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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 advises that the news release titled "August 2020’s Most Wanted Malware: Evolved Qbot Trojan Ranks On Top Malware List For First Time" issued on September 10, 2021, should be disregarded. This announcement clarifies that the previous report contained content that is no longer relevant or accurate, emphasizing the importance of accurate information in cybersecurity reporting.
Check Point Research (CPR) has released its August 2021 Global Threat Index, highlighting Formbook as the most prevalent malware, impacting 4.5% of organizations globally. This marks a shift as Trickbot drops to the second position. The banking trojan Qbot has fallen out of the top 10 entirely. Newly identified Remcos enters at sixth place. Additionally, the report reveals that Web Server Exposed Git Repository Information Disclosure is the most commonly exploited vulnerability, affecting 45% of organizations worldwide.
Check Point Software (NASDAQ: CHKP) announced the acquisition of Avanan, a leader in cloud email security. This integration aims to enhance the cybersecurity landscape, particularly in email and SaaS collaboration suites, addressing the growing threat of phishing attacks, which have increased sharply during the pandemic. Avanan's technology will be embedded into Check Point Infinity architecture, enabling organizations to modernize their email security systems. This acquisition is expected to bolster Check Point's position in the cybersecurity market by providing a comprehensive solution against sophisticated email threats.
Check Point Software Technologies (NASDAQ: CHKP) has partnered with Regione Marche, the local government of Marche, Italy, to enhance its cybersecurity infrastructure. The collaboration aims to consolidate multiple security solutions into a unified approach that simplifies management and secures sensitive data. Key solutions implemented include Check Point Quantum Security Gateways and R80.40 Security Management, which have improved threat prevention and operational efficiency. The transition was expedited by the COVID-19 pandemic, necessitating robust remote work security measures.
Check Point Software Technologies (NASDAQ: CHKP) announced shareholder approval of all five proposals during its 2021 Annual General Meeting held on August 10, 2021. Approximately 75% of outstanding shares, totaling about 99.1 million, participated in the voting. This endorsement highlights the confidence shareholders have in the company and its operations.
For detailed information about the proposals, refer to the company's proxy statement available on their investor relations page.
Check Point Software Technologies (NASDAQ: CHKP) announced its recognition as a Market Leader in Omdia's Market Radar Mobile Security Management Solutions Report, highlighting its Check Point Harmony Mobile product. The report evaluated seven criteria, including endpoint threat detection and market impact, where Check Point excelled. The need for robust mobile security is underscored by a finding that 97% of organizations faced mobile threats across multiple attack vectors. With the rise of hybrid work, the company's solutions aim to safeguard both corporate and personal devices.
Check Point Software Technologies (NASDAQ: CHKP) has announced a significant $2 billion expansion of its share repurchase program, allowing for up to $325 million in shares to be repurchased each quarter. Since the inception of the program in February 2020, approximately 188 million shares have been repurchased for $11.1 billion. The company aims to enhance shareholder value through this initiative, which may involve open market or privately negotiated transactions. The repurchase is expected to be funded from available working capital.
Check Point Software Technologies (NASDAQ: CHKP) released its 'Cyber Attack Trends: 2021 Mid-Year Report', revealing a significant 29% rise in global cyber-attacks. The EMEA region saw a 36% increase, while ransomware attacks surged by 93%. APAC faced the highest weekly attacks at 1,338. This report highlights the emergence of 'Triple Extortion' ransomware tactics and ongoing supply chain threats, building on notable incidents like SolarWinds and Colonial Pipeline. As cybercriminals adapt their strategies, predictions indicate a continuation of ransomware proliferation in H2 2021.
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