Revenue
641.26m€2.2× since 2015
3.6% of Montenegro's revenue
Technology
1,939 companies earned 641.26m€ in 2025, 3.6% of all company revenue in Montenegro. It ranks 8 of 18 sectors by revenue. Revenue has grown 2.2× since 2015.
Nationwide · 2025
Year
Overview
Companies
1,939+1,612 since 2015
1,369 with at most one employee
Employees
7,3762.0× since 2015
Largest employer: Mtel (559)
Profit margin
19.0%12.9 pts above average
Total profit: 121.61m€
This sector 19.0%Montenegro: 6.1%
Payroll cost/emp./mo*
1,876€51% above average
Average per employee, not per company
This sector 1,876€Montenegro: 1,242€
Revenue and companies since 2015
FinalPreliminary
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 291,103,596€ | 327 |
| 2016 | 294,357,002€ | 366 |
| 2017 | 318,377,841€ | 427 |
| 2018 | 330,327,585€ | 510 |
| 2019 | 327,716,410€ | 570 |
| 2020 | 317,986,899€ | 678 |
| 2021 | 344,010,078€ | 886 |
| 2022 | 461,575,305€ | 1,491 |
| 2023 | 543,598,360€ | 1,789 |
| 2024 | 573,609,156€ | 1,893 |
| 2025 (Preliminary) | 641,264,304€ | 1,939 |
The number of companies jumped most in 2022: from 886 to 1,491.
What changed in 2025
Growth is measured on the same companies, which filed for both years.
- Revenue, same companies (1,696)
- 571.05m€ → 636.67m€
- Employees, same companies
- 7,322 → 7,086
- Payroll cost per employee, same companies
- 1,887€ → 1,929€
- Filed for 2025, not for 2024
- 243 companies · 4.60m€
- Filed for 2024, not for 2025
- 197 companies, 2.56m€ in 2024
Activities in this sector
- Companies
- 13
- Employees
- 619
- Revenue
- 190,321,523€
19.2%
- Companies
- 902
- Employees
- 2,711
- Revenue
- 123,221,357€
17.6%
- Companies
- 15
- Employees
- 627
- Revenue
- 112,728,691€
15.9%
- Companies
- 53
- Employees
- 913
- Revenue
- 101,777,650€
7.1%
- Companies
- 347
- Employees
- 1,003
- Revenue
- 45,561,048€
- Companies
- 160
- Employees
- 374
- Revenue
- 27,364,566€
- Companies
- 229
- Employees
- 595
- Revenue
- 22,761,179€
6312
Web portals- Companies
- 107
- Employees
- 258
- Revenue
- 7,186,727€
- Companies
- 43
- Employees
- 121
- Revenue
- 3,481,416€
0.4%
- Companies
- 14
- Employees
- 50
- Revenue
- 2,847,913€
- Companies
- 20
- Employees
- 45
- Revenue
- 2,273,041€
0.3%
- Companies
- 33
- Employees
- 55
- Revenue
- 1,644,520€
- Companies
- 3
- Employees
- 5
- Revenue
- 94,673€
Total
- Companies
- 1,939
- Employees
- 7,376
- Revenue
- 641,264,304€
Where they are and who is growing
Revenue by municipality
Share of the sector's revenue
- Podgorica 574.48m€89.6%
- Tivat 19.16m€3.0%
- Budva 15.27m€2.4%
- Herceg Novi 8.40m€1.3%
- Bar 6.46m€1.0%
- Nikšić 3.37m€0.5%
- Berane 1.99m€0.3%
- Other municipalities (13) 10.40m€1.6%
Fastest growing
Revenue change vs 2024, companies with at least 1m€ that year
- Mtel103.77m€ → 183.44m€+76.8%
- Network Communication1.66m€ → 2.42m€+46.1%
- Ai1.08m€ → 1.52m€+40.7%
- Polako Development1.73m€ → 2.36m€+36.5%
- Axians - Crna Gora1.80m€ → 2.39m€+32.8%
Largest employers
Employees and payroll cost per employee per month*
- 5592,217€
- 4652,357€
- 3842,214€
- 2343,849€
- 1781,419€
All companies (1,939)
Ranked by total revenue · Showing 1–50 of 1,939
- 1Mtel02655284 · PodgoricaRevenue share28.6%
- Revenue
- 183,440,058€
- Revenue change 2024→2025
- +76.8%
- Profit
- 76,703,936€
- Margin
- 41.8%
- Employees
- 559
- Payroll cost/emp./mo*
- 2,217€
- 2Crnogorski Telekom02289377 · PodgoricaRevenue share14.7%
- Revenue
- 94,305,603€
- Revenue change 2024→2025
- +2.9%
- Profit
- 7,704,422€
- Margin
- 8.2%
- Employees
- 465
- Payroll cost/emp./mo*
- 2,357€
- 3One Crna Gora02242974 · PodgoricaRevenue share10.9%
- Revenue
- 69,727,237€
- Revenue change 2024→2025
- +2.7%
- Profit
- 12,482,809€
- Margin
- 17.9%
- Employees
- 384
- Payroll cost/emp./mo*
- 2,214€
- 4Telemach Crna Gora02811618 · PodgoricaRevenue share2.5%
- Revenue
- 16,022,459€
- Revenue change 2024→2025
- +2.5%
- Profit
- 1,194,063€
- Margin
- 7.5%
- Employees
- 131
- Payroll cost/emp./mo*
- 1,481€
- 5Epam Systems Montenegro03381447 · PodgoricaRevenue share2.0%
- Revenue
- 12,563,722€
- Revenue change 2024→2025
- -15.0%
- Profit
- 997,278€
- Margin
- 7.9%
- Employees
- 234
- Payroll cost/emp./mo*
- 3,849€
- 6Stolitomson Company03399575 · TivatRevenue share1.9%
- Revenue
- 12,059,648€
- Revenue change 2024→2025
- -58.2%
- Profit
- 79,075€
- Margin
- 0.7%
- Employees
- 2
- Payroll cost/emp./mo*
- 13,467€
- 7Domen02686473 · PodgoricaRevenue share1.6%
- Revenue
- 10,135,097€
- Revenue change 2024→2025
- +4.2%
- Profit
- 3,570,979€
- Margin
- 35.2%
- Employees
- 7
- Payroll cost/emp./mo*
- 5,114€
- 8Čikom02177579 · PodgoricaRevenue share1.4%
- Revenue
- 9,294,008€
- Revenue change 2024→2025
- -8.2%
- Profit
- 289,058€
- Margin
- 3.1%
- Employees
- 73
- Payroll cost/emp./mo*
- 2,430€
- 9Ericsson Ab Štokholm03014649 · PodgoricaRevenue share1.3%
- Revenue
- 8,653,212€
- Revenue change 2024→2025
- +0.6%
- Profit
- 249,370€
- Margin
- 2.9%
- Employees
- 122
- Payroll cost/emp./mo*
- 2,208€
- 10Tungsten Montenegro03428184 · PodgoricaRevenue share1.1%
- Revenue
- 6,760,599€
- Revenue change 2024→2025
- +4.1%
- Profit
- 394,225€
- Margin
- 5.8%
- Employees
- 117
- Payroll cost/emp./mo*
- 3,870€
- 11Radio - Difuzni Centar02394294 · PodgoricaRevenue share0.9%
- Revenue
- 5,851,746€
- Revenue change 2024→2025
- +2.4%
- Profit
- 45,134€
- Margin
- 0.8%
- Employees
- 107
- Payroll cost/emp./mo*
- 1,857€
- 12Agencija za Elektronske Komunikacije i Poštansku Djelatnost - Podgorica02326710 · PodgoricaRevenue share0.9%
- Revenue
- 5,840,878€
- Revenue change 2024→2025
- +14.1%
- Profit
- 923,492€
- Margin
- 15.8%
- Employees
- 77
- Payroll cost/emp./mo*
- 3,452€
- 13G Tech02787768 · PodgoricaRevenue share0.7%
- Revenue
- 4,317,154€
- Revenue change 2024→2025
- +15.6%
- Profit
- 161,785€
- Margin
- 3.7%
- Employees
- 15
- Payroll cost/emp./mo*
- 1,690€
- 14Galleon02780798 · PodgoricaRevenue share0.6%
- Revenue
- 3,780,000€
- Revenue change 2024→2025
- +5.3%
- Profit
- 275,360€
- Margin
- 7.3%
- Employees
- 178
- Payroll cost/emp./mo*
- 1,419€
- 15Logate02632284 · PodgoricaRevenue share0.5%
- Revenue
- 3,505,565€
- Revenue change 2024→2025
- +16.8%
- Profit
- 297,429€
- Margin
- 8.5%
- Employees
- 70
- Payroll cost/emp./mo*
- 2,176€
- 16Adriacore It Solutions03158373 · PodgoricaRevenue share0.5%
- Revenue
- 3,291,355€
- Revenue change 2024→2025
- -43.6%
- Profit
- -128,389€
- Margin
- -3.9%
- Employees
- 13
- Payroll cost/emp./mo*
- 1,248€
- 17BGS Consulting03110222 · PodgoricaRevenue share0.5%
- Revenue
- 3,048,402€
- Revenue change 2024→2025
- +11.9%
- Profit
- 735,329€
- Margin
- 24.1%
- Employees
- 52
- Payroll cost/emp./mo*
- 2,772€
- 18Playrix Montenegro03489159 · PodgoricaRevenue share0.4%
- Revenue
- 2,820,315€
- Revenue change 2024→2025
- -42.8%
- Profit
- 200,345€
- Margin
- 7.1%
- Employees
- 42
- Payroll cost/emp./mo*
- 4,741€
- 19Wireless Montenegro02863812 · PodgoricaRevenue share0.4%
- Revenue
- 2,710,237€
- Revenue change 2024→2025
- -11.1%
- Profit
- 166,227€
- Margin
- 6.1%
- Employees
- 19
- Payroll cost/emp./mo*
- 2,551€
- 20NS Group02862786 · PodgoricaRevenue share0.4%
- Revenue
- 2,680,599€
- Revenue change 2024→2025
- +333.9%
- Profit
- 13,394€
- Margin
- 0.5%
- Employees
- 3
- Payroll cost/emp./mo*
- 840€
- 21SKY Towers Infrastructure03554775 · PodgoricaRevenue share0.4%
- Revenue
- 2,668,162€
- Revenue change 2024→2025
- +11.9%
- Profit
- 1,539,607€
- Margin
- 57.7%
- Employees
- 3
- Payroll cost/emp./mo*
- 4,039€
- 22Network Communication02390663 · TivatRevenue share0.4%
- Revenue
- 2,424,333€
- Revenue change 2024→2025
- +46.1%
- Profit
- 267,118€
- Margin
- 11.0%
- Employees
- 30
- Payroll cost/emp./mo*
- 1,031€
- 23Axians - Crna Gora02358514 · PodgoricaRevenue share0.4%
- Revenue
- 2,390,812€
- Revenue change 2024→2025
- +32.8%
- Profit
- 9,902€
- Margin
- 0.4%
- Employees
- 14
- Payroll cost/emp./mo*
- 3,331€
- 24Polako Development03493881 · PodgoricaRevenue share0.4%
- Revenue
- 2,362,960€
- Revenue change 2024→2025
- +36.5%
- Profit
- 982,426€
- Margin
- 41.6%
- Employees
- 27
- Payroll cost/emp./mo*
- 2,696€
- 25Amplitudo02907259 · PodgoricaRevenue share0.4%
- Revenue
- 2,331,224€
- Revenue change 2024→2025
- +9.3%
- Profit
- 171,843€
- Margin
- 7.4%
- Employees
- 65
- Payroll cost/emp./mo*
- 2,123€
- 26Solvership02713098 · PodgoricaRevenue share0.3%
- Revenue
- 2,210,518€
- Revenue change 2024→2025
- +10.6%
- Profit
- 440,610€
- Margin
- 19.9%
- Employees
- 37
- Payroll cost/emp./mo*
- 2,857€
- 27Amdocs Montenegro02953811 · PodgoricaRevenue share0.3%
- Revenue
- 2,157,126€
- Revenue change 2024→2025
- +408.3%
- Profit
- -27,390€
- Margin
- -1.3%
- Employees
- 5
- Payroll cost/emp./mo*
- 4,406€
- 28International Bridge03037258 · PodgoricaRevenue share0.3%
- Revenue
- 2,046,263€
- Revenue change 2024→2025
- +22.8%
- Profit
- 42,207€
- Margin
- 2.1%
- Employees
- 65
- Payroll cost/emp./mo*
- 2,331€
- 29Belka Games Me03418545 · BudvaRevenue share0.3%
- Revenue
- 1,969,609€
- Revenue change 2024→2025
- -39.2%
- Profit
- 76,129€
- Margin
- 3.9%
- Employees
- 23
- Payroll cost/emp./mo*
- 5,079€
- 30Synergysuite03131343 · PodgoricaRevenue share0.3%
- Revenue
- 1,910,877€
- Revenue change 2024→2025
- +9.2%
- Profit
- 17,241€
- Margin
- 0.9%
- Employees
- 48
- Payroll cost/emp./mo*
- 2,878€
- 31Vega Delivery Center Montenegro03374700 · PodgoricaRevenue share0.3%
- Revenue
- 1,893,845€
- Revenue change 2024→2025
- -1.9%
- Profit
- 5,537€
- Margin
- 0.3%
- Employees
- 46
- Payroll cost/emp./mo*
- 2,315€
- 32Datalab.Mn02679744 · PodgoricaRevenue share0.3%
- Revenue
- 1,857,323€
- Revenue change 2024→2025
- +5.9%
- Profit
- 451,061€
- Margin
- 24.3%
- Employees
- 22
- Payroll cost/emp./mo*
- 1,601€
- 33Euronet Services03314766 · PodgoricaRevenue share0.3%
- Revenue
- 1,842,420€
- Revenue change 2024→2025
- +12.5%
- Profit
- -275,979€
- Margin
- -15.0%
- Employees
- 2
- Payroll cost/emp./mo*
- 2,826€
- 34First Line Software03413772 · BudvaRevenue share0.3%
- Revenue
- 1,832,615€
- Revenue change 2024→2025
- -37.8%
- Profit
- -81,623€
- Margin
- -4.5%
- Employees
- 106
- Payroll cost/emp./mo*
- 1,067€
- 35Clicker Team03648257 · PodgoricaRevenue share0.3%
- Revenue
- 1,652,490€
- Revenue change 2024→2025
- +97.6%
- Profit
- 354,036€
- Margin
- 21.4%
- Employees
- 13
- Payroll cost/emp./mo*
- 6,751€
- 36VG Efiskal02631911 · BarRevenue share0.2%
- Revenue
- 1,535,335€
- Revenue change 2024→2025
- +10.1%
- Profit
- 190,182€
- Margin
- 12.4%
- Employees
- 20
- Payroll cost/emp./mo*
- 1,868€
- 37Ai03243966 · PodgoricaRevenue share0.2%
- Revenue
- 1,518,284€
- Revenue change 2024→2025
- +40.7%
- Profit
- 399,366€
- Margin
- 26.3%
- Employees
- 20
- Payroll cost/emp./mo*
- 1,455€
- 38Montora Software02335433 · PodgoricaRevenue share0.2%
- Revenue
- 1,504,014€
- Revenue change 2024→2025
- +2.5%
- Profit
- 40,979€
- Margin
- 2.7%
- Employees
- 27
- Payroll cost/emp./mo*
- 1,239€
- 39E - Mon02420414 · PodgoricaRevenue share0.2%
- Revenue
- 1,480,868€
- Revenue change 2024→2025
- -4.6%
- Profit
- 349,653€
- Margin
- 23.6%
- Employees
- 6
- Payroll cost/emp./mo*
- 3,075€
- 40MT Consulting03253503 · PodgoricaRevenue share0.2%
- Revenue
- 1,472,020€
- Revenue change 2024→2025
- +36.0%
- Profit
- 219,520€
- Margin
- 14.9%
- Employees
- 3
- Payroll cost/emp./mo*
- 8,955€
- 41Satvision03040313 · PodgoricaRevenue share0.2%
- Revenue
- 1,468,364€
- Revenue change 2024→2025
- +29.0%
- Profit
- 309,390€
- Margin
- 21.1%
- Employees
- 21
- Payroll cost/emp./mo*
- 1,689€
- 42Astrasoft03339645 · PodgoricaRevenue share0.2%
- Revenue
- 1,449,997€
- Revenue change 2024→2025
- -4.4%
- Profit
- 134,004€
- Margin
- 9.2%
- Employees
- 85
- Payroll cost/emp./mo*
- 738€
- 43Riffdale Technologies03439135 · PodgoricaRevenue share0.2%
- Revenue
- 1,443,002€
- Revenue change 2024→2025
- +53.4%
- Profit
- 70,575€
- Margin
- 4.9%
- Employees
- 93
- Payroll cost/emp./mo*
- 1,058€
- 44SMP Montenegro02902010 · PodgoricaRevenue share0.2%
- Revenue
- 1,425,752€
- Revenue change 2024→2025
- +5.4%
- Profit
- -11,460€
- Margin
- -0.8%
- Employees
- 1
- Payroll cost/emp./mo*
- 1,197€
- 45Niss03000087 · PodgoricaRevenue share0.2%
- Revenue
- 1,425,060€
- Revenue change 2024→2025
- -51.1%
- Profit
- 85,436€
- Margin
- 6.0%
- Employees
- 1
- Payroll cost/emp./mo*
- 2,533€
- 46Datum Solutions03073572 · PodgoricaRevenue share0.2%
- Revenue
- 1,393,891€
- Revenue change 2024→2025
- +1.8%
- Profit
- 95,590€
- Margin
- 6.9%
- Employees
- 24
- Payroll cost/emp./mo*
- 3,969€
- 47Agencija za Audiovizuelne Medijske Usluge02386135 · PodgoricaRevenue share0.2%
- Revenue
- 1,392,544€
- Revenue change 2024→2025
- +2.8%
- Profit
- 180,824€
- Margin
- 13.0%
- Employees
- 30
- Payroll cost/emp./mo*
- 2,171€
- 48Mankrik03454517 · BudvaRevenue share0.2%
- Revenue
- 1,381,904€
- Revenue change 2024→2025
- -12.7%
- Profit
- 301,073€
- Margin
- 21.8%
- Employees
- 16
- Payroll cost/emp./mo*
- 3,908€
- 49Linux Development03421252 · BudvaRevenue share0.2%
- Revenue
- 1,283,200€
- Revenue change 2024→2025
- -36.0%
- Profit
- 1,457€
- Margin
- 0.1%
- Employees
- 16
- Payroll cost/emp./mo*
- 6,618€
- 50Trony Network02780089 · KotorRevenue share0.2%
- Revenue
- 1,274,022€
- Revenue change 2024→2025
- +32.6%
- Profit
- 244,587€
- Margin
- 19.2%
- Employees
- 12
- Payroll cost/emp./mo*
- 1,419€
* Avg payroll cost per employee per month = wages, wage compensation and other personnel expenses from the income statement (AOP 211: net wages, taxes and contributions on wages including the employer's, and other personnel expenses) / employees / 12. It is not an employee's gross or net salary; reporting errors can move it significantly, and values below 300€ a month are not shown. How we calculate →
Totals include 39 sole proprietors: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. How we calculate →
IT companies in Montenegro ranked by revenue 2025 →
Source: Tax Administration / CRPSCurrency: EUR