In this episode of Yet Another Value Podcast, host Andrew Walker is joined by Orel Levy of Anek Capital to discuss Cellebrite (ticker: CLBT). The conversation explores Cellebrite’s digital forensics tools, from cracking phones to managing and analyzing data. Orel provides a comprehensive overview of Cellebrite's business model, competitive positioning, and potential for growth. Topics include their shift to a SaaS model, the federal sector's role, AI integration, competitive threats like Palantir, and the company’s broader strategic outlook. They also touch on risks, including execution challenges, management turnover, and potential M&A speculation. Tune in to understand why Cellebrite is at the intersection of technology, law enforcement, and investing.

If you're interested in the CLBT trata call mentioned during the podcast, see: https://www.trytrata.com/clbt____________________________________________________________

[00:00:00 ] Podcast intro and sponsor mention

[00:03:13 ] Cellebrite's history and pivot

[00:06:08 ] Phone cracking explained

[00:07:18 ] R&D moat and customer stickiness

[00:08:40 ] Valuation versus growth peers

[00:09:52 ] SPAC history and misunderstood model

[00:13:41 ] iPhone cracking and misconceptions[00:15:03 ] Apple, Google cooperation risk

[00:16:29 ] Growth potential and market size

[00:21:27 ] Management turnover and CEO plans

[00:27:38 ] Sale speculation and strategic fit

[00:30:49 ] Mission-critical usage example

[00:31:51 ] Federal budget and deployments

[00:33:52 ] Event-driven budget growth potential

[00:37:47 ] Guardian, Pathfinder, cloud ramping

[00:42:58 ] Long-term risks: execution concerns

[00:50:43 ] AI: neutral impact for now

[00:53:39 ] Suncorp ownership and sale pressure

[00:57:46 ] Ethics and private sector risks

[01:00:00 ] Wrap-up and future conversations

Links:If you're interested⁠ in the CLBT trata call mentioned during the podcast⁠, see: https://www.trytrata.com/clbt

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