Milestone Systems’ data-driven video technology took another leap in 2024: Financially, by outpacing the market with an 18.7 percent growth in net revenue, reaching the DKK 2 billion mark (approx. $290 million), and technologically, with the strategic acquisition of BriefCam analytics and Arcules cloud. Milestone is now ready to expand and push technology boundaries.
“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 (approx. $246.6 million) in 2023, reflecting a robust 18.7% increase. This is a doubling of the revenue from 2020. Earnings (EBIT) reached DKK 106,8 million (approx. $15.5 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 (approx. $69.3 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 at Milestone.
“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.
