Celebrity (CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, reports revenues of $71.7 million, an increase of 9% compared to the corresponding quarter last year, of which subscription revenues were $55.6 million, an increase of 8% compared to the corresponding quarter last year . Annual recurring revenue (ARR) amounted to 232 million dollars, an increase of 35% compared to the previous year.
Fully diluted adjusted earnings per share 1 cent – the market expected 2 cents. “The demand we see in the market demonstrates how relevant our innovative solutions are to public security organizations and private corporations, who recognize the need to modernize their investigative processes in light of the increasing digital complexity of crimes and evidence,” said Yossi Carmel, CEO of Celebrite, adding, “We are particularly proud In the excellent revenue retention rate from our customers, which proves that our market penetration strategy is yielding results.
“We have made progress in the activities we started in the previous quarter, and we are excited for the opportunities ahead of us in fulfilling our mission of assisting our clients in saving and protecting human lives, speeding up the wheels of justice and maintaining privacy around the world.”
The company launched the next generation of the Cellebrite Guardian product that provides law enforcement capabilities in the ethical handling of digital evidence, including storage, management and sharing of evidence, with the ability to review digital evidence at an unprecedented speed. Additional features create increased flexibility for law enforcement agencies and help them ensure the preservation of digital information privacy, by eliminating weak points in the investigation process such as physical duplication of digital evidence, transportation of digital evidence, and examination of digital evidence, which take a lot of time.
The company announced Sandline Global as the first private sector customer of the Cellebrite Guardian product. This multi-year investment is expected to increase Sandline’s internal investigative and evidence management activities.
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Financial forecast
“We are proud to present in the third quarter a 35% growth in annual recurring revenue (ARR) compared to last year, which reflects a market demand for our digital intelligence solutions. However, against the background of the strengthening of the dollar against European and other currencies, we expect to finish the fiscal year 2022 In the low range of our forecast,” said Dana Garner, CFO of Celebrate. “We will continue to invest effectively in our innovation and solutions, to meet our goals for this year, which we presented last quarter.”
Celebrity is traded at a value of 876 million dollars on Wall Street. The company issued about a year and three months ago at a value of about 2 billion dollars. Since the offering, the share price has fallen by 54%.
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