27 slides from Check Point Software Technologies's earnings presentation, Apr 23, 2025
Slide 1: 2025 First Quarter Financial Results
2025 First Quarter Financial Results April 23rd, 2025 Nadav Zafrir Roei Golan Kip E. Meintzer CEO CFO Global Head of IR ©2025 Check Point Software Technologies Ltd. 1
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation may contain certain forward-looking statements. These forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this report include, but are not limited to: Our expectations
Slide 3: Financial Results
Financial Results ©2025 Check©2025 Point Software Check Point Technologies Software Technologies Ltd. Ltd. 3
Slide 4: Q1-25 Revenues & EPS
Q1-25 Revenues & EPS Non-GAAP* $638M Revenues Actual $4 Million Above the Midpoint of Mid-Point our projections $619M $634M $649M EPS* $2.21 3 Cents Above the Midpoint of Actual our projections Mid-Point $2.13 $2.18 $2.23 *Non-GAAP excludes equity-based compensation charges, amortization of acquired
Slide 5: Billings & Remaining Performance Obligation Growth
Billings & Remaining Performance Obligation Growth Q1-24 Q1-25 Y/Y % Total Revenues $599M $638M 7% Deferred Revenues $1,826M $1,915M 5% Calculated Billings* $517M $553M 7% Remaining Performance Obligation** $2,179M $2,424M 11% * Calculated Billings is a measure that we defined as total revenues reco
Slide 6: Strong Quantum Force Appliances Demand
Strong Quantum Force Appliances Demand Products & Licenses Revenues + 14% Growth Y/Y ©2025 Check Point Software Technologies Ltd. 6
Slide 7: Strong Adoption – Industry Leading Security Platform
Strong Adoption – Industry Leading Security Platform Double-Digit Revenue Growth Q1-23 Q1-24 Q1-25 ©2025 Check Point Software Technologies Ltd. 7
Slide 8: Global Revenue Distribution – Growth in all GEO's
Global Revenue Distribution – Growth in all GEO’s +Americas + EMEA + APAC 42% 45% 13% +5% +6% +12% Q1-24 Q1-25 Q1-24 Q1-25 Q1-24 Q1-25 ©2025 Check Point Software Technologies Ltd. 8
Slide 9: Quarterly Operating Performance
Quarterly Operating Performance Non-GAAP* Q1-24 Q1-25 Y/Y YOY Total Revenues $599M $638M +7% Gross Profit $536M $564M +5% Operating Expenses $284M $305M +7% Operating Income $252M $259M +3% Net Income $235M $246M +5% EPS $2.04 $2.21 +9% *Non-GAAP excludes equity-based compensation charges, amortizat
Slide 10: Strong Cash Flow & Cash Position
Strong Cash Flow & Cash Position $421 Million Quarterly Operating Cash Flow +17% Growth $421M $2.9 Billion Cash, Marketable Securities & Y/Y $361M Short Term Deposits $325 Million First Quarter Share Repurchase Q1-24 Q1-25 ©2025 Check Point Software Technologies Ltd. 10
Slide 11: Financial Summary
– Revenues & EPS Above Midpoint of Projections – Accelerated Quantum Force Appliance Demand Financial Summary – Strong Operating Cash Flow – Consistent High Profitability Margins ©2025 Check Point Software Technologies Ltd. 11
Slide 12: Business Update
Business Update ©2025 Check©2025 Point Software Check Point Technologies Software Technologies Ltd. Ltd. 12
Slide 13: First 100 Days!
First 100 Days! ©2025 Check Point Software Technologies Ltd. 13
Slide 14: Securing the Hyperconnected World in the AI Era
OUR VISION Securing the Hyperconnected in the AI Era World Real Security Real Platform Real Time Prevention ©2025 Check Point Software Technologies Ltd. 14
Slide 15: Hybrid Mesh Architecture for Network Security
Hybrid Mesh Architecture for Network Security Data Branch FW Security & SD WAN E-Mail Data Center Security FW SASE Mobile Security Cloud FW & WAF SaaS Browser Security Security ©2025 Check Point Software Technologies Ltd. 15
Slide 16: Optimized for Flexibility, Performance & Cost
Optimized for Flexibility, Performance & Cost Cloud-Only Hybrid Mesh Connectivity Limited Agile SASE, On-Premises, Hybrid Security SASE Only Cloud, Edge, SaaS Cloud Cost High Low ©2025 Check Point Software Technologies Ltd. 16
Slide 17: Open Garden Approach
Open Garden Approach ©2025 Check Point Software Technologies Ltd. 17
Slide 18: Check Point Rated Leader for Enterprise Firewalls and AI-Powered Cyber Security Platform
Check Point Rated Leader for Enterprise Firewalls and AI-Powered Cyber Security Platform GigaOm® Radar for Enterprise Firewalls Top 10 Common Enterprise Use Cases STRONGER SECUROITY EFFICACY Cisco Security Efficacy Fortinet Palo Alto Networks Zscaler WEAKER SECURITY EFFICACY Weaker UX Admin and User
Slide 19: Doubling-Down
Doubling-Down Data Branch FW Security & SD WAN E-Mail Data Security Center FW SASE Mobile Security Cloud FW & WAF SaaS Browser Security Security ©2025 Check Point Software Technologies Ltd. 19
Slide 20: Today Focus
Today Data Security Branch FW & SD WAN Focus Hybrid SASE (On-Prem + New Development Center Cloud) in India E-Mail Data Center Security FW Serving Thousands of Scaling to Large Enterprises Customers SASE Unified Policy Across 10x Faster Hybrid Mesh Network Mobile Security Cloud FW & WAF Embedded Chec
Slide 21: Today Focus: AI
New CTO Jonathan Zanger Today Focus GEN AI Protect Launched AI Makers Protection (Visibility + Prevention) (Jailbreaks, Injection, etc.) Infinity Copilot Agents Expand GEN AI Protect Integrated into our Products Footprint Next-GEN AI Agents for Nvidia Partnership for AI Autonomous Security Data Cent
Slide 22: Securing the Workforce
New Organization Securing the Workforce Designated Offering to Secure Employees Single Product Experience Gil Friedrich, Part of Infinity Platform, VP Email Security Leverage ThreatCloud AI Building on Email Security’s Foundation ©2025 Check Point Software Technologies Ltd. 22
Slide 23: Business Outlook
Business Outlook ©2025 Check Point Software Technologies Ltd. 23
Slide 24: Business Outlook Commentary
Business Outlook Commentary Healthy Pipeline Our pipeline for the second quarter and second half of 2025 continues to build. We are very pleased with the customer response and the growing interest in the Infinity Platform, Quantum Force Appliances, and the additional technologies we have introduced.
Slide 25: Business Outlook
Business Outlook* Q2 2025 FY2025 (Remains Unchanged) Revenues $642M - $682M $2,660M-$2,760M Y/Y Growth 2% - 9% 4% - 8% Non-GAAP EPS** $2.32 - $2.42 $9.60- $10.20 Y/Y Growth 7% - 12% 5% - 11% GAAP EPS is Expected to be approximately 55 cents Less $2.00 Less * Based on information available to Check P
Slide 26: Q&A Session
Q&A Session ©2025 Check Point Software Technologies Ltd. 26
Slide 27: GAAP to Non-GAAP Consolidated Statement of Income Reconciliation
GAAP to Non-GAAP Consolidated Statement of Income Reconciliation Three Months Ended March 31, 2025 Three Months Ended March 31, 2024 Amortization of Amortization of intangible assets Taxes on intangible assets Taxes on Stock-based Stock-based (In millions, except per share amounts) GAAP and acquisit