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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 new initiatives to enhance its Partner Growth Program, aimed at boosting partner profitability and customer engagement. Key features include a 25% margin for new customer registrations and a 15% discount on sales of new technologies like CloudGuard and Harmony. A new Professional Services Certification Program will empower partners to deliver specialized services. Additionally, the program offers pre-packaged lead generation campaigns and an enhanced 'White Space' program to identify sales opportunities.
Check Point Software Technologies Ltd. (NASDAQ: CHKP) reported financial results for Q1 2021, with total revenues of $508 million, marking a 4% year-over-year increase. The company achieved GAAP EPS of $1.33, an 8% increase from last year, and non-GAAP EPS of $1.54, a 9% increase. Deferred revenues rose to $1.458 billion, up 8% year-over-year. Check Point emphasized the success of its CloudGuard technologies amid heightened cyber threats. Additionally, the company repurchased 2.7 million shares for $325 million.
Check Point Software Technologies (NASDAQ: CHKP) announced that its endpoint security solution, Harmony Endpoint, achieved a 100% detection rate in the recent MITRE ATT&CK Endpoint Protection Product Evaluation. Furthermore, it attained the highest technique detection level for 96% of unique techniques tested. This evaluation showcases Harmony Endpoint's comprehensive threat detection capabilities against sophisticated threats from groups like Carbanak and FIN7, which have caused over $1 billion in theft. The results affirm the solution's effectiveness in enhancing cybersecurity for businesses globally.
Check Point Research released its Q1 2021 Brand Phishing Report, revealing trends in phishing targeting major brands. In this quarter, Microsoft was the most imitated brand at 39%, followed by DHL at 18%. Notably, the banking sector rose, with Wells Fargo and Chase making the top ten due to increased digital payment reliance. The report illustrates evolving phishing tactics aimed at exploiting online behavior during the pandemic. Check Point emphasizes the importance of user caution against phishing attempts.
Check Point Software Technologies (NASDAQ: CHKP) released its 2021 Mobile Security Report, highlighting increased mobile threats faced by enterprises. Key findings include:
- 97% of organizations encountered mobile threats from multiple attack vectors in 2020.
- 46% had employees download a malicious mobile application.
- 40% of mobile devices globally are vulnerable due to chipset flaws.
- Mobile malware incidents, including banking trojans, increased by 15%.
The report urges organizations to prioritize mobile security as remote work expands.
Check Point Software Technologies (NASDAQ: CHKP) will release its Q1 financial results on April 26, 2021, before U.S. markets open. A conference call is scheduled for 8:30 AM EDT on the same day, which can be accessed via live webcast on the company's website. Check Point is a leading provider of cybersecurity solutions, protecting over 100,000 organizations worldwide with its advanced security measures against cyber threats, including malware and ransomware.
Check Point Research reports that after the takedown of the Emotet botnet, Trickbot has emerged as the leading global cyber threat. In February 2021, Trickbot topped the Global Threat Index, affecting 3% of organizations worldwide. The malware was distributed through a malicious spam campaign targeting legal and insurance sectors. Trickbot previously played a role in the costly $67 million attack on Universal Health Services, emphasizing its danger and adaptability. Check Point urges organizations to strengthen security and employee training to combat such threats.
Check Point Research has released its 2021 Security Report, revealing tactics used by cyber criminals during the COVID-19 pandemic. Key findings include over 100,000 malicious websites and 10,000 malicious files appearing daily, with 87% of organizations facing attacks exploiting known vulnerabilities. The report highlights a significant surge in ransomware, especially in the healthcare sector, which saw a 45% increase in attacks. With 46% of employees downloading malicious mobile apps, the report emphasizes urgent improvements in cloud security and remote working defenses.
Check Point (NASDAQ: CHKP) has launched CPX360, a virtual event addressing cybersecurity challenges, with a focus on strategies to prevent cyber threats. CEO Gil Shwed highlighted a 50% increase in cyber-attacks due to the shift to remote work during the COVID-19 pandemic. He emphasized the urgency for organizations to adopt Gen V security technologies to combat evolving threats. The event features industry experts discussing trends and new solutions, including Check Point Harmony, aimed at enhancing endpoint security.
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