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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 Ltd. (NASDAQ: CHKP) reported a 4% year-over-year increase in total revenue for Q2 2021, reaching $526 million. Deferred revenues grew by 10% to $1,472 million. GAAP operating income stood at $222 million, and GAAP EPS remained stable at $1.38. Non-GAAP EPS increased by 2% year-over-year to $1.61. The company highlights strong growth in its CloudGuard and Harmony services, alongside a significant rise in ransomware attacks, emphasizing a need for a prevention-first security strategy.
Check Point Software Technologies (NASDAQ: CHKP) has partnered with Incedo to enhance its cybersecurity measures amid rising global cyber threats. By consolidating its multi-vendor security approach, Incedo implemented Check Point's advanced solutions, including Quantum Security Gateways and Harmony Endpoint, achieving 100% protection against ransomware and reducing endpoint costs by approximately 30%. The collaboration boosts productivity and resilience, particularly vital during the COVID-19 pandemic. Incedo plans to further enhance its security with Check Point's CloudGuard solution.
Check Point Research has released its Q2 Brand Phishing Report, revealing that Microsoft was the most impersonated brand by cybercriminals, involved in 45% of phishing attempts. DHL followed at 26%, while Amazon, Best Buy, and Google were also targeted. The report indicates a rising trend in phishing activities, with over 2,300 new domains registered for Amazon ahead of Prime Day. The technology sector remains the most affected, emphasizing the need for users to remain vigilant against fraudulent communications.
Check Point Research has reported that Trickbot malware retains its status as the most prevalent malware for June 2021, marking the second consecutive month in this position. Trickbot, known for banking trojan functionalities, accounts for a global impact of 7% on organizations. The report highlights a significant increase in ransomware attacks, with weekly incidents rising by 93% over the past year. Additionally, the most exploited vulnerabilities include HTTP Headers Remote Code Execution, affecting 47% of organizations, and MVPower DVR Remote Code Execution impacting 45%.
Check Point Software Technologies (NASDAQ: CHKP) announced a strategic integration of CloudGuard with Alibaba Cloud, expanding multi-cloud support. This collaboration aims to enhance cloud network security and posture management for Alibaba Cloud customers, allowing organizations to benefit from improved security across their cloud infrastructure while maintaining compliance. Key features include advanced security capabilities, comprehensive visibility, and compliance management through a robust ruleset. This integration reflects the growing trend of organizations adopting multi-cloud strategies for better workload management.
Check Point Software Technologies (NASDAQ: CHKP) has announced its sponsorship of The Smart Factory @ Wichita, an immersive experience center by Deloitte. This partnership highlights the critical need for cyber security in smart factories as manufacturers adopt Industry 4.0 technologies. With cyber attacks in the US rising over 300% in the last nine months, Check Point aims to strengthen the security framework for manufacturing infrastructures. The initiative seeks to enhance productivity and sustainability while minimizing risks associated with digital transformations.
Check Point Software Technologies Ltd. (NASDAQ: CHKP) announced the release date for its Q2 financial results, scheduled for July 26, 2021, before U.S. markets open. The management will hold a video conference at 8:30 AM EDT to discuss these results with investors. This quarterly update will provide key insights into Check Point's performance and strategic direction, amid growing cybersecurity challenges in the digital landscape. Investors are encouraged to tune into the webcast available on the company’s investor relations website.
Check Point Software Technologies has launched the R81.10 software, Quantum Maestro 175, and Quantum Smart-1 Security Management appliances to enhance security for hybrid data centers. This update improves automated operations and scalability, allowing businesses to securely move workloads between data centers and the cloud with better performance and lower costs. The software features over 60 AI and ML threat prevention engines, ensuring up-to-date protection against zero-day threats. It enables rapid expansion and management of security operations to support the evolving digital landscape.
Check Point CloudGuard has expanded its capabilities to offer comprehensive workload security that protects applications, functions, and containers from development through runtime.
With a focus on automation, this innovative solution addresses the complexities of cloud security, as 68% of enterprises cite misconfiguration as a significant threat to their cloud assets.
The platform enhances security through unified controls and integrates with CI/CD tools, ensuring automated threat detection and prevention across environments.
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