Stock Market Today, Aug. 13: Cellebrite Shares Plummet 29% After Missing Earnings, Cutting 2026 Revenue Guidance
Cellebrite DI (NASDAQ:CLBT), a digital forensics and investigative intelligence software provider, closed at $10.80, down 29.18%. The stock tumbled after Cellebrite cut full-year revenue guidance and reported a quarterly earnings miss. Investors are watching whether the new CEO can stabilize execution and margin trends. Trading volume reached 36.5M shares, coming in about 1355% above its three-month average of 2.5M shares. Cellebrite DI IPO'd in 2020 and has grown 12% since going public.
How the markets moved today
S&P 500 (SNPINDEX:^GSPC) rose 0.65% to 7,799, and the Nasdaq Composite (NASDAQINDEX:^IXIC) gained 0.82% to 26,805. In digital investigation and intelligence software for law enforcement and enterprise security, Axon Enterprise (NASDAQ:AXON) closed at $615.59, up 2.64%, while NICE (NASDAQ:NICE) finished at $105.25, higher by 6.79%.
What this means for investors
Cellebrite grew sales by 16% in Q2, but these figures fell short of analysts’ expectations, while EPS was in line. The real issues for Cellebrite were that management lowered guidance to 19.5% sales growth in Q3 and 15% growth in 2026, and that net income dipped compared to last year.
Typically, for growth stocks, the market may be willing to sacrifice slowing growth in the name of higher profits (or vice versa), but both, at the same time, prompt sell-offs like we saw today.
That said, the company announced that Shiven Ramji would take over as CEO after serving as President of Technology and Products for Cellebrite since May. Previously, he was the President of Okta’s ID business, so new eyes may help spark a turnaround for the stock’s thus-far underwhelming run since its 2021 IPO. Another silver lining for CLBT shareholders is that its Guardian, Pathfinder & Corellium growth products more than doubled their sales year over year, and the company began monetizing its Genesis AI solution in Q2.
Trading somewhere around 30 times FCF after including stock-based compensation, I’d rather see a rebound in growth before I added heavily to CLBT stock, although I love its leadership position in its digital forensics niche.
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Josh Kohn-Lindquist has positions in Axon Enterprise and Cellebrite. The Motley Fool has positions in and recommends Axon Enterprise, Cellebrite, Nice, and Okta. The Motley Fool has a disclosure policy.
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