International. Milestone Systems' data-driven video technology took a huge leap forward in 2024. On the economic front, it recorded an 18.7% growth in its net income, exceeding the market average and reaching DKK 2 billion (approximately USD 290 million).
According to the company, it ventured into new territories with the strategic acquisitions of BriefCam, specialized in video analytics, and Arcules, oriented to cloud solutions, which allowed them to expand and improve their product catalog, as well as strengthen their alliances with key players in the sector.
"Milestone delivered extraordinary results in 2024, marked by remarkable growth in both revenue and earnings," said Lars Larsen, Milestone's Chief Financial Officer.
Net income increased from DKK 1.7 billion in 2023 (around USD 247 million) to DKK 2 billion in 2024 (around USD 290 million), representing a solid increase of 18.7%. With this 2024 result, the company doubled the revenues obtained in 2020. On the other hand, earnings before interest and taxes (EBIT) amounted to DKK 106.8 million (approximately USD 15.5 million).
"We consider this result very satisfactory, as it reflects the resilience and solidity of our business," says Lars Larsen.
Strengthening innovation
2024 was also characterized by major challenges globally and increased pressure on democratic principles, with impacts on communities and corporations.
"Both Milestone and our colleagues and partners have demonstrated tremendous resilience and achieved impressive results in a time of profound change in the world. By focusing our efforts on strengthening our capacity for innovation, we are now in a unique position to stay ahead of the new technological era that awaits us," says Lars Larsen.
Milestone spent 23% of its revenue on research and development, totalling DKK 478 million (around USD 69 million). This figure – 34% more than in 2023 – is a reflection of the company's strong commitment to innovation.
Outlook for 2025
Building on the transformative achievements of 2024, thanks to the strategic acquisitions of BriefCam, with its video analytics solutions, and Arcules, with its cloud capabilities, Milestone plans to focus in 2025 on further expanding its investments in technology, human talent, and expertise.
"Our priorities are clear: to fully integrate BriefCam and Arcules into our operations and organizational culture, to expand our market presence with a robust product offering, and to continue to drive innovation responsibly in the field of video technology and AI," explains Thomas Jensen, CEO of Milestone.
