MIPS 2021 Guides Integration Partners Into ‘Shaping the New Next’

Tim Palmquist, vice president, Americas, provided details of the pandemic’s impact on the region as well as to the company, including its bottom line.

In the United States, he said, the company received a $1 million PPP loan in 2020, which was “put it in the bank just in case, since we didn’t know how the year was going to unfold.”

Like so many businesses — large and small — Milestone was forced to adjust organizationally in considerable ways, including adopting work-from-home strategies.

“Throughout 2020 we managed the disruption that came our way, and along with you, we were able to generate a pretty good amount of revenue through the year,” he said. “In fact, some of our largest wins ever in the region actually came through in 2020. It wasn’t the type of year that we had budgeted for or expected, but it was better.”

Milestone posted positive year-over-year growth in the Americas region, and in the U.S. the company experienced double digit YoY growth, he said. “Of course, not all parts of the region came through in flying colors. There were low lights mixed in there. But … we managed significant cost-savings throughout the year and we built a profitable business.”

The positive results allowed the company to repay the PPP loan in December, “recognizing we didn’t need those resources to fortify our business,” Palmquist said.

He continued, “Embracing the endless possibilities both in security and beyond security, one thing we really noticed in 2020 is the unique applications of video and innovation from our community to address the unique nuances that developed in the marketplace. And so the opportunities beyond security look really interesting and we will lean into that in 2021.”