Ready for the intelligent video era

For the first time ever, we formally presented the market with our refined product portfolio, spanning video management software, video analytics and cloud-based solutions. We introduced a collaboration with one of the world’s biggest and most talked about tech companies. We also acquired AI-powered privacy protection capabilities.

These initiatives will continue to develop throughout 2026 and beyond, as Milestone remains committed to providing video solutions that deliver value to our partners and customers — enhancing security, improving operational efficiency and supporting a range of other needs.

Milestone’s financial performance in 2025 was satisfactory. We recorded a net revenue of DKK 2.2 billion, up 10% on last year from DKK 2 billion in 2024. Our earnings before interest and taxation (EBIT) declined by 3% to DKK 104 million in 2025.

Last year, we remained dedicated to developing innovative technologies. We increased our cost for research and development with 27%, which resulted in a slight decrease in our EBIT margin, which was anticipated. We operate in a consolidating and competitive video surveillance software market, with growing demand for cloud-based and AI solutions, as well as video analytics. Here is how Milestone responded to these trends in 2025.

In 2025, Milestone officially presented our expanded product portfolio to the market, reflecting the more complete offering we now provide customers through our valued channel partners.

Alongside the award-winning XProtect video management software, Milestone’s product portfolio consists of BriefCam advanced video analytics platform and Arcules cloud-based video surveillance as a service. Milestone customers can benefit from these complementary products. Such a high degree of flexibility reflects the open platform approach that has guided Milestone since our founding.

Our core product, XProtect, was updated several times throughout the year, with upgrades to plug-ins, extensions, remote management systems, video search capabilities and much more.

In December, we launched a vision language model-run Video Summarization tool for XProtect. Powered by NVIDIA Cosmos Reason, the tool uses AI to quickly review and explain video footage, helping teams respond faster, manage video more easily, and reduce unnecessary alerts for operators.

Milestone’s vision language model (VLM) also powers a VLM as a Service for third-party integrations, which helps developers create AI-powered solutions quickly without needing to set up, fine tune or manage their own AI systems.

These developments stem from Project Hafnia — a collaboration between Milestone and NVIDIA — which aims to address a significant challenge for AI developers across the globe: the ability to find sufficient high-quality, accurate and reliable video data to train visual AI models. We are pleased to have pilot customer cases in the cities of Dubuque in the United States and Genoa, Italy.

Hafnia received significant interest in 2025, including from the Danish Chamber of Commerce — which awarded Milestone a major prize — as well as from developers who travelled from around the world to participate in a Hafnia-themed hackathon in Copenhagen. We expect the interest to continue in 2026.

In April, Milestone acquired brighter AI, a Germany-based company that provides image and video anonymization software. Brighter AI’s software can hide people’s faces and number plates in photos and videos. It can replace faces with artificial ones and blur whole bodies to protect people’s privacy.

we are excited to build upon our strong people-first foundations

The addition of brighter AI to Milestone strengthens our ability to offer advanced tools that provide valuable data-based insights while protecting people’s privacy.

Following the acquisition, brighter AI’s team of 24 people continues to operate as a stand-alone business unit based in Germany. However, the brighter AI team is very much a part of the broader Milestone team — we are delighted to have them on board.

Looking ahead, Milestone will continue to innovate throughout 2026 — both in terms of our products and in the ways in which we create value for our customers and partners.

We expect 2026 to be an important year for Milestone’s people and culture with several initiatives in the works, such as an ongoing Culture Revitalization project that was initiated following the acquisitions.

We firmly believe that Milestone’s ability to attract and retain exceptional people is essential to achieving our ambition.

With our employee net promoter score nudging upwards in 2025 (from a score of 32 to 33), and remaining above the industry benchmark, we are excited to build upon our strong people-first foundations.