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

  • Achieving Clear Audio

    In today’s ever-changing world of security and risk management, effective communication via an intercom and door entry communication system is a critical communication tool to keep a facility’s staff, visitors and vendors safe. Read Now

  • Beyond Apps: Access Control for Today’s Residents

    The modern resident lives in an app-saturated world. From banking to grocery delivery, fitness tracking to ridesharing, nearly every service demands another download. But when it comes to accessing the place you live, most people do not want to clutter their phone with yet another app, especially if its only purpose is to open a door. Read Now

  • Survey: 48 Percent of Worshippers Feel Less Safe Attending In-Person Services

    Almost half (48%) of those who attend religious services say they feel less safe attending in-person due to rising acts of violence at places of worship. In fact, 39% report these safety concerns have led them to change how often they attend in-person services, according to new research from Verkada conducted online by The Harris Poll among 1,123 U.S. adults who attend a religious service or event at least once a month. Read Now

  • AI Used as Part of Sophisticated Espionage Campaign

    A cybersecurity inflection point has been reached in which AI models has become genuinely useful in cybersecurity operation. But to no surprise, they can used for both good works and ill will. Systemic evaluations show cyber capabilities double in six months, and they have been tracking real-world cyberattacks showing how malicious actors were using AI capabilities. These capabilities were predicted and are expected to evolve, but what stood out for researchers was how quickly they have done so, at scale. Read Now

  • Why the Future of Video Security Is Happening Outside the Cloud

    For years, the cloud has captivated the physical security industry. And for good reasons. Remote access, elastic scalability and simplified maintenance reshaped how we think about deploying and managing systems. Read Now

Most   Popular

New Products

  • FEP GameChanger

    FEP GameChanger

    Paige Datacom Solutions Introduces Important and Innovative Cabling Products GameChanger Cable, a proven and patented solution that significantly exceeds the reach of traditional category cable will now have a FEP/FEP construction.

  • Camden CV-7600 High Security Card Readers

    Camden CV-7600 High Security Card Readers

    Camden Door Controls has relaunched its CV-7600 card readers in response to growing market demand for a more secure alternative to standard proximity credentials that can be easily cloned. CV-7600 readers support MIFARE DESFire EV1 & EV2 encryption technology credentials, making them virtually clone-proof and highly secure.

  • PE80 Series

    PE80 Series by SARGENT / ED4000/PED5000 Series by Corbin Russwin

    ASSA ABLOY, a global leader in access solutions, has announced the launch of two next generation exit devices from long-standing leaders in the premium exit device market: the PE80 Series by SARGENT and the PED4000/PED5000 Series by Corbin Russwin. These new exit devices boast industry-first features that are specifically designed to provide enhanced safety, security and convenience, setting new standards for exit solutions. The SARGENT PE80 and Corbin Russwin PED4000/PED5000 Series exit devices are engineered to meet the ever-evolving needs of modern buildings. Featuring the high strength, security and durability that ASSA ABLOY is known for, the new exit devices deliver several innovative, industry-first features in addition to elegant design finishes for every opening.