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📊 View earnings presentation

📄 Source: Check Point Q1 2026 press release

⚡ Q/Q Change Highlights

Revenue $668M, +5% YoY (Q2 2026: $674M, +1%) — growth slowed further in Q2 on product weakness
EPS $2.50 non-GAAP, +13% YoY (Q2 2026: $2.55, +8%) — profitability consistently strong
Security service revenue $323M, +11% YoY (Q2 2026: subscription $333M, +12% YoY — acceleration)
Product revenue remained soft in Q1 → 2026 revenue outlook trimmed; Q2 product revenue -14% YoY (worse)
2026 outlook cut at Q1 set up the "Q3 trough / Q4 rebound" framing at Q2

🎙️ CHKP — Apr 30, 2026

📄 Original Transcript

Check Point Software (CHKP) Q1 2026 Earnings Call — April 30, 2026

Source: Check Point Q1 2026 press release (Apr 30, 2026) + Seeking Alpha / Reuters summaries.

Kip Meintzer (Head of Global IR): Greetings, and welcome to Check Point Software's 2026 First Quarter Financial Results Video Conference. I'm Kip Meintzer, Global Head of Investor Relations. Joining me today are Chief Executive Officer Nadav Zafrir and Chief Financial Officer Roei Golan.

Nadav Zafrir (CEO): Our first quarter results reflect the strength and resilience of our business model, with continued growth in total revenues and strong earnings performance. We delivered solid first-quarter results driven by our security subscription and infrastructure businesses.

Roei Golan (CFO): Total revenues for the first quarter were $668 million, a 5% increase year over year. Security service revenue was $323 million, an increase of 11% year over year. Non-GAAP EPS was $2.50, a 13% increase year over year and above our guidance, driven by strong profitability and disciplined expense management.

While product revenue remained soft in the quarter, our subscription and services momentum continued to grow. We continue to manage the business with a focus on profitability and cash generation, while investing in our go-to-market engine and our emerging security portfolio.

[Note: Reuters reported Check Point's Q1 non-GAAP EPS of $2.50 beat the $2.40 analyst consensus, while revenue of $668 million grew ~5% and was roughly in line. The company trimmed its 2026 revenue outlook amid ongoing product-revenue softness as it transitions its go-to-market.]

Q&A Highlights (condensed)

Q: Product revenue weakness and outlook? A: Product (appliance) revenue remained soft as the go-to-market transition continued; the company's focus is on subscription/security-services growth and re-accelerating product revenue over the course of the year.
Q: Why cut the 2026 revenue outlook? A: Management trimmed the full-year revenue view to reflect the ongoing product-revenue softness and the pace of the go-to-market stabilization, while reaffirming profitability strength.
Q: Emerging technology momentum? A: Security subscription growth continued at a healthy pace, supported by the emerging portfolio (email security, CTEM, AI security), even as the core firewall product line matured.

📝 Summary

CHKP (Check Point Software) — Q1 2026 (Apr 30, 2026). EPS beat; revenue in-line; 2026 revenue outlook trimmed on product softness.

Results

Total revenues $668.4M, +5% YoY (vs $637.8M Q1 2025); roughly in line with consensus
Non-GAAP EPS $2.50 (+13% YoY), above the $2.40 consensus and above guidance
Security service revenue $323M, +11% YoY — the growth engine
Product (appliance) revenue remained soft; go-to-market transition still underway
Strong profitability and cash generation maintained

Guidance

FY2026 revenue outlook trimmed (Reuters: cuts 2026 revenue outlook) on product-revenue softness
Profitability/EPS strength reaffirmed; focus on go-to-market stabilization and emerging security portfolio

Capex

Capital-light model; strong cash generation; (see IR for specific buyback/cash deployment details)

Key Q&A

Q: Product weakness durability?
A: Go-to-market transition is the driver; management is focused on subscription growth and stabilizing/re-accelerating product revenue through the year
Q: Why cut 2026 revenue?
A: Reflects product softness and pace of go-to-market stabilization; profitability intact
Q: Emerging portfolio?
A: Security subscription +11% YoY supported by email security, CTEM, AI security momentum

Notes

Q1 = EPS beat, revenue in-line, but product weakness forced a 2026 revenue outlook cut — the transitional quarter
The "core firewall mature / subscription + emerging tech is the engine" narrative was already visible here (security services +11% YoY)
Q2 2026 (next print) showed subscription accelerating (+12%) while product worsened (-14%) and management framed Q3 as the trough — consistent with the Q1 go-to-market disruption story