Episode August 1, 2025 1 hr 0 min

Anek Capital's Orel Levy's Cellebrite Thesis $CLBT

From Yet Another Value Podcast Andrew Walker

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