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Why Software Company Cellebrite Shares Are Up Today

Cellebrite DI Ltd. (NASDAQ:CLBT) shares are trading higher after it reported first-quarter FY24 results. Revenue rose 26% Y/Y to $89.6 million, beating the consensus of $87.8 million. Annual Recurring Revenue (ARR) stood at $331.8 million, up 27% Y/Y. Yossi Carmil, Cellebrite’s CEO said, “Looking ahead, we continue to see customer budgets trend favorably in support of their plans to enhance and expand their digital investigative capabilities with our solutions over the coming quarters. We are excited about our prospects over the coming quarters and have reaffirmed ...