Cellebrite announce financial results for the three months ended June 30th 2021

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Cellebrite, the global leader in Digital Intelligence ("DI") solutions for the public and private sectors, today announced financial results for the three months ended June 30, 2021.

"Cellebrite continued to perform strongly in the second quarter of 2021, with revenue growth and profitability exceeding our expectations once again," said Yossi Carmil, Cellebrite's CEO. "These results reflect successful execution of our go-to-market strategy, and strong and sustained customer demand for our Digital Intelligence solutions designed to help them transform and accelerate the investigative workflow while protecting lives and preserving privacy. We are seeing a healthy market environment, which reflects an inflection point, with law enforcement agencies increasingly realizing that digital transformation is a necessity given the rapid growth in digital data volumes, complexity and importance. We continue to expect our merger with TWC Tech Holdings II Corp. will be completed in the third quarter of the year, and we look forward to continuing our journey as a public company."

Second Quarter Financial and Business Highlights

• Annual Recurring Revenue (ARR) of $159 million, up 46% year-over-year
• ARR dollar-based net retention rate of 142%
• Revenue of $59.2 million, up 29% year-over-year
• Subscription revenue of $41.4 million, up 33% year-over-year
• Gross profit and gross margin of $49.1 million and 83%, respectively
• Net income of $7.8 million; Adjusted EBITDA and Adjusted EBITDA margin of $13.4 million and 23%, respectively
• Established a strategic partnership with Singapore's Home Team Science and Technology Agency (HTX), an arm of the Ministry of Home Affairs, to drive innovation and deliver industry leading digital intelligence capabilities
• Launched the latest version of Cellebrite Pathfinder, its flagship investigative analytics solution achieving significant milestones in data analysis, enterprise readiness, scalability, and process performance

In addition, Cellebrite recently announced important milestones aimed at broadening its Digital Intelligence platform:

• Introduced Premium Enterprise, a next generation solution which is part of Cellebrite's end-to-end Digital Intelligence Investigative Platform offering and is deployed in an agency's secured domain via server and connects to their existing UFED devices.
• Expanded its service offerings to help customers unlock the full potential of Digital Intelligence solutions, and to ensure customer success at every stage of the digital transformation journey. Among the new offerings are an advisory practice, on-site advanced collection service, and managed services.