Venture Global: Q2 Earnings Snapshot
On a per-share basis, the Arlington, Virginia-based company said it had net income of 14 cents.
The exporter of liquid natural gas posted revenue of $3.1 billion in the period.
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Cellebrite Announces Second-Quarter 2025 Results
Thomas E. Hogan Named CEO ARR grew 21% to $418.9 million; Revenue grew 18% to $113.3 million Net income of $19.5 million supports non-GAAP net income of $30.8 million and adjusted EBITDA of $27.9 million, 24.6% adjusted EBITDA margin TYSONS CORNER, Va. and PETAH TIKVA, Israel, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Cellebrite (NASDAQ: CLBT), a global leader in premier Digital Investigative solutions for the public and private sectors, today announced financial results for the three and six months ending June 30, 2025 and the appointment of Thomas E. Hogan as the Company's CEO. 'Cellebrite delivered a strong balance of top-line growth, profitability and cash flow,' stated Thomas E. Hogan, Cellebrite's CEO. 'The Company converted 18% revenue growth into a 29% increase in adjusted EBITDA while free cash flow grew 133% to $29.0 million, or 26% on an FCF margin basis.'Hogan said, 'We continued to make important strategic progress on multiple fronts. As shared over the past 90 days, we have announced our agreement to acquire Corellium, the market leader in Arm-based virtualization. This acquisition is still pending regulatory approval and our forward guidance has yet to contemplate the contributions from Corellium, which we believe will positively impact growth across both the private and public sector segments. We also made significant progress in our FedRAMP journey with the recently announced sponsorship of the US Department of Justice. This critical sponsorship sets the stage for Authorization to Operate (ATO) and unlocks the 2026 deployment of Cellebrite's cloud-delivered assets across the US Federal government and their mission-driven pursuit of public safety.'Hogan continued, 'Just as notable, we have concluded two significant leadership appointments. First, after an illustrious 11-year tenure as CFO, Dana Gerner has elected to retire. She has been succeeded by David Barter as Cellebrite's new chief financial officer. David brings a rich history and track record of SaaS-based, public company software growth. David has partnered closely with Dana since joining to effect a smooth transition.'Commenting on the appointment of Hogan as CEO, Adam H. Clammer, chairman of Cellebrite's board of directors, stated, 'Even as we cast a wide net to surface a number of exceptional candidates who vied for the CEO role, Tom had long been our preferred choice to serve as CEO. His vast technology leadership experience, intense focus on strategy and intimacy with Cellebrite's executive team, workforce and customers gained over the past two years are enormous assets. The Board was unanimous in its conviction that Tom is the right individual to lead Cellebrite, providing valuable continuity for Cellebrite's people, shareholders and customers. I have confidence the strategic initiatives already underway and those that will be communicated over the coming quarters will elevate the Company's value with customers and lead to a stronger Cellebrite.' 'There is no company better positioned to radically change the future of public safety than Cellebrite,' concluded Hogan. 'We have a clear and compelling vision as we double-down on our mission, and advance innovation across law enforcement, defense, intelligence and the private sector. I feel proud and privileged to join forces every day with our employees and our customers, who are the brave men and women that risk their lives every day to make our lives better and safer. There is much work to do to combat bad actors, but I am confident that the 1200+ Cellebriters are up to this challenge.' Second-Quarter 2025 Financial Highlights Revenue of $113.3 million, up 18% year-over-year Subscription revenue was $103.0 million, up 21% year-over-year Annual Recurring Revenue (ARR) of $418.9 million, up 21% year-over-year Recurring revenue dollar-based net retention rate of 120% GAAP gross profit and gross margin of $95.6 million and 84.4%, respectively; Non-GAAP gross profit and gross profit margin of $96.4 million and 85.1%, respectively GAAP net income of $19.5 million; Non-GAAP net income of $30.8 million GAAP diluted earnings per share of $0.08; Non-GAAP diluted earnings per share of $0.12 Adjusted EBITDA and adjusted EBITDA margin of $27.9 million and 24.6%, respectively CEO Appointment Cellebrite also announced today that Thomas E. Hogan has been appointed chief executive officer, effective immediately. Hogan had served as Cellebrite's interim CEO since January 2025, a role that was preceded by his service as the Company's executive chairman since August 2023. He will continue to serve on Cellebrite's Board of Directors with Adam H. Clammer remaining in his role as Chairman of the Board. Hogan is a proven technology and software executive with a remarkable 40+ year track record of generating exceptional shareholder returns that reflect his role in scaling global businesses, deepening customer relationships, driving innovation, acquiring and integrating growth-oriented businesses, attracting and retaining talent and managing through a wide range of market conditions. Hogan's operating experience includes over a decade as both a private and publicly held software CEO as well as senior executive posts ranging from late stage private to mega-cap public companies. Second-Quarter 2025 and Recent Business & Operational Highlights Leadership On July 7, 2025, David Barter, a proven finance executive with extensive public company CFO experience in technology and software, joined Cellebrite as CFO. Reporting to CEO Thomas Hogan, Barter is responsible for the Company's financial operations, corporate development, investor relations and operations. Strategy On June 5, 2025, Cellebrite announced its agreement to acquire Corellium, a leader in Arm-based virtualization software. This combination will set a new standard for digital investigations and the security of smart devices including iOS, Android, automotive systems and any Arm-based IoT device. The acquisition of Corellium is expected to bring highly differentiated innovative technology that will broaden Cellebrite's TAM in both the public and private sectors. Cellebrite intends to acquire Corellium for an enterprise value of $170 million in cash with $20 million converted to equity at closing. Corellium securityholders may receive up to an additional $30 million in cash based on the achievement of certain performance milestones over the next two years. The deal remains subject to approval of the Committee on Foreign Investment in the United States and other customary closing conditions. Innovation On July 23, 2025, Cellebrite announced that the U.S. Department of Justice (DOJ) will serve as the official sponsoring agency for the platform's pursuit of a FedRAMP High authorization. DOJ's sponsorship is the critical step required for Cellebrite Government Cloud to advance from its current FedRAMP High Ready designation to 'In Process' status. This marks a major milestone that significantly accelerates Cellebrite's compliance journey toward a full Authorization to Operate. On June 24, 2025, Cellebrite announced the expansion of its relationship with the National Center for Missing and Exploited Children (NCMEC) that will help speed up investigations involving crimes against children. Cellebrite integrated NCMEC's CyberTipline hash value list within its flagship digital forensics software, Cellebrite Inseyets, allowing public safety agencies to immediately pinpoint known child sexual abuse material (CSAM) files – speeding up time to evidence and justice for victims and survivors of abuse. Supplemental financial information can be found on the Investor Relations section of our website at Financial OutlookDavid Barter, Cellebrite's CFO, stated, 'Cellebrite's second-quarter 2025 revenue growth reflects increased adoption across our global customer base, highlighted by strength from our U.S. state and local and Latin America customers. Our second-quarter execution also produced healthy levels of free cash flow. We believe that recent U.S. legislation will ultimately support stronger federal spending on Cellebrite's solutions. However, until demand converts to contracted spending, we have made modest adjustments to our full-year 2025 ARR and revenue outlook. We anticipate our strong operating fundamentals will support another year of robust free cash flow growth and an attractive free cash flow margin.' The Company's third-quarter and full-year 2025 expectations are as follows: Third-Quarter 2025 Expectations Full-Year 2025 Expectations (as of 8/14/25) (as of 8/14/25) ARR $435 million - $445 million $460 million - $475 million Annual Growth 17% - 20% 16% - 20% Revenue $121 million - $126 million $465 million - $475 million Annual Growth 13% - 18% 16% - 18% Adjusted EBITDA $31 million - $34 million $118 million - $123 million Adjusted EBITDA margin 26% - 27% 25% - 26% Conference Call InformationCellebrite will host a live conference call and webcast later this morning to review the Company's financial results for the second-quarter 2025 and discuss its full-year 2025 outlook. Pertinent details include: Date: Thursday, August 14, 2025 Time: 8:30 a.m. ET Call-In Number: 203-518-9783 / 800-267-6316 Conference ID: CLBTQ225 Event URL: Webcast URL: In conjunction with the conference call and webcast, historical financial tables and supplemental data will be available on the quarterly results section of Company's investor relations website at Non-GAAP Financial Information and Key Performance IndicatorsThis press release includes non-GAAP financial measures. Cellebrite believes that the use of non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP EPS, Adjusted EBITDA and free cash flow is helpful to investors. These measures, which the Company refers to as its non-GAAP financial measures, are not prepared in accordance with GAAP. The Company believes that the non-GAAP financial measures provide a more meaningful comparison of its operational performance from period to period, and offer investors and management greater visibility into the underlying performance of its business. Mainly: Share-based compensation expenses utilize varying available valuation methodologies, subjective assumptions and a variety of equity instruments that can impact a company's non-cash expenses; Acquired intangible assets are valued at the time of acquisition and are amortized over an estimated useful life after the acquisition, and acquisition-related expenses are unrelated to current operations and neither are comparable to the prior period nor predictive of future results; To the extent that the above adjustments have an effect on tax (income) expense, such an effect is excluded in the non-GAAP adjustment to net income; Tax expense, depreciation and amortization expense vary for many reasons that are often unrelated to our underlying performance and make period-to-period comparisons more challenging; and Financial instruments are remeasured according to GAAP and vary for many reasons that are often unrelated to the Company's current operations and affect financial income. Free cash flow is calculated as net cash provided by or used in operating activities less purchases of property and equipment. We believe that free cash flow is a useful indicator of liquidity that provides information to management and investors about the amount of cash provided by or used in our operations that, after the investments in property and equipment, can be used for strategic initiatives. Each of our non-GAAP financial measures is an important tool for financial and operational decision making and for evaluating our own operating results over different periods of time. The non-GAAP financial measures do not represent our financial performance under U.S. GAAP and should not be considered as alternatives to operating income or net income or any other performance measures derived in accordance with GAAP. Non-GAAP measures should not be considered in isolated from, or as an alternative to, financial measures determined in accordance with GAAP. Non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in our industry, as other companies in our industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, and exclude expenses that may have a material impact on our reported financial results. Further, share-based compensation expense has been, and will continue to be for the foreseeable future, significant recurring expenses in our business and an important part of the compensation provided to our employees. In addition, the amortization of intangible assets is expected recurring expense over the estimated useful life of the underlying intangible asset and acquisition-related expenses will be incurred to the extent acquisitions are made in the future. Furthermore, foreign exchange rates may fluctuate from one period to another, and the Company does not estimate movements in foreign currencies. A reconciliation of each of these non-GAAP financial measures to their most comparable GAAP measure is set forth in a table included at the end of this press release, which is also available on our website at In regard to forward-looking non-GAAP guidance, we are not able to reconcile the forward-looking Adjusted EBITDA measure to the closest corresponding GAAP measure without unreasonable efforts because we are unable to predict the ultimate outcome of certain significant items including, but not limited to, fair value movements, share-based payments for future awards, tax expense, depreciation and amortization expense, and certain financing and tax items. This press release also includes key performance indicators, including annual recurring revenue and dollar-based retention rate. Annual recurring revenue ('ARR') is defined as the annualized value of active term-based subscription license contracts and maintenance contracts related to perpetual licenses in effect at the end of that period. Subscription license contracts and maintenance contracts for perpetual licenses are annualized by multiplying the revenue of the last month of the period by 12. The annualized value of contracts is a legal and contractual determination made by assessing the contractual terms with our customers. The annualized value of maintenance contracts is not determined by reference to historical revenue, deferred revenue or any other GAAP financial measure over any period. ARR is not a forecast of future revenues, which can be impacted by contract start and end dates and renewal rates. Dollar-based net retention rate ('NRR') is calculated by dividing customer recurring revenue by base revenue. We define base revenue as recurring revenue we recognized from all customers with a valid license at the last quarter of the previous year period, during the four quarters ended one year prior to the date of measurement. We define our customer revenue as the recurring revenue we recognized during the four quarters ended on the date of measurement from the same customer base included in our measure of base revenue, including recurring revenue resulting from additional sales to those customers. References to Websites and Social Media PlatformsReferences to information included on, or accessible through, websites and social media platforms do not constitute incorporation by reference of the information contained at or available through such websites or social media platforms, and you should not consider such information to be part of this press release. Caution Regarding Forward Looking StatementsThis document includes 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of words such as 'forecast,' 'intend,' 'seek,' 'target,' 'anticipate,' 'will,' 'appear,' 'approximate,' 'foresee,' 'might,' 'possible,' 'potential,' 'believe,' 'could,' 'predict,' 'should,' 'could,' 'continue,' 'expect,' 'estimate,' 'may,' 'plan,' 'outlook,' 'future' and 'project' and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, projected estimated financial information for the third quarter of 2025 and for fiscal year 2025 and certain statements such as our expectations regarding the expansion of our business globally, the re-acceleration of growth in 2026 and regarding recent U.S. legislation supporting strong federal spending our Cellebrite's products. Such forward-looking statements are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to: Cellebrite's ability to keep pace with technological advances and evolving industry standards; Cellebrite's material dependence on the purchase, acceptance and use of its solutions by law enforcement and government agencies; real or perceived errors, failures, defects or bugs in Cellebrite's digital investigation solutions; Cellebrite's failure to maintain the productivity of sales and marketing personnel, including relating to hiring, integrating and retaining personnel; intense competition in all of Cellebrite's markets; the inadvertent or deliberate misuse of Cellebrite's solutions; failure to manage its growth effectively; Cellebrite's ability to introduce new solutions and add-ons; Cellebrite's dependency on its customers renewing their subscriptions and purchasing new subscriptions; the low volume of business Cellebrite conducts via e-commerce; risks associated with the use of artificial intelligence; the risk of requiring additional capital to support the growth of its business; risks associated with Cellebrite's dependency on third parties for supplying components or services and with higher costs or unavailability of materials used to create its hardware product components; lengthy sales cycle for some of Cellebrite's solutions; near term declines in new or renewed agreements; risks associated with inability to recruit, train and retain qualified personnel and senior management; the security of Cellebrite's operations and the integrity of its software solutions against cyber-attacks, information technology system breaches or disruptions; risks associated with the negative publicity related to Cellebrite's business and use of its products; risks related to Cellebrite's intellectual property; the regulatory constraints to which Cellebrite is subject; risks associated with Cellebrite's operations in Israel, including the ongoing Israel-Hamas war, the increased tension between Israel and Iran and its proxies, including the ongoing hostilities between Israel and Hezbollah, and the risk of a greater regional conflict; risks associated with different corporate governance requirements applicable to Israeli companies and risks associated with being a foreign private issuer and an emerging growth company; market volatility in the price of Cellebrite's shares; changing tax laws and regulations; risks associated with joint, ventures, partnerships and strategic initiatives; risks associated with Cellebrite's significant international operations, including due to fluctuations in foreign currency exchange rates, rising global inflation and exposure to regions subject to political or economic instability; risks associated with Cellebrite's failure to comply with anti-corruption, trade compliance, anti-money-laundering and economic sanctions laws and regulations; risks relating to the adequacy of Cellebrite's existing systems, processes, policies, procedures, internal controls and personnel for Cellebrite's current and future operations and reporting needs; and other factors, risks and uncertainties set forth in the section titled 'Risk Factors' in Cellebrite's annual report on Form 20-F filed with the SEC on March 18, 2025, and in other documents filed by Cellebrite with the U.S. Securities and Exchange Commission ('SEC'), which are available free of charge at You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, in this communication or elsewhere. Cellebrite undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. About Cellebrite Cellebrite's (Nasdaq: CLBT) mission is to enable its global customers to protect and save lives by enhancing digital investigations and intelligence gathering to accelerate justice in communities around the world. Cellebrite's AI-powered Digital Investigation Platform enables customers to lawfully access, collect, analyze and share digital evidence in legally sanctioned investigations while preserving data privacy. Thousands of public safety organizations, intelligence agencies, and businesses rely on Cellebrite's digital forensic and investigative solutions—available via cloud, on-premises, and hybrid deployments—to close cases faster and safeguard communities. To learn more, visit us at and find us on social media @Cellebrite. Contacts: Investors RelationsAndrew KramerVice President, Investor Relationsinvestors@ 973.206.7760 MediaVictor CooperSr. Director of Corporate Communications + Content 404.804.5910 Cellebrite DI 2025 Results Summary(U.S Dollars in thousands) For the three months ended For the six months ended June 30, June 30, 2025 2024 2025 2024 Revenue 113,276 95,714 220,825 185,296 Gross profit 95,599 79,453 185,658 155,771 Gross margin 84.4 % 83.0 % 84.1 % 84.1 % Operating income 14,417 12,487 26,685 21,734 Operating margin 12.7 % 13.0 % 12.1 % 11.7 % Net income (loss) 19,476 (23,811 ) 36,876 (95,183 ) Cash flow from operating activities 32,583 14,513 53,461 24,554 Non-GAAP Financial Data: Operating income 26,224 19,806 48,195 35,685 Operating margin 23.2 % 20.7 % 21.8 % 19.3 % Net income 30,773 22,925 56,952 39,791 Adjusted EBITDA 27,885 21,618 51,561 39,250 Adjusted EBITDA margin 24.6 % 22.6 % 23.3 % 21.2 % Cellebrite DI Consolidated Balance Sheets(U.S. Dollars in thousands) June 30, December 31, 2025 2024 Assets Current assets Cash and cash equivalents $ 179,223 $ 191,659 Short-term deposits 146,053 153,746 Marketable securities 146,908 101,818 Trade receivables (net of allowance for credit losses of $574 and $594 as of June 30, 2025 and December 31, 2024, respectively) 93,127 82,358 Prepaid expenses and other current assets 23,489 23,246 Contract acquisition costs 7,772 5,827 Inventories 9,537 8,939 Total current assets 606,109 567,593 Non-current assets Other non-current assets 6,687 7,682 Marketable securities 85,661 36,601 Deferred tax assets, net 12,586 11,072 Property and equipment, net 19,962 16,995 Intangible assets, net 10,242 11,306 Operating lease right-of-use assets, net 17,464 10,604 Goodwill 28,714 28,714 Total non-current assets 181,316 122,974 Total assets $ 787,425 $ 690,567 Liabilities and shareholders' equity Current Liabilities Trade payables $ 10,587 $ 11,077 Other accounts payable and accrued expenses 67,969 63,330 Deferred revenues 227,177 216,970 Operating lease liabilities 4,236 4,125 Total current liabilities 309,969 295,502 Long-term liabilities Other long-term liabilities 6,852 6,954 Deferred revenues 44,096 45,247 Operating lease liabilities 18,095 6,844 Total long-term liabilities 69,043 59,045 Total liabilities 379,012 354,547 Shareholders' equity Share capital * ) * ) Additional paid-in capital 533,847 498,883 Treasury share, NIS 0.00001 par value; 41,776 ordinary shares (85 ) (85 ) Accumulated other comprehensive income 2,639 2,086 Accumulated deficit (127,988 ) (164,864 ) Total shareholders' equity 408,413 336,020 Total liabilities and shareholders' equity $ 787,425 $ 690,567 *) Less than 1 USDCellebrite DI Consolidated Statements of Income(U.S Dollars in thousands, except share and per share data) For the three months ended For the six months ended June 30, June 30, 2025 2024 2025 2024 Revenue: Subscription services $ 80,814 $ 65,738 $ 157,502 $ 127,841 Term-license 22,147 19,630 41,288 36,749 Other non-recurring 3,292 3,486 7,703 7,054 Professional services 7,023 6,860 14,332 13,652 Total revenue 113,276 95,714 220,825 185,296 Cost of revenue: Subscription services 8,522 6,399 16,954 12,197 Other non-recurring 3,198 4,826 6,499 7,920 Professional services 5,957 5,036 11,714 9,408 Total cost of revenue 17,677 16,261 35,167 29,525 Gross profit $ 95,599 $ 79,453 $ 185,658 $ 155,771 Operating expenses: Research and development 28,611 23,693 55,888 46,890 Sales and marketing 38,685 32,320 77,453 64,379 General and administrative 13,886 10,953 25,632 22,768 Total operating expenses $ 81,182 $ 66,966 $ 158,973 $ 134,037 Operating income $ 14,417 $ 12,487 $ 26,685 $ 21,734 Financial income (expense), net 6,374 (34,502 ) 13,434 (113,078 ) Income (loss) before tax 20,791 (22,015 ) 40,119 (91,344 ) Tax expense 1,315 1,796 3,243 3,839 Net income (loss) $ 19,476 $ (23,811 ) $ 36,876 $ (95,183 ) Earnings (losses) per share Basic $ 0.08 $ (0.12 ) $ 0.15 $ (0.48 ) Diluted $ 0.08 $ (0.12 ) $ 0.15 $ (0.48 ) Weighted average shares outstanding Basic 240,358,573 198,949,594 238,811,210 197,840,662 Diluted 248,980,462 198,949,594 249,410,357 197,840,662 Other comprehensive income: Unrealized income (loss) on hedging transactions 2,936 (326 ) 2,157 (850 ) Unrealized income (loss) on marketable securities 39 (100 ) 103 (320 ) Currency translation adjustments (1,226 ) 187 (1,707 ) 1,370 Total other comprehensive income (loss), net of tax 1,749 (239 ) 553 200 Total other comprehensive income (loss) $ 21,225 $ (24,050 ) $ 37,429 $ (94,983 ) Cellebrite DI Consolidated Statements of Cash Flow(U.S Dollars in thousands, except share and per share data) For the three months ended For the six months ended June 30, June 30, 2025 2024 2025 2024 Cash flow from operating activities: Net income (loss) $ 19,476 $ (23,811 ) $ 36,876 $ (95,183 ) Adjustments to reconcile net income to net cash provided by operating activities: Share-based compensation and RSU's 8,810 6,555 17,587 12,251 Amortization of premium, discount and accrued interest on marketable securities (1,202 ) (755 ) (1,725 ) (1,302 ) Depreciation and amortization 2,592 2,576 5,223 5,256 Interest income from short-term deposits (2,303 ) (2,642 ) (4,683 ) (5,470 ) Deferred tax assets, net (1,387 ) (942 ) (1,773 ) (1,568 ) Remeasurement of Warrant liability — 16,806 — 39,393 Remeasurement of Restricted Sponsor Shares liability — 9,098 — 27,983 Remeasurement of Price Adjustment Shares liability — 12,676 — 53,043 (Increase) decrease in trade receivables (10,931 ) (9,237 ) (9,210 ) 6,021 Increase (decrease) in deferred revenue 2,310 (1,649 ) 3,302 (15,055 ) Decrease (increase) in other non-current assets 210 (1,492 ) 995 (883 ) (Increase) decrease in prepaid expenses and other current assets (2,748 ) 785 2,732 2,752 Changes in operating lease right-of-use assets 1,070 1,313 2,226 2,641 Changes in operating lease liability (532 ) (1,273 ) (1,711 ) (2,542 ) (Increase) decrease in inventories (524 ) 474 (534 ) 1,151 Decrease in trade payables (166 ) (449 ) (1,212 ) (1,591 ) Increase (decrease) in other accounts payable and accrued expenses 17,622 6,114 5,470 (3,320 ) Increase (decrease) in other long-term liabilities 286 366 (102 ) 977 Net cash provided by operating activities 32,583 14,513 53,461 24,554 Cash flows from investing activities: Purchases of property and equipment (3,608 ) (2,073 ) (5,947 ) (3,568 ) Purchase of Intangible assets — (279 ) — (904 ) Investment in marketable securities (53,190 ) (30,890 ) (183,146 ) (99,282 ) Proceeds from maturities of marketable securities 32,204 20,391 59,623 35,436 Proceeds from sales of marketable securities 31,166 — 31,166 — Investment in short-term deposits — (79,000 ) (84,000 ) (122,000 ) Redemption of short-term deposits 34,005 58,587 96,377 75,459 Net cash provided by (used in) investing activities 40,577 (33,264 ) (85,927 ) (114,859 ) Cash flows from financing activities: Exercise of options to shares 12,624 2,568 15,117 6,887 Proceeds from Employee Share Purchase Plan 1,202 756 2,329 1,506 Net cash provided by financing activities 13,826 3,324 17,446 8,393 Net increase (decrease) in cash and cash equivalents 86,986 (15,427 ) (15,020 ) (81,912 ) Net effect of Currency Translation on cash and cash equivalents 1,762 (49 ) 2,584 (649 ) Cash and cash equivalents at beginning of period 90,475 122,432 191,659 189,517 Cash and cash equivalents at end of period $ 179,223 $ 106,956 $ 179,223 $ 106,956 Supplemental cash flow information: Income taxes (received) paid $ (8,879 ) $ 1,766 $ (8,073 ) $ 2,557 Non-cash activities Operating lease liabilities arising from obtaining right-of-use assets $ 12,328 $ 126 $ 13,141 $ 215 Cellebrite DI of GAAP to Non-GAAP Financial Information(U.S Dollars in thousands, except share and per share data) For the three months ended For the six months ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Cost of revenue $ 17,677 $ 16,261 $ 35,167 $ 29,525 Less: Share-based compensation 827 663 1,577 1,093 Acquisition-related costs — — — 2 Non-GAAP cost of revenue $ 16,850 $ 15,598 $ 33,590 $ 28,430 For the three months ended For the six months ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Gross profit $ 95,599 $ 79,453 $ 185,658 $ 155,771 Share-based compensation 827 663 1,577 1,093 Acquisition-related costs — — — 2 Non-GAAP gross profit $ 96,426 $ 80,116 $ 187,235 $ 156,866 For the three months ended For the six months ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Operating expenses $ 81,182 $ 66,966 $ 158,973 $ 134,037 Less: Share-based compensation 7,983 5,892 16,010 11,158 Amortization of intangible assets 931 764 1,857 1,691 Acquisition-related costs 2,066 — 2,066 7 Non-GAAP operating expenses $ 70,202 $ 60,310 $ 139,040 $ 121,181 For the three months ended For the six months ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Operating income $ 14,417 $ 12,487 $ 26,685 $ 21,734 Share-based compensation 8,810 6,555 17,587 12,251 Amortization of intangible assets 931 764 1,857 1,691 Acquisition-related costs 2,066 — 2,066 9 Non-GAAP operating income $ 26,224 $ 19,806 $ 48,195 $ 35,685 For the three months ended For the six months ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net income (loss) $ 19,476 $ (23,811 ) $ 36,876 $ (95,183 ) Share-based compensation 8,810 6,555 17,587 12,251 Amortization of intangible assets 931 764 1,857 1,691 Acquisition-related costs 2,066 — 2,066 9 Tax (income) expense (510 ) 837 (1,434 ) 604 Finance expense from financial derivatives — 38,580 — 120,419 Non-GAAP net income $ 30,773 $ 22,925 $ 56,952 $ 39,791 Non-GAAP Earnings per share: Basic $ 0.13 $ 0.11 $ 0.24 $ 0.19 Diluted $ 0.12 $ 0.10 $ 0.22 $ 0.18 Weighted average shares outstanding: Basic 240,358,573 198,949,594 238,811,210 197,840,662 Diluted 252,713,944 211,343,253 252,618,208 210,616,686 For the three months ended For the six months ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net income (loss) $ 19,476 $ (23,811 ) $ 36,876 $ (95,183 ) Financial (income) expense, net (6,374 ) 34,502 (13,434 ) 113,078 Tax expense 1,315 1,796 3,243 3,839 Share-based compensation 8,810 6,555 17,587 12,251 Amortization of intangible assets 931 764 1,857 1,691 Acquisition-related costs 2,066 — 2,066 9 Depreciation expenses 1,661 1,812 3,366 3,565 Adjusted EBITDA $ 27,885 $ 21,618 $ 51,561 $ 39,250 For the three months ended For the six months ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net cash provided by operating activities $ 32,583 $ 14,513 $ 53,461 $ 24,554 Less: Purchases of property and equipment (3,608 ) (2,073 ) (5,947 ) (3,568 ) Free cash flow $ 28,975 $ 12,440 $ 47,514 $ 20,986 Free cash flow margin 25.6 % 13.0 % 21.5 % 11.3 %Error in retrieving data 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- Business Wire
Agility Retail Group Expands Domestic Manufacturing Capabilities with Acquisition of Infinity Retail Services
MANSFIELD, Mass.--(BUSINESS WIRE)--Agility Retail Group ('Agility Retail'), a partner company of San Francisco Equity Partners ('SFEP'), today announced the acquisition of Infinity Retail Services ('Infinity'), a Wisconsin-based designer and manufacturer of retail fixtures and displays, primarily focused on the telecom channel. The acquisition of Infinity is Agility Retail's fourth under partnership with SFEP and the company's eighth acquisition since its founding. Terms of the deal were not disclosed. Agility Retail Group announced the acquisition of Infinity Retail Services, a Wisconsin-based designer and manufacturer of retail fixtures and displays, Share Infinity's founders, Kevin and Wendy Jansen, have retained significant equity ownership, and Infinity's management team will continue to operate the business. 'I am thrilled about this new chapter for Infinity and the partnership with Agility Retail,' said Kevin Jansen. 'The Agility leadership team shares our customer-first mentality, and we look forward to benefitting from Agility's breadth and resources to deliver even better service to our customers going forward.' 'We are excited to welcome the Infinity team to Agility Retail,' said Peter Stevens, CEO of Agility Retail. 'This partnership further expands our design and manufacturing capabilities, as well as our channels of operation. Infinity's organization is comprised of high-quality people operating out of a world-class manufacturing facility. We look forward to building on the team's legacy of delivering exceptional service to Infinity's customer base.' Added David Mannix, Partner at SFEP, 'Agility Retail has emerged as a scaled and differentiated platform due to the breadth and strength of its design, manufacturing and procurement capabilities and its unrelenting dedication to customer service. Infinity will be a highly complementary addition to the platform as we bring the teams together to continue building the premier business in the industry.' About Agility Retail Group Agility Retail Group is a leading retail services company offering comprehensive solutions in design, fabrication, sourcing, installation, and program management for physical store environments. With a diverse set of capabilities and a commitment to exceptional customer service, Agility Retail Group partners with leading retail, grocery and foodservice brands and operators across North America. For more information, visit About San Francisco Equity Partners San Francisco Equity Partners is a private equity firm focused exclusively on partnering with lower middle market companies in the consumer value chain. To each of its portfolio companies, SFEP serves as an extension of the management team and provides deep consumer domain expertise, strategic and operational guidance, a broad network of relationships and a stable of industry resources. For more information, please visit
Yahoo
36 minutes ago
- Yahoo
Castellum, Inc. Announces Aggregate Warrant Exercises Raising Additional Proceeds of Approximately $4.5 Million
Castellum, Inc. Announces Aggregate Warrant Exercises Raising Additional Proceeds of Approximately $4.5 Million VIENNA, Va., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM) ('Castellum' or 'CTM'), a cybersecurity, electronic warfare, and software engineering services company focused on the federal government, announced today that following CTM's June 12, 2025 public offering of 4,166,667 units (each unit consisting of one share of common stock and one warrant with an exercise price of $1.22 that would expire on August 12, 2025), investors have exercised an aggregate of 3,673,666 warrants for total gross proceeds of $4,481,873. 'This impressive expression of investor confidence in Castellum and our business plan will, with our continued focus and resolve, allow us to continue to invest in more growth initiatives,' said David Bell, Chief Financial Officer of Castellum. 'We are pleased to have raised another $4.5 million at $1.22 per share,' said Glen Ives, President and CEO of Castellum. 'This new capital further strengthens our already solid balance sheet and positions us to finish 2025 with powerful momentum going into 2026.' About Castellum, Inc. (NYSE-American: CTM): Castellum, Inc. (NYSE-American: CTM) is a cybersecurity, electronic warfare, and software engineering services company focused on the federal government - Cautionary Statement Concerning Forward-Looking Statements: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent the Company's expectations or beliefs concerning future events and can generally be identified by the use of statements that include words such as 'estimate,' 'project,' 'believe,' 'anticipate,' 'shooting to,' 'intend,' 'plan,' 'foresee,' 'likely,' 'will,' 'would,' 'appears,' 'goal,' 'target' or similar words or phrases. Forward-looking statements include, but are not limited to, statements regarding the Company's expectations for revenue growth and new customer opportunities, improvements to cost structure, and profitability. Forward-looking statements include, but are not limited to, statements regarding the Company's expectations for revenue growth and new customer opportunities, including opportunities arising from its contracts, improvements to cost structure, and profitability. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company's control, that could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, among others: the Company's ability to compete against new and existing competitors; its ability to effectively integrate and grow its acquired companies; its ability to identify additional acquisition targets and close additional acquisitions; the impact on the Company's revenue due to a delay in the U.S. Congress approving a federal budget, operating under a prolonged continuing resolution, government shutdown, or breach of the debt ceiling, as well as the imposition by the U.S. government of sequestration in the absence of an approved budget; the ability of the U.S. federal government to unilaterally cancel a contract with or without cause, and more specifically, the potential impact of the U.S. DOGE Service Temporary Organization on government spending and terminating contracts for convenience. For a more detailed description of these and other risk factors, please refer to the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission ('SEC') which can be viewed at All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. The Company expressly disclaims any intent or obligation to update any of the forward-looking statements made in this release or in any of its SEC filings except as may be otherwise stated by the Company. Contact: Glen Ives President and Chief Executive Officer Phone: (703) 752-6157 info@ A photo accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
