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Cellebrite DI Ltd. (Nasdaq: CLBT) is an Israeli digital intelligence company renowned for delivering comprehensive tools and solutions to federal, state, and local law enforcement, as well as enterprise companies and service providers. The company’s offerings assist in the collection, review, analysis, and management of digital data.
Core Business: Cellebrite's suite of products includes the UFED series for data extraction from mobile devices, Physical Analyzer for deep digital data analysis, UFED Cloud for cloud data retrieval, Frontliner, Responder, Premium, and Seeker, each designed to serve different aspects of digital investigations.
Recent Achievements and Projects: Recently, Cellebrite has partnered with Coalfire to enable U.S. federal customers to access Cellebrite's SaaS technology. This collaboration is part of Cellebrite's ongoing efforts to achieve FedRAMP authorization, ensuring the highest standards of security and data compliance for its SaaS solutions.
Financial Condition: For the first quarter of 2024, the company reported strong financial performance with expanded business globally and improved profitability. Cellebrite has reaffirmed its optimistic outlook for the remainder of the year, expecting to drive substantial revenue and adjusted EBITDA growth.
Partnerships: Collaborating with cybersecurity leader Coalfire, Cellebrite aims to strengthen its FedRAMP authorization process, reflecting a commitment to robust security standards.
Products and Solutions: Cellebrite’s SaaS-based solutions, like Guardian and Endpoint Inspector SaaS, offer scalable, secure data management and evidence sharing, enhancing operational efficiency and collaboration between investigators. These solutions ensure consent-based data collection, adhering to ethical and legal standards.
Significance: Cellebrite’s mission is to protect and save lives, accelerate justice, and preserve privacy. Their digital investigative solutions empower organizations to master the complexities of legally sanctioned investigations, transforming data collection and analysis processes. Trusted globally, their platform is instrumental in advancing digital investigations for both public and private sectors.
Cellebrite DI (Nasdaq: CLBT) has announced the 'Redemption Fair Market Value' for its previously announced warrant redemption. The company will redeem all outstanding warrants at $0.10 per warrant on September 16, 2024. Warrant holders can exercise their warrants for cash at $11.50 per Ordinary Share or on a 'cashless basis' before the redemption date. Based on the Redemption Fair Market Value of $16.72, holders exercising warrants on a cashless basis will receive 0.342 Ordinary Shares per Warrant.
The company has obtained a ruling from Israeli Tax Authorities exempting certain qualified holders from potential tax withholding upon share issuance. Unexercised warrants after the redemption date will be void. The last trading day for Public Warrants on Nasdaq will be September 13, 2024.
Cellebrite (NASDAQ: CLBT) announced its second-quarter 2024 financial results with revenue of $95.7 million, marking a 25% year-over-year increase due to a 27% growth in subscription revenue. The company reported an Annual Recurring Revenue (ARR) of $345.9 million, up 26% YoY, and an adjusted EBITDA of $21.6 million with a 22.6% margin.
GAAP net loss was $23.8 million, while non-GAAP net income was $22.9 million. The company also raised its 2024 outlook for revenue and adjusted EBITDA, forecasting full-year revenue between $390 million and $398 million and adjusted EBITDA between $90 million and $95 million.
Cellebrite expanded its operations by forming Cellebrite Federal Solutions and acquiring Cyber Technology Services, Inc. Additionally, it partnered with Relativity to enhance mobile device collection and processing solutions. The company also announced the redemption of 30 million outstanding warrants and the issuance of 5 million Price Adjustment Shares.
Cellebrite DI (Nasdaq: CLBT) has announced the redemption of all outstanding warrants to purchase ordinary shares at $0.10 per warrant, effective September 16, 2024. This includes public and private placement warrants. Warrantholders can choose to exercise their warrants for cash at $11.50 per share or surrender them on a 'cashless basis' before the redemption date. The company has obtained a ruling from Israeli Tax Authorities exempting certain qualified holders from potential tax withholding upon share issuance. Unexercised warrants after the redemption date will be void. The last trading day for public warrants on Nasdaq is expected to be September 13, 2024.
Cellebrite (NASDAQ: CLBT), a leader in digital investigative solutions, has appointed Troy K. Richardson to its Board of Directors. Richardson, a tech veteran with over 30 years of experience, brings significant operational and sales expertise from leading technology companies. He currently serves on the Unisys Board and previously held senior roles at PTC, DXC, Oracle, SAP, HP, Novell, and IBM. With Richardson's addition, Cellebrite's board now consists of 10 directors.
Thomas Hogan, Executive Chairman, expressed enthusiasm about Richardson's appointment, highlighting his deep knowledge of the software industry and broad leadership experience. Richardson stated his excitement to join Cellebrite, praising the company's leadership position in digital investigation and intelligence gathering, as well as its culture of innovation and social responsibility.
Cellebrite (NASDAQ: CLBT), a global leader in Digital Investigative solutions, has appointed Sigalit Shavit as its first-ever Chief Information Officer (CIO), effective August 1, 2024. With over 30 years of experience, Shavit joins Cellebrite's Leadership Team, reporting directly to CEO Yossi Carmil. Her role will be important in scaling the company's innovation and customer support capabilities.
Shavit's appointment comes at a time when Cellebrite's technical innovation is vital in combating sophisticated criminals and managing growing digital evidence. She will focus on supporting business needs, addressing cyber threats, leveraging AI, and accelerating innovation. Recognized as one of the Top 25 Women Leaders in Cybersecurity, Shavit brings valuable experience from her previous roles at FedEx Express, ECI Telecom, CyberArk, and KTrust.
Relativity and Cellebrite (Nasdaq: CLBT) have announced a strategic partnership to develop innovative solutions for mobile device collection, processing, and review in the legal technology sector. The collaboration includes:
1. A RelativityOne and Cellebrite Remote Mobile Collection and Conversion integration.
2. Cellebrite becoming the only mobile collection provider natively integrated into RelativityOne Collect.
3. Automatic conversion of Cellebrite's UFD file format to Relativity Short Message Format (RSMF) upon collection.
An Advanced Access program for the integration will launch in the U.S. this month, with general availability expected in fall 2024. This partnership aims to improve efficiency, accessibility, and usability of mobile evidence in legal data use cases.
Cellebrite (NASDAQ: CLBT) has launched Cellebrite Federal Solutions to enhance its strategic relationship with the U.S. federal government. This move includes the acquisition of Cyber Technology Services, Inc. (CyTech), expanding Cellebrite's capabilities in cybersecurity and digital forensics. The new unit, led by Erik Sachwitz, aims to address the evolving needs of U.S. federal customers and unlock more opportunities.
Key highlights:
- Acquisition of CyTech to broaden Cellebrite's expertise
- Establishment of a dedicated unit for federal sector
- Appointment of four renowned independent directors
- Focus on AI-driven Case-to-Closure platform
- U.S. federal customers generated 19% of Cellebrite's annual recurring revenue in the public sector in 2023, up 21% from the previous year
Cellebrite (NASDAQ: CLBT), a leader in Digital Investigative solutions, will report its Q2 2024 financial results on August 15, 2024, before market open. A live conference call and webcast will follow at 8:30 a.m. ET to review the results and discuss the company's outlook for 2024. Investors can access the call via a designated call-in number or through a live webcast. Historical financial data and supplemental information will be available on Cellebrite's investor relations website. A replay and transcript of the call will also be accessible later.
Cellebrite, a leader in digital investigative solutions, announced the availability of its Endpoint Inspector SaaS on the AWS Marketplace. This solution, part of Cellebrite's Case-to-Closure platform, allows corporate investigators and eDiscovery practitioners to collect and analyze data in real-time from various remote devices. Utilizing AWS cloud infrastructure, Endpoint Inspector SaaS enhances data extraction speed and insight depth for corporate investigations, such as fraud and intellectual property theft. It supports hybrid work environments, enabling secure, consent-based data collection without the need for physical device access. AWS Marketplace facilitates easy deployment, automated billing, and payment tracking.
Leopard Asset Management (LAM) is calling on Sun shareholders to hold the company's management accountable for failing to increase shareholder value. LAM has highlighted Sun's undervaluation, primarily due to its significant holdings in Cellebrite (NASDAQ: CLBT), and other liquid assets.
Since LAM's campaign in March 2024, Sun's share price briefly increased by 23% but fell by 19% after a disappointing AGM agenda was released, indicating a lack of trust in management.
LAM urges shareholders to vote against CEO Ryusuke Utsumi and his team in the upcoming June 25 AGM, citing management's failure to take meaningful action to close the valuation gap.
Sun's shares are valued at ¥7,200 based on liquid assets, far above the current market price of ¥3,300, emphasizing the need for a change in leadership to realize the company's true value.
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