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Milestone Systems achieves record net revenue

Milestone Systems delivered double-digit growth in 2022, according to the company’s newly released annual report.

The Copenhagen-based company says it recorded an all-time high annual net revenue of 1.5 billion Danish kroner (DKK), a 30 per cent increase compared to 2021. Milestone reported a pre-tax profit of 11 million DKK in 2022. The company also says it aims to more than double its 2021 revenue by 2026 as part of an ambitious growth strategy.

“It took 21 years to reach the first billion kroner in net revenue, but over just the last three years, we added half a billion kroner to our net turnover. That is a testament to the hard work, engagement, and innovation of our people,” said Thomas Jensen, CEO of Milestone, in a statement.

“As we enter our 25th anniversary year, we are in a strong position to follow our strategic direction to transform our industry by setting the standard for video technology in and beyond security, such as video-enabled solutions for hospitals. We also see many opportunities with the growth of artificial intelligence, which we believe will greatly expand the possibilities of data-driven video technology,” added Jensen.

Last year, Milestone added almost 200 people to its global team, based across 25 locations. In 2022, the company committed to the United Nations’ Guiding Principles on Business and Human Rights and also introduced a new cloud solution, Milestone Kite powered by Arcules.

The company announced that it will explore new opportunities for its XProtect VMS both in and beyond the traditional security market. The software has been deployed in more than 500,000 installations worldwide and is used by a variety of end users, from airports to hospitals to tourist attractions.