Israeli cybersecurity firm Examine Level Software program Applied sciences Ltd. (Nasdaq: CHKP) beat the analysts in its monetary outcomes revealed right this moment for the fourth quarter and full yr 2024. The corporate, now managed by CEO Nadav Zafrir reported $704 million income within the fourth quarter and non-GAAP earnings per share of $2.70, whereas analysts had forecasted $699 million income and non-GAAP earnings per share of $2.65.
Income progress within the fourth quarter was 6.5%, with progress in all segments by which the corporate operates. GAAP internet revenue within the fourth quarter was $258 million, up 3.3% from the corresponding quarter. Non-GAAP internet revenue was $303 million, up 1.6%. Non-GAAP earnings per share of $2.70 was 5.1% up from the corresponding quarter of 2023.
Shwed: “A beautiful strategy to transition to my new govt chairman position”
In 2024, which was largely managed by outgoing CEO Gil Shwed, who turned govt chairman final month, income amounted to $2.57 billion, up 6.2% from 2023 – larger progress than the 4% in 2024 from 2023. The corporate’s income from safety subscribers surpassed the $1 billion mark on an annual foundation after rising by 12.5% to $1.1 billion.
The corporate GAAP internet revenue of $846 million, and non-GAAP internet revenue of over $1 billion, which is $9.16 per share. Examine Level acknowledged prices of roughly $150 million in 2024 for stock-based compensation for the corporate’s staff.
The corporate generated practically $1.1 billion from working actions in the course of the previous yr, of which $249 million was the final quarter. Examine Level ended 2024 with practically $2.8 billion in money, down from the earlier yr, primarily as a result of acquisition of Israeli cybersecurity firm Cybernet for a internet $186 million.
Examine Level govt chairman Gil Shwed stated, “We delivered distinctive fourth quarter outcomes, a beautiful strategy to transition into my new govt chairman position. The success within the quarter was underscored by robust 8 % income progress in our core Quantum Drive equipment enterprise, our business main Concord E-mail answer, and expanded adoption of the Infinity platform,” stated, Gil Shwed, Founder and Chairman of the Board of Examine Level Software program. “I wish to thank Examine Level’s clients, companions, and the International Examine Level Crew for his or her contributions to our continued success. I look ahead to Examine Level reaching new heights underneath the management of our new Chief Govt Officer, Nadav Zafrir.”
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Zafrir stated, “2024 was a profitable yr and supplies an important springboard for 2025 and past. My first 100 days are targeted on assembly with clients and companions to know the important thing challenges they face in right this moment’s unprecedented risk setting. From my conversations to date, I’ve change into more and more assured that Examine Level is uniquely positioned to deal with the cybersecurity calls for of enterprises worldwide. Examine Level’s future is shiny, and we’re targeted on driving market share growth and taking progress to the subsequent ranges.
Zafrir introduced the appointment of Itai Greenberg as Examine Level’s new chief income officer. He was previously chief technique officer the place he might be changed by Roi Karo.
Examine Level is traded on Nasdaq with a market cap of $22.4 billion after rising 27.2% over the previous yr. Yesterday, Examine Level leapfrogged Teva as Israel’s most dear firm after the pharmaceutical firm’s share worth fell sharply after its fourth quarter 2024 outcomes and 2025 monetary steerage.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on January 30, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
