TYSONS CORNER, Virginia and PETAH TIKVA, Israel, November 6, 2024 (GLOBE NEWSWIRE) — Cellebrite (NASDAQ: CLBT), a global leader in premier digital investigative solutions for the public and private sectors, today announced a planned leadership transition following Yossi Carmil’s decision to step down from his current role as CEO and member of the Board of Directors by December 31, 2024. The Board Board of Directors has launched a formal search for a new CEO, retaining the services of an executive search firm to advance this effort. Thomas E. Hogan, Cellebrite’s executive chairman, will serve as interim CEO following Carmil’s departure and until the search is completed and a new CEO joins Cellebrite.

“Cellebrite is indebted to Yossi Carmil. He is a rare CEO – one who has led the company from its beginnings as a small entrepreneurial start-up through a successful market shift, major product and business model transformations, a public listing on Nasdaq and multiple phases of growth to establish Cellebrite’s position as the leading platform for accelerating justice around the world,” Hogan said. “As evidenced by our strong financial performance and promising future outlook, Cellebrite is extremely well positioned to maintain its business momentum. »

Carmil joined Cellebrite in 2004 as the company’s fifth employee and became CEO a year later. Under Carmil’s leadership, Cellebrite grew from 18 people working in a small office in suburban Tel Aviv to more than 1,100 people, a dozen offices worldwide, and customers in more than 100 countries. Through groundbreaking innovation, Cellebrite has established itself as the leading provider of digital survey software for the public and private sectors and is trusted by approximately 7,000 customers worldwide. Most recently, Carmil has been instrumental in leading Cellebrite through a wide range of milestones, including Cellebrite’s 2021 IPO, completing the transition to a subscription-based business model, launching the platform Cellebrite AI-powered Case-to-Closure and consistent service delivery. strong and profitable growth. As a result, the Company’s market valuation has doubled since its IPO to approximately $4 billion.

“Leading Cellebrite as CEO for the past 19 years has been an incredible journey and the company’s success would not have been possible without the support of our customers, partners and investors, as well as countless contributions from our hands. -talented work,” Carmil said. “Cellebrite has an incredibly bright future and the time is right for a new leader to advance our mission and take the company to the next level.” We have assembled a strong management team, an exciting technology roadmap and a compelling strategic plan aimed at driving value for all key stakeholders. I am confident in Cellebrite’s strategic direction and its ability to capitalize on the opportunities ahead.

Hogan joined Cellebrite as Executive Chairman in August 2023 and has worked closely with Carmil and the entire Cellebrite leadership team to help advance the company’s strategy and operational execution. Hogan is a proven technology and software executive with a remarkable 40+ year track record of delivering exceptional shareholder returns, customer impact and employee growth. Hogan’s experience spans more than a decade as a private and public software CEO, as well as in leadership roles ranging from growth-stage private companies to large-cap public companies.

About Cellebrite
Cellebrite’s (Nasdaq: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in digital investigative solutions for the public and private sectors, enabling organizations to master the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and businesses around the world, Cellebrite’s Digital Investigation platform and solutions transform the way customers collect, review, analyze and manage data for legally-based investigations sanctioned. To learn more, visit us at www.cellebrite.com or follow us on Twitter at @Cellebrite.

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Caution Regarding Forward-Looking Statements
This document includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast”, “expect” intention to”, “seek”, “target”, “anticipate”, “want”, “appear”, “approximate”, “forecast”, “could”, “possible”, “potential”, “believe”, “could”, “predict”, “should”, “could”, “continue”, “expect”, “estimate”, “could”, “plan”, “outlook”, “future” and “project” and other similar expressions that predict, project or indicate future events or trends or which are not statements historical questions. These forward-looking statements include comments related to the timing associated with the CEO succession plan as well as the following statements: We have assembled a strong management team, an exciting technology roadmap and a compelling strategic plan that aims to drive value creation for all. key stakeholders; and I am confident in Cellebrite’s strategic direction and ability to capitalize on the opportunities ahead – I look forward to seeing everything Cellebrite accomplishes in the years to come. These forward-looking statements, including those regarding comments associated with Cellebrite’s future performance, strategies, prospects and other aspects of Cellebrite’s business, are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results to differ materially from those indicated in these forward-looking statements. These factors include, but are not limited to: Cellebrite’s ability to keep pace with technological advances and evolving industry standards; Cellebrite’s material dependence on the purchase, acceptance and use of its solutions by law enforcement and government agencies; real or perceived errors, failures, defects or bugs in Cellebrite’s DI solutions; Cellebrite’s inability to maintain the productivity of sales and marketing personnel, including with respect to hiring, onboarding and retention of personnel; intense competition in all Cellebrite markets; inadvertent or deliberate misuse of Cellebrite solutions; the inability to effectively manage its growth; Cellebrite’s ability to introduce new solutions and add-on modules; its dependence on its customers renewing their subscriptions; the low volume of business achieved by Cellebrite via e-commerce; risks linked to the use of artificial intelligence; the risk of requiring additional capital to support the growth of its business; risks associated with higher costs or unavailability of materials used to create components of its hardware products; fluctuations in foreign currency exchange rates; long sales cycle for certain Cellebrite solutions; short-term decline in new or renewed agreements; risks associated with failure to retain qualified personnel and senior management; the security of Cellebrite’s operations and the integrity of its software solutions; risks associated with negative publicity related to Cellebrite’s activities and the use of its products; risks related to Cellebrite’s intellectual property; the regulatory constraints to which Cellebrite is subject; risks associated with Cellebrite’s operations in Israel, including the ongoing war between Israel and Hamas and the risk of greater regional conflict; risks associated with the different corporate governance requirements applicable to Israeli companies and the risks associated with being a foreign private issuer and an emerging growth company; market volatility in the price of Cellebrite’s stock; amend tax laws and regulations; risks associated with joint ventures, joint ventures, partnerships and strategic initiatives; risks associated with Cellebrite’s significant international operations; risks associated with Cellebrite’s failure to comply with anti-corruption, trade compliance, anti-money laundering and economic sanctions laws and regulations; risks related to the adequacy of Cellebrite’s existing systems, processes, policies, procedures, internal controls and personnel for Cellebrite’s current and future operations and reporting needs; and other factors, risks and uncertainties set forth in the section entitled “Risk Factors” in Cellebrite’s Annual Report on Form 20-F filed with the SEC on March 21, 2024 and as amended on April 12, 2024, and in d Other documents filed by Cellebrite with the United States Securities and Exchange Commission (“SEC”), available free of charge at www.sec.gov. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made, in this communication or elsewhere. Cellebrite undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

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