Annual report 2024: Milestone reaches DKK 2 billion mark in net revenue
Milestone Systems’ data driven video technology took another leap in 2024: Financially, by outpacing the market with 18,8 percent growth in net revenue, reaching the DKK 2 billion mark – and technologically, with the strategic acquisition of BriefCam analytics and Arcules Cloud. Milestone is now ready to expand and push technology boundaries.
2024 saw remarkable transformation and success for Milestone. Breaking new ground through the strategic acquisitions of BriefCam analytics and Arcules cloud, we developed our product offerings and strengthened our partnerships.
“Milestone has delivered exceptional results in 2024, marked by significant growth in both revenue and earnings,” says Lars Larsen, Chief Financial Officer in Milestone.
Net revenue rose to DKK 2 billion from DKK 1.7 billion in 2023, reflecting a 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,” says Lars Larsen.
Strengthening innovation and resilience
The year of 2024 was also marked by global challenges and increased pressure on democratic values – impacting people, societies, and businesses.
“Milestone and our 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 positioned well to be the frontrunner of the technology-enabled era that awaits,” says Lars Larsen.
23 percent of Milestones revenue was spent on research and development – in total DKK 478 million – reflecting the commitment to innovation. This is an increase of 34 percent compared to 2023.
Exciting outlook for 2025
Building on the transformative achievements in 2024 with the strategic acquisitions of BriefCam video analytics and Arcules Cloud, focus in 2025 will be to amplify Milestones 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 AI,” says Thomas Jensen, Chief Executive Officer in Milestone.
Just last week, on March 18, Milestone could announce a new landmark in the responsible technology strategy with the launch of Project HAFNIA.
“We are very proud of project HAFNIA, where NVIDIA and Milestone Systems are bringing our combined technological skills into creating a privacy-compliant data platform that helps cities, organizations, companies and public institutions to utilize and share video data. With ethically sourced data, we can now also build the world’s first anonymized and annotated visual data library platform for training future AI-models” says Thomas Jensen.
MILESTONE FACTS
- Milestone Systems is a world leading provider of data-driven video technology making cities and businesses safer, more secure and prosperous.
- Our technology is used across many industries and sectors, from e.g. airports and law enforcement to retail, manufacturing, education, traffic- and smart city management.
- Milestones XProtect video management software is open platform, meaning we work with technology partners to enable integration with the industry’s widest choice of cameras, devices and software.
- Milestones AI-driven BriefCam analytics and Arcules Cloud give customers an even wider range of flexibility – turning video into actionable data and simplifying installation and extensions.
- Milestone was founded in Denmark in 1998, headquartered in Copenhagen, and since 2014 a fully independent company under the Japanese-based Canon Group.
- 1,500 employees with +70 nationalities in 25 locations worldwide.
- Milestone is market leader in Europe and second worldwide and in USA.
