Cellebrite Begins Its Next Chapter
Here's our initial take on Cellebrite DI's (NASDAQ: CLBT) financial report.
Cellebrite has enjoyed high demand for its digital investigative software, with both government entities and private-sector corporate clients adopting Cellebrite's platform extensively. Revenue for the second quarter was up 18% year over year, and annualized recurring revenue from the software-as-a-service platform climbed at a faster 21% rate. Earnings per share came in a penny better than expected as Cellebrite celebrated rising margins from its effectiveness in controlling costs and making the most of sales growth. A dollar-based net retention rate of 120% signaled that existing clients are making greater use of Cellebrite's services.
CEO Tom Hogan pointed to Cellebrite's plans to acquire virtualization technology specialist Corellium and its collaboration with the U.S. Department of Justice as important factors that could expand the scope of its business. The Corellium deal hasn't yet gotten final approval, though, so Cellebrite hasn't incorporated its potential impact into guidance.
Source Fool.com
