Check Point Software Technologies Ltd (NASDAQ:CHKP) reported fourth-quarter FY21 revenue growth of 6% year-on-year to $599 million, beating the consensus of $583.6 million.
- Revenue from Products and licenses grew 3.6% Y/Y to $166.4 million, Security subscriptions increased 13.7% Y/Y to $204.1 million, and Software updates and maintenance grew 2.2% Y/Y to $228.6 million.
- Margin: The non-GAAP operating margin contracted 400 basis points to 47%. Operating costs rose 13.1% Y/Y, cost of revenue increased 19.3% Y/Y.
- Non-GAAP EPS of $2.25 beat the consensus of $2.12.
- The company generated $294 million in operating cash flow and held $3.8 billion in cash and equivalents.
- "This was the sixth consecutive quarter with an accelerated billings reaching 14 percent growth for the quarter. Our success continues to be driven by our Infinity platform's capabilities and the unique strengths of our key pillars: Check Point Quantum network security solutions, Check Point Harmony, and Check Point CloudGuard," said Gil Shwed, Founder & CEO of Check Point Software Technologies.
- Price Action: CHKP shares closed higher by 2.15% at $123.67 on Wednesday.
