Cellebrite Q2 Net Profit Plunges, Appoints Shiven Ramji As CEO; Stock Down Over 28% In Pre-Market

(RTTNews) - Cellebrite DI Ltd. (CLBT), a digital forensics company, on Thursday reported a steep decline in net income for the second quarter of fiscal 2026, reflecting higher expenses. However, Cellebrite recorded an increase in revenue, helped by the contribution from the subscription service business. In addition, the company has revised down its annual revenue guidance.

For the three-month period to June 30, Cellebrite posted net income of $6.371 million, or $0.02 per share, compared with $19.476 million, or $0.08 per share in the same period last year. Excluding items, income slipped to $29.692 million, or $0.11 per share from the prior year's $30.773 million, or $0.12 per share in 2025.

Total operating expenses were $98.982 million, higher than $81.182 million in the previous year. Total cost of revenue was $25.207 million, compared with $17.677 million a year ago.

Operating income was $6.949 million as against the prior year's $14.417 million. Total revenue moved up to $131.138 million from last year's $113.276 million. Revenue from subscription service was $97.685 million, higher than $80.814 million in the previous year.

In addition, Cellebrite has announced that Shiven Ramji, who joined Cellebrite as President, Products and Technology in May, has succeeded Thomas E. Hogan as the company's Chief Executive Officer with immediate effect.

Looking ahead, for the third-quarter of fiscal 2026, Cellebrite expects adjusted EBITDA of $42 million to $45 million, with revenue of $145 million to $148 million.

For the third-quarter of fiscal 2025, the company had posted adjusted EBITDA of $37.7 million, on revenue of $126 million.

For fiscal 2026, the company now projects adjusted EBITDA of $153 million to $159 million against the prior guidance of $149 million to $155 million.

For fiscal 2026, Cellebrite now expects revenue of $555 million to $561 million, compared with the prior outlook of $565 million to $571 million.

For fiscal 2025, the company had reported adjusted EBITDA of $127.6 million, with revenue of $475.7 million.

CLBT was down by 28.39% at $10.76 in the pre-market trade on the Nasdaq.