Artificial Intelligence
Check Point Software Technologies Reports 2019 Fourth Quarter and Full Year Financial Results
SAN CARLOS, Calif., Feb. 03, 2020 (GLOBE NEWSWIRE) — Check Point® Software Technologies Ltd. (NASDAQ: CHKP), today announced its financial results for the fourth quarter and full year ended December 31, 2019.
Fourth Quarter 2019
- Total Revenues: $544 million, a 3 percent increase year over year
- GAAP Operating Income: $249 million, representing 46 percent of revenues
- Non-GAAP Operating Income: $280 million, representing 51 percent of revenues
- GAAP EPS: $1.84, a 21 percent increase year over year
- Non-GAAP EPS: $2.02, a 21 percent increase year over year
Full Year 2019
- Total Revenues: $1,995 million, a 4 percent increase year over year
- GAAP EPS: $5.43, a 5 percent increase year over year
- Non-GAAP EPS: $6.13, a 7 percent increase year over year
“We closed out the last decade with nearly two billion dollars in annual revenues and over one billion dollars in non-GAAP operating income. Over the last decade we introduced our security-as-a-service subscription model, which delivers the most advanced technologies in cyber. In 2019, subscription reached over six hundred million dollars in revenues and was driven by cloud, mobile and zero-day advanced threat prevention technologies,” said Gil Shwed, Founder and CEO of Check Point Software Technologies. “We began the new decade with the introduction of Infinity NEXT, the industry’s most comprehensive cyber security platform with over 60 security technologies that support over 50 types of assets including operating systems, cloud workloads, IoT devices, mobile devices and network of any type,” Shwed concluded.
Financial Highlights for the Fourth Quarter of 2019
- Total Revenues: $544 million compared to $526 million in the fourth quarter of 2018, a 3 percent increase year over year.
- GAAP Operating Income: $249 million compared to $250 million in the fourth quarter of 2018, representing 46 percent and 48 percent of revenues in the fourth quarter of 2019 and 2018, respectively.
- Non-GAAP Operating Income: $280 million compared to $279 million in the fourth quarter of 2018, representing 51 percent and 53 percent of revenues in the fourth quarter of 2019 and 2018, respectively.
- GAAP Taxes on income (tax benefit): $3.1 million tax benefit compared to $29 million tax expenses in the fourth quarter of 2018.
- GAAP Net Income & Earnings per Diluted Share: GAAP net income was $272 million compared to $238 million in the fourth quarter of 2018. GAAP earnings per diluted share were $1.84 compared to $1.51 in the fourth quarter of 2018, a 21 percent increase year over year.
- Non-GAAP Net Income & Earnings per Diluted Share: Non-GAAP net income was $299 million compared to $264 million in the fourth quarter of 2018. Non-GAAP earnings per diluted share were $2.02 compared to $1.68 in the fourth quarter of 2018, a 21 percent increase year over year.
- Deferred Revenues: As of December 31, 2019, deferred revenues were $1,387 million compared to $1,338 million as of December 31, 2018, a 4 percent increase year over year.
- Cash Balances, Marketable Securities & Short Term Deposits: $3,949 million as of December 31, 2019, compared to $4,039 million as of December 31, 2018.
- Cash Flow: Cash flow from operations of $246 million compared to $249 million in the fourth quarter of 2018.
- Share Repurchase Program: During the fourth quarter of 2019, the company repurchased approximately 2.9 million shares at a total cost of approximately $325 million. Today, we announced a $2 billion extension to the share repurchase program with authorization to repurchase up to $325 million each quarter.
Financial Highlights for the Year Ended December 31, 2019
- Total Revenues: $1,995 million compared to $1,916 million in 2018, a 4 percent increase year over year.
- GAAP Operating Income: $882 million compared to $914 million in 2018, representing 44 percent and 48 percent of revenues in 2019 and 2018, respectively.
- Non-GAAP Operating Income: $1,003 million compared to $1,015 million in 2018, representing 50 percent and 53 percent of revenues in 2019 and 2018, respectively.
- GAAP Taxes on Income: $137 million compared to $158 million in 2018.
- GAAP Net Income and Earnings per Diluted Share: GAAP net income was $826 million compared to $821 million in 2018. GAAP earnings per diluted share were $5.43 compared to $5.15 in 2018, a 5 percent increase year over year.
- Non-GAAP Net Income and Earnings per Diluted Share: Non-GAAP net income was $933 million compared to $911 million in 2018. Non-GAAP earnings per diluted share were $6.13 compared to $5.71 in 2018, a 7 percent increase year over year.
- Cash Flow: Cash flow from operations of $1,102 million compared to $1,130 million in 2018.
- Share Repurchase Program: During 2019, we purchased approximately 11.2 million shares at a total cost of approximately $1,278 million.
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.”
Check Point business highlights includes key announcements for 2019 to date addressing architecture, network security, threat prevention, cloud, workload and IOT security.
Consolidated Security Architecture
Infinity NEXT
Infinity NEXT is the industry’s most complete, consolidated security architecture. Infinity NEXT utilizes cloud native architecture and is designed to protect any asset, anywhere via innovative Nano Agent technology and a full spectrum of over 60 adaptive threat prevention security practices delivered as a service.
Network Security
R80.40 Software
R80 is the industry’s most advanced threat prevention and security management software for data centers, cloud, mobile, endpoint and IoT. The new R80.40 software has over 100 new features, including inspection of SSH and HTTP/2 protocols, optimal CPU utilization based on dynamic workloads technology, zero-touch deployment for new appliances, and IoT policy and enforcement.
Quantum Security Gateways
The new Quantum Security Gateways include six new Security Gateways which feature Check Point’s ThreatCloud and SandBlast Zero-Day Protection. The new range includes the 3600, 6200, 6600 and 6900 Quantum Security Gateways, and the Check Point Maestro Gateways 16000 and 26000 Turbo Hyperscale, which delivers 120Gbps of Gen V Threat Prevention throughput.
Series 1500 Gateways – SMB Security
New series of small and medium business appliances set new standards of protection against the most advanced fifth-generation cyberattacks, and offer unrivalled ease of deployment and management with up to two times more performance from previous generations. The 1550 Gateway offers 450Mbps of threat prevention performance, and the 1590 Gateway offers 660Mbps.
Maestro – Cloud Grade Elasticity & Resiliency
Check Point Maestro is a revolutionary new architecture that enables businesses of any size to enjoy the power of cloud-grade elasticity and resiliency in a security platform. Maestro enables seamless expansion of existing security gateways to hyper scale capacity by allowing businesses to expand from one gateway up to 52 gateways in minutes and realize the performance of massive Terabits/second firewall throughput.
CloudGuard Connect & Edge – SD-WAN Cloud delivered network security
Check Point CloudGuard Connect and CloudGuard Edge deliver top-rated Threat Prevention updated in real-time with the latest ThreatCloud intelligence, flexibility to deploy branch office security in minutes from the cloud or on-premise, seamless integration with leading SD-WAN providers like VMware and Silver Peak, and a unified threat and access management platform that can significantly reduce operational expense.
Threat Prevention
Malware DNA – Artificial Intelligence-Based Malware Detection Engine
Malware DNA accelerates Zero-Day Threat Prevention. New engine scans unknown malware for code patterns that match existing known malware, further accelerating the identification and blocking of previously undiscovered malware, and reducing response times.
Highest Security Effectiveness Score – Second NSS Labs Breach Prevention Systems Test
NSS Labs tested Check Point’s Next Gen Firewall Security Gateway, Threat Prevention and Advanced Endpoint Security, earning the solution a “Recommended” rating for its security effectiveness and TCO per protected Mbps. The rating further validates Check Point’s ongoing ability to protect organizations by preventing the most advanced cyber-attacks.
SandBlast Mobile Recognized as Security Leader
Check Point achieved a 99% security rating in Miercom’s Mobile Threat Defense (MTD) Industry Assessment for its solution, SandBlast Mobile, surpassing all tested vendors’ solutions.
Cloud & Workload Security
CloudGuard Log.ic – Analytics Solution Exposes Unseen Cloud Threats
CloudGuard Log.ic provides threat protection and context-rich security intelligence in the public cloud, enabling operations teams to see every IaaS and PaaS asset, understand cloud activities, and easily launch forensics.
Cloud Security Leadership Extended with Unmatched Serverless Protection
Check Point announced a new Serverless security technology. Check Point is first to market with a consolidated security solution for cloud workload protection (CWPP) and security posture management (CSPM), delivering continuous serverless security with unmatched run time protection and application hardening. Protego, an Israeli startup, provides a serverless security technology that prevents malicious attacks on serverless functions in run time, and prevents vulnerable code from being deployed into production.
CloudGuard Exended with Fully-integrated Support for Kubernetes
Check Point delivers fully Integrated Cloud security for Kubernetes – extended the capabilities of its CloudGuard cloud security platform to support Kubernetes computing services, including Amazon Elastic Kubernetes Service (Amazon EKS) and Amazon Elastic Container Service (Amazon ECS). Customers can ensure that their Kubernetes configurations continuously comply with established container security baselines and secures traffic between Kubernetes and on premise or cloud assets using IPsec VPN
IOT
Revolutionizing IOT Cyber Security
Check Point announced new IoT cyber security technology. Check Point provides a consolidated security solution that hardens and protects the firmware of IoT devices and is designed to make them secure against the most sophisticated attacks. The technology is provided through the acquisition of Cymplify, a startup based in Tel Aviv. The new technology will be integrated into Check Point’s Infinity architecture.
Check Point Research https://research.checkpoint.com uncovered numerous findings that included WhatsApp, TikTok and Android Applications. We also published new findings about malware families including multiple types of Ransomware, malware on computers and mobile devices.
Vulnerabilities in Applications & Infrastructure
Web Conferencing Vulnerabilities
Have you ever wondered if someone can eavesdrop on your company’s meetings and learn the details of your biggest secrets? Imagine a stranger sitting just next to you in the same room, when you are discussing your “next big thing.” In this publication we describe a technique which would have allowed a threat actor to perform exactly that type of attack over the Zoom web conferencing platform.
Don’t be silly, it’s only a lightbulb
After analyzing the security of ZigBee IoT devices, specifically the smart hub that bridges between the IP and Zigbee network. By masquerading as a legitimate Zigbee lightbulb, Check Point Research was able to find and exploit vulnerabilities in the bridge that enabled them to infiltrate the IP network using a remote over-the-air ZigBee exploit.
AzureStack SSRF to Info Disclosure
Check Point Research discovered major flaws in Microsoft’s popular cloud platform that is intended to poke a hole in the (false) security concept provided by the cloud providers.
Vulnerabilities in TikTok
Our research revealed multiple vulnerabilities in TikTok. The research found that an attacker could send a spoofed SMS message to a user containing a malicious link and that Tiktok’s subdomain https://ads.tiktok.com was vulnerable to XSS attacks. These vulnerabilities could have allowed an attacker to manipulate content on a user’s account and even extract confidential personal information saved on these accounts.
WhatsApp Crash & Data Loss Bug
Check Point Research found a vulnerability in WhatsApp that could allow an attacker to deliver a malicious group chat message that would crash the app and cause data loss. To regain use of WhatsApp, users would need to uninstall and reinstall it, then delete the group which contains the message.
Vulnerabilities in Android Applications
Discovered that multiple applications on the Google Play store, including Facebook, are vulnerable to very old vulnerabilities. The vulnerabilities could potentially allow an attacker to steal data related to the app and gain Android permissions which the app has access to such as a user’s location.
Ransomware Research
DeCypherIT
To evade detection, malware developers use packers to encrypt their malicious crafts before releasing them to the wild. Check Point Research discusses a case study where they were able to decrypt a specific packer that is very popular among malware developers. The developers of this packer offer it for sale on the internet, and promise it is undetectable.
Incident Response Casefile – A successful BEC leveraging lookalike domains
Cyber criminals hacked a wire transfer between a Chinese venture capital firm and an Israeli startup. After the criminals hijacked a one million dollar wire transaction, Check Point’s Incidence Response Team investigated the case.
Phorpiex botnet
The Phorpiex botnet is spread through exploit kits and with the help of other malware, has infected more than 1,000,000 Windows computers. The annual criminal revenue generated by Phorpiex botnet is approximately half a million US dollars.
In the Footsteps of a Sextortion Campaign
Check Point Research exposed a spam botnet, dubbed Phorpiex, which is responsible for a large portion of the sextortion traffic seen in the wild. We monitored the operation and recorded Bitcoin transfers to the Phorpiex campaign wallets whose current value is over $110,000.
Eye on the Nile-a cyber-operation
Check Point’s research team uncovered an operation against civil rights activists, as well as Amnesty members in Egypt. Following an initial report by Amnesty International in March, CPR uncovered the scope and means of a sophisticated attack allegedly linked to the Egyptian ministry and government site.
Conference Call and Webcast Information
Check Point will host a conference call with the investment community on February 3, 2020, 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 2020 Investor Conference Participation Schedule
- Goldman Sachs Technology & Internet Conference 2020
February 12, 2020 – San Francisco, CA - Raymond James 2020 Institutional Investor Conference
March 2, 2020 – Orlando, FL - Morgan Stanley 2020 Media, Telecommunications & Technology Conference
March 4, 2020 – San Francisco, CA - SunTrust Robinson Humphrey 2020 Technology, Internet & Services Conference
March 10, 2020 – New York, NY - Credit Suisse Investor Relations 1×1 Conference
March 12, 2020 – New York, NY
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 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.
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.
©2020 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, customer and market acceptance of our products and solutions, and our participation in investor conferences during the first quarter of 2020. 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; our ability to successfully integrate and offer acquired products and services; 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 23, 2019. 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.
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, | |||||||||||
2019 | 2018 | 2019 | 2018 | |||||||||
Revenues: | ||||||||||||
Products and licenses | $157.9 | $160.6 | $510.8 | $525.6 | ||||||||
Security subscriptions | 163.7 | 146.7 | 610.3 | 542.3 | ||||||||
Total revenues from products and security subscriptions | 321.6 | 307.3 | 1,121.1 | 1,067.9 | ||||||||
Software updates and maintenance | 222.2 | 218.3 | 873.7 | 848.6 | ||||||||
Total revenues | 543.8 | 525.6 | 1,994.8 | 1,916.5 | ||||||||
Operating expenses: | ||||||||||||
Cost of products and licenses | 28.8 | 29.3 | 90.7 | 92.0 | ||||||||
Cost of security subscriptions | 6.7 | 5.6 | 24.6 | 17.7 | ||||||||
Total cost of products and security subscriptions | 35.5 | 34.9 | 115.3 | 109.7 | ||||||||
Cost of Software updates and maintenance | 24.7 | 23.2 | 94.5 | 88.9 | ||||||||
Amortization of technology | 1.4 | 1.2 | 5.6 | 2.8 | ||||||||
Total cost of revenues | 61.6 | 59.3 | 215.4 | 201.4 | ||||||||
Research and development | 62.7 | 57.3 | 239.2 | 211.5 | ||||||||
Selling and marketing | 141.5 | 132.5 | 552.7 | 500.9 | ||||||||
General and administrative | 28.7 | 26.2 | 105.7 | 88.9 | ||||||||
Total operating expenses | 294.5 | 275.3 | 1,113.0 | 1,002.7 | ||||||||
Operating income | 249.3 | 250.3 | 881.8 | 913.8 | ||||||||
Financial income, net | 19.9 | 16.6 | 80.6 | 65.1 | ||||||||
Income before taxes on income | 269.2 | 266.9 | 962.4 | 978.9 | ||||||||
Taxes on income (tax benefit) | (3.1 | ) | 28.6 | 136.7 | 157.6 | |||||||
Net income | $272.3 | $238.3 | $825.7 | $821.3 | ||||||||
Basic earnings per share | $1.86 | $1.53 | $5.48 | $5.24 | ||||||||
Number of shares used in computing basic earnings per share | 146.7 | 155.5 | 150.6 | 156.6 | ||||||||
Diluted earnings per share | $1.84 | $1.51 | $5.43 | $5.15 | ||||||||
Number of shares used in computing diluted earnings per share | 148.1 | 157.4 | 152.1 | 159.4 |
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
SELECTED FINANCIAL METRICS
(Unaudited, in millions, except per share amounts)
Three Months Ended | Year Ended | |||||||||||
December 31, | December 31, | |||||||||||
2019 | 2018 | 2019 | 2018 | |||||||||
Revenues | $543.8 | $525.6 | $1,994.8 | $1,916.5 | ||||||||
Non-GAAP operating income | 279.7 | 279.2 | 1,002.8 | 1,015.0 | ||||||||
Non-GAAP net income | 299.3 | 263.7 | 933.0 | 911.0 | ||||||||
Diluted Non-GAAP Earnings per share | $2.02 | $1.68 | $6.13 | $5.71 | ||||||||
Number of shares used in computing diluted Non-GAAP earnings per share | 148.1 | 157.4 | 152.1 | 159.4 |
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, | |||||||||||||||
2019 | 2018 | 2019 | 2018 | |||||||||||||
GAAP operating income | $249.3 | $250.3 | $881.8 | $913.8 | ||||||||||||
Stock-based compensation (1) | 26.7 | 24.9 | 106.7 | 89.3 | ||||||||||||
Amortization of intangible assets and acquisition related expenses (2) | 3.7 | 4.0 | 14.3 | 11.9 | ||||||||||||
Non-GAAP operating income | $279.7 | $279.2 | $1,002.8 | $1,015.0 | ||||||||||||
GAAP net income | $272.3 | $238.3 | $825.7 | $821.3 | ||||||||||||
Stock-based compensation (1) | 26.7 | 24.9 | 106.7 | 89.3 | ||||||||||||
Amortization of intangible assets and acquisition related expenses (2) | 3.7 | 4.0 | 14.3 | 11.9 | ||||||||||||
Taxes on the above items (3) | (3.4 | ) | (3.5 | ) | (13.7 | ) | (11.5 | ) | ||||||||
Non-GAAP net income | $299.3 | $263.7 | $933.0 | $911.0 | ||||||||||||
Diluted GAAP Earnings per share | $1.84 | $1.51 | $5.43 | $5.15 | ||||||||||||
Stock-based compensation (1) | 0.18 | 0.16 | 0.70 | 0.56 | ||||||||||||
Amortization of intangible assets and acquisition related expenses (2) | 0.02 | 0.03 | 0.10 | 0.07 | ||||||||||||
Taxes on the above items (3) | (0.02 | ) | (0.02 | ) | (0.10 | ) | (0.07 | ) | ||||||||
Diluted Non-GAAP Earnings per share | $2.02 | $1.68 | $6.13 | $5.71 | ||||||||||||
Number of shares used in computing diluted Non-GAAP earnings per share | 148.1 | 157.4 | 152.1 | 159.4 | ||||||||||||
(1) Stock-based compensation: | ||||||||||||||||
Cost of products and licenses | $0.1 | $0.0 | $0.2 | $0.1 | ||||||||||||
Cost of software updates and maintenance | 1.0 | 0.9 | 4.2 | 3.4 | ||||||||||||
Research and development | 4.5 | 4.7 | 18.9 | 17.7 | ||||||||||||
Selling and marketing | 8.0 | 5.9 | 28.8 | 20.8 | ||||||||||||
General and administrative | 13.1 | 13.4 | 54.6 | 47.3 | ||||||||||||
26.7 | 24.9 | 106.7 | 89.3 | |||||||||||||
(2) Amortization of intangible assets and acquisition related expenses: | ||||||||||||||||
Amortization of technology-cost of revenues | 1.4 | 1.2 | 5.6 | 2.8 | ||||||||||||
Research and development | 1.9 | 2.0 | 6.9 | 5.8 | ||||||||||||
Selling and marketing | 0.4 | 0.8 | 1.8 | 3.3 | ||||||||||||
3.7 | 4.0 | 14.3 | 11.9 | |||||||||||||
(3) Taxes on the above items | (3.4 | ) | (3.5 | ) | (13.7 | ) | (11.5 | ) | ||||||||
Total, net | $27.0 | $25.4 | $107.3 | $89.7 |
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
CONDENSED CONSOLIDATED BALANCE SHEET DATA
(Unaudited, in millions)
ASSETS
December 31, | December 31, | |||||||
2019 | 2018 | |||||||
Current assets: | ||||||||
Cash and cash equivalents | $279.2 | $303.6 | ||||||
Marketable securities and short-term deposits | 1,300.7 | 1,448.2 | ||||||
Trade receivables, net | 495.8 | 495.4 | ||||||
Prepaid expenses and other current assets | 58.5 | 74.7 | ||||||
Total current assets | 2,134.2 | 2,321.9 | ||||||
Long-term assets: | ||||||||
Marketable securities | 2,368.8 | 2,287.3 | ||||||
Property and equipment, net | 87.7 | 78.5 | ||||||
Deferred tax asset, net | 55.3 | 84.7 | ||||||
Goodwill and other intangible assets, net | 1,024.7 | 991.5 | ||||||
Other assets | 94.2 | 64.3 | ||||||
Total long-term assets | 3,630.7 | 3,506.3 | ||||||
Total assets | $5,764.9 | $5,828.2 |
LIABILITIES AND
SHAREHOLDERS’ EQUITY
Current liabilities: | |||||||||
Deferred revenues | $1,011.9 | $980.2 | |||||||
Trade payables and other accrued liabilities | 384.8 | 351.7 | |||||||
Total current liabilities | 1,396.7 | 1,331.9 | |||||||
Long-term liabilities: | |||||||||
Long-term deferred revenues | 374.8 | 357.8 | |||||||
Income tax accrual | 393.3 | 356.7 | |||||||
Other long-term liabilities | 31.3 | 9.4 | |||||||
799.4 | 723.9 | ||||||||
Total liabilities | 2,196.1 | 2,055.8 | |||||||
Shareholders’ equity: | |||||||||
Share capital | 0.8 | 0.8 | |||||||
Additional paid-in capital | 1,770.3 | 1,597.8 | |||||||
Treasury shares at cost | (8,092.7 | ) | (6,844.7 | ) | |||||
Accumulated other comprehensive gain (loss) | 21.7 | (24.5 | ) | ||||||
Retained earnings | 9,868.7 | 9,043.0 | |||||||
Total shareholders’ equity | 3,568.8 | 3,772.4 | |||||||
Total liabilities and shareholders’ equity | $5,764.9 | $5,828.2 | |||||||
Total cash and cash equivalents, marketable securities and short-term deposits | $3,948.7 | $4,039.1 |
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
SELECTED CONSOLIDATED CASH FLOW DATA
(Unaudited, in millions)
Three Months Ended | Year Ended | ||||||||||||||
December 31, | December 31, | ||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||
Cash flow from operating activities: | |||||||||||||||
Net income | $272.3 | $238.3 | $825.7 | $821.3 | |||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||
Depreciation of property and equipment | 5.0 | 4.1 | 16.7 | 16.4 | |||||||||||
Amortization of intangible assets | 1.8 | 1.6 | 7.3 | 4.4 | |||||||||||
Stock-based compensation | 26.7 | 24.9 | 106.7 | 89.3 | |||||||||||
Realized loss (gain) on marketable securities | (0.7 | ) | 1.5 | (0.5 | ) | 1.8 | |||||||||
Decrease (increase) in trade and other receivables, net | (198.8 | ) | (215.3 | ) | 21.0 | (20.4 | ) | ||||||||
Increase in deferred revenues, trade payables and other accrued liabilities | 137.9 | 158.5 | 112.6 | 174.5 | |||||||||||
Deferred income taxes, net | 2.2 | 35.5 | 12.8 | 42.8 | |||||||||||
Net cash provided by operating activities | 246.4 | 249.1 | 1,102.3 | 1,130.1 | |||||||||||
Cash flow from investing activities: | |||||||||||||||
Cash paid in conjunction with acquisitions, net of acquired cash | (32.5 | ) | (154.9 | ) | (37.6 | ) | (154.9 | ) | |||||||
Investment in property and equipment | (5.8 | ) | (4.0 | ) | (25.9 | ) | (17.1 | ) | |||||||
Net cash used in investing activities | (38.3 | ) | (158.9 | ) | (63.5 | ) | (172.0 | ) | |||||||
Cash flow from financing activities: | |||||||||||||||
Proceeds from issuance of shares upon exercise of options | 10.4 | 171.1 | 95.3 | 353.5 | |||||||||||
Purchase of treasury shares | (325.0 | ) | (304.9 | ) | (1,278.0 | ) | (1,103.9 | ) | |||||||
Payments related to shares withheld for taxes | (0.6 | ) | (0.3 | ) | (6.0 | ) | (4.6 | ) | |||||||
Net cash used in financing activities | (315.2 | ) | (134.1 | ) | (1,188.7 | ) | (755.0 | ) | |||||||
Unrealized gain (loss) on marketable securities, net | 0.7 | 11.2 | 59.5 | (12.0 | ) | ||||||||||
Increase (decrease) in cash and cash equivalents, marketable securities and short term deposits | (106.4 | ) | (32.7 | ) | (90.4 | ) | 191.1 | ||||||||
Cash and cash equivalents, marketable securities and short term deposits at the beginning of the period | 4,055.1 | 4,071.8 | 4,039.1 | 3,848.0 | |||||||||||
Cash and cash equivalents, marketable securities and short term deposits at the end of the period | $3,948.7 | $4,039.1 | $3,948.7 | $4,039.1 |
INVESTOR CONTACT: Kip E. Meintzer Check Point Software Technologies +1.650.628.2040 [email protected] |
MEDIA CONTACT: Gil Messing Check Point Software Technologies +1.650.628.2260 [email protected] |
Artificial Intelligence
Lithium Miners Strategize for Long-Term Gains as Market Recovers
USA News Group Commentary
Issued on behalf of Lithium South Development Corporation
VANCOUVER, BC, May 3, 2024 /PRNewswire/ — USA News Group – Despite what appears to be a supply glut currently in the global lithium market, already there are signs of a lithium rebound on the horizon. According to Statista, global lithium demand is projected to grow through next year, while Fastmarkets predicts lithium supply will increase 30% in 2024. Fastmarkets also expects that by 2030, US lithium demand alone will grow by nearly 500%. Looking ahead, lithium miners continue to move their chess pieces onto the board with anticipation of long-term rewards, including the work of Lithium South Development Corporation (TSXV:LIS) (OTC:LISMF), Sociedad Química y Minera de Chile S.A. (SQM) (NYSE:SQM), Piedmont Lithium Inc. (NASDAQ:PLL), Lithium Americas Corp. (NYSE:LAC) (TSX:LAC), and Rio Tinto Group (NYSE:RIO).
Lithium South Development Corporation (TSXV:LIS) (OTC:LISMF) recently filed a new Preliminary Economic Assessment (PEA), which provides support for the company to proceed with development plans for a 15,600 tonnes per year lithium carbonate plant. As per the PEA, the project’s financial model shows a Net Present Value (NPV) after tax of US$938 million, and an after-tax Internal Rate of Return (IRR) of 31.6%, with a 2.5-year payback.
“We are very pleased to have achieved this important milestone for the HMN Li Project,” said Adrian F.C. Hobkirk, Founder, President and CEO of Lithium South. “The robust economics and room for expansion indicate a promising future for Lithium South.”
The HMN Li project is planned to use an extraction and recovery process based on conventional solar evaporation of the well brine. Magnesium and other contaminants will be removed using industry standard proven methods including liming. The concentrated lithium solution will then be processed into lithium carbonate technical grade.
The PEA announcement came just weeks after the company announced the expansion of its ongoing production well drill program. A 400 meter deep pumping well has been completed at the Alba Sabrina claim block, which at 2,089 hectares is the project’s largest. Recent efforts at the well successfully cleared out sediments, leading to the flow of clear brine with strong artesian characteristics, suggesting potential for enhanced brine extraction rates. To maximize these benefits, Lithium South has contracted a significantly larger 80-kilowatt pump, and is now completing a long term pump test. Based on results, further wells are planned for Alba Sabrina and the southern claim blocks at Viamonte and Norma Edith.
“These developments on the Alba Sabrina claim block could potentially enhance our operational capacity,” said Hobkirk. “The completion of this pumping test, anticipated by the end of May, will provide critical technical insight into the capacity potential of this area of the salar.”
Earlier in the year, Lithium South together with the Korean conglomerate POSCO, entered into a cooperative development agreement on the HMN Li Project, representing a crucial step forward in advancing towards lithium production. Previously, towards the end of 2023, Lithium South also released an updated NI 43-101 technical report for its premier HMN Li asset, which demonstrated a significant 175% boost in its lithium resource, amounting to over 1.58 million tonnes of lithium carbonate equivalent (LCE).
According to Chile’s Sociedad Química y Minera de Chile S.A. (SQM) (NYSE:SQM), there will be steady lithium prices in the coming months, despite the supply glut. In particular, SQM is optimistic for the second half of the year, which the company predicts will entail higher sales volumes.
“As we enter into 2024, we anticipate another robust year of growth in lithium market, with global demand increasing by at least 20%, supported by electric vehicle sales growth globally and increasing demand for battery materials,” said Ricardo Ramos, CEO of SQM. “However, the excess in lithium and battery materials capacity seen during last year is expected to continue during this year, keeping pressure on lithium market prices. We expect our average lithium prices to remain relatively stable throughout the year and our sales volumes to increase slightly during this year, subject to market conditions and any changes in supply-demand balance.”
This optimism was shared by Keith Phillips, CEO of Piedmont Lithium Inc. (NASDAQ:PLL) in an interview with Yahoo! Finance Live.
“[When it comes to mining] low prices are the cure for low prices,” said Phillips, adding that “it’s a matter of time” that prices will rebound. How fast that rebound occurs is still to be determined, however, Piedmont isn’t slowing its march.
Just recently, Piedmont received its state mining permit from the state of North Carolina, where the company owns 3,600 acres, from which it plans to mine spodumene from at least half of the area. Piedmont will then convert the material to lithium hydroxide, which is key to the manufacturing of EV batteries.
“We look forward to continued engagement with the local community and the Gaston County Board of Commissioners,” said Phillips. “We have had extensive and ongoing dialogue with possible funding sources for Carolina Lithium.”
Domestically sourced lithium is projected to become even more desirable, especially with US government incentives underway. Lithium Americas Corp. (NYSE:LAC) (TSX:LAC) recently secured a record $2.26 billion loan from the US Department of Energy to build its Thacker Pass lithium project in Nevada.
Construction began at the site located just south of the Nevada-Oregon border in March 2023, following a lengthy and intricate legal victory over conservationists, ranchers, and Indigenous groups. Lithium Americas anticipates finalizing securing a loan later this year, pending the completion of final environmental assessments. Once the financing is in place, the company aims to commence substantial construction activities, a project slated to last three years. The initial phase of the mine is projected to yield 40,000 metric tons of battery-grade lithium carbonate annually, sufficient to supply up to 800,000 electric vehicles.
“Our team has been focused on refining the development plan and de-risking construction execution of Phase 1 for Thacker Pass,” said Jonathan Evans, President and CEO of Lithium Americas. “We have de-risked execution by advancing detailed engineering and project planning. To date, we have completed all the early-works and infrastructure required for major construction, including excavating the processing plant areas.”
Looking at multiple international lithium projects, mining giant Rio Tinto Group (NYSE:RIO) has already expressed the company remains bullish on lithium despite not currently seeking any big acquisitions. Back in March, Rio Tinto committed to spending $350 million on its Rincon lithium project in Argentina, set to commence production by the end of the year.
This comes just months after the President of Serbia expressed interest to hold further talks with Rio Tinto regarding its Jadar lithium project, after the country revoked licenses on the $2.4 billion asset in 2022. If brought to completion, the project could supply 90% of Europe’s current lithium needs, and make Rio Tinto a leading lithium producer. As well, Rio Tinto held talks with the country of Rwanda back in January for the exploration and mining of lithium in the East African nation.
“[Rio Tinto is] “excited to be partnering with the government of Rwanda, applying our global experience to accelerate the search for primary lithium deposits in Rwanda’s Western Province,” said Lawrence Dechambenoit, global head of external affairs at Rio Tinto. The move could further unlock the potential of another country’s mining sector, if successful.
Source: https://usanewsgroup.com/2023/10/18/the-lithium-race-to-power/
CONTACT:USA NEWS [email protected] (604) 265-2873
Mr. William Feyerabend, a Consulting Geologist and Qualified Person under National Instrument 43-101 participated in the production of this advertisement, and approves of the technical and scientific disclosure contained herein pertaining to Lithium South.
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Lithium South Development Corporation advertising and digital media from the company directly. There may be 3rd parties who may have shares of Lithium South Development Corporation, and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Lithium South Development Corporation which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Lithium South Development Corporation at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. The contents of this advertisement were reviewed by Mr. William Feyerabend, a Consulting Geologist and Qualified Person as defined under National Instrument 43-101. Mr. Feyerabend approves of the scientific and technical disclosure pertaining to Lithium South contained within this advertisement. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
View original content:https://www.prnewswire.co.uk/news-releases/lithium-miners-strategize-for-long-term-gains-as-market-recovers-302135776.html
Artificial Intelligence
ROLLER and Amusement Connect Announce Integration to Streamline Cashless Card Operations
New partnership enhances guest experiences and operational efficiency across attraction venues
AUSTIN, Texas, May 3, 2024 /PRNewswire/ — In an effort to improve the guest experience and streamline operations for attractions venues, ROLLER, a global leader in leisure and attractions technology, has joined forces with Amusement Connect, a recognized leader in cashless card operations. This strategic partnership delivers an integration that aims to streamline the arcade experience for operators and guests alike, providing a more efficient way for entertainment venues to operate.
Through this integration, ROLLER and Amusement Connect enable the sale, top-up, and balance checks of cashless cards directly from ROLLER’s point-of-sale devices, simplifying the management of pay-to-play attractions. This move is expected to enhance operational efficiency and improve guest satisfaction by making sales smoother and more convenient. The integration also simplifies reporting by automatically recording every purchase of a cashless card, saving venue operators time and ensuring accurate tracking of purchases.
Both companies leverage cloud-based technology to ensure that venues can operate without the need for expensive servers, with the promise of continuous updates to keep the systems equipped with the latest features and improvements. This integration also introduces the option for guests to purchase game cards online through ROLLER’s online checkout, a feature designed to make the check-in process more efficient and increase average transaction values.
“Amusement Connect and ROLLER have a shared commitment to helping attractions businesses deliver exceptional guest experiences. So, we’re thrilled to partner with Amusement Connect on this integration – a trailblazing company known for great customer support and providing innovative tech. This isn’t just about upgrading our technology—it’s delivering on our promise to make every guest experience smoother and every operator’s day a bit easier,” explained Luke Finn, CEO and Founder of ROLLER.
“As we continue to innovate and collaborate with industry leaders like ROLLER, we’re thrilled to see the tangible benefits our integration brings to our customers. Together, we’re not just transforming transactions; we’re elevating experiences and driving profitability with every interaction,” commented Frank Licausi, Co-Owner of Amusement Connect.
This partnership between ROLLER and Amusement Connect represents a significant step towards more streamlined operations in the amusement industry. It offers a blend of efficiency and convenience aimed at improving the way entertainment venues operate and enhancing the overall guest experience. For more information on this integration and how it can benefit your venue, contact ROLLER or Amusement Connect directly.
About ROLLER
ROLLER is the cloud-based venue management platform for the modern attraction, purpose-built to remove friction from the guest experience at every touchpoint. Their all-in-one platform simplifies its customers’ business processes, improving efficiency and maximizing revenue. ROLLER’s comprehensive solution includes: Online Checkout & Ticketing, Point-of-Sale, Integrated Payments, Memberships, Gift Cards, Waivers, Self-Serve Kiosks, Cashless Wallets, the Guest Experience Score®, and more. To learn more, visit roller.software.
About Amusement Connect
Founded by Frank Licausi and John Tarpley in 2017, our comprehensive game card system, accompanied by a variety of products, provides a complete overview on games and attractions in settings like bars, arcades, FEC’s, and multi-location entertainment centers. As operators and industry experts, we bring innovation, value, and the best possible experiences to entertainment venues with our award-winning game card system. Bringing you more at amusementconnect.com.
View original content:https://www.prnewswire.co.uk/news-releases/roller-and-amusement-connect-announce-integration-to-streamline-cashless-card-operations-302135415.html
Artificial Intelligence
Computer Vision in Healthcare Market Worth $11.5 billion | MarketsandMarkets™
CHICAGO, May 3, 2024 /PRNewswire/ — Computer Vision in Healthcare Market in terms of revenue was estimated to be worth $3.9 billion in 2024 and is poised to reach $11.5 billion by 2029, growing at a CAGR of 24.0% from 2024 to 2029 according to a new report by MarketsandMarkets™.
The market’s expansion is fueled by the exponential growth of medical imaging data which necessitates efficient analysis methods, where computer vision techniques excel in automating and enhancing diagnostic processes. Further, the demand for improved patient care and outcomes fuels the adoption of AI-driven solutions, empowering healthcare providers with precise tools for diagnosis, treatment planning, and monitoring. Nevertheless, ensuring the accuracy and reliability of computer vision algorithms remains a significant challenge, especially in complex medical imaging tasks where errors can have critical consequences. Additionally, the regulatory landscape surrounding AI-based medical devices is evolving, requiring stringent validation and approval processes, which can impede the timely deployment of innovative solutions. Thus, restraining the market.
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Browse in-depth TOC on “Computer Vision in Healthcare Market”
505 – Tables55 – Figures379 – Pages
Computer Vision in Healthcare Market Scope:
Report Coverage
Details
Market Revenue in 2024
$3.9 billion
Estimated Value by 2029
$11.5 billion
Growth Rate
Poised to grow at a CAGR of 24.0%
Market Size Available for
2022–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Product & Service, Type, Applications, End User
Geographies Covered
North America, Europe, Asia Pacific, Latin America and Middle East and Africa
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Computer vision solutions for healthcare that are hosted in the cloud
Key Market Drivers
The healthcare sector is experiencing a growing need for computer vision systems
“The largest share in the computer vision in healthcare market, based on type, was attributed to the PC-based computer vision systems segment in 2023.”
The PC-based computer vision systems segment holds the largest market share in the computer vision in healthcare market in 2023. The growth of this segment is propelled by factors such as PCs offering robust computational power, enabling real-time processing of complex algorithms required for tasks like medical image analysis. Also, PCs provide flexibility and scalability, allowing users to customize hardware configurations and software solutions according to specific requirements. This versatility makes them adaptable to various healthcare settings, from small clinics to large hospitals.
“In 2023, the patient activity monitoring/fall prevention segment demonstrated the most significant growth in the computer vision in healthcare market based on hospital management by type.”
The patient activity monitoring/fall prevention segment is expected to experience the highest growth in the computer vision in healthcare market. The key drivers for this growth include the aging population worldwide that has led to an increased focus on elderly care and fall prevention initiatives. Computer vision systems offer non-intrusive and continuous monitoring of patients’ movements, enabling early detection of potential fall risks and timely intervention to prevent accidents. Also, the growing adoption of wearable devices and smart sensors integrated with computer vision technology allows for seamless monitoring of patients’ activities both inside healthcare facilities and at home. This remote monitoring capability enhances patient safety and independence while reducing the burden on caregivers and healthcare resources.
“North America accounted for the largest share of the healthcare simulation market in 2023.”
In 2023, North America held the largest share in the computer vision in healthcare market, with Europe and Asia Pacific following. The significant presence of North America in the global market can be attributed to factors such as region’s strong focus on improving patient outcomes and reducing healthcare costs which incentivizes the integration of computer vision solutions to streamline processes, enhance diagnostics, and optimize treatment pathways.
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Computer Vision in Healthcare Market Dynamics:
Drivers:
The healthcare sector is experiencing a growing need for computer vision systemsRestraints:
The resistance of medical practitioners towards adopting AI-based technologiesOpportunities:
Computer vision solutions for healthcare that are hosted in the cloudChallenge:
Lack of curated dataKey Market Players of Computer Vision in Healthcare Industry:
The key players functioning in the computer vision in healthcare market include NVIDIA Corporation (US), Intel Corporation (US), Microsoft Corporation (US), Advanced Micro Devices, Inc. (US), Google, Inc. (US), Basler AG (Germany), AiCure (US), iCAD, Inc. (US), Thermo Fisher Scientific Inc. (US), SenseTime (China), KEYENCE CORPORATION (Japan), Assert AI (India), Artisight (US), LookDeep Inc. (US), care.ai (US), CareView Communications (US), VirtuSense (US), Teton (Denmark), viso.ai (Switzerland), NANO-X IMAGING LTD. (Israel), Comofi Medtech Pvt. Ltd. (India), Avidtechvision (India), Roboflow, Inc. (US), Optotune (US) and CureMetrix, Inc. (US).
The break-down of primary participants is as mentioned below:
By Company Type – Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%By Designation – C-level: 42%, Director-level: 31%, and Others: 27%By Region – North America: 32%, Europe: 32%, Asia Pacific: 26%, Middle East & Africa: 5%, Latin America: 5%Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=231790940
Recent Developments of Computer Vision in Healthcare Industry:
In April 2024, iCAD partnered with RAD-AID to enhance breast cancer detection utilizing the AI technology in underserved regions and low- and middle-income countries (LMICs).In March 2024, Microsoft and NVIDIA have broadened their longstanding collaboration with robust new integrations that harness cutting-edge NVIDIA generative AI and Omniverse technologies across Microsoft Azure, Azure AI services, Microsoft Fabric, and Microsoft 365.In February 2022, Advanced Micro Devices acquired Xilinx. This acquisition established the forefront leader in high-performance and adaptive computing, with a significantly expanded scale and the most formidable portfolio of leadership computing, graphics, and adaptive SoC products in the industry.Computer Vision in Healthcare Market – Key Benefits of Buying the Report:
This report will enrich established firms and new entrants/smaller firms to gauge the market’s pulse, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.
This report provides insights on:
Analysis of key drivers: (Increasing demand for computer vision systems in the healthcare industry, government initiatives to increase the adoption of AI-based technologies), restraints (Reluctance of medical practitioners to adopt AI-based technologies), opportunities (Cloud-based healthcare computer vision solutions), and challenges (Rising security concerns related to cloud-based image processing and analytics) influencing the growth of the computer vision in healthcare market.Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the computer vision in healthcare market.Market Development: Comprehensive information on the lucrative emerging markets, products & services, applications, end-users, and regions.Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the computer vision in healthcare market.Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the computer vision in healthcare market like NVIDIA Corporation (US), Intel Corporation (US), Microsoft Corporation (US), Advanced Micro Devices, Inc. (US), Google, Inc. (US).Related Reports:
Medical Robots Market – Global Forecasts to 2029
Minimally Invasive Surgery Market – Global Forecasts to 2029
Spinal Implants Market – Global Forecasts to 2028
Medical Waste Management Market – Global Forecasts to 2028
Operating Room Integration Market – Global Forecasts to 2028
Get access to the latest updates on Computer Vision in Healthcare Companies and Computer Vision in Healthcare Market Size
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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View original content:https://www.prnewswire.co.uk/news-releases/computer-vision-in-healthcare-market-worth-11-5-billion–marketsandmarkets-302135478.html
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