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TYSONS CORNER, Va. - Digital investigation solutions provider Cellebrite (NASDAQ:CLBT), a $3.65 billion market cap company with impressive gross profit margins of 84%, announced Tuesday the appointment of David Barter as its new Chief Financial Officer, effective immediately. Barter succeeds Dana Gerner, who is retiring after serving as the company’s CFO since 2014.
Gerner will remain in an advisory role until Cellebrite reports its second-quarter 2025 financial results in August. During her 11-year tenure, she helped transform Cellebrite into a publicly traded company with consistent revenue growth, achieving a 22% year-over-year increase in the last twelve months. According to InvestingPro, the company maintains a strong balance sheet with more cash than debt.
Barter brings over 30 years of financial leadership experience to the role, including significant experience with public technology companies. Most recently, he served as CFO at New Relic, where he helped grow the company to nearly $1 billion in annual revenue and supported its $6.5 billion sale. His previous positions include CFO roles at C3.ai and Model N, along with senior finance positions at Guidewire Software, Microsoft and General Electric.
In his new position, Barter will oversee Cellebrite’s financial operations, including planning, accounting, reporting, treasury, corporate development, investor relations and operations. He will report directly to CEO Thomas E. Hogan.
"I could not be more excited to join Cellebrite," Barter said in the press release statement. "The Company’s unique and compelling mission and focus on public safety captured my interest."
Cellebrite, headquartered in Tysons Corner, Virginia and Petah Tikva, Israel, provides digital investigative solutions to public safety organizations, intelligence agencies and businesses worldwide. The company will report its second-quarter 2025 financial results on August 14, 2025. Despite a 30% decline in share price over the past six months, analysts maintain a strong buy consensus, with InvestingPro analysis revealing 10+ additional key insights about the company’s financial health and valuation.
In other recent news, Cellebrite has announced its agreement to acquire Corellium for $170 million, with an additional $30 million contingent on performance milestones. The acquisition is expected to close in the summer of 2025, pending regulatory approvals. This move aims to enhance Cellebrite’s capabilities in digital investigations and smart device security. Corellium’s expertise in Arm-based virtualization software will support Cellebrite’s offerings in both public safety and private sector security solutions. Chris Wade, Corellium’s founder, will join Cellebrite as Chief Technology Officer, bringing valuable experience in vulnerability research and security testing. The acquisition is anticipated to expand Cellebrite’s total addressable market and extend its reach across various sectors. The financial impact on Cellebrite’s 2025 revenue and other metrics will be disclosed after the deal’s completion. J.P. Morgan Securities LLC acted as Corellium’s exclusive financial advisor in this transaction.
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