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Check Point Software Technologies Ltd. (NASDAQ: CHKP) is a global leader in network cybersecurity, specializing in delivering cutting-edge solutions to protect enterprises from a wide array of cyber threats. Founded in 1993 and headquartered in Tel Aviv, Israel, Check Point has grown to become the largest network cybersecurity vendor in the world, safeguarding over 100,000 organizations of all sizes across multiple industries.
Check Point's comprehensive security solutions encompass network, endpoint, cloud, and mobile security, fortified by its innovative AI-powered Infinity platform. This platform integrates technologies such as Check Point Harmony for workspace security, Check Point CloudGuard for cloud security, and Check Point Quantum for network security, all managed through Check Point Infinity Core Services for collaborative security operations.
Recent achievements include the launch of Quantum Spark next-generation firewalls designed to provide SMBs with robust AI-powered threat prevention and automated security management. These firewalls offer up to 5 Gbps of threat prevention performance and a 99.8% block rate against zero-day malware, phishing, and ransomware.
Financially, Check Point has demonstrated strong performance with impressive growth metrics. In the fourth quarter of 2023, the company achieved a 14% non-GAAP EPS growth and a non-GAAP operating margin of 45%, showcasing its efficient operational framework and strong market position. Additionally, the firm's Infinity platform has driven substantial subscription revenue growth, reflecting increasing customer adoption and trust.
Check Point's global footprint is supported by strategic partnerships and a robust ecosystem of Managed Service Providers (MSPs) that are crucial in delivering tailored cybersecurity solutions to small and medium-sized businesses (SMBs). By 2025, MSPs are expected to represent 40% of SMB cybersecurity expenditures, underscoring their vital role in the cybersecurity landscape.
In response to the evolving cyber threat landscape and the increasing complexity of securing AI-driven environments, Check Point has introduced AI Cloud Protect in collaboration with NVIDIA. This solution is designed to secure AI workloads in the cloud, providing comprehensive protection against sophisticated cyber threats.
As Check Point marks its 30th anniversary, the company is poised for continued innovation and growth. Founder and CEO Gil Shwed is transitioning to the role of Executive Chairman, ensuring a seamless succession process as the company embarks on its next chapter.
For more details on Check Point's latest products and financial performance, visit www.checkpoint.com.
Check Point Software Technologies (NASDAQ: CHKP) has been named a Leader in the 2024 Gartner Magic Quadrant for Email Security Platforms. The company's Harmony Email Collaboration solution has exceeded $100M in ARR, providing protection against advanced threats and integrating with the Check Point Infinity Platform.
According to Check Point's 2024 Security Report, email remains the primary entry point for infections, accounting for 88% of all harmful file distributions. The company reported a 75% increase in worldwide cyber-attacks in Q3 2024.
The solution offers innovative API-based email security, advanced threat detection, and sophisticated DLP & DMARC capabilities. As part of the Check Point Infinity Platform, it provides comprehensive security across data centers, networks, cloud services, branch offices, and remote users through a unified interface.
Check Point Software Technologies (NASDAQ: CHKP) announced a significant leadership transition, with founder Gil Shwed moving to the role of Executive Chairman of the Board of Directors and Nadav Zafrir appointed as the new Chief Executive Officer, effective December 16th, 2024.
Zafrir joins Check Point from Team8, a venture group focused on cybersecurity, where he served as co-founder and managing partner. His background includes establishing the IDF's Cyber Command and commanding Unit 8200, retiring as a Brigadier General. He also serves as a board member of SolarEdge Technologies and has board experience with 14 private cybersecurity companies.
Check Point Software Technologies (NASDAQ: CHKP) announced its Infinity XDR/XPR achieved a 100% detection rate in the 2024 MITRE ATT&CK® Evaluations. The solution detected all 57 applicable attack steps, with 56 detections at the technique level, demonstrating superior capabilities in threat detection and prevention.
The evaluation tested detection capabilities against complex ransomware attack sequences, specifically emulating tactics used by CL0P and Lockbit groups. Key achievements include 98% technique-level detection accuracy and perfect coverage across all testable attack scenarios, showcasing the solution's effectiveness against ransomware, data breaches, and endpoint threats.
Check Point Software (NASDAQ: CHKP) has been named a Leader and Fast Mover in GigaOm's latest Radar Report for Cloud-Native Application Protection Platforms (CNAPPs). The company's CloudGuard solution received top scores (5/5) in multiple features, standing out among 17 leading CNAPP solutions. The platform excels in advanced threat prevention, offering AI-generated remediation suggestions and real-time API security. According to Check Point's 2024 Cloud Security Report, 96% of respondents expressed concerns about managing emerging cloud risks. CloudGuard provides comprehensive protection across multi-cloud environments, featuring scalable security, seamless code security, and integration with DevOps processes.
Check Point Software Technologies has announced its new Quantum Firewall Software R82, featuring advanced AI-powered security innovations. The software introduces four new AI engines designed to block 99.8% of zero-day threats, protecting against sophisticated phishing and malware campaigns. Key improvements include 3X faster provisioning of virtual systems, enhanced operational simplicity, and implementation of post-quantum cryptography. The release comes in response to a 75% increase in global cyber-attacks and delivers over 50 new capabilities focused on threat prevention, datacenter operations, and network scalability.
SolarEdge Technologies announced significant changes to its Board of Directors. Avery More has been elected as Chairman of the Board, replacing Nadav Zafrir, who will remain as a board member. Additionally, Guy Gecht has been appointed as a new board member, replacing Tal Payne who stepped down after serving since the company's IPO in March 2015. Gecht, who will serve on both the Audit and Technology committees, brings extensive experience from his roles as former CEO of Electronics for Imaging and board positions at Logitech and Check Point Software Technologies.
Check Point Software Technologies (NASDAQ: CHKP) announced that shareholders approved all seven proposals at the 2024 Annual General Meeting, with approximately 87.6 million shares (79.6% of outstanding shares) voted. A key approval was the appointment of Dafna Gruber to the Board of Directors. Gruber, currently CFO of Netafim , brings extensive financial leadership experience from various public and private companies. She is a certified public accountant with a Bachelor's degree in Accounting and Economics from Tel Aviv University.
Check Point Software Technologies (NASDAQ: CHKP) announced that shareholders have approved all seven proposals presented at the 2024 Annual General Meeting. The meeting saw participation from approximately 87.6 million shares, representing 79.6% of outstanding shares as of the record date. The company expressed gratitude to shareholders for their support and confidence in the company and its employees.
Check Point Software reported strong Q3 2024 financial results with total revenues of $635 million, up 7% year-over-year. Security Subscriptions Revenues reached $277 million, showing a 12% increase. The company achieved GAAP EPS of $1.83 (up 4%) and Non-GAAP EPS of $2.25 (up 9%). During the quarter, Check Point acquired Cyberint for $186 million and repurchased 1.79 million shares for approximately $325 million. The company's cash balances stood at $2,873 million, with operating cash flow of $249 million.
Check Point Software Technologies has been recognized as one of the World's Best Employers by Forbes for the fifth consecutive year. The company, with over 6,500 employees worldwide, ranked #43 in the IT, Internet, Software & Services category and #613 overall out of 850 organizations.
The Forbes ranking is based on a comprehensive global survey of more than 300,000 employees from multinational corporations. Check Point's Chief HR Officer, Yiftah Yoffe, emphasized the company's commitment to creating an inclusive and innovation-minded culture.
Check Point has also been recognized by TIME as one of the World's Best Companies and recently released its 2023 ESG report, highlighting progress towards carbon neutrality by 2040, cyber security training initiatives, and dedication to diversity and inclusion.
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