MUMBAI: Milestone Systems is making waves, and it’s not just because of its video tech, it’s also because of the numbers that are stacking up! The company, known for turning video footage into powerful data, has just delivered a standout 2024, outpacing the market with an impressive 18.7 per cent growth in net revenue, which hit a cool DKK 2 billion.
If that sounds impressive it's because it is, Milestone has doubled its revenue since 2020. And the growth doesn’t stop there. Earnings (EBIT) for 2024 reached DKK 106.8 million, confirming that Milestone is more than just a tech player, it’s a tech titan on the rise.
Milestone chief financial officer Lars Larsen was understandably pleased. "This is a very satisfying result, underscoring the resilience and strength of our business," he said, no doubt relishing the company’s ability to thrive despite global turbulence.
But Milestone didn’t just grow financially 2024 was also a year of major technological expansion. By acquiring Briefcam, a leader in video analytics, and Arcules, a cloud-based platform, the company strengthened its product offerings, preparing for the next frontier in video technology. These acquisitions are expected to bring even more flexibility and power to Milestone's solutions, allowing customers to turn video into actionable insights like never before.
The company’s commitment to innovation didn’t stop there. A massive 23 per cent of Milestone’s revenue, DKK 478 million, was poured into research and development, an increase of 34 per cent compared to 2023. This is no mere token effort; it’s a clear signal that Milestone is doubling down on its technological edge.
Looking ahead to 2025, Milestone has big plans to expand even further. "Our priorities are clear," says Milestone Systems CEO Thomas Jensen. "We’ll integrate Briefcam and Arcules seamlessly, expand our market presence, and continue to lead the charge in responsible innovation."
One of the key milestones in this journey? Project HAFNIA. Launched just last month, it’s a collaboration with Nvidia to create a privacy-compliant data platform. This new platform will provide access to data and help train AI models, all while ensuring that the data is ethically sourced and anonymised. The ultimate aim? To build the world’s first anonymised and annotated visual data library platform, creating a future-proof solution for AI training.
