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Check Point Software Technologies

Company

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Check Point Software Technologies is a provider of information security solutions. The company is headquartered in Israel.
Revenue and Net Profit billions

Number of employees
2007 year
1900

Assets

+ Check Point Software Technologies

Areas of activity

  • Firewall
  • Consolidation of offices into a single network (secure VPN network)
  • IPS protection (segment protection)
  • Web Proxy, Replacing MS TMG\ISA
  • Traffic control, banning external mailers
  • Protect mobile users and data
  • Preventing Data Leaks
  • Data Center Protection
  • Attack Protection DDOS
  • APCS protection

Financial indicators

The company's fiscal year ends December 31.

Source photo: int-ext.ru

2020: Revenue growth by 4% to $2.07 billion

Check Point Software Technologies completed 2020 with annual revenue of $2.07 billion, which was 4% higher than sales in 2019.

Most of the turnover in 2020 came from the sale of products and subscriptions to solutions for information security. The corresponding revenue reached $1.19 billion against $1.12 billion. In particular, the supply of products and software licenses brought Check Point Software Technologies revenues of $513.6 million against $510.8 million in 2019, and subscription earnings during this time rose from $610.3 million to $671.1 million.

Sales of support services and updates for software added $880.2 million to the revenue of Check Point Software Technologies at the end of 2020. In 2019, the figure was measured at $873.7 million.

The net profit of Check Point Software Technologies at the end of 2020 amounted to $846.6 million, which is more than the profit a year ago of $825.7 million.

Check Point Software Sales Up 4% Thanks to Subscriptions

By December 31, 2021, the deferred revenue of Check Point Software Technologies reached $1.48 billion, an increase of 7% year on year. About $4 billion of cash accumulated on the company's balance sheet.

Check Point Software Technologies CEO Gil Shved noted that in 2020, sales of IB products for cloud protection, networks and remote access increased sharply, as the hybrid working environment, combining work from home and office, became a new normality in the conditions of the COVID-19 pandemic. This trend is likely to continue after the coronavirus crisis, he said.

According to the Shwed, Check Point Software Technologies is working to combine its technologies into a single package of products that can protect home and work computers, as well as mobile networks.

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Most companies are not sufficiently protected, and we will begin to see the consequences of this, "said the Swede, adding that the business still spent a lot of money on cybersecurity, despite the difficult year 2020.[1]
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Business in Russia

Main article: Check Point Russia and CIS

Deliveries of Check Point products to Russia and the CIS began in 1997.

Check Point Partner Program

Main article: Check Point Partner Program

History

2022: Acquisition of Israeli cloud protection developer Spectral

Check Point, one of Israel's largest providers of cybersecurity solutions, announced on February 1, 2022 the acquisition of Spectrum, a company specializing in software code security during development. More details here.

2021: Acquisition of Cloud Protection Developer and Avanan e-mail

IB company Check Point Software on August 30, 2021 announced the acquisition of Avanan, an email protection provider and Solutions SaaS. More details here.

2020: Purchase of the IB company Odo Security

On September 17, 2020, Check Point Software Technologies announced the acquisition of Odo Security. The deal is scheduled to close within a few days. The financial component of the agreement was not disclosed to the company. According to Israeli media, we are talking about the amount of $30 million. More details here.

2019

Revenue growth by 4%, up to $2 billion

In 2019, the revenue of Check Point Software Technologies amounted to almost $2 billion, an increase of 4% compared to 2018. This rise was facilitated by subscriptions to information security solutions, as well as sales of products to counter cyber threats in cloud infrastructures.

Check Point Financial Performance
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We ended the decade with revenues of almost $2 billion and more than $1 billion in operating income. For 10 years, we have introduced the new Security-as-a-Service model, which provides the most advanced cybersecurity technologies. In 2019, subscription income reached more than $600 million [$610.3 million compared to $542.3 million in 2018 - approx. TAdviser], which was facilitated by cloud, mobile and other leading zero-day threat prevention technologies, "says Check Point founder and CEO Gil Shwed, summing up 2019. - We began the new decade with the introduction of Infinity NEXT, the industry's most comprehensive cybersecurity platform with more than 60 security technologies that support more than 50 types of assets, including operating systems, cloud workloads, networks of any type, IoT and mobile devices.
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In 2019, software updates and support services brought the Israeli vendor about $873.7 million in revenue, which exceeds the figure of a year ago of $848.6 million. Sales of products and licenses decreased from $525.6 million to $510.8 million.

Check Point's net profit in 2019 amounted to $825.7 million, compared to $821.3 million in profit a year earlier. This growth occurred partly due to the optimization of costs.

In 2019, Check Point repurchased 11.2 million shares worth about $1.28 billion. The company intends to continue returning capital to investors in this format.[2]

Purchase of Protego Server-Free Security Software Developer

In early December 2019, Check Point announced the purchase of Protego. They decided to keep the financial component of the agreement secret. More details here.

Purchase developer to protect IoT equipment from Cymplify's complex cyber attacks

In mid-November 2019, Check Point Software Technologies announced the acquisition of Cymplify. How much this purchase cost the manufacturer of cybersecurity solutions is not reported. More details here.

Microsoft brings Check Point to the big cloud market

Together with Microsoft, the sales of Check Point solutions to protect the cloud infrastructure have become the fastest growing and largest area of ​ ​ cloud business of the latter. This was reported to TAdviser in February 2019 by Itai Greenberg, vice president of product management at Check Point. According to his estimates, sales with Microsoft generate approximately 30-40% of the revenue from the entire cloud direction of Check Point.

The joint sales model implies that Microsoft, along with the Azure cloud platform, offers its customers to purchase a Check Point CloudGuard IaaS solution designed to protect the cloud infrastructure. In turn, Check Point offers the Azure platform to its customers. Such cooperation ensures the mutual generation of leads (potential buyers), Greenberg notes.

According to a representative of Check Point, as part of this collaboration, Microsoft introduced special incentive payments to its sales managers for sales of Check Point solutions together with Azure.

A tool has been created that allows Microsoft Sales Managers to flag a purchase requisition for a Check Point solution when Azure is sold. After entering the requisition, the managers of Check Point itself are connected to close the transaction. After that, Microsoft pays a fee to its seller for a closed deal with Check Point, says Itai Greenberg. Azure Marketplace is also involved in the promotion, where customers can test the Check Point solution.

Microsoft and Check Point have been collaborating for many years, but the partnership in the field of joint sales of cloud solutions Check Point began to develop especially actively in 2017. According to Greenberg, then it was highlighted inside Check Point as strategic.

In 2018, the collaboration was continued, including participation in joint events and training customers of Microsoft cloud products to protect with Check Point solutions. Microsoft has become a general sponsor at Check Point conferences.

Joint sales began with Check Point vSEC for network protection of cloud and virtual infrastructures along with a subscription to the Microsoft Azure platform. It was later renamed CloudGuard IaaS and in 2018 was included in the updated Check Point cloud product line.

Greenberg explains the interest in such cooperation from Microsoft by the fact that the sale of infrastructure protection services can stimulate the sale of cloud services.

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If customers see that the cloud platform is protected, they are ready to host more applications in it, he argues.
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According to Itai Greenberg, Check Point is working to sell its other cloud security solutions together with Microsoft. For example, with Office 365, offer a CloudGuard SaaS solution designed to protect cloud applications.

Check Point Cloud Security Products Sold by Other Partners

One of the largest partners is also Amazon, where CloudGuard IaaS is sold with the Amazon Web Services cloud platform, Greenberg says. Many customers use both Amazon Web Services and Microsoft Azure.

Sales with Amazon Web Services with in volume catch up with sales with Microsoft, this is largely due to the fact that in 2018 Check Point acquired the Israeli company Dome9, Greenberg explains. According to him, with the purchase of Dome9 by Check Point received a large number of customers on Amazon. Prior to this, Microsoft's gap in the Check Point cloud business, he said, was greater.

At the same time, in the case of Amazon, the promotion model is slightly different from the partnership with Microsoft, says Itai Greenberg: security solutions are promoted mainly through the Amazon marketplace, there are fewer joint sales here.

The co-founder and CEO Dome9 Zohar Alon who after acquisition of the company held a position of the area manager of cloudy products in Check Point, told TAdviser that in the long term several years of Check Point expects to bring a share of cloud business in a total turnover approximately to 25%. In 2018, it was at the level of 5-10%, cited data in the company.

The strengthening of the cloud direction in the company in the last two years is largely due to the development of the new Infinity cybersecurity architecture, which Check Point introduced in 2017. It is a consolidated security system that protects data on the network, cloud, and mobile devices.

Purchase of ForceNock Security API and Web Application Protection Software Developer

In mid-January 2019, Check Point Software Technologies announced the acquisition of ForceNock Security, but did not disclose the financial component of the agreement. It is assumed that this transaction will allow the buyer to strengthen advanced cyber protection capabilities based on machine learning. More details here.

2018

Revenue growth by 3% to $1.92 billion

At the end of 2018, Check Point Software Technologies earned $1.92 billion, which is 3% more compared to the previous year.

The company earned $525.6 million for the sale of products and licenses, compared to $559 million in 2017. The implementation of subscriptions to IB products increased from $480.4 million to $542.3 million. Another source of income is software support and update services: here in 2018, the Israeli vendor's income was measured at $848.6 million, while in 2017 earnings were $815.3 million. According to Reuters, subscriptions bring Check Point Software about 70% of revenue.

Check Point Software Financial Performance

According to the CEO of Check Point Software Gil Shwed, the company's security subscription business continued to grow thanks to cloud and mobile technologies, as well as advanced solutions to prevent cyber threats.

According to the company's forecasts, its cloud business will continue to grow in 2019 largely due to the acquisition of the startup Dome9 (the deal was concluded in 2018), which provides technologies to protect cloud processes. In 2018, sales of Dome9 mobile products were small but growing, Gil Shwed emphasized.

According to him, the cost of cybersecurity in the world increased in 2018 by 11%, but a third of consumers are still losing their data, since companies do not protect their systems from cyber attacks in the way they should.

In 2018, Check Point Software's net profit rose to $821 million from $803 million a year earlier. Free cash flow from operations increased during this time from $1.09 billion to $1.13 billion. At the end of 2018, the company bought back about 10.3 million shares totaling $1.1 billion and paid taxes on income in the amount of $158 million.[3]

After the financial results were published, Check Point Software shares fell 0.6% on the New York stock exchange.

Partnership with BlackBerry

On September 13, 2018, BlackBerry Limited and Check Point Software Technologies Ltd announced a global partnership under the ISV (Independent Software Vendor) program for independent software vendors. The agreement provides for joint planning for the launch and sale of Check Point SandBlast Mobile for protection against mobile threats, as well as BlackBerry UEM and BlackBerry Dynamics systems.

To make it easier to work with customers, BlackBerry specialists will be fully trained in Check Point SandBlast Mobile to further sell the product and provide unified support and professional services.

Organizations around the world are implementing mobility solutions to improve performance and deliver digital transformation projects. At the same time, issues of ensuring mobile security are often neglected despite the fact that the complexity and level of danger of cyber threats is growing. A recent Check Point study found that 94% of security professionals doubt their companies "ability to prevent hacking employees' mobile devices.

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The modern world of hypercommunication requires ultra-security. Too often we hear about businesses that think about a security mobility strategy too late, when it may be the weakest link. BlackBerry and Check Point create a structure that revolves around cybersecurity, and with each company bringing different industry solutions, partnership is a natural approach and a great addition to our ISV ecosystem.
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Businesses need consistent, comprehensive protection against threats on mobile devices so they don't become the door for attackers. With Check Point and BlackBerry joining forces to prevent mobile cyber attacks, we provide the mobile threat prevention technologies that every business needs.
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The solution of Check Point SandBlast Mobile works with the BlackBerry Dynamics platform it is integrated and with the system of uniform control of final devices of BlackBerry Unified Endpoint Management (UEM). SandBlast Mobile 3.0 reflects mobile phishing attacks, as well as captures the flow of harmful network traffic to and from devices in order to ensure the security of information and employees. Users will be able to run downloaded to phones tablets applications and in a virtual cloudy environment to analyze their behavior. After such a check ON , it is marked as approved or malicious. Other features of SandBlast Mobile are network protection from the device by monitoring and controlling incoming and outgoing network traffic, blocking phishing attacks in all applications and, browsers breaking connections with malicious command. servers

2015

Revenue growth by 9% to $1.63 billion

At the global level, the company's annual revenue grew by 9% to $1.63 billion. GAAP operating profit was $840 million, up 4.8% from $801 million in 2014. Non-GAAP operating profit was $927 million, up 7% from $866 million in 2014. Non-GAAP earnings were $4.17, up 12% from $3.72 in 2014.

Purchase Lacoon Mobile

The first half of 2015 was marked for Check Point by the acquisition of the startup Hyperwise, which developed CPU-level threat prevention technology, and Lacoon Mobile Security, whose advanced mobile threat prevention technologies supplemented Check Point's mobile security solutions. The amount of the transaction was not disclosed.

In August 2015, Check Point introduced Mobile Threat Prevention, a platform to counter mobile threats on iOS and Android devices. In the summer, the company also expanded the product line in the field of industrial control systems protection (ICS) and released a new 1200R hardware security gateway.

As part of its expanded collaboration with VMware, Check Point has released a vSEC solution integrated with VMware NSX's network virtualization platform that enables customers to systematically monitor the security of all data center traffic.

In September 2015, the company announced a new solution to prevent SandBlast threats, and in the first quarter of 2016 released a version of SandBlast Agent for advanced protection of the network and user devices from zero-day threats.

Second quarter 2015

On July 27, 2015, Check Point Software Technologies Ltd. announced financial results for the second quarter of 2015.

  • revenue: $395 million, which is 9% more compared to the second quarter of 2014;
  • operating income (non-GAAP): $221 million, which is 7% more compared to the same period in 2014;
  • earnings per share (non-GAAP): $0.99, which is 11% more than last year;
  • future revenues: $780 million, which is 18% more compared to last year.

"We maintained good financial results in the second quarter. Total revenue from the sale of products and licenses for software blades shows an increase of 11% due to high demand from industry and business. Data center security devices, Super High-End, and SMART-1 have boosted sales revenue. The increase in license revenue was due to demand for our new and innovative technologies, including Threat Emulation and Threat Extraction, designed to combat advanced cyber attacks, "said Gil Shwed, founder and chief executive officer of Check Point Software Technologies.

Main financial results of the second quarter of 2015:

  • revenue: $395 million, compared with $363 million in the second quarter of 2014.
  • operating income (GAAP): $199 million, compared with $190 million in the second quarter of 2014.
  • operating income (non-GAAP): $221 million, compared with $207 million in the second quarter of 2014.
  • net income and earnings per diluted share (GAAP): GAAP net income was $163 million, compared to $160 million in the second quarter of 2014. Earnings per diluted share (GAAP) were $0.88, up from $0.83 in the second quarter of 2014.
  • net income and earnings per diluted share (non-GAAP): net income not at GAAP $183 million, compared to $172 million in the second quarter of 2014. Earnings per diluted share (non-GAAP) $0.99, compared to $0.89 in the second quarter of 2014.
  • future revenues: as of June 30, 2015, future revenues amounted to $780 million, compared to $660 million as of June 30, 2014.
  • cash flow: cash flow from core activities increased to $193 million compared to $168 million in the second quarter of 2014.
  • share repurchase program: during the second quarter of 2015, the company repurchased 2.9 million shares for a total value of $255 million, compared to $194 million in the second quarter of 2014.
  • cash balance and value of market securities: as of June 30, 2015 amounted to $3,611 million, compared to $3,643 million as of June 30, 2014. The change reflects active cash flow offset by an expanded share buyback program and recent acquisitions of the company.

2013: Revenue growth to $1.39 billion, profit to $620 million, EMEA leadership

The net profit of the Israeli company Check Point at US GAAP in 2013 increased by 5% - to 652.8 million dollars , compared to 620 million dollars in 2012. Revenue in the reporting period rose 4% to $1.39 billion from $1.34 billion in 2012. Earnings per share were 3.27 dollar , up from $2.96 in 2012. Operating profit in 2013 was $760.9 million, up from $746.5 million in 2012.

The region's security equipment market, Europe the Middle East Africa and (has EMEA grown by 2.4% since 2012 to $2.5 billion. The largest and fastest developing segment of the market under consideration, analysts call multifunctional hardware and software complexes for protecting computer networks - UTM solutions (Unified threat management). At the same time IDC , it predicts that the technical equipment market information security will reach $4.2 billion in value terms by 2018, with an average annual growth of 5.4%.

At the end of 2013, Check Point took the leading position among suppliers in terms of revenue from sales of information security technology in EMEA. According to IDC, the vendor's revenue in this segment this year increased by 3.8% to $374.64 million, which corresponds to a market share of 19.3%.

2012: Revenue growth by 8% up to 1.34 billion rubles

Key Financial Results 2012 (ended December 31, 2012)

  • Revenue: $1 342.7 million, which is 8% more compared to $1 247.0 million in 2011.

  • Operating revenue (GAAP): US $746.5 million, up 16% from US $642.2 million in 2011. Current profit (GAAP) was 56%, while in 2011 it was 51%.

  • Operating revenue (non-GAAP): $798.9 million, up 10% from $725.9 million in 2011. Current profit (non-GAAP) was 59%, while in 2011 it was 58%.

  • Net income and income per diluted share (GAAP): Net income was $620.0 million, up 14% from $544.0 million in 2011. Revenue per diluted share (GAAP) was dollar $2.96, up 17% from $2.54 in 2011.

  • Net income and income per diluted share (non-GAAP): Net income was $667.9 million, up 9% from $613.6 million in 2011. Revenue per diluted share (non-GAAP) was $3.19, up 11% from $2.87 in 2011.

  • Cash flow: Cash flow from operations amounted to US $815.8 million, which means an increase of 14% compared to US $714.9 million in 2011.

  • Share repurchase program: during 2012, the company bought 9.5 million shares for a total value of $466.2 million.

2011: Revenue growth by 14% to $1.09 billion

Key financial indicators for 2011 ended 31 December 2011

  • Revenue: $1,247 million, up 14% from $1,097.9 million in 2010.

  • Operating revenue (GAAP): $642.2 million, up 20% from $535.0 million in 2010. Current profit (GAAP) was 51%, up from 49% in 2010.

  • Operating revenue (non-GAAP): $725.9 million, up 17% from $622.7 million in 2010. Current profit (non-GAAP) was 58%, up from 57% in 2010.

  • Net income and income per diluted share (GAAP): Net income was $544.0 million, up 20% from $452.8 million in 2010. Revenue per diluted share (GAAP) was $2.54, up 19% from $2.13 in 2010.

  • Net income and income per diluted share (non-GAAP): Net income was $613.6 million, up 16% from $528 million in 2010. Revenue per diluted share (non-GAAP) was $2.87, up 16% from $2.48 in 2010.

  • Cash flow: cash flow from operations made 714.9 million dollars in comparison with 674.1 million dollars in 2010.

2010

Fin results for the year: turnover growth by 19%

Key financial results for 2010 ended 31 December 2010:

  • Total revenue: $1,097.9 million, up 19 percent from $924.4 million in 2009.

  • Operating profitability - according to GAAP standards: $535.0 million, which is 29 percent more compared to 415.0 million in 2009. GAAP's net profit was 49 per cent, up from 45 per cent in 2009.

  • Operating profitability is not according to GAAP standards: $622.7 million, which is 23 percent more than 505.7 million in 2009. GAAP's net profit was 57 per cent, up from 55 per cent in 2009.

  • GAAP standards net income and diluted share income: GAAP standards net income was $452.8 million, up 27 percent from $357.5 million in 2009. Income per diluted share according to GAAP standards was $2.13, an increase of 26 percent compared to $1.68 for 2009.

  • Net income and income per diluted share is not according to GAAP standards: Net income under GAAP standards was $528.0 million, an increase of 21 percent compared to $435.3 million in 2009. Non-GAAP diluted share income was $2.48, up 21 percent from $2.05 in 2009.
  • Cash Flow: Cash from core operations amounted to $674.1 million, up 23 percent from $548.7 million in 2009.

Fin results for the 4th quarter: turnover growth by 17%

Key financial results for the fourth quarter of 2010 ended 31 December 2010:

  • Total revenue: $318.5 million, up 17 percent from $272.1 million for the fourth quarter of 2009.
  • Operating profitability - by GAAP standards: $162.0 million, up 24 percent from $130.6 million in the fourth quarter of 2009. GAAP's net profit was 51 per cent, compared with 48 per cent in the fourth quarter of 2009.
  • Operating profitability is not according to GAAP standards: $183.6 million, which is 20 percent more compared to $152.7 million for the fourth quarter of 2009. Non-GAAP net income was 58 per cent, compared with 56 per cent in the fourth quarter of 2009.
  • GAAP standards net income and diluted earnings per share: GAAP standards net income was $137.4 million, up 25 percent from $109.5 million for the fourth quarter of 2009. Diluted earnings per share by GAAP standards were $0.64, up 25 percent from $0.51 for the fourth quarter of 2009.
  • Net income and diluted earnings per share are not according to GAAP standards: net income under GAAP standards was $156.2 million, an increase of 21 percent compared to $129.5 million for the fourth quarter of 2009. Non-GAAP diluted earnings per share were $0.73, up 20 percent from $0.61 for the fourth quarter of 2009.
  • Deferred revenue: $464.6 million as of December 31, 2010, up 9 percent from $425.3 million as of December 31, 2009.
  • Cash flow: money from primary activity was 162.8 million dollars that is 18 percent more in comparison with 138.1 million dollars for the fourth quarter 2009.
  • Share repurchase program: for the fourth quarter of 2010, we bought 1.16 million shares with a total value of $50 million.
  • Cash and interest-bearing investments: $2,414.9 million as of December 31, 2010, up $567.9 million from $1,847.0 million as of December 31, 2009.

2008: Turnover growth by 11% to $808 million

Check Point's gross income for fiscal year 2008 was $808.5 million, up 11% from $730.9 million in 2007. GAAP's operating income was $356.5 million ($370.6 million in 2007). GAAP net profit reached $324 million, up 15% from $281.1 million in 2007. Non-GAAP net profit was $386 million, up 8% from $358.7 million in the previous year.

GAAP diluted share revenue was $1.5, up 20% from $1.25 for 2007; a similar non-GAAP figure was $1.78, which is 12% higher than the figure of $1.59 per 2007. Cash flow amounted to $429.9 million, which is 16% more than $371.6 million in 2007. The amount of cash and investments as of December 31, 2008 amounted to $1.444 billion.

During 2008, Check Point bought back only about 10.9 million shares totaling $239.5 million.

See also

Links

Notes


Stock price dynamics

Ticker company on the exchange: NASDAQ:CHKP