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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 Quantum Network Security R81 has successfully achieved Common Criteria certification, recognized by 31 member nations of the Common Criteria Recognition Agreement (CCRA). This certification confirms Check Point's adherence to rigorous security standards required by government and critical infrastructure sectors. The certification complements the existing CC EAL4+ certification, showcasing Check Point’s commitment to high security for IT infrastructure. The full suite of Check Point Quantum Network Security appliances is now compliant with three Protection Profiles, enhancing protection against sophisticated cyber threats.
Check Point Software Technologies (NASDAQ: CHKP) has launched a new version of Harmony Mobile, the leading mobile threat solution that now effectively blocks the download of malicious files to mobile devices, enhancing security against file-based cyberattacks.
With growing mobile usage, nearly 97% of organizations have encountered mobile threats. This release includes advanced features such as operating system vulnerability assessment and integration with Samsung Knox, marking it as a comprehensive mobile security solution.
Check Point Software Technologies (NASDAQ: CHKP) has partnered with Provision-ISR, an international leader in CCTV, to integrate its Quantum IoT Protect Nano Agent into Provision-ISR's video surveillance devices. This collaboration aims to enhance security against zero-day attacks in the CCTV market, which is increasingly vulnerable due to IoT connectivity. The Nano Agent offers comprehensive protection without compromising performance, addressing significant vulnerabilities in current CCTV technology. The launch will take place at IFSEC International 2022, highlighting the need for robust IoT device security.
Check Point Research has released its Global Threat Index for April 2022, highlighting significant malware activities. Emotet continues to dominate, affecting 6% of organizations, though its impact decreased from 10% in March. Formbook and Lokibot have now emerged as the second and sixth most prevalent malware, respectively. Notably, vulnerabilities like Spring4Shell are making headlines, impacting over 35% of organizations. The Education and Research sector remains the most targeted by cybercriminals.
Check Point Software Technologies (NASDAQ: CHKP) announced a significant cybersecurity upgrade for Almac Group, a global pharmaceutical company. Through Check Point solutions, including Quantum Security Gateways and CloudGuard, Almac has enhanced its threat prevention across networks, cloud environments, and endpoints. This upgrade addresses the rising cybersecurity challenges posed by remote work dynamics during the pandemic. Almac Group now benefits from consolidated security management, improved visibility, and advanced protection against emerging threats like the Log4j vulnerability.
Check Point Software Technologies (NASDAQ: CHKP) reported strong Q1 2022 results with total revenues reaching $543 million, representing a 7% year-over-year increase. Security subscription revenues were $202 million, a 14% increase year-over-year. GAAP EPS declined by 2% to $1.30, while non-GAAP EPS rose 2% to $1.57. Deferred revenues reached $1,666 million, marking a 14% increase. Cash flow from operations was $398 million, up from $375 million in the prior year. The company also repurchased 2.5 million shares for $325 million.
Check Point Research has published its Global Threat Index for March 2022, revealing that Emotet remains the most prevalent malware, affecting 10% of organizations worldwide. Its impact has doubled since February, attributed to aggressive email phishing campaigns. Additionally, Agent Tesla has climbed to second place in malware prevalence.
Check Point Software (CHKP) is supporting the Rakia Israeli space mission by hosting communication services at its Tel Aviv headquarters. The mission, which involves astronaut Eytan Stibbe, will see him conduct 35 experiments aboard the International Space Station over 8 to 10 days. Check Point has established a Rakia Mission Center that includes a control room to oversee these experiments and facilitate real-time communication. This initiative aims to advance research and innovation while enhancing the understanding of cyber security challenges in space.
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