Check Point reports: Croak the predictions and introduced annual growth in revenue

Cyber ​​security company Check Point Summary 2024 with high results from analysts forecasts. The company, which is currently run by Nadav Tsafrir, recorded $ 704 million in revenue and a net Non-GAAP profit of $ 2.70 per share, while the market expected $ 699 million in revenue and $ 2.65 per share.

The growth of revenue in the fourth quarter was 6.5%, with growth in all segments where the company operates. The net profit according to accepted accounting rules amounted to $ 258 million, a 3.3% increase over the corresponding quarter, and on the basis of Non-GAAP Check Point, a net profit of $ 303 million, an increase of 1.6%. The clean profit per share that was $ 2.70 increased at a higher rate of 5.1%, due to a decrease in Check Point’s shares following the continuation of the self-purchase it executes.

The company’s first quarter is $ 619-649 million in revenue, 3%-8%growth, and a clean non-GAAP profit of $ 2.13-2.23 per share. The middle of the forecast range is slightly higher than the analysts’ predictions but lower in profit.

In 2025, Check Point expects to grow by 4% -8% for revenue of $ 2.66-2.76 billion, with a clean NON-GAAP profit of $ 9.6-10.2 per share. The middle of the forecast is high from analysts’ predictions in both revenue and profit.

Shiid: “Outstanding quarter, which is a great way to my new role”

In the 2024, mostly managed by Gil Schwid, who is currently serving as the company’s active chairman, revenue was $ 2.57 billion, 6.2% growth over 2023-acceleration in growth compared to 4% last year. The company’s revenue from security subscribers bypassed its The $ 1 billion leak at the annual level after growing by 12.5% ​​to $ 1.1 billion.

The company recorded a net profit of $ 846 million, and the annual net profit based on Non-GAAP amounted to $ 1 billion, which is $ 9.16 a share. Check Point recognized $ 150 million in 2024 for the share reward for company employees.

During the past year, the company produced close to $ 1.1 billion from current operations, of which $ 249 million was last quarter. At the end of the year, she had close to $ 2.8 billion in the box, a decrease compared to the previous year, mainly due to the Israeli cyberian acquisition for $ 186 million.

According to active chairman, Shoyd: “We have presented an outstanding quarter, which is a great way to my new role.” He in particular stated the growth in Quantum Force, Harmony for Email Security and an extensive adoption of the Infinity Security Platform. ” You will reach new highs under the leadership of the new CEO Nadav Tsafrir. ”

Tsafrir said he thanked Amid and the board of directors of the opportunity to choose to lead the company. He said, “2024 was a successful year and provides a great springboard for 2025 and on. Cyber ​​security requirements around the world. Check Point has a bright future and we focus on increasing market chunks and growth. ”

Tsafrir has announced changes in management-Itai Greenberg has been appointed a new role of Chief Revenue Officer and in his previous role as the strategic manager and cloud and sase fields is replaced by Roy Caro. At the same time, the President of the Company Rupel Dutch announced its departure after three years in Check Point where she led the GO-TO-Market.

Check Point CEO reveals a new research center that the company is planning to set up

Speaking to journalists after the reports of the reports, Zafrir revealed that the company plans to set up a new research center for AI and Cyber ​​in Tel Aviv, with the investment of millions of dollars this year. The center will employ dozens of employees. “In the coming year, there is a very significant recruitment of talents in Israel and around the world, and in research and development, with emphasis on Israel,” Tsafrir said. He noted that the AI ​​changes the world of cyber security: “The world we go to in the coming years is another world. We all try to understand what effect of this new dimension of artificial intelligence, which we have entered in recent years. I think we have what we need to lead to lead the This world. ”

Asked with the recent gopolitics and events in the AI ​​direction from China, Tsafrir replied that geopolitical tensions, along with the new AI capabilities, only emphasize the critical of the need for cyber security solutions. “The use of AI is going to leap, there will be a lot of options, the price will fall and it will become more accessible, so security requirements will only increase,” Tzafrir said. According to him, the AI ​​provides the hackers from a new assault surface, and also much higher than they had before the accuracy and skill.

Tsafrir said that what he previously thought about Check Point was only strengthened when he came to the company, where he found a great technological depth and enthusiasm of the employees. He was asked if Check Point could reach a similar value to competitor Palo Alto (by Nir Tsuk) – Palo Alto trades $ 122 billion, expressing optimism: “We have technological depth, 30 years of experience, almost 100,000 customers, which means we have seen Almost every possible end. We have the people and partners. And there is room for optimism. ”

Shiid chose to summarize the three decades in which he played the CEO’s role, since he founded her with his partners. We came from less than $ 10 million in revenue before the offering (in 1996) to more than 250, a cost from $ 5 million to more than $ 1 billion, and the stock profit increased even more. The stock price has increased 80 times since the offering. I think the need for security is still a top priority and we are proud to be the ones who invented the industry, lead it and give the highest level of security. ”

Shoyd added that he enjoys his new role, and that “it is fun to take the pressure from daily operation. I hope Nadav will lead Check Point to new heights.

Check Point trades in NASDAC at a value of $ 22.4 billion, after an increase of 27.2% in the stock price in the past year. Yesterday, she returned to be the highest -value Israeli company, after the nature of nature fell as a result of its reports.