For Milestone Systems, long-term sustainable growth has resulted in another record year for the company. With an annual growth rate of 14 percent over the last five years, Milestone’s net revenue increased to DKK 1.03 billion in 2019. The positive revenue development primarily derived from an increase in video management software licenses and Care™ support sales. Moreover, Milestone continued to increase sales in all its global markets.
“Two major factors impact our positive result: Our continued focus on long-term sustainable growth, which has resulted in profitability every year since our company was established 22 years ago. And perhaps more importantly, our people. Long-term sustainable growth requires the best people, who can identify the right opportunities. If you don’t have the right people, even the strongest business strategy may fail,” says Interim CEO Lars Larsen, Milestone Systems.
In the past five years, Milestone has nearly doubled the number of employees to more than 900. Last year increased investments have been made in research and development capacity, expanded engineering teams in Copenhagen and Sofia, and the establishment of a new engineering hub in Barcelona.
Milestone Flexibility to Make the Right Choice
Milestone Systems continues to deliver flexibility to its community of partners and customers, enabling them to respond quickly to new, disruptive technologies. The open technology platform allows partners to integrate their solutions with our software, and Milestone Marketplace provides an open business platform, enabling them to grow their business faster.
“With these two platforms, we continue to bring the ‘Power of Open’ to our community. To drive this forward we funded a program called Accelerate Innovation, with significant investments in our engineering teams. In 2019, we continued these investments, and as we have entered 2020 we are already starting to see results,” continued Lars Larsen.
Revenue growth will be driven by a continued expansion of Milestone’s portfolio of innovative products, including Video Management Software and Network Video Recorders, as well as collaborations with its international business ecosystem of channel partners, camera vendors, technology and solution partners.