Check Point Software Technologies Ltd. Q3 2026 Earnings Recap

Check Point shares fell 6.5% after the company said the product-revenue recovery is taking longer than previously anticipated and characterized its fourth-quarter outlook as a measured recovery. Q3 revenue was down 1% year over year, mainly due to lower firewall-appliance refresh activity.

Key Takeaways

• Q3 revenue was $670 million, down 1% year over year and at the midpoint of guidance.
• Subscription revenue grew 11% year over year to $339 million; email security ARR surpassed $200 million.
• Non-GAAP EPS was $2.49 per diluted share, and adjusted free cash flow was $258 million—each slightly above the midpoint of projections.
• Lower firewall-appliance refresh activity reduced product revenue and also weighed on software updates and maintenance revenue.
• Management expects sequential revenue improvement starting in Q4, but said the pace of recovery is more gradual than previously anticipated.