Cellebrite Appoints Shiven Ramji as CEO and Lowers FY26 ARR and Revenue Outlook
CLBT is trading near its 52-week low of $11.02 (6.9% above the low).
Summary
Cellebrite named Shiven Ramji as CEO and reduced FY26 ARR and revenue guidance, citing longer sales cycles, while increasing adjusted EBITDA targets.
Updates
· Benzinga — Shares fell 31% to $10.46, a 52-week low, after Q2 revenue of $131.14M missed estimates by $0.73M and Q3 revenue guidance was set below consensus.
Key Events · Earnings and Guidance · CLBT
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CEO Transition
Effective immediately, Shiven Ramji, who has served as President of Products and Technology since May 2026, succeeds Thomas E. Hogan as CEO. Ramji will also join the board.
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FY26 Guidance Cut
Full-year ARR outlook is lowered to $550M-$560M (14-16% growth) and revenue to $555M-$561M (17-18% growth), down from prior expectations due to longer sales cycles and slower Inseyets conversions.
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Adjusted EBITDA Raised
The full-year adjusted EBITDA target is raised to $153M-$159M (~28% margin), up from the original target, reflecting operating discipline.
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Q3 2026 Guidance
For Q3, ARR is expected at $524M-$528M, revenue at $145M-$148M, and adjusted EBITDA at $42M-$45M.
Analysis · CLBT · Technology
A CEO transition and a cut to full-year ARR and revenue guidance, offset by a higher adjusted EBITDA target, mark a meaningful reset for a premium-priced company. The lowered outlook reflects longer sales cycles and slower Inseyets conversions, while the CEO change introduces execution uncertainty. However, the raised EBITDA target signals cost discipline.
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At the time of this filing, CLBT was trading at $11.78 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.8B. The 52-week trading range was $11.02 to $19.98. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.