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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 Research reports a resurgence in Emotet, now the second most prevalent malware globally, with a 4% impact on organizations. Qbot returns to the index for the first time since 2021, also impacting 4% of organizations. The Education sector remains the most attacked industry. Additionally, common vulnerabilities include Web Servers Malicious URL Directory Traversal at 46% and Web Server Exposed Git Repository Information Disclosure at 45%. Cybersecurity remains critical as threats evolve and target diverse sectors.
Check Point Software Technologies has launched the CyberUp accelerator program to bolster Israel's cybersecurity start-ups, enhancing market access and developing the local ecosystem. The initiative will support selected companies with established solutions beneficial to Check Point’s clients, fostering innovation and collaboration. The first cohort includes seven early-growth companies, demonstrating a commitment to the sector's growth. With a focus on customer engagement, the 16-week program offers exposure to global markets and key industry players, alongside marketing initiatives to increase visibility.
Check Point Software Technologies (NASDAQ: CHKP) has released its 2023 cyber-security predictions, highlighting significant challenges organizations will face, including a 28% increase in cyberattacks in Q3 2022 compared to 2021. The rise in threats is driven by ransomware and state-mobilized hacktivism. The company emphasizes the need for security infrastructure consolidation amid a widening global cyber workforce gap of 3.4 million. Key predictions include evolving malware, governmental regulations, and the necessity for simplified security measures to mitigate risks.
Check Point Research has revealed a significant rise in Lokibot attacks, which moved to third place among malware for the first time in five months. AgentTesla remained the most prevalent malware, affecting 7% of organizations globally. A new critical vulnerability, Text4Shell, impacting the Apache Commons Text library, was also disclosed. The Education/Research sector continues to be the most attacked industry, followed by Government/Military and Healthcare. The most commonly exploited vulnerabilities include Web Server Exposed Git Repository Information Disclosure, affecting 43% of organizations.
Check Point Software Technologies (NASDAQ: CHKP) reported strong financial results for Q3 2022, achieving $578 million in total revenue, an 8% year-over-year increase. Security subscription revenues surged to $216 million, a 13% increase, with deferred revenues reaching $1,647 million, also up 13%. GAAP EPS rose 5% to $1.47, while non-GAAP EPS increased 7% to $1.77. The company also announced the introduction of Horizon, a new security operations suite. CFO Tal Payne will take a six-month sabbatical, with VP finance Roei Golan stepping in.
Check Point Software Technologies (CHKP) has been named a leader in the 2022 GigaOm Radar Report for Cloud Security Posture Management (CSPM). This recognition comes due to its CloudGuard platform's innovative compliance framework monitoring and powerful automation capabilities, which enhance cloud security and operational efficiency. The report assesses CSPM solutions based on technical capabilities, showcasing Check Point's maturity and innovation. The company emphasizes its focus on preventing vulnerabilities in cloud deployments, further enhancing its standing in the cybersecurity landscape.
Check Point Research has published its Q3 2022 Brand Phishing Report, detailing the brands most frequently impersonated by cybercriminals. DHL topped the list, accounting for 22% of phishing attempts, followed by Microsoft at 16% and LinkedIn at 11%. This marks a significant shift from previous quarters. As the holiday shopping season approaches, Check Point warns that phishing scams may increase, particularly targeting shipping-related communications. Users are advised to verify delivery notifications directly through official websites.
Check Point Software Technologies has launched the Quantum Titan, an advanced cybersecurity platform. This release utilizes AI and deep learning to enhance IoT security and combat sophisticated threats, including zero-day phishing attacks and DNS exploits. Quantum Titan features three innovative software blades, providing five times more DNS attack prevention and four times more effectiveness against phishing than traditional methods. The platform will be generally available in November 2022, promising faster response times and smarter protection for complex networks.
Check Point Software Technologies (NASDAQ: CHKP) has been recognized as a leader in The Forrester Wave™: Enterprise Firewalls, Q4 2022 report. Forrester praises Check Point for its innovative threat prevention technologies and exceptional user interface. The report highlights Check Point's effective use of AI and machine learning in combating sophisticated cyber threats. Additionally, the company's Quantum Intrusion Prevention System is noted for superior performance. Check Point continues to excel in customer support and usability, maintaining strong operational integrity during the pandemic.
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