Cellebrite Begins Its Next Chapter

Thu, Aug 14, 2025, 7:30 AM 4 min read

• Cellebrite continued to see solid growth in the second quarter of 2025, led by a big jump in free cash flow.

• The company named interim CEO Tom Hogan to take on the role permanently and also announced a new chief financial officer.

• Cellebrite is cautiously optimistic about recent acquisition activity and the prospect for further business.

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Here's our initial take on Cellebrite DI's (NASDAQ: CLBT) financial report.

Cellebrite has enjoyed high demand for its digital investigative software, with both government entities and private-sector corporate clients adopting Cellebrite's platform extensively. Revenue for the second quarter was up 18% year over year, and annualized recurring revenue from the software-as-a-service platform climbed at a faster 21% rate. Earnings per share came in a penny better than expected as Cellebrite celebrated rising margins from its effectiveness in controlling costs and making the most of sales growth. A dollar-based net retention rate of 120% signaled that existing clients are making greater use of Cellebrite's services.

CEO Tom Hogan pointed to Cellebrite's plans to acquire virtualization technology specialist Corellium and its collaboration with the U.S. Department of Justice as important factors that could expand the scope of its business. The Corellium deal hasn't yet gotten final approval, though, so Cellebrite hasn't incorporated its potential impact into guidance.

As for Hogan, the once-interim CEO has formally been named to fill the role permanently. Cellebrite's board chair had kind words to say about Hogan's experience and leadership. Joining Hogan will be David Barter, who will take over the CFO role from the retiring Dana Gerner.

Investors were generally pleased with Cellebrite's news. The stock moved higher by almost 5% in premarket trading during the first 45 minutes after the release of its financial report. Both sales and earnings were higher than most of those following Cellebrite had anticipated, which was likely the biggest contributor to the upward move.

Even so, it's important to put the modest move into context. Cellebrite's stock soared during late 2024 and into the beginning of 2025, but since their February peak, the shares had lost roughly half their value at their worst levels. Signs of a rebound are encouraging, though, and Cellebrite hopes that future results will validate investors' confidence.