Milestone Systems reaches DKK 2 billion mark in net revenue

Technologically, with the strategic acquisition of BriefCam analytics and Arcules cloud, Milestone Systems is now ready to expand and push the technology boundaries.

2024 witnessed remarkable transformation and success for Milestone. Breaking new ground through the strategic acquisitions of the aforementioned BriefCam analytics and Arcules cloud, the business developed its product offerings and strengthened operating partnerships.

“Milestone has delivered exceptional results in 2024, marked by significant growth in both revenue and earnings,” enthused Lars Larsen, chief financial officer at the company.

As stated, net revenue rose to DKK 2 billion from DKK 1.7 billion in 2023, reflecting that robust 18.7% increase. This is a doubling of the revenue from 2020. Earnings (EBIT) reached DKK 106,8 million.

“We consider this to be a very satisfying result, underscoring the resilience and strength of our business,” continued Larsen.

Strengthening innovation and resilience

Last year, of course, was also marked by global challenges and increased pressure on democratic values, duly impacting people, societies and businesses.

Larsen added: “Milestone and its colleagues and partners have shown great resilience and achieved impressive outcomes in a time of significant change around the world. Focusing on strengthening our innovation means that, today, we are now well positioned to be the frontrunner of the technology-enabled era that awaits.”

No less than 23% of Milestone’s revenue was spent on R&D – in total DKK 478 million – reflecting the organisation’s commitment to innovation. This is an increase of 34% when compared to 2023.

Exciting outlook for 2025 

The focus in 2025 will be to amplify Milestone’s investments in technology, talent and expertise even further.

“Our priorities are clear: integrate BriefCam and Arcules seamlessly into our operations and culture, expand our market presence with a strong product offering and continue pushing the boundaries of responsible innovation in video technology and Artificial Intelligence (AI),” explained Thomas Jensen, CEO at Milestone.

On 18 March, Milestone launched Project HAFNIA. “We are very proud of project HAFNIA,” observed Jensen, “wherein NVIDIA and Milestone Systems are bringing our combined technological skills together and creating a privacy-compliant data platform that helps cities, organisations, companies and public institutions to use and share video data. With ethically sourced data, we can now also build the world’s first anonymised and annotated visual data library platform for training future AI-models.

*Further information is available online at www.milestonesys.com