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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) 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.
Check Point Software Technologies Ltd. (NASDAQ: CHKP) will release its first-quarter financial results on April 27, 2022, before U.S. markets open. Management will conduct a video conference call for investors at 8:30 AM EST, with a live webcast available on the company’s website. The company specializes in providing cybersecurity solutions globally, protecting over 100,000 organizations from advanced cyber threats through its Check Point Infinity portfolio, which includes Check Point Harmony, CloudGuard, and Quantum.
Check Point's Harmony Endpoint has been recognized as a leader in the MITRE Engenuity ATT&CK® Evaluations for the second consecutive year.
Demonstrating 100% detection of all attack steps, Harmony Endpoint also achieved a 98% detection rate for the APT Wizard Spider. This evaluation showcased its ability to automatically block and recover from cybersecurity threats, including ransomware, with zero delays in alerting.
Overall, the results emphasize Check Point's commitment to providing advanced cybersecurity solutions amidst increasing cyber threats.
Check Point Research has reported that Emotet remains the most prevalent malware, affecting 5% of organizations globally, while Trickbot has dropped to sixth place after lacking recent campaigns. The report highlights the exploitation of the Russia/Ukraine conflict by cybercriminals using Emotet to distribute malicious emails. The Education/Research sector continues to be the most targeted industry, followed by Government/Military and ISP/MSP. The most exploited vulnerability is the Web Server Exposed Git Repository Information Disclosure, impacting 46% of organizations.
Check Point Software Technologies announces the appointment of Rupal Hollenbeck as the leader of a newly unified global go-to-market organization, effective March 7, 2022. Hollenbeck has extensive experience in the tech industry, including roles at Oracle and Intel. This transition comes as Dan Yerushalmi concludes his term as Chief Customer Officer to focus on personal interests. CEO Gil Shwed emphasizes the importance of strong leadership amid increasing cybersecurity needs, citing recent strong quarterly results and ongoing initiatives.
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