Cellebrite initiates a new phase in its journey
Cellebrite DI, a leading digital intelligence solutions provider, reported its Q2 2024 financial results, showcasing a total revenue of $95.7 million. This figure represents a significant increase compared to the same quarter last year. The company's adjusted earnings per share for Q2 2024 were $0.10.
The quarter also saw Cellebrite DI's annualized recurring revenue reach $345.9 million. The dollar-based net retention rate for Q2 2024 stood at 120%, indicating a strong customer retention.
Looking ahead, Cellebrite's guidance for Q3 2025 shows a 13% to 18% increase in revenue compared to the year-ago period. The company's annualized recurring revenue for Q3 2025 is expected to be between $435 million and $445 million. The total revenue for Q2 2025 is expected to be $113.3 million, with a free cash flow of $29.0 million.
Cellebrite's stock, which had seen a decline since its peak in late 2024, showed signs of a rebound after the release of these financial results. The stock moved higher by almost 5% in premarket trading.
In a strategic move, Cellebrite announced the acquisition of Corellium on June 5, 2025, for approximately $200 million. Pending approval from the Committee on Foreign Investment in the United States (CFIUS), this deal is expected to finalize in the summer of 2025.
Corellium is known for its hypervisor-based virtualization platform, which will allow Cellebrite to provide secure virtual environments for analyzing Arm-based devices and IoT systems. This acquisition expands Cellebrite’s product portfolio by adding technologies that support vulnerability research, malware analysis, secure application development, and DevSecOps.
The move aligns with increasing market needs as digital and IoT device forensics grow towards a projected $100 billion industry by 2030. Corellium's co-founder has taken on the role of Cellebrite’s CTO, facilitating seamless integration of Corellium’s technologies.
Cellebrite's CEO, Tom Hogan, has been named permanent CEO. For more detailed information, visit the investor relations page or refer to the full earnings report. The acquisition of Corellium positions Cellebrite to broaden its digital intelligence platform, improve mobile device and IoT security testing, and enhance workflow automation, contributing to sustained growth and diversification of product offerings beyond traditional digital evidence extraction.
- Investing in Cellebrite DI stocks could be a promising move for those interested in the finance sector, as its stock showed signs of rebounding after the release of its Q2 2024 financial results.
- As Cellebrite DI expands its product portfolio with the acquisition of Corellium, which specializes in technology for virtualizing Arm-based devices and IoT systems, the company is poised to enhance its digital intelligence platform, improve mobile device and IoT security testing, and expand into the growing market of digital and IoT device forensics.
- The technology industry will play a significant role in Cellebrite DI's future growth, as the acquisition of Corellium will contribute to workflow automation and diversification of product offerings, moving beyond traditional digital evidence extraction.
