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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) will release its financial results for the second quarter of 2024 on July 24, 2024, before U.S. markets open. The company will host a video conference call for investors at 8:30 AM EST/5:30 AM PST the same day. The live videocast will be available on Check Point's investor relations website. Check Point is a global leader in cybersecurity solutions, and this announcement provides an important update for investors tracking the company's performance and future prospects.
Check Point Software Technologies announced the CloudGuard WAF-as-a-Service (WAFaaS), an AI-powered web application firewall designed to enhance cloud security. The service is fully managed and scalable, offering protection against cyber threats and unauthorized access.
The 2024 Cloud Security Report indicated that 96% of respondents were concerned about managing cloud risks. CloudGuard WAFaaS aims to simplify and streamline this process with features like AI-based threat detection, API discovery, and DDoS prevention. The platform can be deployed in under five minutes, providing a comprehensive and cost-effective security solution.
Check Point Software has launched a new API Discovery feature on its CloudGuard platform, enhancing its Web Application Firewall (WAF) capabilities. This innovation has positioned Check Point as a leader in GigaOm's latest Radar for Application and API Security. The API Discovery tool provides comprehensive insights into API inventories across cloud environments, helping to identify exposed or vulnerable APIs, thereby enhancing security measures against unauthorized access and data breaches. GigaOm analyst Don MacVittie highlighted that Check Point earned the highest score for API protection. Check Point's 2024 Cloud Security Report noted a substantial rise in cloud security incidents, from 24% in 2023 to 61% in 2024.
Check Point Software Technologies released the 2024 Cloud Security Report, revealing a sharp increase in cloud security incidents from 24% in 2023 to 61% in 2024. The report emphasizes the need for organizations to prioritize AI-powered threat prevention measures, as only 21% focus on prevention while the majority concentrate on detection. Concerns over managing cloud risks have surged to 96%, with 91% prioritizing AI to enhance security. The report highlights the importance of implementing Cloud Native Application Protection Platforms (CNAPP) and the challenges in maintaining regulatory standards and integrating cloud services into legacy systems.
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