"From $5 million to $1 billion": Gil Shwed celebrates Check Point’s journey as he transitions to executive chairman
"From $5 million to $1 billion": Gil Shwed celebrates Check Point’s journey as he transitions to executive chairman
The company closed 2024 with $2.56 billion in revenue and $1 billion in profit.
Cybersecurity company Check Point registered positive results in its final quarter under the helm of longtime CEO Gil Shwed, recording revenues of $704 million, a 6% growth compared to the same quarter last year, in line with the middle of the company's forecast range. The quarterly profit was $2.70 per share, an increase of 5% compared to the same quarter last year.
These results bring Check Point past the $2.5 billion annual revenue threshold for the first time, with the company closing 2024 with $2.56 billion in revenue, a 6% growth compared to the previous year. Annual revenue from software subscriptions saw a stronger 13% growth, reaching $1.1 billion.
For the first time, Check Point’s annual profit surpassed the billion-dollar mark, with earnings per share for 2024 at $9.16, a 9% increase compared to 2023. Check Point ended 2024 with cash reserves of $2.8 billion, providing the new management team ample room to maneuver. The company’s stock has already risen by nearly 10% since the beginning of 2025, reaching a value of over $22 billion and approaching an all-time high.
"The excellent results in the quarter are a great way for me to transition to the role of chairman," said Shwed upon the publication of the reports, after officially passing the baton of Check Point’s management to Nadav Zafrir—former commander of Unit 8200 and founding partner of the Team8 VC fund—in December. Shwed moved to the role of executive chairman after leading Check Point as CEO since its inception nearly 30 years ago.
"I’ve been in this adventure called Check Point for 30 years, and I hope this is just the beginning. We went public in June 1996 with less than $10 million in annual revenue and grew to $2.5 billion. The profit, which was $5 million at the time, jumped to $1 billion—200 times. The stock price increased 80 times since the day of the IPO in June 1996. This shows that I’m summing up a period of growth and great years. I’m proud to be one of those who invented the cyber industry and continue to be the one who leads it today.
"I still come to the office every day, truly enjoying my new role. Nadav has been CEO for a month and a half. Personally, it’s very fulfilling to reduce the daily pressure and think more strategically. Nadav and I are in the honeymoon phase of our relationship, and I hope it continues that way."
Zafrir said, "My first 100 days as CEO are focused on meeting with customers and partners to understand the key challenges in this unprecedented threat environment. After these conversations, I am confident that Check Point is uniquely positioned to address cyber threats in organizations around the world. I am sure that Check Point’s best years are still ahead of it."
