Cellebrite DI (NASDAQ:CLBT) executives said the digital investigations company is seeing renewed momentum in government demand, international markets and new product categories, including artificial intelligence and defense-focused capabilities, during a JPMorgan cybersecurity and DevOps event hosted by analyst Brian Essex.
Chief Executive Officer Thomas Hogan described Cellebrite as a software platform used by law enforcement, intelligence and federal agencies to extract, manage and analyze digital data in criminal and national security investigations. Hogan said the company has been in business for about 20 years and is “recognized and acknowledged as the market leader” in its category.
Federal Business Seen Rebounding After Prior Headwinds
Hogan said Cellebrite’s growth slowed in 2025 primarily because of weakness in the U.S. federal market, which represents roughly 17% to 18% of the company’s business. He said that segment had historically grown at about 24%, but was essentially flat in 2025 due to disruption tied to the change in administration, leadership changes, the early days of the DOGE initiative and the time needed for the Big Beautiful Bill Act to move through the system.
As a result, Hogan said companywide ARR growth dipped to the “18-ish% range” last year, below the company’s historical low-to-mid-20% pace. He said Cellebrite had previously described the pressure as temporary and now expects a stronger rebound in 2026, with an opportunity for federal growth to exceed historical levels because of portfolio expansion and demand related to cyber and digital risk.
AI, Defense and Intelligence Products Highlighted
Hogan pointed to Genesis, Cellebrite’s agentic AI product, as a major long-term growth opportunity. He said the product is currently being used by 500 people in law enforcement and intelligence as early adopters and is producing feedback related to faster and more effective processing of investigative data. Hogan said Cellebrite has pegged the total addressable market for Genesis at $12.5 billion, which he said is roughly three to four times the size of the market the company has historically pursued.
However, Hogan said the product category that most excites him over the next 12 months is defense and intelligence. He cited opportunities tied to Cellebrite’s Kiosk capabilities, Corellium, Genesis and drone forensics, saying those assets are drawing interest from intelligence and defense agencies in allied democratic nations. He said average selling prices in those areas are “orders of magnitude bigger” than what the company has previously seen.
Barter also highlighted Cellebrite’s FedRAMP authorization for its case evidence capabilities as a key government-market lever. Hogan said the company achieved FedRAMP Level 4 authorization, which he described as the highest level and one requiring more than 400 security controls. He said Cellebrite is the only company in its space with that level of certification and authorization to operate.
Cellebrite Federal and Corellium Expand Access
Hogan said the company created Cellebrite Federal as a proxy company because Cellebrite is viewed as foreign-owned. While that status did not prevent the company from selling to U.S. federal agencies, Hogan said it limited the ability of employees to receive clearances and work on classified projects. Cellebrite Federal operates with an independent board and an information firewall, while rolling up into the consolidated company.
Hogan said the proxy structure, along with the FedRAMP authorization, has opened new opportunities. He also said it may benefit the company following its acquisition of Corellium, a sensitive technology asset that Cellebrite agreed to acquire in June and closed in December. Hogan said CFIUS is likely to request or mandate that Corellium’s intellectual property be housed within the proxy company to protect it from bad actors and foreign governments.
On Corellium’s broader market potential, Hogan said the asset plays most directly in defense and intelligence but also has enterprise use cases in dynamic security, DevSecOps, mobile penetration testing and sectors with heavy use of Arm-based technology, including automotive.
International Growth and Spending Initiatives
Hogan said Cellebrite had a robust quarter in Europe, with growth in the mid-20% range, while Asia-Pacific grew in the low 20% range. Barter said Europe has done well extending the platform from unlocking and extraction into products such as Guardian and Pathfinder, while Asia-Pacific and Japan are building adoption of case evidence and Guardian, including in Australia. Barter also said both regions are seeing early adoption of Genesis.
Hogan said Europe’s growth improved from about 15% to 25%, driven by defense and intelligence growth in the mid-30% range, which he said could be a sign of what may happen in the U.S. market following FedRAMP authorization.
Asked about exposure to the Big Beautiful Bill Act, Hogan said opportunities are spread across multiple categories, including digital evidence management, child exploitation, fentanyl and opioids, drone forensics, counterterrorism and sex trafficking. He said some specifications are beginning to require cloud certification, which he said could favor Cellebrite because of its FedRAMP status.
Hogan said Cellebrite’s growth drivers include increased digital crime, pricing power of about 4% to 6%, portfolio expansion and usage-based revenue models. He said Guardian is priced around terabytes of stored information, while Genesis is based on prompts, queries and a tokenization model tied to use of the AI engine.
About Cellebrite DI (NASDAQ:CLBT)
Cellebrite DI is a global provider of digital intelligence and forensics solutions that enable law enforcement agencies, government bodies and enterprises to extract, analyze and act on data from mobile devices, cloud services and digital sources. The company’s technology is designed to accelerate investigations, support evidence-based decision-making and enhance security operations by delivering actionable intelligence in a secure, scalable platform.
The company’s flagship offerings include the Universal Forensic Extraction Device (UFED) series for data acquisition and decoding, Physical Analyzer for advanced data parsing and visualization, and Pathfinder for case-driven investigation workflows.
