Second Quarter 2021:
Total Revenue:
Deferred Revenues:
GAAP Operating Income:
Non-GAAP Operating Income:
GAAP EPS:
Non-GAAP EPS:
Cash flow from operations:
"We had a good second quarter. Strong execution drove double-digit growth across CloudGuard and Harmony, and triple-digit growth in Infinity platform sales. Overall we grew our security subscription revenues by 12 percent," said
Financial Highlights for the Second Quarter of 2021:
Total Revenue:
GAAP Operating Income:
Non-GAAP Operating Income:
GAAP Taxes on Income:
GAAP Net Income:
Non-GAAP Net Income:
GAAP Earnings per Diluted share:
Non-GAAP Earnings per Diluted share:
Deferred Revenues: As of
Cash Balances,
Cash Flow: Cash flow from operations of
Share Repurchase Program: During the second quarter of 2021, the company repurchased approximately 2.7 million shares at a total cost of approximately
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."
Business Highlights
In June,
Check Point R81.10 software: New version of the Cyber Security platform delivers major improvements in security operational efficiency with unified security management from the web browser and parallel multi-admin support.
The latest Quantum Maestro 175: Enables Quantum gateway orchestration to the capacity and performance of 52 gateways in minutes, giving companies elastic flexibility with
Quantum Smart-1: Security Management appliances provide advanced protections for complex hybrid data centers with automated operations and an ultra-scalable platform.
To support the new 'work from anywhere' (WFA) environment, organizations accelerated their transition to the cloud which left them vulnerable to cloud-targeted attacks. Check Point expanded the capabilities of its unified Cloud Native Security Platform, to deliver application-first workload protection with Check Point CloudGuard Workload Protection. This fully automated cloud workload security solution empowers security teams with tools to automate security across applications, Application Programing Interfaces (APIs) and microservices from development to runtime via a single interface.
Check Point extended its multi-cloud support through the integration of Check Point CloudGuard with
Partnerships & Customers
Throughout the quarter, Check Point demonstrated its ongoing commitment to provide cyber-security education and training at all levels. In May, Check Point launched the Global Cloud Academy Education with its
In April,
In July,
Research & Cyber Security
Ransomware attacks continue to Surge, hitting a 93% increase year over year:
Vulnerabilities in Applications & Infrastructure:
Security Flaws in Atlassian's Platform Led to Account Takeover in One Click:
Four Security Vulnerabilities were found in Microsoft Office: Four security vulnerabilities affected products in the Microsoft Office suite, including Excel and Office online. If exploited, the vulnerabilities would grant an attacker the ability to execute code on targets via malicious Office documents, such as Word (.DOCX), Excel (.XLS) and Outlook (.EML). The vulnerabilities are the result of parsing mistakes made in legacy code found in Excel95 File Formats, giving researchers reason to believe that the security flaws have existed for several years.
Misconfiguration of third party cloud services exposed data of over 100 million users: After examining 23 Android applications on
Companies' 5 Million Personal identifiable information records detected on an AWS service due to misconception of users: By analyzing and enumerating public AWS Systems Manager (SSM) documents, CPR retrieved over five million personally identifiable information records and credit card transactions of companies, including a global sportswear manufacturer.
Android users' privacy at risk as
Cybercriminals go after Amazon Prime Day Shoppers: Cybercriminals impersonated the Amazon brand ahead of the annual shopping event in order to trick consumers into credential theft of their email addresses, payment details and passwords, and more. In the run-up to Amazon Prime Day 2021, nearly 80% of domains containing the word "Amazon" were potentially dangerous.
New 'ToxicEye' RAT is the latest to use Telegram for command & control: There is a growing cyber threat where hackers use Telegram, the instant messaging app with over 500 million active users, as a command and control system to distribute malware into organizations. Even when Telegram is not installed or being used, the system allows hackers to send malicious commands and operations remotely via the instant messaging app.
Research & Recognitions
We continued our focus on security through innovation, industry research and recognition including:
Secure Access Service Edge (SASE) Solutions are the Future: Survey Uncovers Organizations' Security Priorities for Hybrid Working: Check Point revealed the results from a survey showing how organizations have been impacted by the pandemic, particularly when it comes to IT and security strategies. The survey of 450 IT and security professionals revealed the impact that the pandemic has had on organizations as well as their security priorities for the hybrid workplace
Check Point Software Technologies Recognized as a Microsoft Security 20/20 Partner Award Winner for Most Transformative Integration Partner: At the second annual Microsoft Security 20/20 Awards held
MITRE Engenuity ATT&CK®
Conference Call and Webcast Information
Check Point will host a conference call with the investment community on
Third Quarter Investor Conference Participation Schedule:
Oppenheimer 24rd Annual Virtual
BMO 2021 Virtual Technology Summit
Citi 2021
Jefferies 2021
Morningstar Management Behind
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 access these presentations and the most updated information please visit the company's web site at www.checkpoint.com/ir. The schedule is subject to change.
About
©2021
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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, statements related to our expectations regarding our products and solutions and partnerships, the effects on our business of the COVID-19 pandemic, expectations related to our new channel initiatives, and our participation in investor conferences during the third quarter of 2021. 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 continued effects on our business of the COVID-19 pandemic, the market for IT security continuing to develop; competition from other products and services; and general market, political, economic and business conditions. 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
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 in order 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.
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