Milestone Systems Delivers Four Years of Record-High Net Revenue

  • Apr 02, 2024

Milestone Systems, a provider of video technology, delivered record-high net revenue of 1.69 billion DKK (approx. $244.9 million) in 2023, according to the newly released Annual Report. The Copenhagen-headquartered company celebrated 25 years in business in February 2023. During its anniversary year, Milestone made significant strides in delivering on its growth strategy, particularly in key industries such as healthcare and hospitality.

“As we reflect on Milestone's remarkable journey of 25 years, we not only celebrate our past achievements but also look forward to what lies ahead. The advancement of artificial intelligence and video analytics opens up endless possibilities for data-driven video technology. We already see how our strategic focus on key sectors such as healthcare and hospitality can make meaningful contributions to people, businesses, and societies around the world. We are proud of Milestone's achievements to-date, but we are even more excited about the future,” said Thomas Jensen, CEO, Milestone Systems.

Milestone has long advocated that technology should be developed, sold, and used responsibly. In 2023, the company established a formal program on Responsible Technology. These principles will guide the development of Milestone’s products and services and interactions throughout the value chain.

Jensen added: “I truly believe that technology should serve humanity not the other way around. Responsible Technology is not just a buzzword at Milestone – it is a crucial aspect of our commitment to serving our customers and societies at large. We are dedicated to ensuring that our software is not only innovative but also ethical.”

Reflecting on Milestone’s growth ambitions, Lars Larsen, CFO, Milestone Systems, said: “Looking ahead, we anticipate an eventful and promising 2024. We will continue our growth journey, in terms of revenue, investments, and profitability. We expect the coming financial year will bring many opportunities, particularly within the cloud and video analytics spaces.”

Highlights from the year included the launch of XProtect Hospital Assist, a video solution that allows medical staff to remotely observe multiple patients at once and respond to incidents quickly. The company also introduced an updated approach for the casinos industry, one of the most strictly regulated industries in the world, to ensure gaming compliance and to help businesses deliver exceptional guest experiences.

By year-end, Milestone added Camera to Cloud capabilities to the cloud-based offering Milestone Kite, a simple, secure, and scalable Video Surveillance as a Service (VSaaS). The addition of Camera to Cloud means computing, recording and video storage can take place on cameras.

Featured

  • First, Do No Harm: Responsibly Applying Artificial Intelligence

    It was 2022 when early LLMs (Large Language Models) brought the term “AI” into mainstream public consciousness and since then, we’ve seen security corporations and integrators attempt to develop their solutions and sales pitches around the biggest tech boom of the 21st century. However, not all “artificial intelligence” is equally suitable for security applications, and it’s essential for end users to remain vigilant in understanding how their solutions are utilizing AI. Read Now

  • Improve Incident Response With Intelligent Cloud Video Surveillance

    Video surveillance is a vital part of business security, helping institutions protect against everyday threats for increased employee, customer, and student safety. However, many outdated surveillance solutions lack the ability to offer immediate insights into critical incidents. This slows down investigations and limits how effectively teams can respond to situations, creating greater risks for the organization. Read Now

  • Security Today Announces 2025 CyberSecured Award Winners

    Security Today is pleased to announce the 2025 CyberSecured Awards winners. Sixteen companies are being recognized this year for their network products and other cybersecurity initiatives that secure our world today. Read Now

  • Empowering and Securing a Mobile Workforce

    What happens when technology lets you work anywhere – but exposes you to security threats everywhere? This is the reality of modern work. No longer tethered to desks, work happens everywhere – in the office, from home, on the road, and in countless locations in between. Read Now

  • TSA Introduces New $45 Fee Option for Travelers Without REAL ID Starting February 1

    The Transportation Security Administration (TSA) announced today that it will refer all passengers who do not present an acceptable form of ID and still want to fly an option to pay a $45 fee to use a modernized alternative identity verification system, TSA Confirm.ID, to establish identity at security checkpoints beginning on February 1, 2026. Read Now

Most   Popular

New Products

  • Camden CM-221 Series Switches

    Camden CM-221 Series Switches

    Camden Door Controls is pleased to announce that, in response to soaring customer demand, it has expanded its range of ValueWave™ no-touch switches to include a narrow (slimline) version with manual override. This override button is designed to provide additional assurance that the request to exit switch will open a door, even if the no-touch sensor fails to operate. This new slimline switch also features a heavy gauge stainless steel faceplate, a red/green illuminated light ring, and is IP65 rated, making it ideal for indoor or outdoor use as part of an automatic door or access control system. ValueWave™ no-touch switches are designed for easy installation and trouble-free service in high traffic applications. In addition to this narrow version, the CM-221 & CM-222 Series switches are available in a range of other models with single and double gang heavy-gauge stainless steel faceplates and include illuminated light rings.

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis.

  • A8V MIND

    A8V MIND

    Hexagon’s Geosystems presents a portable version of its Accur8vision detection system. A rugged all-in-one solution, the A8V MIND (Mobile Intrusion Detection) is designed to provide flexible protection of critical outdoor infrastructure and objects. Hexagon’s Accur8vision is a volumetric detection system that employs LiDAR technology to safeguard entire areas. Whenever it detects movement in a specified zone, it automatically differentiates a threat from a nonthreat, and immediately notifies security staff if necessary. Person detection is carried out within a radius of 80 meters from this device. Connected remotely via a portable computer device, it enables remote surveillance and does not depend on security staff patrolling the area.