REDWOOD CITY, Calif. - Check Point Software Technologies Ltd. (NASDAQ:CHKP), a leader in cyber security solutions, announced today the launch of its new Check Point Quantum (NASDAQ:QMCO) Firewall Software (ETR:SOWGn) R82 (R82), which aims to bolster enterprise defenses amidst a global 75% rise in cyber-attacks. The R82 introduces AI-driven engines designed to thwart zero-day threats such as phishing, malware, and DNS exploits.
Nataly Kremer, Chief Product Officer at Check Point, emphasized the importance of network security and the company's commitment to delivering AI-powered, operationally simple, and resilient threat prevention tools. The R82 offers over 50 new capabilities to enterprise customers. These include advanced AI-Powered Threat Prevention, which blocks 99.8% of zero-day threats and leverages four new AI engines to protect against sophisticated phishing and malware campaigns.
The product also focuses on Agile Datacenter Operations, which supports accelerated app development through automated security policy integration. This benefit is especially relevant for DevOps, as it allows for three times faster provisioning of virtual systems.
Operational Simplicity (NASDAQ:SMPL) is another key feature, ensuring scalable network security that adapts automatically to business growth and traffic spikes. The R82 enables organizations to achieve resilience with ElasticXL technology, which provides built-in load sharing and clustering.
Additionally, the R82 incorporates Post-Quantum Cryptography (PQC) with the latest NIST-approved cryptography Kyber (ML-KEM), safeguarding encrypted data against future quantum computing threats.
Frank Dickson, IDC Group Vice President of Security and Trust, commented on the necessity of AI, automation, and adaptability in maintaining effective network security. He noted that Check Point's solutions are designed to support business innovation at the pace of DevOps while delivering high-performance AI threat prevention.
Check Point's suite of AI-powered threat prevention innovations also includes Check Point Infinity AI Copilot, GenAI Protect, and Infinity External Risk Management (ERM), all of which contribute to the company's comprehensive cyber security platform.
Jeff Burgess, Manager I.T. Enterprise at Aviation Technical Services, testified to the operational value and performance increase experienced with the upgrade to the Quantum Firewall Software R82.
The announcement follows Check Point's recognition as a leader in both The Forrester Wave™: Enterprise Firewalls, Q4 2024 report and The Forrester Wave™: Zero Trust Platform Providers, Q3 2023 report.
This news is based on a press release statement from Check Point Software Technologies Ltd.
In other recent news, SolarEdge Technologies (NASDAQ:SEDG) elected Avery More as the new Chairman of the Board of Directors, succeeding Nadav Zafrir, who will continue to serve as a board member. Guy Gecht, former CEO of Electronics for Imaging and interim CEO at Logitech (NASDAQ:LOGI), also joined the board, bringing his expertise in technology, AI, and cybersecurity. These changes follow the departure of Tal Payne from the board.
Meanwhile, Check Point Software Technologies Ltd. reported a 7% year-over-year revenue increase to $635 million in the third quarter of 2024, with a non-GAAP EPS rise of 9% to $2.25. Subscription revenue and calculated billings grew by 12% and 6% respectively, despite some deals being postponed to the fourth quarter. The company's recent acquisition of Cyberint for $186 million is set to enhance security operations capabilities.
Check Point Software also reported Harmony (JO:HARJ) Email surpassing $100 million in annual recurring revenue. Revenue growth was noted across the Americas, EMEA, and APAC regions, with increases of 3%, 7%, and 17% respectively. The company maintains a positive outlook for the fourth quarter and 2025, driven by strong demand and strategic acquisitions. However, an increase in operating expenses by 9% due to workforce investments and acquisitions, and revenue recognition volatility due to the flexible billing model of Infinity were acknowledged as challenges.
InvestingPro Insights
Check Point Software Technologies Ltd.'s (NASDAQ:CHKP) latest product launch aligns well with its strong financial position and market performance. According to InvestingPro data, the company boasts a market capitalization of $19.2 billion USD, reflecting its significant presence in the cybersecurity sector.
The company's focus on AI-driven solutions and operational simplicity in its new R82 firewall software is supported by its impressive financial metrics. Check Point's gross profit margin stands at a remarkable 88.62% for the last twelve months as of Q3 2023, indicating a highly efficient operation and strong pricing power in the competitive cybersecurity market.
InvestingPro Tips highlight that Check Point holds more cash than debt on its balance sheet, which provides the company with financial flexibility to invest in innovative products like the R82 and respond quickly to market demands. This solid financial footing is crucial in an industry where staying ahead of evolving cyber threats is paramount.
Moreover, the company's aggressive share buyback program, as noted in another InvestingPro Tip, suggests management's confidence in the company's future prospects and commitment to delivering shareholder value. This aligns with the company's strategy to invest in cutting-edge technologies while maintaining a strong market position.
For investors seeking more comprehensive insights, InvestingPro offers 11 additional tips for Check Point Software Technologies, providing a deeper understanding of the company's financial health and market position.
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