Milestone Systems delivers four years of record-high net revenue

Milestone Systems, a leading video technology provider, delivered a record-high net revenue of 1.69 billion DKK (close to 929.5 million AED) in 2023, according to the Danish company’s newly released Annual Report.

The Copenhagen-headquartered company celebrated 25 years in business in February 2023. During the anniversary year, Milestone made significant strides in delivering its growth strategy, particularly in key industries such as healthcare and hospitality.

Thomas Jensen, CEO of Milestone Systems, said: “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.”

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.

Thomas Jensen said: “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.”

Growth plans

Reflecting on Milestone’s growth ambitions, Lars Larsen, CFO of Milestone Systems, said: “Looking ahead, we anticipate an eventful and promising 2024. We will continue our growth journey regarding 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 simultaneously and respond to incidents quickly. The company also introduced an updated approach for the casino industry, one of the most strictly regulated industries in the world, to ensure gaming compliance and help businesses deliver exceptional guest experiences.

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