Fidelity Wise Origin Bitcoin Fund amends trust agreement to allow in-kind share transactions
TYSONS CORNER, Va. - The U.S. Department of Justice will serve as the official sponsoring agency for Cellebrite (NASDAQ:CLBT), a $3.4 billion digital investigation solutions provider with impressive 84% gross margins and strong revenue growth of 22%, in its pursuit of FedRAMP High authorization for its government cloud platform, the company announced Wednesday. According to InvestingPro data, the company maintains a solid financial position with more cash than debt on its balance sheet.
The sponsorship represents a critical step for Cellebrite Government Cloud (CGC) to advance from its current FedRAMP High Ready designation to In Process status, moving the platform closer to receiving full Authorization to Operate (ATO). While the company is not currently profitable, InvestingPro analysts project a return to profitability this year, with 8 additional key insights available to subscribers.
Cellebrite initially announced its intention to pursue FedRAMP authorization in 2024. Earlier this year, the company’s government cloud platform was reviewed by a Third-Party Assessment Organization and subsequently granted FedRAMP High Ready status by the FedRAMP Program Management Office.
"We are grateful to the Justice Department for entrusting us to implement their workflow on the Cellebrite Government Cloud," said Erik Sachwitz, General Manager of Cellebrite Federal Solutions, Inc., in the press release.
The Cellebrite Government Cloud will launch with two of the company’s digital investigative tools: Cellebrite Inseyets, providing access to digital forensics capabilities, and Cellebrite Guardian, designed for collaborative digital evidence review and storage.
The cloud-based platform aims to allow federal agencies and attorneys secure access to evidence remotely while maintaining chain of custody requirements. Cellebrite noted it will continue to offer on-premises, hybrid and offline solutions alongside its cloud offerings.
Cellebrite specializes in digital investigative solutions used by law enforcement, intelligence agencies, and businesses for digital evidence collection and analysis in legally sanctioned investigations. The company maintains a healthy liquidity position with a current ratio of 1.82, demonstrating strong operational stability. Discover comprehensive analysis and detailed metrics in the Pro Research Report, available exclusively on InvestingPro.
In other recent news, Cellebrite has announced the appointment of David Barter as its new Chief Financial Officer, following the retirement of Dana Gerner. Gerner, who has been with the company since 2014, will remain in an advisory role until Cellebrite releases its second-quarter 2025 financial results. In another significant development, Cellebrite has agreed to acquire Corellium, a company known for its Arm-based virtualization software, for $170 million in cash. The deal includes an additional $30 million contingent on performance milestones and is expected to close in the summer of 2025, pending regulatory approvals. This acquisition aims to bolster Cellebrite’s digital investigation and smart device security capabilities, benefiting sectors such as public safety, defense, and intelligence. Corellium’s technology enables users to simulate and interact with virtual devices, which aids in vulnerability identification and DevSecOps processes. These recent developments highlight Cellebrite’s strategic moves to enhance its financial leadership and expand its technological offerings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.