25 slides from Check Point Software Technologies's earnings presentation, Jan 30, 2025
Slide 1: 2024 Fourth Quarter & Full Year Financial Results
2024 Fourth Quarter & Full Year Financial Results January 30th, 2025 Gil Shwed Nadav Zafrir Roei Golan Kip E. Meintzer Founder & Exec Chair 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 Point Software Technologies Ltd. 3
Slide 4: Q4-24 Revenues & EPS
Q4-24 Revenues & EPS Non-GAAP* $704M Revenues Actual $9 Million Above the Midpoint of Mid-Point our projections $675M $695M $715M EPS* $2.70 Actual At the Top-End of our Projections Mid-Point $2.60 $2.65 $2.70 *Non-GAAP excludes equity-based compensation charges, amortization of acquired intangibles
Slide 5: 2024 Full Year - Revenues & EPS
2024 Full Year - Revenues & EPS Non-GAAP* $2,565M Revenues Actual $15 Million Above the Midpoint Mid-Point of our projections $2,475M $2,550M $2,625M EPS* $9.16 16 Cents Above the Midpoint of Actual our projections Mid-Point $8.70 $9.00 $9.30 *Non-GAAP excludes equity-based compensation charges, amo
Slide 6: Double-Digit Calculated Billings & RPO Growth
Double-Digit Calculated Billings & RPO Growth Q4-23 Q4-24 Y/Y % Total Revenues $664M $704M 6% Deferred Revenues $1,908M $2,000M 5% Calculated Billings* $862M $959M 11% Remaining Performance Obligation** $2,249M $2,516M 12% * Calculated Billings is a measure that we defined as total revenues recogniz
Slide 7: Strong Quantum Force Demand
Strong Quantum Force Demand Products & Licenses Revenues $171M +8% Growth Y/Y Trend % +8% +4% Y/Y +1% Q1-24 Q2-24 Q3-24 Q4-24 -7% ©2025 Check Point Software Technologies Ltd. 7
Slide 8: Strong Adoption – Industry Leading Security Platform
Strong Adoption – Industry Leading Security Platform Double-Digit Revenue Growth Q4-22 Q4-23 Q4-24 ©2025 Check Point Software Technologies Ltd. 8
Slide 9: Global Revenues Distribution – Growth in all GEO's
Global Revenues Distribution – Growth in all GEO’s +Americas + EMEA + APAC +6% +3% +19% Q4-23 Q4-24 Q4-23 Q4-24 Q4-23 Q4-24 ©2025 Check Point Software Technologies Ltd. 9
Slide 10: Quarterly Operating Performance
Quarterly Operating Performance Non-GAAP* Q4-23 Q4-24 Y/Y YOY Total Revenues $664M $704M 6% Gross Profit $591M $623M 6% Gross Margin 89% 89% Research and Development $84M $89M 6% Sales and Marketing $176M $207M 18% General and Administrative $22M $21M -3% Operating Expenses $282M $317M 12% Operating
Slide 11: Quarterly Net Income & EPS – Industry Leading Profitability
Quarterly Net Income & EPS – Industry Leading Profitability Non-GAAP* Q4-23 Q4-24 Y/Y YOY Operating Income $309M $306M -1% Financial Income, Net $18M $25M Tax Expenses $29M $28M Net Income $298M $303M 2% Net Margin 45% 43% EPS $2.57 $2.70 5% *Non-GAAP excludes equity-based compensation charges, amor
Slide 12: Full Year Operating Performance
Full Year Operating Performance Non-GAAP* 2023 2024 Y/Y YOY Total Revenues $2,415M $2,565M 6% Gross Profit $2,154M $2,279M 6% Gross Margin 89% 89% Research and Development $313M $335M Sales and Marketing $677M $764M General and Administrative $85M $82M Operating Expenses $1,075M $1,181M 10% Operatin
Slide 13: Full Year Net Income & EPS – Industry Leading Profitability
Full Year Net Income & EPS – Industry Leading Profitability Non-GAAP* 2023 2024 Y/Y YOY Operating Income $1,079M $1,098M 2% Financial Income, Net $77M $96M Tax Expenses $159M $155M Net Income $997M $1,039M 4% Net Margin 41% 41% EPS $8.42 $9.16 9% *Non-GAAP excludes equity-based compensation charges,
Slide 14: Cash Flow & Cash Position
+ Cash Flow & Cash Position $2.8 Billion Cash, Marketable Securities & $1.3B Short Term Deposits 2024 $249 Million Share Repurchase $325M Quarterly Operating Cash Flow Fourth Quarter $1,059 Million Share Repurchase Annual Operating Cash Flow ©2025 Check Point Software Technologies Ltd. 14
Slide 15: Financial Summary
– Revenues & EPS Above Midpoint of Projections – Strong Quantum Force Demand Financial Summary – Double-Digit Calculated Billings Growth – Strong Profitability ©2025 Check Point Software Technologies Ltd. 15
Slide 16: 30+ Years of The Best Security!
30+ Years of The Best Security! ©2025 Check Point Software Technologies Ltd. 16
Slide 17: Check Point – 31 Years of Growth
Check Point – 31 Years of Growth Check Point Growth $3,000 Millions Revenues $200.00 $2,500 Net Profit Share Price $150.00 $2,000 $1,500 $100.00 $1,000 $50.00 $500 $0 $- 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Slide 18: The Executive Chairman Lifestyle
The Executive Chairman Lifestyle ©2025 Check Point Software Technologies Ltd. 18
Slide 19: Nadav Zafrir, Chief Executive Officer
Nadav Zafrir, Chief Executive Officer ©2025 Check Point Software Technologies Ltd. 19
Slide 20: Business Outlook
Business Outlook ©2025 Check Point Software Technologies Ltd. 20
Slide 21: Business Outlook
Business Outlook* Q1 2025 FY2025 Revenues $619M - $649M $2,660M-$2,760M Y/Y Growth 3% - 8% 4% - 8% Non-GAAP EPS** $2.13 - $2.23 $9.60- $10.20 Y/Y Growth 4% - 9% 5% - 11% GAAP EPS is Expected to be approximately 50 cents Less $2.00 Less * Based on information available to Check Point Software as of J
Slide 22: Q&A Session
Q&A Session ©2025 Check Point Software Technologies Ltd. 22
Slide 23: Thank You!
Thank You! ©2025 Check Point Software Technologies Ltd. 23
Slide 24: GAAP to Non-GAAP Consolidated Statement of Income Reconciliation
GAAP to Non-GAAP Consolidated Statement of Income Reconciliation Three Months Ended December 31, 2024 Three Months Ended December 31, 2023 Amortization of Amortization of Taxes on Taxes on Stock-based intangible assets Stock-based intangible assets (In millions, except per share amounts) GAAP reconc
Slide 25: GAAP to Non-GAAP Consolidated Statement of Income Reconciliation
GAAP to Non-GAAP Consolidated Statement of Income Reconciliation Twelve Months Ended December 31, 2024 Twelve Months Ended December 31, 2023 Amortization of Amortization of Taxes on Taxes on Stock-based intangible assets Stock-based intangible assets (In millions, except per share amounts) GAAP reco