Latest news with #NadavZafrir
Reuters
30-07-2025
- Business
- Reuters
Israel's Check Point Software aims to go it alone as cyber security sales rise
JERUSALEM, July 30 (Reuters) - The CEO of Check Point Software Technologies (CHKP.O), opens new tab said the Israeli company was not looking to be bought out like some local rivals, as it reported a second-quarter profit boosted by higher sales of products to protect and prevent corporate networks from cyber threats. Nadav Zafrir on Wednesday said the network security company, which is valued at $24 billion and whose Nasdaq-listed shares are up 17% so far this year, would prefer to use its $3 billion cash pile on its own acquisitions. A day earlier the Wall Street Journal reported that Palo Alto Networks (PANW.O), opens new tab was in talks to acquire Israeli rival CyberArk Software in a deal that could be worth more than $20 billion, while Google is buying Wiz for $32 billion Zafrir told reporters his company, which operates an open platform, had not been approached by Palo Alto, nor was it interested. "We have a be the number one player in the acquisitions are definitely a part of that," Zafrir said. "We always have the option to either build it or buy it, or do both at the same time," he said. Check Point reported earnings of $2.37 per diluted share excluding one-off items for the April-June quarter, up 9% from a year earlier and broadly in line with the $2.36 expected by analysts, according to LSEG data. Revenue grew 6% to $665 million, just topping LSEG's forecast of $662 million. Product and licence revenue rose 12% to $132 million in the quarter, while security subscription revenue gained 10% to $298 million. Zafrir said the third quarter is "shaping up well with strong July indicators". "We have a healthy pipeline heading into the second half of the year underscoring our full-year outlook," he added. Check Point bought back 1.5 million of its own shares at a total cost of about $325 million in the second quarter.
CNA
30-07-2025
- Business
- CNA
Israel's Check Point Software aims to go it alone as cyber security sales rise
JERUSALEM :The CEO of Check Point Software Technologies said the Israeli company was not looking to be bought out like some local rivals, as it reported a second-quarter profit boosted by higher sales of products to protect and prevent corporate networks from cyber threats. Nadav Zafrir on Wednesday said the network security company, which is valued at $24 billion and whose Nasdaq-listed shares are up 17 per cent so far this year, would prefer to use its $3 billion cash pile on its own acquisitions. A day earlier the Wall Street Journal reported that Palo Alto Networks was in talks to acquire Israeli rival CyberArk Software in a deal that could be worth more than $20 billion, while Google is buying Wiz for $32 billion Zafrir told reporters his company, which operates an open platform, had not been approached by Palo Alto, nor was it interested. "We have a be the number one player in the acquisitions are definitely a part of that," Zafrir said. "We always have the option to either build it or buy it, or do both at the same time," he said. Check Point reported earnings of $2.37 per diluted share excluding one-off items for the April-June quarter, up 9 per cent from a year earlier and broadly in line with the $2.36 expected by analysts, according to LSEG data. Revenue grew 6 per cent to $665 million, just topping LSEG's forecast of $662 million. Product and licence revenue rose 12 per cent to $132 million in the quarter, while security subscription revenue gained 10 per cent to $298 million. Zafrir said the third quarter is "shaping up well with strong July indicators". "We have a healthy pipeline heading into the second half of the year underscoring our full-year outlook," he added.
Globe and Mail
30-07-2025
- Business
- Globe and Mail
Check Point Software Reports 2025 Second Quarter Financial Results
TEL AVIV, Israel, July 30, 2025 (GLOBE NEWSWIRE) -- Check Point® Software Technologies Ltd. (NASDAQ: CHKP), today announced its financial results for the quarter ended June 30 th, 2025. Second Quarter 2025 Financial Highlights: Total Revenues: $665 million, a 6 percent increase year over year Products & Licenses Revenues: $132 million, a 12 percent increase year over year Security Subscriptions Revenues: $298 million, a 10 percent increase year over year Calculated Billings*: $642 million, a 4 percent increase year over year Remaining Performance Obligation (RPO)**: $2.4 billion, a 6 percent increase year over year GAAP Operating Income: $204 million, representing 31 percent of total revenues Non-GAAP Operating Income: $271 million, representing 41 percent of total revenues GAAP EPS: $1.84, a 6 percent increase year over year Non-GAAP EPS: $2.37, a 9 percent increase year over year 'We delivered solid second-quarter results, driven by growth in our emerging technologies portfolio including Email, SASE, and Enterprise Risk Management. Quantum Force appliances continued a double-digit growth trajectory, reflecting strong customer trust in our innovation and prevention-first ethos,' said CEO Nadav Zafrir. 'We continued to advance our strategic roadmap with the acquisition of Veriti, strengthening the Infinity platform's open-garden architecture. The third quarter is shaping up well with strong July indicators. We have a healthy pipeline heading into the second half of the year underscoring our full-year outlook.' Financial Commentary Cash Balances, Marketable Securities & Short-Term Deposits: $2,913 million as of June 30, 2025, compared to $3,058 million as of June 30, 2024. The decrease in cash is primarily a result of $186 million and $84 million net of cash consideration utilized for Cyberint Ltd. and Veriti Ltd acquisitions in 2024 and 2025, respectively. Share Repurchase Program: During the second quarter of 2025, the company re-purchased approximately 1.5 million shares at a total cost of approximately $325 million. Cash Flow: Cash flow from operations in the second quarter of 2025 was $262 million, which included $50 million in benefit related to our currency hedging transactions, while acquisition-related costs were $6 million. This compares to $200 million in the second quarter of 2024, which included $14 million of expenses related to our currency hedging transactions, while acquisition-related costs were insignificant. For information regarding the non-GAAP financial measures discussed in this release, as well as a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures, please see 'Use of Non-GAAP Financial Information' and 'Reconciliation of GAAP to Non-GAAP Financial Information.' * Calculated Billings is a measure that we defined as total revenues recognized in accordance with GAAP plus the change in Total Deferred Revenues during the period. ** Remaining Performance Obligation (RPO) is a measure that represents the total value of non-cancellable contracted products and/or services that are yet to be recognized as Revenue as of June 30, 2025. Conference Call and Webcast Information Check Point will host a conference call with the investment community on July 30, 2025, at 8:30 AM ET/5:30 AM PT. To listen to the live video cast or replay, please visit the website: Third Quarter Investor Conference Participation Schedule: Members of Check Point's management team are expected to present at these conferences and discuss the latest company strategies and initiatives. Check Point's conference presentations are expected to be available via webcast on the company's web site. To hear these presentations and access the most updated information please visit the company's web site at The schedule is subject to change. Follow Check Point via: Twitter: Facebook: Blog: YouTube: LinkedIn: About Check Point Software Technologies Ltd. Check Point Software Technologies Ltd. ( is a leading AI-powered, cloud-delivered cyber security platform provider protecting over 100,000 organizations worldwide. Check Point leverages the power of AI everywhere to enhance cyber security efficiency and accuracy through its Infinity Platform, with industry-leading catch rates enabling proactive threat anticipation and smarter, faster response times. The comprehensive platform includes cloud-delivered technologies consisting of Check Point Harmony to secure the workspace, Check Point CloudGuard to secure the cloud, Check Point Quantum to secure the network, and Check Point Infinity Core Services for collaborative security operations and services. Legal Notice Regarding Forward-Looking Statements This press release contains forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, expectations regarding our products and solutions, expectations regarding our full-year outlook and our participation in investor conferences and other events during the third quarter of 2025. Our expectations and beliefs regarding these matters may not materialize, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected. These risks include our ability to continue to develop platform capabilities and solutions; customer acceptance and purchase of our existing solutions and new solutions; the market for IT security continuing to develop; competition from other products and services; appointments and departures of our executive officers; and general market, political, economic, and business conditions, including acts of terrorism or war. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 17, 2025. The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking statements, except as required by law. Use of Non-GAAP Financial Information In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, Check Point uses non-GAAP measures of operating income, net income and earnings per diluted share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets and acquisition related expenses and the related tax affects. Check Point's management believes the non-GAAP financial information provided in this release is useful to investors' understanding and assessment of Check Point's ongoing core operations and prospects for the future. Historically, Check Point has also publicly presented these supplemental non-GAAP financial measures to assist the investment community to see the company 'through the eyes of management,' and thereby enhance understanding of its operating performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures discussed in this press release to the most directly comparable GAAP financial measures is included with the financial statements contained in this press release. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such has determined that it is important to provide this information to investors. (Unaudited, in millions, except per share amounts) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Revenues: Products and licenses $ 131.9 $ 118.1 $ 246.0 $ 218.4 Security subscriptions 297.9 271.7 588.5 535.1 Total revenues from products and security subscriptions 429.8 389.8 834.5 753.5 Software updates, maintenance and services 235.4 237.6 468.5 472.7 Total revenues 665.2 627.4 1,303.0 1,226.2 Operating expenses: Cost of products and licenses 26.2 24.0 49.2 43.9 Cost of security subscriptions 23.0 16.8 44.4 33.3 Total cost of products and security subscriptions 49.2 40.8 93.6 77.2 Cost of Software updates and maintenance 34.2 31.6 66.3 60.3 Amortization of technology 7.8 5.8 15.4 11.6 Total cost of revenues 91.2 78.2 175.3 149.1 Research and development 112.8 97.1 214.9 196.3 Selling and marketing 227.8 215.7 453.2 421.9 General and administrative 29.8 27.1 60.5 55.7 Total operating expenses 461.6 418.1 903.9 823.0 Operating income 203.6 209.3 399.1 403.2 Financial income, net 28.5 23.7 55.8 46.3 Income before taxes on income 232.1 233.0 454.9 449.5 Taxes on income 29.3 35.6 61.2 68.2 Net income $ 202.8 $ 197.4 $ 393.7 $ 381.3 Basic earnings per share $ 1.89 $ 1.78 $ 3.66 $ 3.42 Number of shares used in computing basic earnings per share 107.1 111.1 107.5 111.6 Diluted earnings per share $ 1.84 $ 1.74 $ 3.55 $ 3.34 Number of shares used in computing diluted earnings per share 110.4 113.6 110.9 114.2 Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 GAAP operating income $ 203.6 $ 209.3 $ 399.1 $ 403.2 Stock-based compensation (1) 45.9 39.3 87.1 80.9 Amortization of intangible assets and acquisition related expenses (2) 21.6 16.5 43.5 33.0 Non-GAAP operating income $ 271.1 $ 265.1 $ 529.7 $ 517.1 GAAP net income $ 202.8 $ 197.4 $ 393.7 $ 381.3 Stock-based compensation (1) 45.9 39.3 87.1 80.9 Amortization of intangible assets and acquisition related expenses (2) 21.6 16.5 43.5 33.0 Taxes on the above items (3) (8.9) (7.2) (16.7) (14.7) Non-GAAP net income $ 261.4 $ 246.0 $ 507.6 $ 480.5 Diluted GAAP earnings per share $ 1.84 $ 1.74 $ 3.55 $ 3.34 Stock-based compensation (1) 0.41 0.34 0.78 0.70 Amortization of intangible assets and acquisition related expenses (2) 0.20 0.15 0.40 0.30 Taxes on the above items (3) (0.08) (0.06) (0.15) (0.13) Diluted Non-GAAP earnings per share $ 2.37 $ 2.17 $ 4.58 $ 4.21 Number of shares used in computing diluted Non-GAAP earnings per share 110.4 113.6 110.9 114.2 (1) Stock-based compensation: Cost of products and licenses $ 0.1 $ 0.1 $ 0.2 $ 0.2 Cost of software updates and maintenance 3.2 2.2 5.3 4.4 Research and development 17.9 13.6 32.6 28.3 Selling and marketing 17.5 14.9 32.1 30.8 General and administrative 7.2 8.5 16.9 17.2 45.9 39.3 87.1 80.9 (2) Amortization of intangible assets and acquisition related expenses: Amortization of technology-cost of revenues 7.8 5.8 15.4 11.6 Research and development 1.1 1.6 2.6 3.2 Selling and marketing 12.7 9.1 25.5 18.2 21.6 16.5 43.5 33.0 (3) Taxes on the above items (8.9) (7.2) (16.7) (14.7) Total, net $ 58.6 $ 48.6 $ 113.9 $ 99.2 CHECK POINT SOFTWARE TECHNOLOGIES LTD. (In millions) ASSETS June 30, December 31, 2025 (Unaudited) 2024 (Audited) Current assets: Cash and cash equivalents $ 611.7 $ 506.2 Marketable securities and short-term deposits 912.7 865.7 Trade receivables, net 467.7 728.8 Prepaid expenses and other current assets 104.9 92.7 Total current assets 2,097.0 2,193.4 Long-term assets: Marketable securities 1,389.0 1,411.9 Property and equipment, net 83.6 80.8 Deferred tax asset, net 76.2 74.7 Goodwill and other intangible assets, net 1,949.0 1,897.1 Other assets 91.9 96.6 Total long-term assets 3,589.7 3,561.1 Total assets $ 5,686.7 $ 5,754.5 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Deferred revenues $ 1,352.7 $ 1,471.3 Trade payables and other accrued liabilities 407.4 472.9 Total current liabilities 1,760.1 1,944.2 Long-term liabilities: Long-term deferred revenues 540.0 529.0 Income tax accrual 517.1 459.6 Other long-term liabilities 34.7 32.3 1,091.8 1,020.9 Total liabilities 2,851.9 2,965.1 Shareholders' equity: Share capital 0.8 0.8 Additional paid-in capital 3,255.4 3,049.5 Treasury shares at cost (14,860.9) (14,264.4) Accumulated other comprehensive gain (loss) 32.0 (10.3) Retained earnings 14,407.5 14,013.8 Total shareholders' equity 2,834.8 2,789.4 Total liabilities and shareholders' equity $ 5,686.7 $ 5,754.5 Total cash and cash equivalents, marketable securities and short-term deposits $ 2,913.4 $ 2,783.8 (Unaudited, in millions) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Cash flow from operating activities: Net income $ 202.8 $ 197.4 $ 393.7 $ 381.3 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation of property and equipment 5.7 5.2 10.9 12.5 Amortization of intangible assets 19.6 13.5 38.8 27.0 Stock-based compensation 45.9 39.3 87.1 80.9 Realized loss on marketable securities - - 0.1 - Decrease (increase) in trade and other receivables, net (75.0) (75.0) 254.4 190.4 Increase (decrease) in deferred revenues, trade payables and other accrued liabilities 66.7 18.9 (75.4) (121.7) Deferred income taxes, net (3.6) 0.6 (26.4) (9.5) Net cash provided by operating activities 262.1 199.9 683.2 560.9 Cash flow from investing activities: Payment in conjunction with acquisitions, net of acquired cash (83.7) - (83.7) - Investment in property and equipment (6.1) (6.4) (13.5) (12.9) Net cash used in investing activities (89.8) (6.4) (97.2) (12.9) Cash flow from financing activities: Proceeds from issuance of shares upon exercise of options 138.7 158.6 184.7 204.2 Purchase of treasury shares (325.0) (325.0) (650.0) (650.0) Payments related to shares withheld for taxes (12.8) (12.1) (14.3) (13.2) Net cash used in financing activities (199.1) (178.5) (479.6) (459.0) Unrealized gain on marketable securities, net 8.2 7.6 23.2 9.2 Increase (decrease) in cash and cash equivalents, marketable securities and short-term deposits (18.6) 22.6 129.6 98.2 Cash and cash equivalents, marketable securities and short-term deposits at the beginning of the period 2,932.0 3,035.3 2,783.8 2,959.7 Cash and cash equivalents, marketable securities and short-term deposits at the end of the period $ 2,913.4 $ 3,057.9 $ 2,913.4 $ 3,057.9
Yahoo
17-06-2025
- Business
- Yahoo
"The Davos of Cybersecurity": Team8's CISO Village Summit 2025 Gathers Cybersecurity Leaders from the NSA, Google, Checkpoint, Wiz, and more to Redefine Defense and Resilience in the Age of AI
Charm Security and Fig Security are the big winners of the CISO Village Choice 2025 NEW YORK, June 17, 2025--(BUSINESS WIRE)--Last week, Team8, a global venture fund that builds and invests in companies across cybersecurity, data, AI, fintech, and digital health, as well as at their intersections, hosted its flagship CISO Village Summit 2025. The immersive five-day gathering in Miami and the Florida Keys brought together more than 100 out of the 600-strong CISO village representing the most influential companies in the world Under the theme "Cyber Resilience at Machine Speed: AI as Your Force Multiplier" this year's summit explored the rapidly changing cybersecurity landscape amid the rise of generative AI and autonomous technologies, examining how artificial intelligence is transforming both the nature of threats, the defenses built to counter them and the tantamount important of the people and communities behind them. Known as the "Davos of Cybersecurity," the CISO Village Summit featured a curated lineup of thought leaders, public officials, and industry pioneers, including: Anne Neuberger, former Deputy National Security Advisor for Cyber and Emerging Technology ; Nadav Zafrir, CEO of Check Point and Team8 Co-Founder; Ami Luttwak, CTO and Co-Founder of Wiz; Admiral Mike Rogers, former NSA Director and Team8 Operating Partner; Phil Venables, Former CISO of Google Cloud; Rich Baich, CISO at AT&T Marene Allison, former CISO of Johnson & Johnson; Jason Clinton, CISO of Anthropic; Dylan Patel, CEO of SemiAnalysis A key highlight was the 3rd annual CISO Village Choice Awards, held in partnership with Discount Bank and IDB Bank. Fifteen emerging cybersecurity startups showcased to their solutions to a highly engaged audience of global security executives. Charm Security won the Best Innovation Award, followed by Orchid Security as runner-up. Fig Security took home the Best Performance Award, with Astelia named runner-up. Notably, previous winners such as Dig Security (acquired by Palo Alto Networks) and Nagomi Security have achieved significant industry milestones. Departing from the traditional conference model, the summit was designed to break down silos, both technical and organizational. Through war-room simulations, candid 'unconference' debates, and hands-on threat modeling, participants were encouraged to confront today's biggest challenges in real time. Just as important were the wellness and connection experiences: mornings began with run clubs, floating meditation, and breathwork, while days and evenings included keynotes from 4-Time Olympic gold medalist Anthony Ervin and Leadership Expert David Mead, alongside intimate dinners. In one case, a participant at the end of the Summit added that "I feel like I was lost and found my people." The significance of the theme in this moment in time was particularly poignant: "Speed is the defining challenge in security today. Historically, back to the '90s and 2000s, we had traditional infrastructure and the risks associated with it. Then came the cloud, and the time it took to address cloud-related issues started to shrink. Now we're in the age of AI, and that timeframe is shrinking even more. Our ability to embrace AI, to think ahead and find innovative ways to reduce that speed is going to be critical." - Rich Baich, CISO at AT&T Liran Grinberg, Team8 Co-founder & Managing Partner and Amir Zilberstien, Team8 Managing Partner spoke on the power of the summit and said, "While the summit was a resounding success, the recent tragic events in Israel are a reminder of how critical it is for global leaders to build resilience in the face of escalating threats, both digital and physical. The greatest cybersecurity risk today is isolation, when defenders are left disconnected from one another, the technology, and the communities they serve, falters. This summit is designed to give them the platform, perspective, and global community they need to lead at machine speed." View source version on Contacts Ilan Fisher,Global Media Manager+972-50-460-7429
Business Wire
17-06-2025
- Business
- Business Wire
" The Davos of Cybersecurity": Team8's CISO Village Summit 2025 Gathers Cybersecurity Leaders from the NSA, Google, Checkpoint, Wiz, and more to Redefine Defense and Resilience in the Age of AI
NEW YORK--(BUSINESS WIRE)--Last week, Team8, a global venture fund that builds and invests in companies across cybersecurity, data, AI, fintech, and digital health, as well as at their intersections, hosted its flagship CISO Village Summit 2025. The immersive five-day gathering in Miami and the Florida Keys brought together more than 100 out of the 600-strong CISO village representing the most influential companies in the world Under the theme 'Cyber Resilience at Machine Speed: AI as Your Force Multiplier' this year's summit explored the rapidly changing cybersecurity landscape amid the rise of generative AI and autonomous technologies, examining how artificial intelligence is transforming both the nature of threats, the defenses built to counter them and the tantamount important of the people and communities behind them. Known as the 'Davos of Cybersecurity,' the CISO Village Summit featured a curated lineup of thought leaders, public officials, and industry pioneers, including: Anne Neuberger, former Deputy National Security Advisor for Cyber and Emerging Technology ; Nadav Zafrir, CEO of Check Point and Team8 Co-Founder; Ami Luttwak, CTO and Co-Founder of Wiz; Admiral Mike Rogers, former NSA Director and Team8 Operating Partner; Phil Venables, Former CISO of Google Cloud; Rich Baich, CISO at AT&T Marene Allison, former CISO of Johnson & Johnson; Jason Clinton, CISO of Anthropic; Dylan Patel, CEO of SemiAnalysis A key highlight was the 3rd annual CISO Village Choice Awards, held in partnership with Discount Bank and IDB Bank. Fifteen emerging cybersecurity startups showcased to their solutions to a highly engaged audience of global security executives. Charm Security won the Best Innovation Award, followed by Orchid Security as runner-up. Fig Security took home the Best Performance Award, with Astelia named runner-up. Notably, previous winners such as Dig Security (acquired by Palo Alto Networks) and Nagomi Security have achieved significant industry milestones. Departing from the traditional conference model, the summit was designed to break down silos, both technical and organizational. Through war-room simulations, candid 'unconference' debates, and hands-on threat modeling, participants were encouraged to confront today's biggest challenges in real time. Just as important were the wellness and connection experiences: mornings began with run clubs, floating meditation, and breathwork, while days and evenings included keynotes from 4-Time Olympic gold medalist Anthony Ervin and Leadership Expert David Mead, alongside intimate dinners. In one case, a participant at the end of the Summit added that 'I feel like I was lost and found my people.' The significance of the theme in this moment in time was particularly poignant: "Speed is the defining challenge in security today. Historically, back to the '90s and 2000s, we had traditional infrastructure and the risks associated with it. Then came the cloud, and the time it took to address cloud-related issues started to shrink. Now we're in the age of AI, and that timeframe is shrinking even more. Our ability to embrace AI, to think ahead and find innovative ways to reduce that speed is going to be critical." - Rich Baich, CISO at AT&T Liran Grinberg, Team8 Co-founder & Managing Partner and Amir Zilberstien, Team8 Managing Partner spoke on the power of the summit and said, 'While the summit was a resounding success, the recent tragic events in Israel are a reminder of how critical it is for global leaders to build resilience in the face of escalating threats, both digital and physical. The greatest cybersecurity risk today is isolation, when defenders are left disconnected from one another, the technology, and the communities they serve, falters. This summit is designed to give them the platform, perspective, and global community they need to lead at machine speed.'
