Check Point® Software Technologies has released its financial results for the fourth quarter and full year ending December 31, 2024.

The company reported calculated billings of $959 million for Q4, an 11% increase year-over-year, and total revenues of $704 million, up 6% from the previous year.

For the full year, calculated billings reached $2.658 billion, a 9% increase, with total revenues at $2.565 billion.

In terms of profitability, Check Point’s GAAP operating income for Q4 was $254 million, representing 36% of revenues, while non-GAAP operating income was $306 million, or 44% of revenues.

The company reported a GAAP EPS of $2.30, a 7% year-over-year increase, and a non-GAAP EPS of $2.70, up 5%.

Gil Shwed, Founder and Chairman of the Board, stated, “We delivered exceptional fourth quarter results… I look forward to Check Point achieving new heights under the leadership of our new Chief Executive Officer, Nadav Zafrir.”

Zafrir emphasized the importance of understanding customer challenges in today’s threat landscape, asserting that Check Point is well-positioned to address cybersecurity demands globally.

The company also announced an expanded executive team, including Itai Greenberg as Chief Revenue Officer and Roi Karo as Chief Strategy Officer. Zafrir acknowledged the contributions of Rupal Hollenbeck, who will conclude her tenure as President at the end of Q1 2025.

Cash balances as of December 31, 2024, stood at $2.784 billion, down from $2.960 billion a year prior, largely due to the acquisition of Cyberint Ltd.

Check Point repurchased approximately 1.7 million shares in Q4, totaling around $325 million, and 7.7 million shares for the full year at a cost of approximately $1.3 billion.