. "I am pleased to welcome Zohar to Cellebrite and am confident that under her seasoned leadership, our People function will continue to provide our team with the support and tools they need to unlock their full potential. I also want to thank Osnat for her substantial contributions and commitment to Cellebrite over the past decade, as she helped to grow and scale our organization from a start–up to an industry–leading global corporation," Carmil concluded.

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
Public Relations and Corporate Communications Director
Victor.cooper@cellebrite.com
+1 404.804.5910

Investors
Investor Relations
investors@cellebrite.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e39b2e65–a59c–4206–be9f–ec33e6df7837


GLOBENEWSWIRE (Distribution ID 8721737)

Cellebrite Signs an Over $10 Million Deal with Major West European National Police Force; Marking One of the Largest Digital Intelligence Deals Ever and Further Validating Digital Intelligence as Essential Accelerator for Investigations

PETAH TIKVA, ISRAEL and TYSONS CORNER, Va., Dec. 12, 2022 (GLOBE NEWSWIRE) — Cellebrite DI Ltd. (Nasdaq: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, today announced that a European national police force extended its long–term partnership with Cellebrite, resulting in the future deployment of Cellebrite Pathfinder across multiple sites.

This significant agreement should enable the police force to deploy Cellebrite's industry–leading investigative analytics solution across its entire operations, further cementing Cellebrite Pathfinder as a premier investigative analytics solution. The expansion enhances the national police force's current suite of Cellebrite collect & review solutions, which is producing vast amounts of data. Moreover, Cellebrite's automated and secure DI solution enables investigators to collect, review and analyze data in an integrated workflow through optimized workflow streamlining.

Due to the volume of data retrieved, Cellebrite Pathfinder is aimed at providing investigators within this organization with state–of–the–art DI capabilities to accelerate investigations by streamlining the investigative process, automating data ingestion and using advanced artificial intelligence (AI) to analyze and visualize data from mobile, cloud and computer sources.

Cellebrite Pathfinder is aimed at aiding the police force by identifying patterns, revealing connections and uncovering leads with speed and accuracy.

According to the Cellebrite 2022 Industry Trends report, 74% of respondents agree or strongly agree that there is an IT or technological skills gap in policing. As part of the mission to close the public safety gap, Cellebrite will work with the European national police force to provide professional training and support to its investigative team.

Arthur Veinstein, Cellebrite President, International Business, commented: "We are honored to have a long–term customer choosing to continue modernizing its investigative efforts through increased adoption of Cellebrite's DI solutions. Implementing Pathfinder at the national level should enhance collaboration among the police force's examiners and investigators, resulting in more efficient, ethical and effective investigations that lead to convictions and exonerations."

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," "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.

Cellebrite Contacts

Media
Victor Cooper
Public Relations and Corporate Communications Director
Victor.cooper@cellebrite.com
+1 404.804.5910

Investors
Investor Relations
investors@cellebrite.com


GLOBENEWSWIRE (Distribution ID 8712276)

Vanderburgh Co. Cyber Crime Task Force and Cellebrite Combine Efforts to Resolve Crimes Quicker and Exonerate the Innocent

PETAH TIKVA, Israel, TYSONS CORNER, Va., and EVANSVILLE, Ind., Nov. 30, 2022 (GLOBE NEWSWIRE) — Cellebrite DI Ltd. (Nasdaq: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, today announced the results of its work with the Vanderburgh Co. Cyber Crime Task Force (VCCCTF) to accelerate justice with Cellebrite collect and review solutions.

At present, Director Jess Powers' VCCCTF team utilizes Cellebrite Premium, as well as other Cellebrite collect and review solutions.

Director Powers stated, "Prior to our digital transformation, it took months to retrieve data from devices. With Cellebrite, we expect to deliver actionable intelligence in just three days." Over time, Director Powers has built a unit that now services 29 agencies from 11 states.

Director Powers stated, "There's a reason people are after Cellebrite Premium [".] As soon as agencies find out that we have one just by word of mouth, they start coming to us."

Director Powers stated, "With the data that we're churning out from over a thousand devices [in 18 months], our average disposition time for felonies is about 137 days, compared to 255, which is the national average. Based on the statistics that we have, for the first year and half that we've been doing this, we've been able to churn out about a 73% successful prosecution rate."

Director Powers assembled a team of digital forensics experts including Criminal Investigator Gage Shots, Criminal Investigator Jon Carter, and Criminal Investigator Alexis Nunn.

In one case, a violent felon was sentenced to 15 years in federal prison for drug trafficking and gun crimes based on the data retrieved using the Cellebrite collect & review solutions.

Cellebrite's solutions also assist with the exoneration of the innocent. As Director Powers explained, "Within less than 12 hours, we were able to exonerate a crime suspect so that their name was never in the news with a charge, their mug shot didn't pop up, and they were never taken to jail."

When asked what inspires her to come to work each day, Director Powers responded, "Our team can exonerate the innocent, we can convict the guilty, and I never have to put a bulletproof vest on. That's it for me."

To view a video of Director Jess Powers and the Vanderburgh Co. Cyber Crime Task Force, 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 UFED.

Cellebrite Media
Victor Cooper
Public Relations and Corporate Communications Director
Victor.Cooper@cellebrite.com
+1 404.804.5910

Investors
Investor Relations
investors@cellebrite.com


GLOBENEWSWIRE (Distribution ID 8705549)

Cellebrite Endpoint Inspector Empowers Organizations with Remote Collection of Workplace Applications

PETAH TIKVA, Israel and TYSONS CORNER, Va., Nov. 16, 2022 (GLOBE NEWSWIRE) — Cellebrite DI Ltd. (Nasdaq: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, today announced the launch of the cloud workplace app collection, a new Cellebrite Endpoint Inspector capability aimed at improving organizations' investigation and eDiscovery capabilities by enabling them to collect remote mobile and computer data and cloud workplace application data in a unified platform.

The addition of the cloud workplace app collection to Cellebrite Endpoint Inspector should help reduce the time and cost associated with the collection of data from applications such as Office365, Google Workspace, Slack, and Box by allowing examiners to initiate multiple collections for custodians from the largest sources of employee work–related data. With our unified collection capability, and now adding cloud workplace app collection to Endpoint Inspector, customers will be able to have one tool for all their collection sources.

The cloud workplace app collection aims at enabling examiners to research and consolidate data, build a comprehensive picture, surface actionable insights, and uncover the truth. Additionally, the cloud workplace app collection uses smart collection capabilities to gather only necessary data from workplace applications while ensuring data security and privacy are protected at each step of the process.

Ken Basore, Enterprise Solutions General Manager at Cellebrite, said: "In today's world, it is imperative that organizations in every industry and of every size can access employee work–related data in a secure and efficient way. Cloud workplace app collection is transforming how organizations collect data associated with corporate investigations and the eDiscovery process. We are proud to be the only company that offers a unified platform for remote mobile and computer collection and now from the most widely used cloud workplace applications "" with our revolutionary capability, companies across the private sector can boost efficiencies while maintaining data security."

For more information about workplace cloud app collection and Cellebrite Endpoint Inspector, 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_UFED.

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," "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.

Cellebrite Contacts

Media
Victor Cooper
Public Relations and Corporate Communications Director
Victor.cooper@cellebrite.com
+1 404.804.5910

Investors
Investor Relations
investors@cellebrite.com


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