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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 Research released its Global Threat Index for March 2023, highlighting a new campaign by the Emotet Trojan, which has become the second most prevalent malware, impacting organizations globally through spam emails with malicious OneNote files. This campaign successfully evades Microsoft’s macro block, showing the sophistication of Emotet. The report also indicates that the Apache Log4j Remote Code Execution vulnerability remains the most exploited, affecting 44% of organizations, with HTTP Headers and MVPower DVR vulnerabilities following closely. The education/research sector was the most targeted industry last month.
Check Point Software Technologies Ltd. (NASDAQ: CHKP) will release its financial results for Q1 2023 on May 1, 2023, before U.S. markets open. The management will host a video conference call at 8:30 AM EST to discuss the results. This event is crucial as investors await insights into the company's performance amidst a growing cybersecurity landscape. Check Point continues to protect over 100,000 organizations with its advanced cybersecurity solutions, including Check Point Harmony, CloudGuard, and Quantum, designed to combat evolving cyber threats.
Check Point Software Technologies (NASDAQ: CHKP) unveiled Infinity Global Services, an extensive cybersecurity solution designed to enhance organizational defenses against advanced cyber threats. Launched on March 15, 2023, this service addresses the growing cybersecurity skills gap, enabling firms to bolster their cybersecurity practices across various business sizes. With comprehensive service offerings spanning 30 areas, it focuses on improving threat prevention, incident response, and team capabilities, offering real-time threat intelligence and managed detection services.
Infinity Global Services will be available through Check Point's global partner network this summer.
Check Point CloudGuard AppSec has been recognized as a leader in GigaOm’s Application and API Security Radar Report. The report highlights Check Point’s innovative use of Preemptive Artificial Intelligence to shield cloud applications from complex zero-day attacks, such as Log4j. This recognition validates Check Point’s strategy of employing Machine Learning to enhance cloud security. GigaOm noted the platform's capability to integrate traditional security tools with advanced AI functionalities. With a 38% increase in global cyberattacks in 2022, the demand for comprehensive security solutions is critical.
Check Point Software Technologies (NASDAQ: CHKP) has released its Global Threat Index for February 2023, highlighting that Remcos Trojan was used in phishing attacks on Ukrainian government entities. This malware's resurgence marks its return to the top ten for the first time since December 2022. The report indicates a 44% drop in weekly attacks per organization, yet Ukraine remains a primary target for cybercriminals. The Education/Research sector is noted as the most attacked industry. Additionally, the most exploited vulnerabilities include 'Web Servers Malicious URL Directory Traversal' affecting 47% of organizations globally.
Check Point Software Technologies (NASDAQ: CHKP) announced major leadership changes to enhance its business performance. Nataly Kremer has been appointed as Chief Product Officer and Head of R&D, bringing 12 years of experience from AT&T. Dr. Dorit Dor becomes the Chief Technology Officer, having played a pivotal role in the company for over 27 years. Rupal Hollenbeck has been promoted to President, continuing her leadership in commercial strategy. These changes aim to strengthen Check Point’s capabilities in delivering advanced cybersecurity solutions and meeting customer demands amid evolving industry challenges.
Check Point Software Technologies (NASDAQ: CHKP) has launched Check Point Infinity Spark, a new threat prevention solution designed for small and medium-sized businesses (SMBs). This platform delivers comprehensive security across networks, email, endpoint, and mobile devices with a 99.7% malware catch rate. Infinity Spark aims to simplify cybersecurity operations for SMBs, especially amid a shortage of skilled professionals. It consolidates security management, potentially reducing operational costs for managed service providers by 50%. The Infinity Spark suite is now available for order, offering an affordable, all-in-one security solution.
Check Point Software Technologies (NASDAQ: CHKP) has launched Check Point Quantum SD-WAN, a new cybersecurity solution designed to protect branch offices from advanced cyberattacks. This product delivers optimized connectivity while maintaining high security standards by blocking 99.7% of malware and phishing threats. It combines SD-WAN technology with robust security protocols, ensuring uninterrupted service for over 10,000 applications. Designed for organizations transitioning to cloud connectivity, this solution aims to balance speed and security effectively, mitigating risks associated with direct internet access.
Check Point Research released its Global Threat Index for January 2023, highlighting that the infostealer Vidar returned to the top ten list in seventh place. This resurgence was linked to increased instances of brandjacking. Additionally, a major campaign named Earth Bogle spread njRAT malware across the Middle East and North Africa through phishing emails. The research identified that the top exploited vulnerability was the Web Server Exposed Git Repository Information Disclosure, affecting 46% of organizations worldwide. The report underscores the importance of vigilance against phishing and malware threats.
Check Point Software Technologies has expanded its share repurchase program by $2.0 billion, allowing for quarterly repurchases of up to $325 million. This continued initiative follows the repurchase of approximately 204 million shares for a total of $13 billion since the program's inception. As of December 31, 2022, the company had about 120.8 million shares outstanding. The program, which may be conducted through various methods including open market transactions, reflects Check Point's commitment to enhancing shareholder value. Funding for repurchases will come from available working capital.
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