Cellebrite (CLBT) Q2 2026 earnings summary

Executive summary

• CEO transition: Shiven Ramji appointed as CEO, succeeding Tom Hogan, to accelerate product-centric growth and platform strategy.

• Q2 2026 ARR grew 21% to $508M, with strong growth across all regions and product lines, but missed guidance due to delayed large government deals and slower-than-expected expansion.

• Revenue rose 16% year-over-year to $131M, with subscription revenue at $119.5M–$120M (91% of total).

• New products (Genesis AI, Guardian Investigate, Advanced Unlocks, CFID for drone forensics) contributed significantly to ARR growth and saw strong early adoption.

• Expanded customer base to ~7,000 globally, with significant penetration in public and private sectors.

Financial highlights

• Q2 gross profit was $112M (86% margin), adjusted EBITDA $31.8M (24% margin); free cash flow for trailing 12 months was $144.2M (28% margin).

• Operating income reached $29.8M; non-GAAP net income was $29.7M ($0.11 per diluted share).

• Gross revenue retention remained strong at ~93%.

• Growth products (Manage, AI & Virtualize) grew ~85% and now represent ~14% of total ARR.

• Weighted average shares outstanding increased to 247.6M in Q2 2026, with dilution slowing.

Outlook and guidance

• Full-year 2026 ARR guidance lowered to $550M–$560M (14–16% growth), revenue to $555M–$561M (17–18% growth).

• Adjusted EBITDA target raised to $153M–$159M (~28% margin).

• Q3 2026 guidance: ARR $524M–$528M, revenue $145M–$148M, adjusted EBITDA $42M–$45M (29–30% margin).