Cellebrite DI Ltd.
- Open
- 11.84
- Day high
- 11.98
- Day low
- 11.64
- Prev close
- 11.62
- Volume
- 178K
- Mkt cap
- $3.0B
- P/E (TTM)
- 50.8
- EPS (TTM)
- $0.24
- P/B
- 5.6
- P/S
- 5.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$5.0M over the last 3 months (0 open-market buys, 9 sales)
- 🏛Institutions accumulating (13F)
Cellebrite DI Ltd. (CLBT) is a Technology company listed on NASDAQ. The stock is down 31% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 9 sales (SEC Form 4). Drillr has 3 published research articles covering CLBT.
Cellebrite DI Ltd. (CLBT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CLBT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 14, 2026 | $0.06 | $0.03 | -56.7% | $131M | -0.3% |
| May 14, 2026 | $0.08 | $0.04 | -44.5% | $128M | +1.0% |
| Feb 11, 2026 | $0.14 | $0.14 | +0.0% | $129M | +1.4% |
| Nov 12, 2025 | $0.09 | $0.14 | +48.2% | $126M | +2.5% |
| Aug 14, 2025 | $0.10 | $0.12 | +20.0% | $113M | +1.0% |
| Feb 13, 2025 | $0.10 | $0.10 | +0.0% | $109M | -0.3% |
| Aug 15, 2024 | $0.08 | $0.10 | +25.0% | $96M | +4.4% |
| May 23, 2024 | $0.06 | $0.08 | +45.5% | $90M | +5.0% |
| Feb 15, 2024 | $0.06 | $0.11 | +83.3% | $93M | +1.1% |
| Nov 14, 2023 | $0.04 | $0.09 | +118.9% | $84M | -1.6% |
| Feb 15, 2023 | $0.06 | $0.08 | +33.3% | $74M | -0.7% |
| Nov 17, 2022 | $0.02 | $0.01 | -55.6% | $72M | -0.6% |
CLBT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 27, 2026 | Hogan Thomas E.other: Advisor | Sell | 25,299 | $11.29 |
| Aug 25, 2026 | GEE DAVID NICHOLASofficer: Chief Marketing Officer | Sell | 4,323 | $11.36 |
| Aug 24, 2026 | Jewell Marcusofficer: Global Chief Revenue Officer | Sell | 12,562 | $11.24 |
| Aug 24, 2026 | GEE DAVID NICHOLASofficer: Chief Marketing Officer | Sell | 2,198 | $11.24 |
| Aug 13, 2026 | Hogan Thomas E.director, officer: Chief Executive Officer | Grant | 339,484 | — |
| Aug 13, 2026 | Hogan Thomas E.director, officer: Chief Executive Officer | Sell | 139,713 | $15.39 |
| Aug 13, 2026 | Jewell Marcusofficer: Global Chief Revenue Officer | Sell | 411 | $16.07 |
| Aug 13, 2026 | GEE DAVID NICHOLASofficer: Chief Marketing Officer | Sell | 230 | $16.07 |
| Jul 9, 2026 | Barter Davidofficer: Chief Financial Officer | Sell | 41,734 | $16.38 |
| Jul 7, 2026 | Hogan Thomas E.director, officer: Chief Executive Officer | Sell | 103,188 | $15.76 |
| May 26, 2026 | GEE DAVID NICHOLASofficer: Chief Marketing Officer | Sell | 2,243 | $13.10 |
| May 26, 2026 | GEE DAVID NICHOLASofficer: Chief Marketing Officer | Sell | 3,430 | $13.15 |
| May 19, 2026 | Jewell Marcusofficer: Global Chief Revenue Officer | Sell | 12,658 | $12.77 |
| May 14, 2026 | GEE DAVID NICHOLASofficer: Chief Marketing Officer | Sell | 228 | $13.01 |
| May 14, 2026 | Ramji Shivenofficer: President Products & Tech | Grant | 423,550 | — |
Source: CLBT SEC Form 4 filings, latest Aug 27, 2026. For informational purposes only — not investment advice.
See the full CLBT insider & 13F page →CLBT research & analysis
[CLBT] Cellebrite Compounds Software Franchise Through Digital Intelligence And Subscription Adoption
Cellebrite DI Ltd. is a Petah-Tikva, Israel-headquartered digital intelligence software company that delivers the digital-intelligence software platform supporting the digital-forensic analysis, mobile-device data extraction, cloud and related digital-evidence analysis, and related investigative workflows. The platform serves the law-enforcement, public-safety, and enterprise investigative customers across the geographies, with product capabilities including the digital-forensic and mobile-device data extraction, cloud and computer evidence analysis, case-management and analytics, investigative workflows, and related digital-intelligence functions, delivered as software-as-a-service and related subscription software. The revenue and the economics depend on the customer base, the subscription and recurring revenue, the seat and product expansion, the go-to-market spending, the competitive environment, the regulatory and reputational environment, and the operating efficiency. On selected various aggregate disclosure, the fiscal 2025 financial profile reflects total revenue derived from the digital-intelligence software operations, an operating profile reflecting a subscription-software company, and a balance-sheet position consistent with an established software company. The digital intelligence software core franchise anchors revenue, supported by the platform subscriptions producing the revenue from the law-enforcement, public-safety, and enterprise investigative customers, by the digital-intelligence capability across the digital-forensic, mobile-device data extraction, and cloud and computer evidence analysis supporting the differentiated positioning, and by the customer base of the law-enforcement, public-safety, and enterprise investigative customers providing the operating base. The multi-cycle digital-intelligence subscription and investigative adoption drives the multi-year trajectory, with the subscription adoption reflecting the shift toward the subscription model and related recurring-revenue conversion, and the investigative adoption reflecting the secular demand for the digital-intelligence and investigative-workflow software supported by the digital evidence in the investigative work. Capital structure reflects the financing of an established software company, and a capital allocation framework focused on the platform, the operations, and the balance-sheet management. The bull case anchors on the digital-intelligence platform franchise, the law-enforcement and public-safety customer base, and the subscription-revenue trajectory; the bear case anchors on the competitive intensity, the regulatory and reputational dynamics, and the customer-acquisition execution.
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Cellebrite DI Ltd. company profile
Overview
Cellebrite DI Ltd. (NASDAQ:CLBT) is an Israeli technology company founded in 1999 that specializes in digital intelligence solutions for legally sanctioned investigations. Originally established in Petah Tikva, Israel, the company went public in November 2020 and has grown to become a leading provider of digital forensics and investigative analytics tools. Cellebrite serves law enforcement agencies, government organizations, and enterprise customers across more than 10 countries, helping them extract, analyze, and manage digital evidence from mobile devices, computers, and other digital sources in criminal investigations, corporate security cases, and civil litigation matters.
Business
Cellebrite operates in the digital intelligence and forensics software industry, providing technology solutions that help investigators legally access, extract, and analyze digital evidence from electronic devices. The company's core business revolves around what it calls the Case-to-Closure (C2C) platform, which encompasses the entire investigative lifecycle from evidence collection to case resolution. The company's primary offerings include several key product families: 1. Universal Forensic Extraction Device (UFED) solutions represent the company's flagship hardware and software combination that addresses the complex challenge of accessing locked, encrypted, or damaged mobile devices and computers. These tools can bypass device security measures, recover deleted data, and extract information that might otherwise be inaccessible to investigators. This segment has historically been the company's largest revenue driver. 2. Inseyets is the company's next-generation digital forensic software platform that represents a significant technological advancement over legacy systems. This cloud-enabled solution offers enhanced automation, artificial intelligence capabilities, and improved user experience. The company is actively migrating its customer base to this platform, which commands approximately 20-25% higher pricing than legacy solutions. 3. Guardian and Pathfinder solutions focus on case management and investigative analytics respectively. Guardian provides evidence management and case workflow capabilities, while Pathfinder offers advanced analytics for investigating complex cases. These products have shown strong growth, with combined annual recurring revenue growth approaching 50%. 4. Specialized investigation tools include Seeker for video analysis, OSINT Analyze for open-source intelligence gathering from surface web, deep web, and dark web sources, and Crypto Tracer for blockchain transaction analysis and cryptocurrency investigations. The company generates revenue primarily through a subscription-based model, with approximately 87-89% of total revenue coming from recurring subscriptions. The remaining revenue comes from professional services, training, and one-time hardware sales. Geographically, the Americas account for approximately 54% of annual recurring revenue, EMEA represents 34%, and Asia-Pacific contributes 12%.
Revenue model
Cellebrite operates primarily on a subscription-based software-as-a-service (SaaS) model, generating the majority of its revenue through recurring annual contracts with customers. The company's paying customers are predominantly law enforcement agencies at federal, state, and local levels, government intelligence organizations, and enterprise customers dealing with corporate security, intellectual property theft, and compliance investigations. The company's revenue streams include: 1. Subscription licenses (87-89% of revenue): Customers pay annual recurring fees for access to software platforms, regular updates, and ongoing support. The company has demonstrated strong pricing power, particularly with its newer Inseyets platform, which commands 20-25% higher prices than legacy solutions. 2. Professional services and training (remaining 11-13%): Implementation services, specialized training programs, and consulting for complex investigations. 3. Hardware sales: While transitioning to cloud-based solutions, the company still generates some revenue from specialized extraction hardware, though this represents a declining portion of the business. Several factors influence Cellebrite's profitability and margins: Positive margin drivers include the company's strong market position in a specialized niche with high switching costs, the recurring nature of subscription revenue providing predictable cash flows, and the ability to achieve economies of scale as the software platform serves more customers without proportional increases in costs. The migration to cloud-based solutions also reduces hardware costs and improves gross margins, which currently run in the 84-86% range. Potential margin pressures could arise from increased competition in digital forensics, the need for continuous investment in research and development to stay ahead of evolving device security measures, regulatory changes affecting law enforcement spending, and the costs associated with maintaining compliance certifications like FedRAMP for government customers. Additionally, as the company expands into new geographic markets and customer segments, it may face pricing pressures or need to invest more heavily in sales and marketing. The company has demonstrated strong unit economics with a net retention rate consistently above 120% and gross retention rates around 92%, indicating both customer satisfaction and successful upselling of additional services to existing customers.
Competitive moat
Cellebrite possesses a moderately strong competitive moat built on several key advantages, though the sustainability of this moat faces ongoing challenges from technological evolution and potential competition. The company's primary moat stems from its specialized expertise and technological leadership in mobile device forensics. Cellebrite has spent over two decades developing proprietary techniques to bypass security measures on thousands of different device models and operating system versions. This expertise creates significant barriers to entry, as competitors would need to invest heavily in research and development while building relationships with device manufacturers and understanding constantly evolving security protocols. High switching costs represent another important moat component. Law enforcement agencies and enterprises invest considerable time and resources training personnel on Cellebrite's tools, integrating the software into their investigative workflows, and building case management processes around the platform. The mission-critical nature of criminal investigations makes customers reluctant to switch vendors, particularly given the potential disruption to ongoing cases and the need to retrain staff. The company also benefits from network effects and regulatory advantages. As more agencies adopt Cellebrite's solutions, the platform becomes more valuable through shared intelligence about new device types and security vulnerabilities. Additionally, Cellebrite's pursuit of certifications like FedRAMP creates regulatory moats that competitors must also navigate to serve government customers. However, several factors could potentially erode this moat over time. Technology giants like Apple and Google continuously strengthen device security, requiring Cellebrite to invest heavily just to maintain current capabilities. The rise of cloud-based evidence storage and artificial intelligence could enable new competitors with different technological approaches to enter the market. Additionally, privacy advocacy and regulatory changes could limit the scope of digital forensics tools, potentially reducing the addressable market. The company's moat appears sustainable in the medium term given the specialized nature of the market and high customer switching costs, but maintaining technological leadership will require continued substantial investment in research and development.
Risks & safety
Cellebrite demonstrates a strong financial position with solid margin of safety, though valuation metrics suggest the stock may be priced for significant growth expectations. Liquidity and Solvency: • Cash and short-term investments: $191.7 million as of Q4 2024 • Current ratio: 1.92, indicating solid short-term liquidity • Debt-to-equity ratio: 0.033, representing minimal debt burden • Free cash flow: $121.6 million for full year 2024, demonstrating strong cash generation • No significant solvency concerns given strong balance sheet and recurring revenue model Valuation Metrics: • Price-to-earnings ratio: 66.7x (based on Q4 2024 earnings) • EV/EBITDA: 65.7x for full year 2024 • Price-to-book ratio: 13.7x • These metrics suggest high growth expectations are built into current valuation Other Considerations: • Strong recurring revenue base (87-89% of total revenue) provides predictable cash flows • Annual recurring revenue growing at 25% year-over-year • Rule of X performance (revenue growth + EBITDA margin) consistently above 45% • Gross margins of 84-86% indicate strong pricing power • However, high valuation multiples leave little room for execution missteps or growth disappointments
Recent development
Over the past few years, Cellebrite has undergone significant strategic transformation focused on cloud migration, artificial intelligence integration, and market expansion. The company's most significant initiative has been the development and rollout of Inseyets, its next-generation digital forensic platform that represents a fundamental shift from legacy on-premise solutions to cloud-enabled, AI-powered investigative tools. The Inseyets platform migration has become a central growth driver, with the company successfully upgrading approximately 15% of its installed base in 2024 and targeting over 50% migration by 2025. This transition has enabled the company to command 20-25% higher pricing while providing customers with enhanced automation, faster processing capabilities, and improved user experience. Federal market expansion represents another key strategic focus, with the establishment of Cellebrite Federal Solutions and the acquisition of CyTech to enhance government market capabilities. The company is pursuing FedRAMP authorization, which management believes could potentially double the total addressable market in the federal sector when completed in 2025. The company has also invested heavily in artificial intelligence and machine learning capabilities, introducing GenAI features for its Guardian case management solution and developing AI-powered tools for media analysis, text analytics, and cryptocurrency investigation. These capabilities are designed to help investigators process cases more efficiently and reduce the emotional toll of reviewing disturbing content. Leadership transition has been a notable recent development, with CEO Yossi Carmil stepping down at the end of 2024 and Tom Hogan serving as interim CEO while the company conducts a search for permanent leadership. The company is specifically seeking a leader with expertise in SaaS, cloud computing, and artificial intelligence to guide the next phase of growth. Additionally, Cellebrite has expanded its Case-to-Closure platform through strategic partnerships, including collaboration with Relativity for enhanced eDiscovery solutions targeting the private sector market, and continued development of its Guardian and Pathfinder solutions, which have shown combined ARR growth approaching 50%.
CLBT company profile · for informational purposes only — not investment advice.
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