Description

Check Point Software: Subscription Momentum, Platform Scale, and the Quiet Reinvention of a Security Giant!

Check Point Software Technologies Ltd delivered a solid fourth quarter and full year performance for 2025, reflecting steady execution amid a cybersecurity market undergoing structural change driven by artificial intelligence adoption. Revenue growth remained moderate at mid-single digits, but the underlying mix continued to shift toward subscriptions, which grew at a faster pace and increasingly anchor the company’s business model. This transition supported recurring revenue visibility while creating short-term distortions in reported product revenue due to accounting allocation effects following subscription price increases. Overall revenue exceeded internal projections, and calculated billings, deferred revenue, and remaining performance obligations all showed healthy growth, indicating sustained customer engagement and backlog formation. Profitability remained a notable strength. Gross margins stayed near the high end of the company’s historical range, and operating margins remained above 40 percent on a non-GAAP basis despite increased investment in sales capacity, marketing programs, and workforce expansion.