Revenue growth has normalized to 19.3% in 2026Q1, while the company maintains structural resilience with gross margins consistently hovering around 84%.
| Sales/Revenue | 496.43M | 475.68M | 401.2M | 325.11M | 270.65M | 246.25M | 194.91M | 171.85M |
| Revenue Growth % | 18.43% | 18.56% | 23.41% | 20.12% | 9.91% | 26.34% | 13.42% | - |
| Cost of Goods Sold | 80.1M | 75.17M | 62.59M | 53.23M | 50.75M | 42.56M | 37.88M | 35.82M |
| COGS % of Revenue | - | 15.8% | 15.6% | 16.37% | 18.75% | 17.28% | 19.43% | 20.84% |
| Gross Profit | 416.32M | 400.5M | 338.61M | 271.88M | 219.91M | 203.69M | 157.03M | 136.03M |
| Gross Margin % | 83.86% | 84.2% | 84.4% | 83.63% | 81.25% | 82.72% | 80.57% | 79.16% |
| Gross Profit Growth % | - | 18.28% | 24.54% | 23.63% | 7.96% | 29.71% | 15.44% | - |
| Operating Expenses | 352.99M | 334.02M | 281.7M | 238.64M | 218.86M | 189.87M | 147.82M | 137.55M |
| OpEx % of Revenue | - | 70.22% | 70.21% | 73.4% | 80.86% | 77.1% | 75.84% | 80.04% |
| Selling, General & Admin | 230.52M | 220.15M | 183.29M | 154.26M | 138.24M | 124.33M | 91.17M | 90.23M |
| SG&A % of Revenue | - | 46.28% | 45.68% | 47.45% | 51.08% | 50.49% | 46.77% | 52.5% |
| Research & Development | 122.47M | 113.88M | 98.42M | 84.39M | 80.62M | 65.54M | 54.38M | 46.57M |
| R&D % of Revenue | - | 23.94% | 24.53% | 25.96% | 29.79% | 26.62% | 27.9% | 27.1% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 2.27M | 750K |
| Operating Income | 63.33M | 66.48M | 56.91M | 33.24M | 1.04M | 13.82M | 9.22M | -1.52M |
| Operating Margin % | 12.76% | 13.98% | 14.18% | 10.22% | 0.39% | 5.61% | 4.73% | -0.88% |
| Operating Income Growth % | - | 16.82% | 71.21% | 3083.62% | -92.45% | 49.95% | 706.45% | - |
| EBITDA | 79.57M | 78.35M | 67.51M | 43.25M | 10.24M | 20.83M | 15.1M | 2.56M |
| EBITDA Margin % | 16.03% | 16.47% | 16.83% | 13.3% | 3.78% | 8.46% | 7.75% | 1.49% |
| EBITDA Growth % | 12.89% | 16.05% | 56.11% | 322.43% | -50.85% | 37.97% | 489.96% | - |
| D&A (Non-Cash Add-back) | 16.24M | 11.87M | 10.61M | 10.01M | 9.19M | 7.01M | 5.88M | 4.08M |
| EBIT | 101.57M | 91.2M | -275.95M | -75.42M | 120.91M | 82.46M | 11.4M | 1.54M |
| Net Interest Income | 21.65M | 24.2M | -331.54M | 8.89M | 1.88M | 694K | 1.4M | 3.12M |
| Interest Income | 21.65M | 24.2M | 18.22M | 8.89M | 2.02M | 847K | 2.82M | 3.48M |
| Interest Expense | 0 | 0 | 349.76M | 0 | 149K | 153K | 1.42M | 352K |
| Other Income/Expense | 21.65M | 24.2M | -332.89M | -108.8M | 119.72M | 68.48M | 2.18M | 2.94M |
| Pretax Income | 84.98M | 90.68M | -275.98M | -75.56M | 120.76M | 82.31M | 11.4M | 1.42M |
| Pretax Margin % | 17.12% | 19.06% | -68.79% | -23.24% | 44.62% | 33.42% | 5.85% | 0.82% |
| Income Tax | 13.12M | 12.35M | 7.02M | 5.54M | -45K | 10.91M | 5.62M | 3.29M |
| Effective Tax Rate % | 15.44% | 13.62% | -2.54% | -7.33% | -0.04% | 13.25% | 49.28% | 232.58% |
| Net Income | 71.86M | 78.33M | -283.01M | -81.1M | 120.81M | 71.4M | 5.78M | -1.88M |
| Net Margin % | 14.48% | 16.47% | -70.54% | -24.95% | 44.64% | 28.99% | 2.97% | -1.09% |
| Net Income Growth % | 137% | 127.68% | -248.96% | -167.13% | 69.2% | 1135.01% | 408.16% | - |
| Net Income (Continuing) | 71.86M | 78.33M | -283.01M | -81.1M | 120.81M | 71.4M | 5.78M | -1.88M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.29 | 0.31 | -1.35 | -0.43 | 0.59 | 0.44 | -0.05 | -0.05 |
| EPS Growth % | 129.82% | 122.96% | -213.95% | -172.88% | 34.09% | 981.76% | 6.9% | - |
| EPS (Basic) | - | 0.32 | -1.35 | -0.43 | 0.64 | 0.50 | -0.05 | -0.05 |
| Diluted Shares Outstanding | 252.08M | 249.9M | 209.47M | 190.15M | 195.39M | 161.54M | 187.17M | 187.17M |
| Basic Shares Outstanding | 246.47M | 252.67M | 209.47M | 190.15M | 182.69M | 144M | 187.17M | 187.17M |
| Dividend Payout Ratio | - | - | - | - | - | 140.06% | 172.98% | - |
Geopolitical and regulatory exposure
According to reported financial data, Cellebrite's year-over-year revenue growth has decelerated from a peak of 26.9% in 2024Q3 to 19.3% in 2026Q1, suggesting that the initial tailwinds from the transition to a subscription-based model may be moderating as the installed base reaches higher maturity levels.
The deceleration in top-line expansion warrants monitoring, as it may indicate a saturation point within the core law enforcement customer base. While the shift to recurring revenue provides visibility, the company must demonstrate an ability to expand into adjacent enterprise markets to sustain historical growth rates.
As evidenced by the income statement, Cellebrite maintains a robust gross margin profile, consistently hovering around 84% over the last ten quarters, which reflects the company's successful pivot toward high-margin software-as-a-service delivery models and away from lower-margin, legacy hardware-centric forensic extraction device sales.
This margin stability suggests significant pricing power and a competitive moat derived from proprietary decryption protocols. Investors should note that maintaining these levels is contingent upon the company's ability to continuously innovate against evolving mobile security patches that threaten to increase the cost of exploit development.
Based on the provided quarterly figures, operating margins have fluctuated between 7.1% and 18.2%, indicating that Cellebrite has yet to achieve consistent operating leverage as rising R&D and SG&A expenses continue to absorb a significant portion of the incremental gross profit generated by the business.
The persistent investment in R&D is necessary to maintain technological relevance, but it creates a drag on bottom-line scalability. Future margin expansion appears dependent on the company's ability to achieve greater efficiency in its sales and marketing spend as the platform matures.
Financial statements reveal significant volatility in net income, with historical periods showing substantial losses followed by recent profitability, a trend that appears heavily influenced by non-operating items and the periodic impact of stock-based compensation expenses which have reached as high as $15.3 million in a single quarter.
The discrepancy between operating income and net income suggests that investors should focus on normalized earnings metrics rather than headline GAAP figures. The reliance on stock-based compensation as a primary tool for talent retention in the competitive cybersecurity space may continue to dilute shareholder value over time.
Quick answers to the most common questions about buying CLBT stock.
For fiscal year 2025, Cellebrite DI Ltd. (CLBT) reported total revenue of $475.7M. This represents a 176.8% increase compared to $171.9M in 2019.
Cellebrite DI Ltd. (CLBT) is profitable, generating $78.3M in net income for the fiscal year ending 2025 with a net profit margin of 16.5%.
Cellebrite DI Ltd. (CLBT) reported an operating income of $66.5M, resulting in an operating profit margin of 14.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Cellebrite DI Ltd. (CLBT) generated $400.5M in gross profit for the year, representing a gross profit margin of 84.2%. This demonstrates the company's core pricing power and production efficiency.