Milestone Systems, the open platform company in IP video management software (VMS), once again delivers strong results as indicated by the 2015 financial report. A solid growth rate of 32 percent over 2014 was achieved.
Milestone Systems reports 2015 revenue of US$91.1 million. This is a 32 percent increase over 2014 which recorded revenue at $69.3 million. Operating income before depreciation and amortization (EBITDA) resulted in $18.4 million and net income reached $8.8 million. The number of full-time employees grew by 17 percent, from an average of 404 employees in 2014 to 472 in 2015.
Reasons for the steady growth and high profitability point to the well-functioning open platform technology, robust partner success and a strong business model. The standalone Canon relationship model is also an illustration of solid backing and trust, which reinforces positive support of Milestone and appreciation by the partners.
"Milestone has been the global market leader in VMS for more than a decade, which shows that our open platform strategy is steadily growing stronger," states Lars Thinggaard, President and CEO, Milestone Systems. "We aim to continue this success with our enthusiastic community of partners and employees."
Expectations for the future
Milestone's outlook is solid with a purposeful focus on community collaboration which is expected to bring Milestone and its partners to the next level of developments. Industry analysts forecast continued growth in the video surveillance market, and Milestone will expand its portfolio of innovative products together with the community of channel partners, camera vendors, technology providers, solution partners and customers.