Shares of Cellebrite DI Ltd (NASDAQ:CLBT) are trading sharply lower on Thursday following the release of second-quarter financial results that missed top-line expectations alongside downgraded revenue guidance for the third quarter and full-year 2026.
- Cellebrite DI stock is testing key support levels. Why did CLBT hit a new low?
Q2 Financial Results Miss Revenue Estimates
For the second quarter, Cellebrite reported adjusted earnings of 11 cents per share, meeting analyst expectations. However, quarterly revenue came in at $131.14 million, falling short of the consensus estimate of $131.87 million despite a 15.8% year-over-year increase.
Looking ahead, the company expects third-quarter sales between $145 million and $148 million, below market consensus of $150.3 million.
Cellebrite also lowered its full-year 2026 sales guidance to a range of $555million to $561 million, down from its previous forecast of $565 million to $571 million and under Wall Street’s $568.05 million projection.
Management Addresses Execution and Procurement Delays
Newly appointed CEO Shiv Ramji addressed the quarterly performance during the earnings call, taking direct responsibility for the missed targets.
“We did not deliver the ARR and revenue performance we expected in the second quarter,” Ramji said, noting that the shortfall stemmed from timing delays on large transactions with U.S. federal and European government customers encountering new procurement requirements.
Ramji emphasized that leadership is implementing greater rigor around sales execution and tightening forecasting discipline moving forward.
CLBT Shares Fall Sharply Thursday Afternoon
CLBT Price Action: Cellebrite DI shares were down 31.41% at $10.46 at the time of publication on Thursday. The stock is trading at a new 52-week low, according to Benzinga Pro data.
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