UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 6-K
 
Report of Foreign Private Issuer
 
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
 
For the month of October 2018
 
Commission File Number 0-28584
 
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
(Translation of registrant's name into English)
 
5 Ha’solelim Street, Tel Aviv, Israel
(Address of principal executive offices)
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
 
Form 20-F  ☒  Form 40-F ☐
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
 
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
 
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form, is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes ☐ No ☒
 
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
 

 

INVESTOR CONTACT
MEDIA CONTACT:
Kip E. Meintzer
Chris Navalta
Check Point Software Technologies
Check Point Software Technologies
+1.650.628.2040
+1.650.628.2260
ir@checkpoint.com
press@checkpoint.com
 
CHECK POINT SOFTWARE TECHNOLOGIES REPORTS
2018 THIRD QUARTER FINANCIAL RESULTS

SAN CARLOS, CA – October 24, 2018 — Check Point® Software Technologies Ltd. (NASDAQ: CHKP), today announced its financial results for the third quarter ended September 30, 2018.

· Check Point Software Acquires Dome9 to Transform Cloud Security
· Total Revenue: $471 million, a 4 percent increase year over year
· Deferred Revenues: $1,148 million, an 11 percent increase year over year
· GAAP Operating Income: $226 million, representing 48 percent of revenues
· Non-GAAP Operating Income: $250 million, representing 53 percent of revenues
· GAAP EPS: $1.25, a 7 percent increase year over year
· Non-GAAP EPS: $1.38, a 6 percent increase year over year
 
“Third quarter results reached the top end of our projections, with better than anticipated strength coming from the US and Europe,” Said Gil Shwed, Founder and CEO of Check Point Software Technologies. “Today we announced the acquisition of Dome9. This new addition to Check Point’s Infinity architecture delivers enhanced Cloud Security with advanced active policy enforcement and multi-cloud protection capabilities.  The combination of Dome9 and Infinity CloudGuard product family further differentiates Check Point in the rapidly evolving Cyber Security environment.” Shwed concluded.

Financial Highlights Third Quarter of 2018:
·
Total Revenue: $471 million compared to $455 million in the third quarter of 2017, a 4 percent increase year over year. Revenues were above the midpoint of our guidance.
·
GAAP Operating Income: $226 million compared to $225 million in the third quarter of 2017, representing 48 percent and 49 percent of revenues in the third quarter of 2018 and 2017, respectively.
·
Non-GAAP Operating Income: $250 million compared to $251 million in the third quarter of 2017, representing 53 percent and 55 percent of revenues in the third quarter of 2018 and 2017, respectively.
·
GAAP Taxes on Income: $45 million compared to $44 million in the third quarter of 2017.
·
GAAP Net Income and Earnings per Diluted Share: GAAP net income was $198 million compared to $193 million in the third quarter of 2017. GAAP earnings per diluted share were $1.25 compared to $1.16 in the third quarter of 2017, a 7 percent increase year over year.
·
Non-GAAP Net Income and Earnings per Diluted Share: Non-GAAP net income was $219 million compared to $215 million in the third quarter of 2017.  Non-GAAP earnings per diluted share were $1.38 compared to $1.30 in the third quarter of 2017, a 6 percent increase year over year.
·
Deferred Revenues: As of September 30, 2018, deferred revenues were $1,148 million compared to $1,036 million as of September 30, 2017, an 11 percent increase year over year.
·
Cash Flow: Cash flow from operations of $249 million compared to $260 million in the third quarter of 2017.
·
Cash Balances, Marketable Securities and Short Term Deposits: $4,072 million as of September 30, 2018, compared to $3,865 million as of September 30, 2017.
·
Share Repurchase Program: During the third quarter of 2018, we purchased approximately 2.6 million shares at a total cost of approximately $300 million.
 
 
©2018 Check Point Software Technologies Ltd. All rights reserved         |         P.   2

 
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.”

Business Highlights:

Check Point Software to Acquire Dome9 to Transform Cloud Security: Announced in a separate press release today, this acquisition enhances Check Point’s fully consolidated Infinity architecture and its CloudGuard security offering with advanced active policy enforcement and multi-cloud protection capabilities.

Check Point Software Technologies Recognized as a 2018 Gartner Peer Insights Customers’ Choice for Unified Threat Management: Gartner Peer Insights Customers’ Choice constitute the subjective opinions of individual end-user reviews, ratings, and data applied against a documented methodology; they neither represent the views of, nor constitute an endorsement by, Gartner or its affiliates.

Check Point Software Technologies Named a Leader in 2018 Gartner Magic Quadrant for Unified Threat Management (SMB Multifunction Firewalls) for Seventh Consecutive Year: Check Point’s Next Generation Firewall (Check Point Security Gateways) continues to have one of the largest UTM market share and continues to focus on enhancing threat prevention technologies, including anti-ransomware and CPU level emulation capabilities. Its solutions assist companies in protecting their data from advanced fifth-generation threats and attacks. It is the seventh consecutive year that Check Point has been listed as a Leader for UTM by Gartner.

BlackBerry and Check Point Software Announce a Global Partnership to Mitigate Cybersecurity Threats: The companies have entered a global ISV (Independent Software Vendor) partnership. The strategic agreement is the first of its kind for Check Point, and includes joint go-to-market planning and selling of Check Point’s market-leading mobile threat defense solution, SandBlast Mobile, along with BlackBerry UEM and BlackBerry Dynamics.

Check Point Announces SandBlast Mobile 3.0, the First to Provide Threat Prevention Technology to Enterprise Mobile Devices: SandBlast Mobile 3.0 becomes the only solution in the category to offer threat prevention technology for the enterprise, allowing employees to safely conduct business using their mobile devices. This industry-leading mobile security solution enhances unique on-device technology is designed to prevent malicious malware, botnets and phishing attacks on mobile applications.

Check Point Introduces Generation V Security Gateway for Enterprises and Data Centers: Combining broad threat prevention with purpose-built hardware, this latest addition to the Check Point 23000 family delivers the power to inspect SSL-encrypted traffic without compromising on performance, up time, or scalability. The 23900 security gateway offers high levels of security performance with 128 Gbps of firewall throughput in a compact 2U chassis. It supports connectivity standards up to 100 GbE and features modular expansion options with up to 42 network interfaces.

Check Point’s Research Team (https://research.checkpoint.com/) exposes vulnerabilities and attacks to ensure our customers have the highest levels of prevention and protection.  In the third quarter, our publications included the following:

Faxploit: Check Point researchers made a groundbreaking discovery into how corporate and home IT networks can be infiltrated via fax machines using nothing more than a mere fax number.

©2018 Check Point Software Technologies Ltd. All rights reserved         |         P.   3

Man-in-the-Disk: Check Point Research revealed shortcomings in Android’s External Storage that can result in the silent installation of unrequested, potentially malicious, apps to the user’s phone and the denial of service for legitimate apps, causing applications to crash.
 
FakesApp: Check Point Research found new vulnerabilities in WhatsApp that could allow threat actors to intercept and manipulate messages sent in both private and group conversations, giving attackers immense power to create and spread misinformation from what appears to be trusted sources.

Massive Malvertising Campaign: Check Point Research uncovered a large Malvertising campaign that involved multiple parties in the online advertising chain to distribute malicious content, via multiple Exploit Kits, to online users everywhere.
 
World Cup Espionage Apps: Check Point Research analyzed malware that had been placed on the smartphones of Israeli army soldiers. The highly invasive malware was part of an espionage campaign that Israeli security agencies attributed to the Hamas terrorist group.

Big Bang APT Attack: Check Point Research analyzed the comeback of an APT surveillance attack against institutions across the Middle East, specifically the Palestinian Authority. The malware takes a screenshot of the infected machine and sends it to a command and control server.

Black Rose Lucy: Check Point Research intercepted a new Malware-as-a-Service product developed by a Russian speaking team. It could easily become a new ‘cyber swiss army knife’ that enables worldwide hacker groups to orchestrate a wide range of attacks.

Domestic Kitten: Check Point Research revealed an extensive and targeted attack that used fake mobile applications to collect sensitive information about those considered a threat to the Iranian government. The malware collected data including contact lists stored on the victim’s mobile device, phone call records, SMS messages, geo-location of the victim, photos, surrounding voice recordings and more.

CeidPageLock: A rootkit distributed by the RIG Exploit Kit that tries to tamper with the homepage of a victim’s browser to generate fraudulent ad revenue for attackers. Check Point researchers took a deeper look at how it works.

Interactive Mapping of APT-C-23: In reference to Check Point Research’s publication about the Big Bang APT Group, it was discovered this was actually part of a larger APT campaign. Check Point Research mapped out the larger picture of how all these campaigns are connected.

Conference Call and Webcast Information
Check Point will host a conference call with the investment community on October 24, 2018, at 8:30 AM EDT/5:30 AM PDT. To listen to the live webcast or replay, please visit the website www.checkpoint.com/ir.

Fourth Quarter Investor Conference Participation Schedule:
 
·
Morningstar  Management Behind The Moat Conference
November 7, 2018 – Chicago, IL
 
·
UBS Global Technology Conference
November 13, 2018 – San Francisco, CA
 
·
Credit Suisse 22nd Annual TMT Conference
November 27, 2018 – Scottsdale, AZ
 
·
Wells Fargo 2018 Technology Summit
December 4, 2018 – Park City, Utah
 
Members of Check Point's management team are expected to present at these conferences and discuss the latest company strategies and initiatives. Check Point’s conference presentations are expected to be available via webcast on the company's web site. To view 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.

©2018 Check Point Software Technologies Ltd. All rights reserved         |         P.   4

 
About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading provider of cyber security solutions to governments and corporate enterprises globally. Its solutions protect customers from cyber-attacks with an industry leading catch rate of malware, ransomware and other types of attacks. Check Point offers a multilevel security architecture that defends enterprises’ cloud, network and mobile device held information, plus the most comprehensive and intuitive one point of control security management system. Check Point protects over 100,000 organizations of all sizes.

©2018 Check Point Software Technologies Ltd. All rights reserved

Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, statements related to our expectations regarding our products and solutions, including the Check Point Infinity architecture, and our participation in investor conferences during the fourth quarter of 2018.  Our expectations and beliefs regarding these matters may not materialize, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected.  These risks include our ability to continue to develop platform capabilities and solutions; customer acceptance and purchase of our existing solutions and new solutions; the market for IT security continuing to develop; competition from other products and services; and general market, political, economic and business conditions.  The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and  Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 27, 2018. The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking 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 or include certain items. 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 in order 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 the business internally and as such has determined that it is important to provide this information to investors.

©2018 Check Point Software Technologies Ltd. All rights reserved         |         P.   5

CHECK POINT SOFTWARE TECHNOLOGIES LTD.
CONSOLIDATED STATEMENT OF INCOME

 (In thousands, except per share amounts)

   
Three Months Ended
   
Nine Months Ended
 
   
September 30,
   
September 30,
 
   
2018
   
2017
   
2018
   
2017
 
   
(unaudited)
   
(unaudited)
   
(unaudited)
   
(unaudited)
 
Revenues:
                       
   Products and licenses
 
$
121,130
   
$
128,703
   
$
364,935
   
$
393,317
 
   Security subscriptions
   
136,354
     
120,328
     
395,681
     
350,339
 
Total revenues from products and security subscriptions
   
257,484
     
249,031
     
760,616
     
743,656
 
   Software updates and maintenance
   
213,339
     
205,596
     
630,303
     
604,994
 
Total revenues
   
470,823
     
454,627
     
1,390,919
     
1,348,650
 
                                 
Operating expenses:
                               
   Cost of products and licenses
   
21,683
     
24,374
     
62,656
     
74,467
 
   Cost of security subscriptions
   
4,375
     
3,824
     
12,101
     
13,253
 
Total cost of products and security subscriptions
   
26,058
     
28,198
     
74,757
     
87,720
 
   Cost of Software updates and maintenance
   
22,608
     
23,090
     
65,666
     
65,166
 
   Amortization of technology
   
546
     
546
     
1,638
     
1,638
 
Total cost of revenues
   
49,212
     
51,834
     
142,061
     
154,524
 
                                 
   Research and development
   
50,531
     
49,222
     
154,183
     
141,682
 
   Selling and marketing
   
124,142
     
105,963
     
368,393
     
326,831
 
   General and administrative
   
20,834
     
22,674
     
62,793
     
68,207
 
Total operating expenses
   
244,719
     
229,693
     
727,430
     
691,244
 
                                 
Operating income
   
226,104
     
224,934
     
663,489
     
657,406
 
Financial income, net
   
17,234
     
12,223
     
48,509
     
33,902
 
Income before taxes on income
   
243,338
     
237,157
     
711,998
     
691,308
 
Taxes on income
   
45,108
     
44,455
     
128,942
     
127,693
 
Net income
 
$
198,230
   
$
192,702
   
$
583,056
   
$
563,615
 
Basic earnings per share
 
$
1.27
   
$
1.19
   
$
3.71
   
$
3.45
 
Number of shares used in computing basic earnings per share
   
155,941
     
162,104
     
157,026
     
163,502
 
Diluted earnings per share
 
$
1.25
   
$
1.16
   
$
3.64
   
$
3.37
 
Number of shares used in computing diluted earnings per share
   
159,050
     
166,153
     
160,131
     
167,447
 
 
©2018 Check Point Software Technologies Ltd. All rights reserved         |         P.   6

CHECK POINT SOFTWARE TECHNOLOGIES LTD.
SELECTED FINANCIAL METRICS

 (In thousands, except per share amounts)

   
Three Months Ended
   
Nine Months Ended
 
   
September 30,
   
September 30,
 
   
2018
   
2017
   
2018
   
2017
 
   
(unaudited)
   
(unaudited)
   
(unaudited)
   
(unaudited)
 
                         
Revenues
 
$
470,823
   
$
454,627
   
$
1,390,919
   
$
1,348,650
 
Non-GAAP operating income
   
249,750
     
250,840
     
735,871
     
732,283
 
Non-GAAP net income
   
219,271
     
215,297
     
647,345
     
628,803
 
Diluted Non-GAAP Earnings per share
 
$
1.38
   
$
1.30
   
$
4.04
   
$
3.76
 
Number of shares used in computing diluted Non-GAAP earnings per share
   
159,050
     
166,153
     
160,131
     
167,447
 

CHECK POINT SOFTWARE TECHNOLOGIES LTD.
RECONCILIATION OF GAAP TO NON GAAP FINANCIAL INFORMATION

 (In thousands, except per share amounts)

   
Three Months Ended
   
Nine Months Ended
 
   
September 30,
   
September 30,
 
   
2018
   
2017
   
2018
   
2017
 
   
(unaudited)
   
(unaudited)
   
(unaudited)
   
(unaudited)
 
                         
GAAP operating income
 
$
226,104
   
$
224,934
   
$
663,489
   
$
657,406
 
Stock-based compensation (1)
   
21,310
     
22,647
     
64,451
     
65,100
 
Amortization of intangible assets and acquisition related expenses (2)
   
2,336
     
3,259
     
7,931
     
9,777
 
Non-GAAP operating income
 
$
249,750
   
$
250,840
   
$
735,871
   
$
732,283
 
                                 
GAAP net income
 
$
198,230
   
$
192,702
   
$
583,056
   
$
563,615
 
Stock-based compensation (1)
   
21,310
     
22,647
     
64,451
     
65,100
 
Amortization of intangible assets and acquisition related expenses (2)
   
2,336
     
3,259
     
7,931
     
9,777
 
Taxes on the above items (3)
   
(2,605
)
   
(3,311
)
   
(8,093
)
   
(9,689
)
Non-GAAP net income
 
$
219,271
   
$
215,297
   
$
647,345
   
$
628,803
 
                                 
Diluted GAAP Earnings per share
 
$
1.25
   
$
1.16
   
$
3.64
   
$
3.37
 
Stock-based compensation (1)
   
0.13
     
0.14
     
0.40
     
0.39
 
Amortization of intangible assets and acquisition related expenses (2)
   
0.02
     
0.02
     
0.05
     
0.06
 
Taxes on the above items (3)
   
(0.02
)
   
(0.02
)
   
(0.05
)
   
(0.06
)
Diluted Non-GAAP Earnings per share
 
$
1.38
   
$
1.30
   
$
4.04
   
$
3.76
 
                                 
Number of shares used in computing diluted Non-GAAP earnings per share
   
159,050
     
166,153
     
160,131
     
167,447
 
                                 
(1) Stock-based compensation:
                               
   Cost of products and licenses
 
$
41
   
$
38
   
$
117
   
$
77
 
   Cost of software updates and maintenance
   
921
     
700
     
2,458
     
1,932
 
   Research and development
   
4,741
     
4,383
     
12,989
     
11,981
 
   Selling and marketing
   
5,179
     
4,978
     
14,917
     
13,442
 
   General and administrative
   
10,428
     
12,548
     
33,970
     
37,668
 
     
21,310
     
22,647
     
64,451
     
65,100
 
                                 
(2) Amortization of intangible assets and acquisition related expenses:
                               
   Amortization of technology-cost of revenues
   
546
     
546
     
1,638
     
1,638
 
   Research and development
   
974
     
1,897
     
3,845
     
5,691
 
   Selling and marketing
   
816
     
816
     
2,448
     
2,448
 
     
2,336
     
3,259
     
7,931
     
9,777
 
(3) Taxes on the above items
   
(2,605
)
   
(3,311
)
   
(8,093
)
   
(9,689
)
Total, net
 
$
21,041
   
$
22,595
   
$
64,289
   
$
65,188
 

©2018 Check Point Software Technologies Ltd. All rights reserved         |         P.   7

CHECK POINT SOFTWARE TECHNOLOGIES LTD.
CONDENSED CONSOLIDATED BALANCE SHEET DATA

(In thousands)

ASSETS
 
   
September 30,
   
December 31,
 
   
2018
   
2017
 
   
(unaudited)
   
(audited)
 
Current assets:
           
Cash and cash equivalents
 
$
324,481
   
$
245,014
 
Marketable securities and short-term deposits
   
1,445,683
     
1,165,716
 
Trade receivables, net
   
312,688
     
472,223
 
Prepaid expenses and other current assets
   
51,657
     
81,478
 
Total current assets
   
2,134,509
     
1,964,431
 
                 
Long-term assets:
               
Marketable securities
   
2,301,606
     
2,437,315
 
Property and equipment, net
   
78,578
     
77,767
 
Deferred tax asset, net
   
110,515
     
119,431
 
Goodwill and other intangible assets, net
   
827,587
     
830,407
 
Other assets
   
53,534
     
33,575
 
Total long-term assets
   
3,371,820
     
3,498,495
 
                 
Total assets
 
$
5,506,329
   
$
5,462,926
 

LIABILITIES AND
SHAREHOLDERS’ EQUITY
 
Current liabilities:
           
Deferred revenues
 
$
834,776
   
$
878,287
 
Trade payables and other accrued liabilities
   
340,593
     
328,638
 
Total current liabilities
   
1,175,369
     
1,206,925
 
                 
Long-term liabilities:
               
Long-term deferred revenues
   
313,557
     
308,286
 
Income tax accrual
   
375,247
     
337,453
 
Accrued severance pay
   
9,735
     
10,139
 
     
698,539
     
655,878
 
                 
Total liabilities
   
1,873,908
     
1,862,803
 
                 
Shareholders’ equity:
               
Share capital
   
774
     
774
 
Additional paid-in capital
   
1,461,431
     
1,305,130
 
Treasury shares at cost
   
(6,601,600
)
   
(5,893,182
)
Accumulated other comprehensive loss
   
(33,391
)
   
(15,634
)
Retained earnings
   
8,805,207
     
8,203,035
 
Total shareholders’ equity
   
3,632,421
     
3,600,123
 
Total liabilities and shareholders’ equity
 
$
5,506,329
   
$
5,462,926
 
                 
Total cash and cash equivalents, marketable securities and short-term deposits
 
$
4,071,770
   
$
3,848,045
 


©2018 Check Point Software Technologies Ltd. All rights reserved         |         P.   8

CHECK POINT SOFTWARE TECHNOLOGIES LTD.
SELECTED CONSOLIDATED CASH FLOW DATA

(In thousands)
 
   
Three Months Ended
   
Nine Months Ended
 
   
September 30,
   
September 30,
 
   
2018
   
2017
   
2018
   
2017
 
   
(unaudited)
   
(unaudited)
   
(unaudited)
   
(unaudited)
 
Cash flow from operating activities:
                       
Net income
 
$
198,230
   
$
192,702
   
$
583,056
   
$
563,615
 
Adjustments to reconcile net income to net cash provided by operating activities:
                               
Depreciation of property and equipment
   
4,273
     
3,292
     
12,305
     
9,290
 
Amortization of intangible assets
   
940
     
940
     
2,820
     
2,820
 
Stock-based compensation
   
21,310
     
22,647
     
64,451
     
65,100
 
Realized loss on marketable securities
   
237
     
29
     
326
     
172
 
Decrease in trade and other receivables, net
   
13,156
     
55,001
     
194,892
     
196,935
 
Increase (decrease) in deferred revenues, trade payables and other accrued liabilities
   
8,730
     
(16,300
)
   
15,924
     
(24,906
)
Deferred income taxes, net
   
2,148
     
1,512
     
7,191
     
28,506
 
Net cash provided by operating activities
   
249,024
     
259,823
     
880,965
     
841,532
 
                                 
Cash flow from investing activities:
                               
                                 
Investment in property and equipment
   
(3,677
)
   
(8,412
)
   
(13,116
)
   
(22,487
)
Net cash used in investing activities
   
(3,677
)
   
(8,412
)
   
(13,116
)
   
(22,487
)
                                 
Cash flow from financing activities:
                               
Proceeds from issuance of shares upon exercise of options
   
83,273
     
56,324
     
182,370
     
120,030
 
Purchase of treasury shares
   
(299,982
)
   
(249,769
)
   
(798,939
)
   
(745,618
)
Payments related to shares withheld for taxes
   
(894
)
   
(772
)
   
(4,317
)
   
(4,836
)
Net cash used in financing activities
   
(217,603
)
   
(194,217
)
   
(620,886
)
   
(630,424
)
                                 
Unrealized (loss) gain on marketable securities, net
   
2,321
     
999
     
(23,238
)
   
6,954
 
                                 
Increase in cash and cash equivalents, marketable securities and short term deposits
   
30,065
     
58,193
     
223,725
     
195,575
 
                                 
Cash and cash equivalents, marketable securities and short term deposits at the beginning of the period
   
4,041,705
     
3,806,406
     
3,848,045
     
3,669,024
 
                                 
Cash and cash equivalents, marketable securities and short term deposits at the end of the period
 
$
4,071,770
   
$
3,864,599
   
$
4,071,770
   
$
3,864,599
 


©2018 Check Point Software Technologies Ltd. All rights reserved         |         P.   9

 
Signatures
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
 
       
By:
/s/ Tal Payne  
    Tal Payne  
    Chief Financial Officer & Chief Operating Officer  
       
October 24, 2018
 
©2018 Check Point Software Technologies Ltd. All rights reserved         |         P.   10