Milestone Systems records $101m revenue in 2016
The Denmark-headquartered video management software firm's invoiced revenues for the year amount to $115m
Milestone Systems, an open platform networked video management software (VMS) company, recorded an 18% hike in annual revenues for 2016.
The Denmark-headquartered firm has regional offices in the UAE, Saudi Arabia, and Lebanon.
Invoiced revenues worth $115.2m (EUR108m) were recorded by the company in 2016, with net revenues amounting to $101.3m (EUR95m).
The latter is 18% higher than 2015's $86.3m (EUR80.9m).
Milestone's clientele in 2016 included Hyatt Hotels and Stockholm Metro.
Remarking on the financial performance, company president and CEO Lars Thinggaard, said: "The reasons for our growth stem from our strong community of partners and customers, open platform technology, and investments in innovation and new technologies.
"We aim to continue this co-creation approach with our community and will keep investing in innovation in the years to come."