Check Point Software Reports Fourth Quarter and 2024 Full Year Results
Check Point Software (NASDAQ: CHKP) has released its Q4 and full-year 2024 financial results, showing strong growth across key metrics. Q4 calculated billings increased 11% to $959 million, with total revenues up 6% to $704 million. The company's Remaining Performance Obligation reached $2.5 billion, marking a 12% year-over-year increase.
For full-year 2024, calculated billings grew 9% to $2,658 million, while total revenues increased 6% to $2,565 million. Security Subscriptions Revenues showed particularly strong growth, up 13% to $1,104 million. The company maintained strong profitability with Non-GAAP EPS increasing 9% to $9.16.
The company announced leadership changes, with founder Gil Shwed transitioning to Executive Chairman and Nadav Zafrir assuming the CEO role. Additionally, Itai Greenberg was appointed as Chief Revenue Officer, and Roi Karo joined as Chief Strategy Officer. The company continued its share repurchase program, buying back approximately 7.7 million shares for $1,300 million in 2024.
Check Point Software (NASDAQ: CHKP) ha rilasciato i risultati finanziari per il quarto trimestre e l'intero anno 2024, mostrando una forte crescita in diversi indicatori chiave. Le fatturazioni calcolate per il Q4 sono aumentate dell'11% a $959 milioni, con ricavi totali in crescita del 6% a $704 milioni. L'Obbligo di Prestazione Rimanente dell'azienda ha raggiunto i $2,5 miliardi, segnando un incremento del 12% rispetto all'anno precedente.
Per l'intero anno 2024, le fatturazioni calcolate sono cresciute del 9% a $2.658 milioni, mentre i ricavi totali sono aumentati del 6% a $2.565 milioni. I ricavi da abbonamenti per la sicurezza hanno mostrato una crescita particolarmente forte, in aumento del 13% a $1.104 milioni. L'azienda ha mantenuto una forte redditività con l'EPS Non-GAAP in aumento del 9% a $9.16.
L'azienda ha annunciato cambiamenti nella leadership, con il fondatore Gil Shwed che passa a Presidente Esecutivo e Nadav Zafrir che assume il ruolo di CEO. Inoltre, Itai Greenberg è stato nominato Chief Revenue Officer e Roi Karo è entrato come Chief Strategy Officer. L'azienda ha continuato il suo programma di riacquisto di azioni, riacquistando circa 7,7 milioni di azioni per $1.300 milioni nel 2024.
Check Point Software (NASDAQ: CHKP) ha publicado sus resultados financieros del cuarto trimestre y del año completo 2024, mostrando un fuerte crecimiento en varias métricas clave. Las facturaciones calculadas para el Q4 aumentaron un 11% a $959 millones, con ingresos totales en alza del 6% a $704 millones. La Obligación de Rendimiento Restante de la empresa alcanzó los $2.5 mil millones, marcando un aumento del 12% en comparación con el año anterior.
Para el año completo 2024, las facturaciones calculadas crecieron un 9% a $2,658 millones, mientras que los ingresos totales aumentaron un 6% a $2,565 millones. Los ingresos por suscripciones de seguridad mostraron un crecimiento particularmente sólido, aumentando un 13% a $1,104 millones. La empresa mantuvo una fuerte rentabilidad con un EPS No-GAAP en aumento del 9% a $9.16.
La empresa anunció cambios en la dirección, con el fundador Gil Shwed pasando a Presidente Ejecutivo y Nadav Zafrir asumiendo el rol de CEO. Además, Itai Greenberg fue nombrado Director de Ingresos, y Roi Karo se unió como Director de Estrategia. La empresa continuó su programa de recompra de acciones, recomprando aproximadamente 7.7 millones de acciones por $1,300 millones en 2024.
체크포인트 소프트웨어 (NASDAQ: CHKP)는 2024년 4분기 및 연간 재무 결과를 발표하며 주요 지표에서 강력한 성장을 보여주었습니다. 4분기 계산된 청구액은 11% 증가한 9억 5900만 달러를 기록했으며, 총 수익은 6% 증가한 7억 400만 달러에 달했습니다. 회사의 남은 성과 의무는 25억 달러에 도달하며, 전년 대비 12% 증가했습니다.
2024년 전체 연도에 대해, 계산된 청구액은 9% 성장하여 26억 5800만 달러에 도달했으며, 총 수익은 6% 증가한 25억 6500만 달러를 기록했습니다. 보안 구독 수익은 특히 강한 성장을 보여 13% 증가한 11억 400만 달러에 달했습니다. 회사는 비 GAAP EPS가 9% 증가하여 9.16달러로 유지하며 강력한 수익성을 유지했습니다.
회사는 리더십 변화를 발표하며, 설립자 길 슈웨드가 CEO에서 이사회 의장으로 이동하고 나답 자프리르가 CEO 역할을 맡게 되었습니다. 또한 이타이 그린버그가 수익 책임자로 임명되었고, 로이 카로가 전략 책임자로 합류했습니다. 회사는 2024년 동안 약 770만 주를 13억 달러에 재매입하는 주식 재매입 프로그램을 계속 진행했습니다.
Check Point Software (NASDAQ: CHKP) a publié ses résultats financiers pour le quatrième trimestre et l'année 2024, montrant une forte croissance dans plusieurs indicateurs clés. Les facturations calculées pour le T4 ont augmenté de 11 % pour atteindre 959 millions de dollars, tandis que les revenus totaux ont progressé de 6 % à 704 millions de dollars. L'Obligation de Performance Résiduelle de l'entreprise a atteint 2,5 milliards de dollars, marquant une augmentation de 12 % par rapport à l'année précédente.
Pour l'année entière 2024, les facturations calculées ont crû de 9 % pour atteindre 2 658 millions de dollars, tandis que les revenus totaux ont augmenté de 6 % pour atteindre 2 565 millions de dollars. Les revenus des abonnements de sécurité ont montré une croissance particulièrement forte, augmentant de 13 % pour atteindre 1 104 millions de dollars. L'entreprise a maintenu une forte rentabilité avec un BPA Non-GAAP en hausse de 9 % à 9,16 dollars.
L'entreprise a annoncé des changements dans la direction, avec le fondateur Gil Shwed passant à Président Exécutif et Nadav Zafrir prenant le poste de PDG. De plus, Itai Greenberg a été nommé Directeur des Revenus, et Roi Karo a rejoint en tant que Directeur de la Stratégie. L'entreprise a poursuivi son programme de rachat d'actions, rachetant environ 7,7 millions d'actions pour 1,3 milliard de dollars en 2024.
Check Point Software (NASDAQ: CHKP) hat seine Finanzzahlen für das vierte Quartal und das Gesamtjahr 2024 veröffentlicht, die ein starkes Wachstum in mehreren wichtigen Kennzahlen zeigen. Die berechneten Rechnungen für das Q4 stiegen um 11% auf 959 Millionen Dollar, während die Gesamterlöse um 6% auf 704 Millionen Dollar zunahmen. Die verbleibende Leistungspflicht des Unternehmens erreichte 2,5 Milliarden Dollar, was einem Anstieg von 12% im Vergleich zum Vorjahr entspricht.
Für das Gesamtjahr 2024 wuchsen die berechneten Rechnungen um 9% auf 2.658 Millionen Dollar, während die Gesamterlöse um 6% auf 2.565 Millionen Dollar zunahmen. Die Einnahmen aus Sicherheitsabonnements zeigten ein besonders starkes Wachstum mit einem Plus von 13% auf 1.104 Millionen Dollar. Das Unternehmen hielt eine starke Rentabilität mit einem Non-GAAP EPS, das um 9% auf 9,16 Dollar anstieg.
Das Unternehmen kündigte Änderungen in der Führung an, wobei der Gründer Gil Shwed zum Executive Chairman wechselte und Nadav Zafrir die Rolle des CEO übernahm. Darüber hinaus wurde Itai Greenberg als Chief Revenue Officer ernannt und Roi Karo trat als Chief Strategy Officer bei. Das Unternehmen setzte sein Aktienrückkaufprogramm fort und kaufte im Jahr 2024 etwa 7,7 Millionen Aktien für 1,3 Milliarden Dollar zurück.
- Q4 calculated billings increased 11% YoY to $959 million
- Security Subscriptions Revenues grew 13% to $1,104 million
- Full-year Non-GAAP EPS increased 9% to $9.16
- Strong cash position of $2,784 million
- 8% revenue growth in core Quantum Force appliance business
- Cash balances decreased from $2,960M to $2,784M YoY
- Operating expenses increased as reflected in lower operating margin
Insights
Check Point's Q4 and FY2024 results reveal a company successfully balancing growth and profitability while navigating a significant leadership transition. The 11% growth in calculated billings to
The appointment of Nadav Zafrir as CEO marks a strategic pivot, with his focus on customer-facing initiatives and market share expansion indicating a potential shift from the company's traditionally conservative approach. The restructuring of the executive team, particularly the creation of a dedicated Chief Revenue Officer role, signals an increased emphasis on accelerating top-line growth.
Capital allocation remains disciplined, with the company maintaining a robust balance sheet (
The 13% growth in security subscription revenues to
However, the overall revenue growth of
TEL AVIV, Israel, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Check Point® Software Technologies Ltd. (NASDAQ: CHKP), today announced its financial results for the fourth quarter and full year ended December 31, 2024.
Fourth Quarter 2024 Highlights
- Calculated Billings* reached
$959 million , an 11 percent increase year over year - Remaining Performance Obligation (RPO)**:
$2.5 billion , a 12 percent increase year over year - Total Revenues:
$704 million , a 6 percent increase year over year - Product, License & Subscription Revenues:
$463 million , a 9 percent increase year over year - GAAP Operating Income:
$254 million , representing 36 percent of revenues - Non-GAAP Operating Income:
$306 million , representing 44 percent of revenues - GAAP EPS:
$2.30 , a 7 percent increase year over year - Non-GAAP EPS:
$2.70 , a 5 percent increase year over year
Full Year 2024 Highlights
- Calculated Billings* reached
$2,658 million , a 9 percent increase year over year - Total Revenues:
$2,565 million , a 6 percent increase year over year - Security Subscriptions Revenues:
$1,104 million , a 13 percent increase year over year - GAAP EPS:
$7.46 , a 5 percent increase year over year - Non-GAAP EPS:
$9.16 , a 9 percent increase year over year
“We delivered exceptional fourth quarter results, a wonderful way to transition into my new Executive Chairman role. The success in the quarter was underscored by strong 8 percent revenue growth in our core Quantum Force appliance business, our industry leading Harmony E-mail solution, and expanded adoption of the Infinity platform,” said, Gil Shwed, Founder and Chairman of the Board of Check Point Software. “I would like to thank Check Point’s customers, partners, and the Global Check Point Team for their contributions to our continued success. I look forward to Check Point achieving new heights under the leadership of our new Chief Executive Officer, Nadav Zafrir,” concluded, Mr. Shwed.
“I would like to thank Gil and the Board for the opportunity to lead such an exemplary organization. 2024 was a successful year and provides a great springboard for 2025 and beyond,” stated Nadav Zafrir, Chief Executive Officer of Check Point Software. “My first one hundred days are focused on meeting with customers and partners to understand the key challenges they face in today’s unprecedented threat environment. From my conversations so far, I have become increasingly confident that Check Point is uniquely positioned to address the cybersecurity demands of enterprises worldwide. Check Point’s future is bright, and we are focused on driving market share expansion and taking growth to the next levels,” stated Mr. Zafrir.
“After a successful fourth quarter and 2024, we are starting 2025 with an expanded executive team to balance our corporate and Go-To-Market leadership roles, and bring even more attention to customer facing functions,” said Nadav Zafrir, CEO of Check Point Software. Among the new roles joining the executive team is that of Chief Revenue Officer. Itai Greenberg will serve in this role, driving our global top-line revenue across our platform worldwide. He brings more than two decades of experience in product management and sales roles, having most recently served as Check Point’s Chief Strategy Officer and head of the Cloud and SASE businesses. Replacing Itai in the role of Chief Strategy Officer, we welcome Roi Karo to Check Point. Roi brings more than two decades of expertise in security, AI, and big data with a focus on strategy and planning.
In conclusion, after three successful years as Check Point’s President, Rupal Hollenbeck has chosen to conclude her tenure at the end of the first quarter and will remain available to support the smooth transition of the new executive team members. “I want to thank Rupal for her incredible work and dedication over the last three years during which the Go-To-Market organizations composition, reach, and focus was transformed all around the world. We wish her all the best in her future endeavors,” said Nadav Zafrir, CEO of Check Point Software. “We welcome Itai and Roi into their new executive team roles. I am excited about the opportunities before us, and I am more confident than ever that the best of Check Point is yet to come,” concluded, Mr. Zafrir.
Financial Highlights Commentary
- Cash Balances, Marketable Securities & Short-Term Deposits:
$2,784 million as of December 31, 2024, compared to$2,960 million as of December 31, 2023. The decrease in cash is primarily a result of$186 million net of cash consideration utilized for Cyberint Ltd. acquisition in 2024. - Share Repurchase Program: During the fourth quarter of 2024, the company repurchased approximately 1.7 million shares at a total cost of approximately
$325 million . During full year 2024, we repurchased approximately 7.7 million shares at a total cost of approximately$1,300 million . - Cash Flow: Cash flow from operations was
$1,059 , which included$18 million of costs related to our currency hedging transactions, and acquisition-related costs were insignificant. This compares to$1,035 million in 2023, which included$39 million of costs related to our currency hedging transactions and$25 million in costs related to acquisitions.
For information regarding the non-GAAP financial measures discussed in this release, as well as a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures, please see “Use of Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Information.”
Conference Call and Webcast Information
Check Point will host a conference call with the investment community on January 30, 2025, at 8:30 AM ET/5:30 AM PT. To listen to the live webcast or replay, please visit the website www.checkpoint.com/ir.
First Quarter 2025 Investor Conference Participation Schedule
- Wolfe Research March Madness 1x1 Conference
February 27, 2025, NY, NY – 1x1 meetings - Susquehanna Technology Conference
February 27, 2025, NY, NY – 1x1 meetings - Raymond James 2025 Institutional Investor Conference
March 3, 2025, Orlando, FL – Fireside & 1x1 meetings - Morgan Stanley 2025 Media, Telecommunications & Technology Conference
March 4, 2025, SF, CA – Fireside & 1x1 meetings - Roth Capital Partners 37th Annual Conference
March 17-18, 2025, Dana Point, CA – 1x1 meetings
Members of Check Point's management team are expected to present at these conferences and discuss the latest company strategies and initiatives. Check Point’s conference presentations are expected to be available via webcast on the company's web site. To hear these presentations and access the most updated information please visit the company's web site at www.checkpoint.com/ir. The schedule is subject to change.
Follow Check Point via:
Twitter: http://www.twitter.com/checkpointsw
Facebook: https://www.facebook.com/checkpointsoftware
Blog: http://blog.checkpoint.com
YouTube: http://www.youtube.com/user/CPGlobal
LinkedIn: https://www.linkedin.com/company/check-point-software-technologies
About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (http://www.checkpoint.com) is a leading AI-powered, cloud-delivered cyber security platform provider protecting over 100,000 organizations worldwide. Check Point leverages the power of AI everywhere to enhance cyber security efficiency and accuracy through its Infinity Platform, with industry-leading catch rates enabling proactive threat anticipation and smarter, faster response times. The comprehensive platform includes cloud-delivered technologies consisting of Check Point Harmony to secure the workspace, Check Point CloudGuard to secure the cloud, Check Point Quantum to secure the network, and Check Point Infinity Core Services for collaborative security operations and services.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, statements related to our management transitions, expectations regarding our products and solutions, and our participation in investor conferences and Check Point Experience (CPX) events and other events during the first quarter of 2025. Our expectations and beliefs regarding these matters may not materialize, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected. These risks include our ability to continue to develop platform capabilities and solutions; customer acceptance and purchase of our existing solutions and new solutions; the market for IT security continuing to develop; competition from other products and services; appointments and departures of our executive officers; and general market, political, economic, and business conditions, including acts of terrorism or war. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 2, 2024. The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking statements, except as required by law.
Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, Check Point uses non-GAAP measures of operating income, net income and earnings per diluted share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets and acquisition related expenses and the related tax affects. Check Point’s management believes the non-GAAP financial information provided in this release is useful to investors’ understanding and assessment of Check Point’s ongoing core operations and prospects for the future. Historically, Check Point has also publicly presented these supplemental non-GAAP financial measures to assist the investment community to see the company “through the eyes of management,” and thereby enhance understanding of its operating performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures discussed in this press release to the most directly comparable GAAP financial measures is included with the financial statements contained in this press release. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such has determined that it is important to provide this information to investors.
* Calculated Billings is a measure that we defined as total revenues recognized in accordance with GAAP plus the change in Total Deferred Revenues during the period
** Remaining Performance Obligation (RPO) is a measure that represents the total value of non-cancellable contracted products and/or services that are yet to be recognized as Revenue as of the period
| CHECK POINT SOFTWARE TECHNOLOGIES LTD. CONSOLIDATED STATEMENT OF INCOME | |||||||||||
| (Unaudited, in millions, except per share amounts) | |||||||||||
| Three Months Ended | Year Ended | ||||||||||
| December 31, | December 31, | ||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||
| Revenues: | |||||||||||
| Products and licenses | $ | 170.6 | $ | 158.3 | $ | 507.9 | $ | 497.4 | |||
| Security subscriptions | 292.2 | 265.8 | 1,104.2 | 981.2 | |||||||
| Total revenues from products and security subscriptions | 462.8 | 424.1 | 1,612.1 | 1,478.6 | |||||||
| Software updates and maintenance | 240.9 | 239.4 | 952.9 | 936.1 | |||||||
| Total revenues | 703.7 | 663.5 | 2,565.0 | 2,414.7 | |||||||
| Operating expenses: | |||||||||||
| Cost of products and licenses | 29.6 | 28.0 | 97.8 | 99.3 | |||||||
| Cost of security subscriptions | 19.7 | 17.2 | 72.6 | 57.0 | |||||||
| Total cost of products and security subscriptions | 49.3 | 45.2 | 170.4 | 156.3 | |||||||
| Cost of Software updates and maintenance | 33.4 | 30.5 | 123.9 | 112.3 | |||||||
| Amortization of technology | 7.6 | 5.8 | 25.0 | 14.0 | |||||||
| Total cost of revenues | 90.3 | 81.5 | 319.3 | 282.6 | |||||||
| Research and development | 101.1 | 100.0 | 394.9 | 368.9 | |||||||
| Selling and marketing | 232.1 | 200.5 | 862.9 | 747.1 | |||||||
| General and administrative | 25.9 | 29.7 | 111.9 | 117.0 | |||||||
| Total operating expenses | 449.4 | 411.7 | 1,689.0 | 1,515.6 | |||||||
| Operating income | 254.3 | 251.8 | 876.0 | 899.1 | |||||||
| Financial income, net | 24.5 | 18.4 | 96.1 | 76.5 | |||||||
| Income before taxes on income | 278.8 | 270.2 | 972.1 | 975.6 | |||||||
| Taxes on income (tax benefit) | 21.3 | 21.0 | 126.4 | 135.3 | |||||||
| Net income | $ | 257.5 | $ | 249.2 | $ | 845.7 | $ | 840.3 | |||
| Basic earnings per share | $ | 2.36 | $ | 2.19 | $ | 7.65 | $ | 7.19 | |||
| Number of shares used in computing basic earnings per share | 109.2 | 114.0 | 110.6 | 116.9 | |||||||
| Diluted earnings per share | $ | 2.30 | $ | 2.15 | $ | 7.46 | $ | 7.10 | |||
| Number of shares used in computing diluted earnings per share | 112.1 | 115.9 | 113.4 | 118.3 | |||||||
| CHECK POINT SOFTWARE TECHNOLOGIES LTD. SELECTED FINANCIAL METRICS (Unaudited, in millions, except per share amounts) | ||||||||||||
| Three Months Ended | Year Ended | |||||||||||
| December 31, | December 31, | |||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||
| Revenues | $ | 703.7 | $ | 663.5 | $ | 2,565.0 | $ | 2,414.7 | ||||
| Non-GAAP operating income | 306.4 | 308.6 | 1,097.5 | 1,079.1 | ||||||||
| Non-GAAP net income | 303.2 | 298.5 | 1,039.1 | 997.1 | ||||||||
| Diluted Non-GAAP Earnings per share | $ | 2.70 | $ | 2.57 | $ | 9.16 | $ | 8.42 | ||||
| Number of shares used in computing diluted Non-GAAP Earnings per share | 112.1 | 115.9 | 113.4 | 118.3 | ||||||||
| CHECK POINT SOFTWARE TECHNOLOGIES LTD. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION (Unaudited, in millions, except per share amounts) | ||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| GAAP operating income | $ | 254.3 | $ | 251.8 | $ | 876.0 | $ | 899.1 | ||||||||
| Stock-based compensation (1) | 29.8 | 39.9 | 149.7 | 145.3 | ||||||||||||
| Amortization of intangible assets and acquisition related expenses (2) | 22.3 | 16.9 | 71.8 | 34.7 | ||||||||||||
| Non-GAAP operating income | $ | 306.4 | $ | 308.6 | $ | 1,097.5 | $ | 1,079.1 | ||||||||
| GAAP net income | $ | 257.5 | $ | 249.2 | $ | 845.7 | $ | 840.3 | ||||||||
| Stock-based compensation (1) | 29.8 | 39.9 | 149.7 | 145.3 | ||||||||||||
| Amortization of intangible assets and acquisition related expenses (2) | 22.3 | 16.9 | 71.8 | 34.7 | ||||||||||||
| Taxes on the above items (3) | (6.4 | ) | (7.5 | ) | (28.1 | ) | (23.2 | ) | ||||||||
| Non-GAAP net income | $ | 303.2 | $ | 298.5 | $ | 1,039.1 | $ | 997.1 | ||||||||
| Diluted GAAP Earnings per share | $ | 2.30 | $ | 2.15 | $ | 7.46 | $ | 7.10 | ||||||||
| Stock-based compensation (1) | 0.26 | 0.34 | 1.32 | 1.23 | ||||||||||||
| Amortization of intangible assets and acquisition related expenses (2) | 0.20 | 0.15 | 0.63 | 0.29 | ||||||||||||
| Taxes on the above items (3) | (0.06 | ) | (0.07 | ) | (0.25 | ) | (0.20 | ) | ||||||||
| Diluted Non-GAAP Earnings per share | $ | 2.70 | $ | 2.57 | $ | 9.16 | $ | 8.42 | ||||||||
| Number of shares used in computing diluted Non-GAAP Earnings per share | 112.1 | 115.9 | 113.4 | 118.3 | ||||||||||||
| (1) Stock-based compensation: | ||||||||||||||||
| Cost of products and licenses | $ | 0.1 | $ | 0.1 | $ | 0.4 | $ | 0.4 | ||||||||
| Cost of software updates and maintenance | 2.0 | 2.4 | 8.2 | 7.3 | ||||||||||||
| Research and development | 10.8 | 14.2 | 53.1 | 48.7 | ||||||||||||
| Selling and marketing | 12.0 | 15.2 | 58.2 | 56.3 | ||||||||||||
| General and administrative | 4.9 | 8.0 | 29.8 | 32.6 | ||||||||||||
| 29.8 | 39.9 | 149.7 | 145.3 | |||||||||||||
| (2) Amortization of intangible assets and acquisition related expenses: | ||||||||||||||||
| Amortization of technology-cost of revenues | 7.6 | 5.8 | 25.0 | 14.0 | ||||||||||||
| Research and development | 1.7 | 2.0 | 6.5 | 7.0 | ||||||||||||
| Selling and marketing | 13.0 | 9.1 | 40.3 | 13.7 | ||||||||||||
| 22.3 | 16.9 | 71.8 | 34.7 | |||||||||||||
| (3) Taxes on the above items | (6.4 | ) | (7.5 | ) | (28.1 | ) | (23.2 | ) | ||||||||
| Total, net | $ | 45.7 | $ | 49.3 | $ | 193.4 | $ | 156.8 | ||||||||
| CHECK POINT SOFTWARE TECHNOLOGIES LTD. CONDENSED CONSOLIDATED BALANCE SHEET DATA | |||||||
| (In millions) | |||||||
| ASSETS | |||||||
| December 31, | December 31, | ||||||
| 2024 (Unaudited) | 2023 (Audited) | ||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 506.2 | $ | 537.7 | |||
| Marketable securities and short-term deposits | 865.7 | 992.3 | |||||
| Trade receivables, net | 728.8 | 657.7 | |||||
| Prepaid expenses and other current assets | 92.7 | 70.0 | |||||
| Total current assets | 2,193.4 | 2,257.7 | |||||
| Long-term assets: | |||||||
| Marketable securities | 1,411.9 | 1,429.7 | |||||
| Property and equipment, net | 80.8 | 80.4 | |||||
| Deferred tax asset, net | 63.6 | 81.8 | |||||
| Goodwill and other intangible assets, net | 1,897.1 | 1,748.5 | |||||
| Other assets | 96.6 | 97.4 | |||||
| Total long-term assets | 3,550.0 | 3,437.8 | |||||
| Total assets | $ | 5,743.4 | $ | 5,695.5 | |||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||
| Current liabilities: | |||||||||
| Deferred revenues | $ | 1,471.3 | $ | 1,413.8 | |||||
| Trade payables and other accrued liabilities | 472.9 | 502.3 | |||||||
| Total current liabilities | 1,944.2 | 1,916.1 | |||||||
| Long-term liabilities: | |||||||||
| Long-term deferred revenues | 529.0 | 493.9 | |||||||
| Income tax accrual | 448.5 | 436.1 | |||||||
| Other long-term liabilities | 32.3 | 28.4 | |||||||
| 1,009.8 | 958.4 | ||||||||
| Total liabilities | 2,954.0 | 2,874.5 | |||||||
| Shareholders’ equity: | |||||||||
| Share capital | 0.8 | 0.8 | |||||||
| Additional paid-in capital | 3,052.8 | 2,732.5 | |||||||
| Treasury shares at cost | (14,267.7 | ) | (13,041.2 | ) | |||||
| Accumulated other comprehensive gain (loss) | (10.3 | ) | (39.2 | ) | |||||
| Retained earnings | 14,013.8 | 13,168.1 | |||||||
| Total shareholders’ equity | 2,789.4 | 2,821.0 | |||||||
| Total liabilities and shareholders’ equity | $ | 5,743.4 | $ | 5,695.5 | |||||
| Total cash and cash equivalents, marketable securities, and short-term deposits | $ | 2,783.8 | $ | 2,959.7 | |||||
| CHECK POINT SOFTWARE TECHNOLOGIES LTD. SELECTED CONSOLIDATED CASH FLOW DATA | |||||||||||||||
| (Unaudited, in millions) | |||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Cash flow from operating activities: | |||||||||||||||
| Net income | $ | 257.5 | $ | 249.2 | $ | 845.7 | $ | 840.3 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||
| Depreciation of property and equipment | 6.3 | 5.7 | 24.0 | 23.1 | |||||||||||
| Amortization of intangible assets | 19.2 | 13.5 | 59.6 | 24.3 | |||||||||||
| Stock-based compensation | 29.8 | 39.9 | 149.7 | 145.3 | |||||||||||
| Realized loss on marketable securities | - | - | - | 6.7 | |||||||||||
| Increase in trade and other receivables, net | (337.1 | ) | (324.3 | ) | (78.9 | ) | (61.0 | ) | |||||||
| Increase in deferred revenues, trade payables and other accrued liabilities | 273.0 | 270.6 | 59.7 | 65.5 | |||||||||||
| Deferred income taxes, net | 0.3 | (18.8 | ) | (1.0 | ) | (9.5 | ) | ||||||||
| Net cash provided by operating activities | 249.0 | 235.8 | 1,058.8 | 1,034.7 | |||||||||||
| Cash flow from investing activities: | |||||||||||||||
| Payment in conjunction with acquisitions, net of acquired cash | - | (3.8 | ) | (185.8 | ) | (458.8 | ) | ||||||||
| Investment in property and equipment | (6.5 | ) | (4.7 | ) | (24.2 | ) | (18.6 | ) | |||||||
| Net cash used in investing activities | (6.5 | ) | (8.5 | ) | (210.0 | ) | (477.4 | ) | |||||||
| Cash flow from financing activities: | |||||||||||||||
| Proceeds from issuance of shares upon exercise of options | 9.0 | 16.0 | 258.6 | 133.7 | |||||||||||
| Purchase of treasury shares | (325.0 | ) | (313.2 | ) | (1,299.9 | ) | (1,287.6 | ) | |||||||
| Payments related to shares withheld for taxes | (1.5 | ) | (1.2 | ) | (18.6 | ) | (11.0 | ) | |||||||
| Net cash used in financing activities | (317.5 | ) | (298.4 | ) | (1,059.9 | ) | (1,164.9 | ) | |||||||
| Unrealized gain (loss) on marketable securities, net | (14.0 | ) | 42.1 | 35.2 | 64.1 | ||||||||||
| Decrease in cash and cash equivalents, marketable securities, and short-term deposits | (89.0 | ) | (29.0 | ) | (175.9 | ) | (543.5 | ) | |||||||
| Cash and cash equivalents, marketable securities, and short-term deposits at the beginning of the period | 2,872.8 | 2,988.7 | 2,959.7 | 3,503.2 | |||||||||||
| Cash and cash equivalents, marketable securities, and short-term deposits at the end of the period | $ | 2,783.8 | $ | 2,959.7 | $ | 2,783.8 | $ | 2,959.7 | |||||||
| Investors: Kip E. Meintzer Check Point Software Technologies, Ltd. +1.650.628.2040 ir@checkpoint.com | Media: Gil Messing Check Point Software Technologies, Ltd. +1.650.628.2260 press@checkpoint.com |
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