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

  • Cyber Overconfidence Is Leaving Your Organization Vulnerable

    The increased sophistication of cyber threats pumped by the relentless use of AI and machine learning brings forth record-breaking statistics. Cyberattacks grew 44% YoY in 2024, with a weekly average of 1,673 cyberattacks per organization. While organizations up their security game to help thwart these attacks, a critical question remains: Can employees identify a threat when they come across one? A Confidence Gap survey reveals that 86% of employees feel confident in their ability to identify phishing attempts. But things are not as rosy as they appear; the more significant part of the report finds this confidence misplaced. Read Now

  • Mission 500 Debuts Refreshed Identity Ahead of Security 5K/2K at ISC West

    Mission 500, the security industry’s nonprofit charity dedicated to supporting children in need across the US, Canada, and Puerto Rico, has unveiled a refreshed brand identity ahead of ISC West. The charity’s new look includes a modernized logo with refined messaging to reinforce Mission 500’s nearly decade-long commitment to serving the needs of children and families in crisis. Read Now

    • Industry Events

  • Meeting Modern Demands

    Door hardware and access control continue to be at the forefront of innovation within the security industry, continuously evolving to meet the dynamic needs of commercial spaces. Read Now

  • Leveraging IoT and Open Platform VMS for a Connected Future

    The evolution of urban environments is being reshaped by the convergence of Internet of Things (IoT) technology and open platform VMS. As cities worldwide grapple with growing populations and increasing operational complexities, these integrated technologies are emerging as powerful tools for creating more livable, efficient, and secure urban spaces. Read Now

Most   Popular

New Products

  • Luma x20

    Luma x20

    Snap One has announced its popular Luma x20 family of surveillance products now offers even greater security and privacy for home and business owners across the globe by giving them full control over integrators’ system access to view live and recorded video. According to Snap One Product Manager Derek Webb, the new “customer handoff” feature provides enhanced user control after initial installation, allowing the owners to have total privacy while also making it easy to reinstate integrator access when maintenance or assistance is required. This new feature is now available to all Luma x20 users globally. “The Luma x20 family of surveillance solutions provides excellent image and audio capture, and with the new customer handoff feature, it now offers absolute privacy for camera feeds and recordings,” Webb said. “With notifications and integrator access controlled through the powerful OvrC remote system management platform, it’s easy for integrators to give their clients full control of their footage and then to get temporary access from the client for any troubleshooting needs.”

  • 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.

  • Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

    Connect ONE®

    Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.