Milestone Systems Revenue Rockets 30 Per Cent.
Milestone Systems Revenue Rockets – Milestone Systems revenue for 2022 has leapt 30 per cent as the company pushes to double revenue by 2026.
Milestone recorded an all-time high annual net revenue of 1.5 billion Danish kroner (around $US220 million, a 30 per cent increase compared to 2021, with a pre-tax profit of 11 million DKK. The company also added 200 new staff globally.
“It took 21 years to reach the first billion kroner in net revenue, but over just the last 3 years, we added half a billion kroner to our net turnover – a testament to the hard work, engagement, and innovation of our people,” said Thomas Jensen, chief executive of Milestone Systems.
“2022 was a challenging year during which both Milestone and its customers had to learn to live with Covid-19 and manoeuvre the supply-chain challenges and component shortages brought on by the aftermath of the pandemic.
“The outbreak of war on European soil continued to have tragic consequences for the people involved – along with other companies, we exited Russia because of the invasion of Ukraine,” Jensen said.
“Despite inflation and energy price hikes last year, we grew our business by 30 per cent. Through the strength of our network of technology partners, distributors, and resellers, we navigated a year which was almost a perfect storm.”
Jensen said that as Milestone Systems entered its 25th anniversary year, the company is in a strong position to follow its strategic direction to transform the surveillance industry by setting the standard for video technology in and beyond security, such as video-enabled solutions for hospitals.
“We also see many opportunities with the growth of artificial intelligence, which we believe will greatly expand the possibilities of data-driven video technology,” Jensen said.
Highlights from the year included the announcement of a new cloud solution, Milestone Kite powered by Arcules. Kite, which is available now from local distributors, is a simple, secure, and scalable video security as a service (VSaaS) solution. The cloud-based solution is primarily designed for small- to medium-sized businesses and larger organizations with multiple satellite and remote locations.
The company also announced that it will explore new opportunities for XProtect both in and beyond the traditional security market. The software has been deployed in more than 500,000 installations worldwide and is used by a variety of end users, from airports to hospitals to tourist attractions.
Last year, the company committed to the United Nations’ Guiding Principles on Business and Human Rights. Milestone will introduce further initiatives addressing how it develops technology and how its products are sold and used.
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“Milestone Systems Revenue Rockets 30 Per Cent.”