Cellebrite DI Ltd.
CLBT · Services-Prepackaged Software · EDGAR filings ↗
Reference price $13.10 — last insider sale, 2026-05-21 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
B76Digital-forensics / investigative-analytics SaaS — profitable with strong free cash flow and growth.
Strengths
- Profitable with strong FCF — operating margin 14% (83rd), net margin 16% (84th), FCF $160M (63rd), FCF margin 34%
- Elite gross margin, growth — gross margin 84% (90th), revenue +19%
Risks
- Government/customer-concentration risk — per 10-K
- Net-income volatility — net income growth -128%
- Competition — per 10-K
Notable findings
- Customer concentration~90% of revenue from one customer/distributor — Sales to public safety agencies, including law enforcement, defense and intelligence agencies, accounted for more than 90% of our revenue in 2023, 2024 and 2025
- Strong balance sheetStrong balance sheet — $374M cash & investments
- Insider sellingInsider selling — 5 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, last 6mo) Form 4 ↗
Key metrics
Gross margin
84.2%
Operating margin
14.0%
Net margin
16.5%
Return on equity
16.2%
Return on assets
8.3%
Revenue growth (QoQ)
18.6%
Current ratio
1.6×
Free cash flow
$160M
EBITDA
$78M
Tangible book value
$283M
Cash & investments
$374M
Stock comp / revenue
9.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-21 | GEE DAVID NICHOLAS | Sell | 2.2K | $13.10 |
| 2026-05-21 | GEE DAVID NICHOLAS | Sell | 3.4K | $13.15 |
| 2026-05-18 | Jewell Marcus | Sell | 13K | $12.77 |
| 2026-05-12 | GEE DAVID NICHOLAS | Sell | 228 | $13.01 |
| 2026-05-12 | Jewell Marcus | Sell | 383 | $13.01 |
| 2026-05-12 | Ramji Shiven | Grant | 424K | — |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-03 | 2025-12-31 | 0001628280-26-013790 ↗ |
| 20-F | 2025-03-18 | 2024-12-31 | 0001628280-25-013334 ↗ |
| 20-F | 2024-03-21 | 2023-12-31 | 0001854587-24-000018 ↗ |
| 20-F | 2023-04-27 | 2022-12-31 | 0001628280-23-013355 ↗ |
| 20-F | 2022-03-29 | 2021-12-31 | 0001854587-22-000004 ↗ |