Welcome to the Cellebrite Fourth Quarter and Full Year 2024 Financial Results Conference Call. At this time, all participants have been placed on a listen-only mode, and the floor will be open for your questions following the presentation. If you would like to ask a question at that time, please press star and one on your telephone keypad. If at any point your question has been answered, you may remove yourself from the queue by pressing star and two.
So others can hear your question clearly, we ask that you pick up your handset for best sound quality. Lastly, if you should require operator assistance today, please press star and zero. I would now like to turn the call over to your first speaker today, Mr. Andrew Kramer. Mr. Kramer, the floor is yours.
Thank you, Jim. And welcome everybody to Cellebrite's Fourth Quarter and Full Year 2024 Financial Results Call. I'm joined today at our headquarters just outside of Tel Aviv by our primary speakers, Tom Hogan, Cellebrite's Interim CEO, and Dana Gerner, Cellebrite's CFO. Ronnen Armon, our Chief Products and Technology Officer, and Marcus Jewell, our Chief Revenue Officer, will be available during the Q&A. There's a slide presentation that accompanies our prepared remarks. Please advance the slides in the webcast viewer to follow our commentary.
We will call out the slide number we're referring to in our remarks. The call is being recorded, and a replay of the recording will be made available on our website shortly after the call, along with a transcript of the event. Now let's start with slide number two, a copy of today's press release and financial statements, including the GAAP to non-GAAP reconciliations. This slide presentation and the quarterly financial tables and supplemental historical financial information for each quarter of the past three years are available on the Investor Relations website at investors.cellebrite.com.
Also, unless stated otherwise, our discussion of our Fourth Quarter and Full Year 2024 Financial metrics, as well as the financial metrics provided in our outlook, will be done on a non-GAAP basis only, and all historical comparisons are with the comparable periods in 2023. In addition, please note that statements made during this call that are not statements of historical fact constitute forward-looking statements. All forward-looking statements are subject to risks and uncertainties and other factors that could cause matters expressed or implied by those forward-looking statements not to occur.
They could also cause actual results to differ materially from historical results and/or from forecasts. Some of these forward-looking statements are discussed under the heading risk factors and elsewhere in the company's annual report on Form 20-F filed with the SEC on March 21, 2024, and as amended on April 12, 2024. The company does not undertake to update any forward-looking statements to reflect future events or circumstances. Slide number three provides an agenda of the topics that we'll cover on today's call. And with that being said, I'll now turn the call over to Tom Hogan. Tom?
Andy, thanks, and thanks everyone for joining us today. As most of you know, I assumed the role of Interim CEO effective the start of January. I'm pleased to share that Cellebrite delivered a solid fourth quarter to cap a strong 2024, in which we exceeded our original revenue and adjusted EBITDA targets and delivered at the higher end of our ARR expectations.
Dana will review our quarterly and annual financial performance in detail, but at a high level, slide four helps illustrate our continued success in expanding share of wallet across our install base and converting that top-line growth into year-over-year improvements in our profitability and free cash flow. On a full-year basis, we delivered a Rule of 50 performance in 2024 with 25% ARR growth and 25% adjusted EBITDA margins, which is also at the high end of our committed Rule of X range of 45-50.
Strong fundamental performance has once again resulted in another solid year of cash generation with $122 million in free cash flow in 2024. As a cloud-ready, AI-powered market leader with a true end-to-end platform for accelerating justice, the opportunity to help our customers make their communities safer while fueling further value creation at Cellebrite remains significant. With multiple macro tailwinds we believe showed no signs of fading, we enter 2025 with a commitment to sustain top-line growth and to generate attractive profitability and free cash flow.
Dana will share greater detail about our 2025 outlook in a few moments. In the meantime, I'd like to focus the balance of my commentary on key developments to start this year, as well as Cellebrite's top strategic priorities for 2025. Let's start on slide five with a topic that I'm guessing is top of mind for many of you: the status of our CEO search. As previously shared on our last quarterly call, we're working with a tier-one executive search firm that has the global remit to surface exceptional candidates.
Our priority remains a proven leader with SaaS, cloud, and AI software expertise, a global track record, prior exposure to the public sector, and preferably domain-specific expertise. Interest levels have been high given the unique position of Cellebrite as a high-growth market leader with equally strong cash flows and, I think, perhaps most importantly, a clearly mission-driven organization. We remain highly selective as we seek an executive whose profile is commensurate with the growth, impact, and quality of this company, and pleased with our progress thus far.
In the meantime, I jumped in as CEO on January 1, and I can promise you we're moving with continued pace and urgency. I've had the opportunity to lead three companies as the CEO and have held senior leadership positions at several other market-leading firms, but I can tell you with complete conviction there is no other organization I've been prouder or more pleased to lead. Every man and woman at Cellebrite, from the board down to our newest hires, is committed to accelerating our journey. Cellebrite is executing and is truly making the world a better, safer place.