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Sep 30, 2025
Cellebrite Q3 2025 Earnings Report
Cellebrite reported solid Q3 2025 results with revenue and adjusted EBITDA at the high end of expectations.
Key Takeaways
Cellebrite delivered strong Q3 performance, driven by growth in subscription revenue and expansion in its U.S. federal business. Net income reached $20.2 million and revenue totaled $126 million, reflecting robust demand across key segments.
Revenue rose to $126 million, led by 21% growth in subscription revenue.
Net income reached $20.2 million, with adjusted EPS of $0.14.
Annual Recurring Revenue climbed to $439.8 million.
U.S. federal business showed strong expansion and strategic momentum.
Revenue by Segment
Forward Guidance
Cellebrite expects Q4 2025 revenue of $123M–$128M and adjusted EBITDA of $35M–$38M, excluding Corellium contribution. Full-year revenue is guided at $470M–$475M.
Positive Outlook
- Subscription-based revenue continues to grow strongly.
- Robust U.S. state, local, and LATAM demand.
- Improving free cash flow margin outlook (~30%).
- Cloud authorization via DOJ sponsorship on track.
- Corellium acquisition expected to enhance portfolio.
Challenges Ahead
- Guidance excludes potential Corellium upside.
- ARR midpoint in Q3 missed high-end expectations.
- Gross margin slightly declined YoY.
- Lower free cash flow margin vs. prior year quarter.
- Macroeconomic uncertainty in government budgets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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