Leading provider of video technology, Milestone Systems registered a record-high net revenue of 1.69 billion DKK (€226 million) in 2023, according to the Danish company’s newly released Annual Report.
Headquartered in Copenhagen, the company celebrated its 25th year as a business in February last year for hitting a milestone of significant strides in delivering its growth strategy, particularly in key industries such as healthcare and hospitality.
Thomas Jensen, CEO, Milestone Systems, said: “As we reflect on Milestone's remarkable journey of 25 years, we not only celebrate our past achievements but also look forward to what lies ahead. The advancement of artificial intelligence and video analytics opens up endless possibilities for data-driven video technology”.
“We already see how our strategic focus on key sectors such as healthcare and hospitality can make meaningful contributions to people, businesses, and societies around the world”, added Jensen.
For long, Milestone has been advocating on upholding responsibility in the development, selling and usage of technology.
Thomas Jensen said, "I truly believe that technology should serve humanity not the other way around".
Last year, it launched a formal program on Responsible Technology putting forth principles to guide its product development, services and interactions across the value chain.
“Responsible Technology is not just a buzzword at Milestone – it is a crucial aspect of our commitment to serving our customers and societies at large. We are dedicated to ensuring that our software is not only innovative but also ethical”, stated Jensen.
Reflecting on Milestone’s growth ambitions, Lars Larsen, CFO, Milestone Systems, said: “Looking ahead, we anticipate an eventful and promising 2024. We will continue our growth journey, in terms of revenue, investments, and profitability. We expect the coming financial year will bring many opportunities, particularly within the cloud and video analytics spaces.”
Other highlights include the launch of a video solution that allows medical staff to observe patients remotely at once and respond to incidents faster through XProtect Hospital Assist.
For the casino industry, the company launched an updated approach that ensures gaming compliance while helping business deliver exceptional guest experiences.
Furthermore, Milestone added Camera to Cloud capabilities to the cloud-based offering Milestone Kite, a simple, secure, and scalable Video Surveillance as a Service (VSaaS).