Check Point Software Reports Fourth Quarter and 2025 Full Year Results

Rhea-AI Summary

Check Point (NASDAQ: CHKP) reported fourth-quarter and full-year 2025 results with revenue and EPS gains, strengthened cash, and strategic M&A.

Q4: Total revenues $745M (+6% YoY), GAAP EPS $2.81 (+22% YoY), Non-GAAP EPS $3.40 (+26% YoY). Full year: Revenues $2.725B (+6%), Non-GAAP EPS $11.89 (+30%). Cash and equivalents $4.342B. Company announced acquisitions to expand AI security, exposure management, and MSP offerings.

Positive

• Non-GAAP EPS +30% year-over-year for full year 2025
• GAAP EPS +29% year-over-year for full year 2025
• Security subscription revenue +10% year-over-year in 2025
• Cash, marketable securities and short-term deposits of $4.342B as of Dec 31, 2025
• Share repurchases ~6.8M shares totaling ~$1.4B in 2025
• Completed acquisition of Lakera AI for ~$190M net cash consideration

Negative

• One-time tax payment of approximately $66M related to prior years
• Proceeds from $2.0B convertible notes offering may affect future capital structure

Key Figures

Q4 2025 Calculated Billings: $1,039 million Q4 2025 Total Revenues: $745 million Q4 2025 GAAP EPS: $2.81 +5 more

8 metrics

Q4 2025 Calculated Billings $1,039 million Fourth quarter 2025, up 8% year over year

Q4 2025 Total Revenues $745 million Fourth quarter 2025, 6% increase year over year

Q4 2025 GAAP EPS $2.81 Fourth quarter 2025, 22% increase year over year

Q4 2025 Non-GAAP EPS $3.40 Fourth quarter 2025, 26% increase year over year

FY 2025 Total Revenues $2,725 million Full year 2025, 6% increase year over year

FY 2025 GAAP EPS $9.62 Full year 2025, 29% increase year over year

Cash, securities & deposits $4,342 million Balance as of December 31, 2025

2025 Share repurchases $1.4 billion Approximately 6.8 million shares repurchased in full year 2025

Market Reality Check

Price: $164.62 Vol: Volume 1,594,279 is about...

normal vol

$164.62 Last Close

Volume Volume 1,594,279 is about 25% above 20-day average 1,275,110, indicating elevated trading interest around the earnings release. normal

Technical Shares at 176.47 trade below the 200-day MA of 200.68, sitting 24.7% below the 52-week high and 3.51% above the 52-week low.

Peers on Argus

CHKP fell 2.27%, while key software peers like FFIV, IOT, NTNX, GDDY and GEN als...

CHKP fell 2.27%, while key software peers like FFIV, IOT, NTNX, GDDY and GEN also declined between about 0.6% and 5.6%, pointing to broader sector pressure overlaying company-specific earnings news.

Historical Context

5 past events · Latest: Jan 28 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 28	Cyber threat report	Neutral	-1.5%	Annual cyber security report highlighting rising AI-driven attack volumes globally.
Jan 27	Strategic partnership	Positive	-1.0%	New cyber security partnership with Hendrick Motorsports and No. 17 Chevrolet team.
Jan 21	Product launch	Positive	-2.4%	Launch of AI-driven Exposure Management platform integrating broad security controls.
Jan 05	Earnings date notice	Neutral	+2.3%	Announcement of date and time for Q4 and full-year 2025 earnings release.
Dec 04	Product upgrade	Positive	+1.9%	Release of Quantum Firewall Software R82.10 with new AI and Zero Trust features.

Pattern Detected

Recent product and partnership announcements have often seen muted or negative next-day reactions, even when the news skewed positive.

Recent Company History

Over the last few months, Check Point has focused heavily on AI-driven security and strategic partnerships. In December 2025, it launched Quantum Firewall Software R82.10 with over 20 new AI-related capabilities, and in January 2026 it introduced AI-driven Exposure Management and published its 2026 Cyber Security Report. A motorsports cyber partnership and the advance notice of today’s earnings date rounded out the news flow. Despite mostly positive operational updates, share reactions have often been modest or negative, similar to today’s divergence between strong results and a weaker share price.

Market Pulse Summary

This announcement highlights broad-based growth, with Q4 2025 revenues of $745 million and non‑GAAP ...

Analysis

This announcement highlights broad-based growth, with Q4 2025 revenues of $745 million and non‑GAAP EPS of $3.40, alongside full‑year non‑GAAP EPS of $11.89. Results benefited from tax changes adding about $1.90 to 2025 EPS, an important factor when assessing earnings quality. Cash and investments reached $4,342 million, aided by a $2 billion convertible notes offering, while the company repurchased about $1.4 billion of stock. Investors may watch future quarters for organic EPS growth, integration of recent AI-focused acquisitions, and ongoing cash generation.

Key Terms

remaining performance obligation, gaap, non-gaap, eps, +3 more

7 terms

remaining performance obligation financial

"Remaining Performance Obligation (RPO)**: $2,728 million, an 8 percent increase"

Remaining performance obligation is the amount of work or services a company still needs to deliver to a customer under a contract. It matters because it shows how much revenue the company can expect to earn in the future from that contract, helping investors understand the company's ongoing business and growth potential.

gaap financial

"GAAP Operating Income: $233 million, representing 31 percent of revenues"

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

non-gaap financial

"Non-GAAP Operating Income: $302 million, representing 41 percent of revenues"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

eps financial

"GAAP EPS***: $2.81, a 22 percent increase year over year"

Earnings per share (EPS) measures how much profit a company makes for each outstanding share of its stock by dividing the company’s profit after expenses by the number of shares. It matters to investors because it shows how much of the company’s “pie” each share represents—higher EPS usually signals greater profitability per share, helps compare companies of different sizes, and influences stock valuations and investor decisions.

convertible notes offering financial

"result of the $1.8 billion proceeds from our $2 billion convertible notes offering"

A convertible notes offering is when a company borrows money through short-term loans that can later be turned into shares instead of being repaid in cash. For investors, it combines the protection of a loan (priority for repayment and interest) with the upside of equity if the company grows, so it matters because it affects potential returns today and how many shares existing owners will hold later, like a loan that can be exchanged for a future ownership ticket.

capped call financial

"net of issuance costs and purchase of capped call."

A capped call is a financial strategy that gives investors the right to buy shares at a set price, known as the strike price, but limits the maximum profit they can make from that gain. Think of it as a sales agreement where you can purchase something at a fixed price, but there's a cap on how much extra you can earn if the item's value rises significantly. This helps investors protect themselves from unlimited upside risk while still participating in potential gains.

cash flow from operations financial

"Cash flow from operations in the fourth quarter of 2025 was $310 million"

Cash flow from operations is the money a company actually generates from its core business activities—sales, services and day-to-day operations—after paying routine costs like wages and suppliers. Investors watch it like a company’s operating “paycheck” because it shows whether the business can fund growth, pay debts and return cash to shareholders without relying on loans or one-time asset sales; steady positive cash flow is a sign of financial health.

AI-generated analysis. Not financial advice.

TEL AVIV, Israel, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Check Point® Software Technologies Ltd. (NASDAQ: CHKP), today announced its financial results for the fourth quarter and full year ended December 31, 2025.

Fourth Quarter 2025 Highlights        

• Calculated Billings* reached $1,039 million, an 8 percent increase year over year
• Remaining Performance Obligation (RPO)**: $2,728 million, an 8 percent increase year over year
• Total Revenues: $745 million, a 6 percent increase year over year
• Security Subscription Revenues: $325 million, an 11 percent increase year over year
• GAAP Operating Income: $233 million, representing 31 percent of revenues
• Non-GAAP Operating Income: $302 million, representing 41 percent of revenues
• GAAP EPS***: $2.81, a 22 percent increase year over year
• Non-GAAP EPS***: $3.40, a 26 percent increase year over year

Full Year 2025 Highlights

• Calculated Billings* reached $2,906 million, a 9 percent increase year over year
• Total Revenues: $2,725 million, a 6 percent increase year over year
• Security Subscriptions Revenues: $1,219 million, a 10 percent increase year over year
• GAAP EPS***: $9.62, a 29 percent increase year over year
• Non-GAAP EPS***: $11.89, a 30 percent increase year over year
  

“We delivered solid fourth quarter and full year 2025 results, with revenue landing above the midpoint of our outlook and EPS exceeding expectations. Our performance remained resilient throughout the year, driven by continued customer adoption across our Hybrid Mesh Network and Workspace platforms,” said Nadav Zafrir, Chief Executive Officer. “In 2026, our strategy is centered on securing our customers’ AI transformation across the enterprise. We are focused on executing against our four strategic pillars, Hybrid Mesh, Workspace, and Exposure Management, while embedding AI driven security throughout our portfolio. Today’s announced acquisition of Cyata further expands our AI security stack, enabling full discovery, governance, and control of AI agents as organizations accelerate their AI journeys.”

Announcing Three First Quarter 2026 Acquisitions

• Cyata: Accelerates our mission to deliver End‑to‑End AI Security platform for the Agentic World.         
  Delivering agent discovery across endpoint and SaaS while providing context, configuration and risk.
• Cyclops: Expands our Exposure Management Offering to deliver a complete CTEM Solution to the
  Market. Cyber Asset Attack Surface Management (CAASM) provides discovery and continuous
  monitoring of every asset across cloud, on-premises, OT, and SaaS environments.
• Rotate: A comprehensive, all-in-one platform purpose-built for MSPs. We acquired the talent of Rotate to         
  further accelerate the strong Workspace momentum in the MSP market.
  

     * Calculated Billings is a measure that we defined as total revenues recognized in accordance with GAAP plus the change in Total Deferred Revenues during the period.
   ** Remaining Performance Obligation (RPO) measure that represents the total value of non-cancellable contracted products and/or services yet to be recognized as Revenue as of the period.
*** GAAP & Non-GAAP EPS in fourth quarter and full year 2025 benefitted from a tax rate reduction, updated tax provisions and a tax settlement that resulted in a benefit to GAAP and Non-GAAP EPS. A more detailed explanation is provided in the Financial Highlights Commentary.

Financial Highlights Commentary

• GAAP & Non-GAAP EPS: Earnings per diluted shares in the fourth quarter of 2025 were $2.81 and $3.40 for GAAP and Non-GAAP, respectively. This compares to $2.30 and $2.70, respectively in the fourth quarter of 2024. Tax rate reduction and updated tax provisions due to tax settlement resulted in a benefit of approximately $0.52 to GAAP and Non-GAAP EPS. Earnings per diluted shares in 2025 were $9.62 and $11.89 for GAAP and Non-GAAP, respectively. This compares to $7.46 and $9.16, respectively, in 2024. Tax rate reduction, updated tax provisions and a tax settlement, resulted in a benefit of approximately $1.90 to GAAP and Non-GAAP EPS.
• Cash Balances, Marketable Securities & Short-Term Deposits: $4,342 million as of December 31, 2025, compared to $2,784 million as of December 31, 2024. The increase in cash is primarily a result of the $1.8 billion proceeds from our $2 billion convertible notes offering net of issuance costs and purchase of capped call. During the fourth quarter of 2025 we completed the acquisition of Lakera AI for approximately $190 million net cash consideration.
• Share Repurchase Program: During the fourth quarter of 2025, the company repurchased approximately 2.2 million shares for a total of approximately $425 million, which includes $100 million of share repurchases executed in connection with the convertible notes offering. During the full year 2025, we repurchased approximately 6.8 million shares at a total cost of approximately $1.4 billion.
• Cash Flow: Cash flow from operations in the fourth quarter of 2025 was $310 million, compared to $249 million in the same quarter of last year. Cash flow from operations in 2025 was $1,234 million, which included a one-time tax payment of approximately $66 million in connection with tax settlement for prior years compared to $1,059 million last year. In addition, Cash flow from operations in 2025 included $51 million benefit from balance sheet hedging transactions, compared to $18 million of expenses in 2024.

For information regarding the non-GAAP financial measures discussed in this release, as well as a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures, please see “Use of Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Information.”

Conference Call and Webcast Information
Check Point will host a conference call with the investment community on February 12, 2026, at 8:30 AM ET/5:30 AM PT. To listen to the live webcast or replay, please visit the website www.checkpoint.com/ir.

First Quarter 2026 Investor Conference Participation Schedule

• Wolfe Research March Madness Software Conference
  February 24, 2026, NY, NY – 1x1 meetings
  
  
• Bernstein Insights: 4th Annual Tech, Media, Telecom Forum
  February 25, 2026, Palo Alto, CA – 1x1 meetings
  
  
• Baird ‘s 2026 Silicon Slopes Technology Summit
  February 26-27, 2026, Park City, UT – 1x1 meetings
  
  
• Raymond James 47th Institutional Investor Conference
  March 2, 2026, Orlando, FL – Fireside & 1x1 meetings
  
  
• Morgan Stanley 2026 Media, Telecommunications & Technology Conference
  March 3-5, 2026, SF, CA – 1x1 meetings
  
  
• Stifel 2026 NYC Technology 1x1 Conference
  March 10, 2026, NY, NY – 1x1 meetings
  
  
• Cantor Global Technology Conference
  March 11, 2026, NY, NY – 1x1 meetings
  

Members of Check Point's management team are expected to meet with investors and selectively present at these conferences to discuss the latest company strategies and initiatives. Check Point’s conference presentations are expected to be available via webcast. To hear these presentations and access the most updated information please visit the company's web site at www.checkpoint.com/ir. The schedule is subject to change.

Follow Check Point via:
Twitter: http://www.twitter.com/checkpointsw
Facebook: https://www.facebook.com/checkpointsoftware
Blog: http://blog.checkpoint.com
YouTube: http://www.youtube.com/user/CPGlobal
LinkedIn: https://www.linkedin.com/company/check-point-software-technologies

About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (http://www.checkpoint.com) is a leading protector of digital trust, utilizing AI-powered cyber security solutions to safeguard over 100,000 organizations globally. Through its Infinity Platform and an open garden ecosystem, Check Point’s prevention-first approach delivers industry-leading security efficacy while reducing risk. Employing a hybrid mesh network architecture with SASE at its core, the Infinity Platform unifies the management of on-premises, cloud, and workspace environments to offer flexibility, simplicity and scale for enterprises and service providers.

Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements, which generally relate to future events or to our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, expectations regarding our products and solutions; our ability to acquire or complete acquisitions of targeted companies; and the anticipated benefits of such transactions and other partnerships; and our planned participation in investor conferences and other events during the first quarter of 2026. These expectations and beliefs may not materialize. Actual results or events could differ materially from those expressed or implied due to various risks and uncertainties, including: our ability to continue developing platform capabilities and solutions; customer adoption of our existing and new offerings; the continued development of the IT security market; competition from other products and services; our ability to recognize the benefits of any acquisition or partnership; changes in our executive leadership; changes to laws and regulations affecting tax rates and credits and other activities; our ability to successfully integrate our completed acquisitions; and general market, political, economic, and business conditions, including acts of terrorism or war.

Additional risks and uncertainties are described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed on March 17, 2025. The forward-looking statements in this press release are based on information available to Check Point as of the date of this release, and we assume no obligation to update such statements except as required by law.

Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, Check Point uses non-GAAP measures of operating income, net income and earnings per diluted share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets and acquisition related expenses, amortization of debt discount and issuance costs and the related tax affects. Check Point’s management believes the non-GAAP financial information provided in this release is useful to investors’ understanding and assessment of Check Point’s ongoing core operations and prospects for the future. Historically, Check Point has also publicly presented these supplemental non-GAAP financial measures to assist the investment community to see the company “through the eyes of management,” and thereby enhance understanding of its operating performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures discussed in this press release to the most directly comparable GAAP financial measures is included with the financial statements contained in this press release. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such has determined that it is important to provide this information to investors.

CHECK POINT SOFTWARE TECHNOLOGIES LTD. CONSOLIDATED STATEMENT OF INCOME (Unaudited, in millions, except per share amounts)
	Three Months Ended							Year Ended
	December 31,							December 31,
		2025				2024			2025				2024
Revenues:
Products and licenses	$	171.8			$	170.6		$	548.2			$	507.9
Security subscriptions		325.1				292.2			1,219.0				1,104.2
Total revenues from products and security subscriptions		496.9				462.8			1,767.2				1,612.1
Software updates and maintenance		248.0				240.9			958.2				952.9
Total revenues		744.9				703.7			2,725.4				2,565.0
Operating expenses:
Cost of products and licenses		32.0				29.6			105.8				97.8
Cost of security subscriptions		23.8				19.7			90.9				72.6
Total cost of products and security subscriptions		55.8				49.3			196.7				170.4
Cost of Software updates and maintenance		33.4				33.4			132.6				123.9
Amortization of technology		8.8				7.6			32.5				25.0
Total cost of revenues		98.0				90.3			361.8				319.3
Research and development		124.3				101.1			456.7				394.9
Selling and marketing		255.8				232.1			947.0				862.9
General and administrative		33.9				25.9			128.8				111.9
Total operating expenses		512.0				449.4			1,894.3				1,689.0
Operating income		232.9				254.3			831.1				876.0
Financial income, net		29.5				24.5			114.0				96.1
Income before taxes on income		262.4				278.8			945.1				972.1
Taxes on income (tax benefit)		(42.1	)			21.3			(111.8	)			126.4
Net income	$	304.5			$	257.5		$	1,056.9			$	845.7
Basic earnings per share	$	2.85			$	2.36		$	9.85			$	7.65
Number of shares used in computing basic earnings per share		106.7				109.2			107.3				110.6
Diluted earnings per share	$	2.81			$	2.30		$	9.62			$	7.46
Number of shares used in computing diluted earnings per share		108.4				112.1			109.9				113.4

CHECK POINT SOFTWARE TECHNOLOGIES LTD. SELECTED FINANCIAL METRICS (Unaudited, in millions, except per share amounts)
		Three Months Ended						Year Ended
		December 31,						December 31,
			2025			2024			2025			2024
Revenues		$	744.9		$	703.7		$	2,725.4		$	2,565.0
Non-GAAP operating income			302.3			306.4			1,113.9			1,097.5
Non-GAAP net income			368.2			303.2			1,307.2			1,039.1
Diluted Non-GAAP Earnings per share		$	3.40		$	2.70		$	11.89		$	9.16
Number of shares used in computing diluted Non-GAAP Earnings per share			108.4			112.1			109.9			113.4

CHECK POINT SOFTWARE TECHNOLOGIES LTD. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION (Unaudited, in millions, except per share amounts)
		Three Months Ended								Year Ended
		December 31,								December 31,
			2025				2024				2025				2024
GAAP operating income		$	232.9			$	254.3			$	831.1			$	876.0
Stock-based compensation (1)			56.4				29.8				205.6				149.7
Amortization of intangible assets and acquisition related expenses (2)			13.0				22.3				77.2				71.8
Non-GAAP operating income		$	302.3			$	306.4			$	1,113.9			$	1,097.5
GAAP net income		$	304.5			$	257.5			$	1,056.9			$	845.7
Stock-based compensation (1)			56.4				29.8				205.6				149.7
Amortization of intangible assets and acquisition related expenses (2)			13.0				22.3				77.2				71.8
Amortization of debt discount and issuance costs (3)			0.4				-				0.4				-
Taxes on the above items (4)			(6.1	)			(6.4	)			(32.9	)			(28.1	)
Non-GAAP net income		$	368.2			$	303.2			$	1,307.2			$	1,039.1
Diluted GAAP Earnings per share		$	2.81			$	2.30			$	9.62			$	7.46
Stock-based compensation (1)			0.52				0.26				1.87				1.32
Amortization of intangible assets and acquisition related expenses (2)			0.12				0.20				0.70				0.63
Amortization of debt discount and issuance costs (3)			-				-				-				-
Taxes on the above items (4)			(0.05	)			(0.06	)			(0.30	)			(0.25	)
Diluted Non-GAAP Earnings per share		$	3.40			$	2.70			$	11.89			$	9.16
Number of shares used in computing diluted Non-GAAP Earnings per share			108.4				112.1				109.9				113.4
(1) Stock-based compensation:
Cost of products and licenses		$	0.3			$	0.1			$	0.6			$	0.4
Cost of software updates and maintenance			3.8				2.0				13.5				8.2
Research and development			20.6				10.8				76.3				53.1
Selling and marketing			22.7				12.0				79.8				58.2
General and administrative			9.0				4.9				35.4				29.8
			56.4				29.8				205.6				149.7
(2) Amortization of intangible assets and acquisition related expenses:
Amortization of technology-cost of revenues			8.8				7.6				32.5				25.0
Research and development			1.9				1.7				4.6				6.5
Selling and marketing			2.3				13.0				40.1				40.3
			13.0				22.3				77.2				71.8
(3) Amortization of debt discount and issuance costs			0.4				-				0.4				-
(4) Taxes on the above items			(6.1	)			(6.4	)			(32.9	)			(28.1	)
Total, net		$	63.7			$	45.7			$	250.3			$	193.4

CHECK POINT SOFTWARE TECHNOLOGIES LTD. CONDENSED CONSOLIDATED BALANCE SHEET DATA (In millions) ASSETS
			December 31,			December 31,
			2025 (Unaudited)			2024 (Audited)
Current assets:
Cash and cash equivalents			$	1,800.0		$	506.2
Marketable securities and short-term deposits				1,214.9			865.7
Trade receivables, net				769.1			728.8
Prepaid expenses and other current assets				180.0			92.7
Total current assets				3,964.0			2,193.4
Long-term assets:
Marketable securities				1,326.8			1,411.9
Property and equipment, net				82.9			80.8
Deferred tax asset, net				68.3			74.7
Goodwill and other intangible assets, net				2,118.5			1,897.1
Other assets				245.9			96.6
Total long-term assets				3,842.4			3,561.1
Total assets			$	7,806.4		$	5,754.5

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Deferred revenues			$	1,530.1			$	1,471.3
Trade payables and other accrued liabilities				406.6				472.9
Total current liabilities				1,936.7				1,944.2
Long-term liabilities:
Convertible senior notes, net				1,972.1				-
Long-term deferred revenues				650.3				529.0
Income tax accrual				329.7				459.6
Other long-term liabilities				35.5				32.3
				2,987.6				1,020.9
Total liabilities				4,924.3				2,965.1
Shareholders’ equity:
Share capital				0.8				0.8
Additional paid-in capital				3,331.6				3,049.5
Treasury shares at cost				(15,555.8	)			(14,264.4	)
Accumulated other comprehensive gain (loss)				34.8				(10.3	)
Retained earnings				15,070.7				14,013.8
Total shareholders’ equity				2,882.1				2,789.4
Total liabilities and shareholders’ equity			$	7,806.4			$	5,754.5
Total cash and cash equivalents, marketable securities, and short-term deposits			$	4,341.7			$	2,783.8

CHECK POINT SOFTWARE TECHNOLOGIES LTD. SELECTED CONSOLIDATED CASH FLOW DATA (Unaudited, in millions)
	Three Months Ended								Year Ended
	December 31,								December 31,
		2025				2024				2025				2024
Cash flow from operating activities:
Net income	$	304.5			$	257.5			$	1,056.9			$	845.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment		7.6				6.3				24.8				24.0
Amortization of intangible assets		10.2				19.2				68.1				59.6
Stock-based compensation		56.4				29.8				205.6				149.7
Realized gain on marketable securities		(0.1	)			-				-				-
Increase in trade and other receivables, net		(382.7	)			(337.1	)			(82.9	)			(78.9	)
Increase (decrease) in deferred revenues, trade payables and other accrued liabilities		327.5				273.0				(14.2	)			59.7
Amortization of debt discount and issuance costs		0.4				-				0.4				-
Deferred income taxes, net		(13.4	)			0.3				(24.5	)			(1.0	)
Net cash provided by operating activities		310.4				249.0				1,234.2				1,058.8
Cash flow from investing activities:
Payment in conjunction with acquisitions, net of acquired cash		(189.4	)			-				(273.1	)			(185.8	)
Lease prepayment		-				-				(159.9	)			-
Investment in property and equipment		(7.2	)			(6.5	)			(26.6	)			(24.2	)
Net cash used in investing activities		(196.6	)			(6.5	)			(459.6	)			(210.0	)
Cash flow from financing activities:
Proceeds from issuance of shares upon exercise of options		54.7				9.0				393.2				258.6
Proceeds from issuance of convertible senior notes, net of issuance costs		1,971.7				-				1,971.7				-
Purchase of capped calls		(192.0	)			-				(192.0	)			-
Purchase of treasury shares		(425.0	)			(325.0	)			(1,400.0	)			(1,299.9	)
Payments related to shares withheld for taxes		(1.3	)			(1.5	)			(20.9	)			(18.6	)
Net cash provided by (used in) financing activities		1,408.1				(317.5	)			752.0				(1,059.9	)
Unrealized gain (loss) on marketable securities, net		2.6				(14.0	)			31.3				35.2
Increase (decrease) in cash and cash equivalents, marketable securities, and short-term deposits		1,524.5				(89.0	)			1,557.9				(175.9	)
Cash and cash equivalents, marketable securities, and short-term deposits at the beginning of the period		2,817.2				2,872.8				2,783.8				2,959.7
Cash and cash equivalents, marketable securities, and short-term deposits at the end of the period	$	4,341.7			$	2,783.8			$	4,341.7			$	2,783.8

Investors: Kip E. Meintzer                                         
Check Point Software Technologies, Ltd.                   
+1.650.628.2040                                                          
ir@checkpoint.com      

Media: Gil Messing                                      
Check Point Software Technologies, Ltd.     
+1.650.628.2260
press@checkpoint.com                                                

FAQ

What were Check Point (CHKP) fourth-quarter 2025 results?

CHKP reported Q4 2025 revenues of $745 million and GAAP EPS of $2.81. According to the company, Q4 revenue rose 6% year-over-year and tax-related benefits contributed about $0.52 per share to EPS.

How did Check Point (CHKP) perform for full year 2025?

CHKP posted full-year 2025 revenues of $2.725 billion and Non-GAAP EPS of $11.89. According to the company, Non-GAAP EPS increased ~30% year-over-year, aided by tax rate reductions and a tax settlement.

What acquisitions did Check Point (CHKP) announce in early 2026?

CHKP announced acquisitions including Cyata, Cyclops, and Rotate, and completed Lakera AI earlier. According to the company, these deals expand AI security, exposure management, and MSP-focused Workspace capabilities.

How strong is Check Point's cash position after 2025 results (CHKP)?

CHKP held $4.342 billion in cash, marketable securities and short-term deposits as of Dec 31, 2025. According to the company, the increase reflects $1.8 billion net proceeds from a convertible notes offering.

What share repurchase activity did Check Point (CHKP) report for 2025?

CHKP repurchased approximately 6.8 million shares for about $1.4 billion in 2025. According to the company, Q4 repurchases were ~2.2 million shares totaling roughly $425 million, including $100 million tied to the convertible offering.

Did tax items affect Check Point's (CHKP) 2025 EPS results?

Yes. Tax rate reductions, updated provisions and a tax settlement added roughly $1.90 per share to full-year EPS. According to the company, Q4 benefited about $0.52 per share from these tax items.