Revenue
19.2% of sector revenue
902 companies earned 123.22m€ in 2025, 19.2% of Technology sector revenue. Revenue has grown 5.7× since 2015.
19.2% of sector revenue
646 with at most one employee
Largest employer: Epam Systems Montenegro (234)
Median company 3.1% · 44% profitable
Average per employee, not per company
Revenue in € million (bars) and filing companies (below), 2015–2025
Revenue change vs 2024, companies with at least 1m€ that year
Ranked by total revenue · Showing 101–150 of 902
* 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 25 sole proprietors: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. How we calculate →
The activity title is the code's title in the KD 2010 classification (NACE Rev. 2), which applies to every year shown. The registry now shows titles from the new classification for the same codes, so titles can differ.
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 21,432,513€ | 102 |
| 2016 | 23,981,551€ | 124 |
| 2017 | 24,175,954€ | 135 |
| 2018 | 29,013,136€ | 150 |
| 2019 | 34,126,406€ | 186 |
| 2020 | 39,345,455€ | 224 |
| 2021 | 44,225,942€ | 321 |
| 2022 | 83,800,507€ | 618 |
| 2023 | 115,241,171€ | 793 |
| 2024 | 123,696,636€ | 854 |
| 2025 (Preliminary) | 123,221,357€ | 902 |
The number of companies jumped most in 2022: from 321 to 618.
Employees and payroll cost per employee per month*
0.1% |
| 179,198€ |
| +76.2% |
| 457€ |
| 0.3% |
| 4 |
| 2,000€ |
| 103 | Blavor03394719 · Danilovgrad | 0.1% | 179,080€ | -3.6% | 41,177€ | 23.0% | 2 | 3,339€ |
| 104 | Keinex03245454 · Herceg Novi | 0.1% | 169,500€ | +13.8% | 952€ | 0.6% | 1 | 13,624€ |
| 105 | Fain Tech03520846 · Podgorica | 0.1% | 167,794€ | -19.3% | 30,110€ | 17.9% | 5 | 1,666€ |
| 106 | Web Falcon03590437 · Podgorica | 0.1% | 161,151€ | +5.3% | 40,999€ | 25.4% | 5 | 1,546€ |
| 107 | Business Universal Media03097102 · Podgorica | 0.1% | 159,853€ | -29.6% | 2,332€ | 1.5% | 4 | 850€ |
| 108 | Software It Montenegro03271480 · Podgorica | 0.1% | 157,535€ | -83.8% | 3,487€ | 2.2% | 5 | 900€ |
| 109 | Paidt03592146 · Podgorica | 0.1% | 154,169€ | +1,027,693.3% | -69,985€ | -45.4% | 4 | 1,883€ |
| 110 | Bearhost03272303 · Bijelo Polje | 0.1% | 153,668€ | -12.9% | 21,116€ | 13.7% | 6 | 965€ |
| 111 | Wireless Media02666626 · Podgorica | 0.1% | 152,300€ | +18.8% | 11,487€ | 7.5% | 5 | 1,328€ |
| 112 | Brogames Montenegro03421724 · Bar | 0.1% | 149,530€ | +975.8% | -2,081€ | -1.4% | 2 | 752€ |
| 113 | Vicman.Me03432599 · Podgorica | 0.1% | 149,502€ | -3.5% | 4,241€ | 2.8% | 14 | 812€ |
| 114 | BD Software03417140 · Budva | 0.1% | 149,491€ | -10.4% | -18,601€ | -12.4% | 14 | 694€ |
| 115 | Matveenko03546047 · Podgorica | 0.1% | 146,366€ | +33.1% | -4,577€ | -3.1% | 1 | 10,243€ |
| 116 | Them03159302 · Mojkovac | 0.1% | 142,201€ | -0.7% | 2,991€ | 2.1% | 6 | 1,760€ |
| 117 | Devcor03376788 · Bijelo Polje | 0.1% | 139,902€ | +5.6% | 21,441€ | 15.3% | 6 | 1,542€ |
| 118 | Codemine03403912 · Pljevlja | 0.1% | 135,110€ | -54.0% | -2,562€ | -1.9% | 5 | 1,933€ |
| 119 | Alta Soft03427480 · Budva | 0.1% | 133,800€ | +89.4% | 3,282€ | 2.5% | 2 | 705€ |
| 120 | Codingo03066258 · Podgorica | 0.1% | 130,330€ | +296.6% | 69,146€ | 53.1% | 2 | 1,514€ |
| 121 | Flare Digital03556069 · Budva | 0.1% | 127,811€ | -5.2% | 85,423€ | 66.8% | 1 | 1,060€ |
| 122 | Lunapp Studio03489523 · Kotor | 0.1% | 126,916€ | -43.1% | -23,466€ | -18.5% | 1 | 835€ |
| 123 | Inquest03355586 · Podgorica | 0.1% | 126,388€ | -18.8% | 886€ | 0.7% | 1 | 1,357€ |
| 124 | Expert Code03577180 · Podgorica | 0.1% | 125,500€ | -56.7% | -37,795€ | -30.1% | 14 | 659€ |
| 125 | Datalink02147459 · Podgorica | 0.1% | 124,906€ | -9.0% | 31€ | 0.0% | 2 | 750€ |
| 126 | Proventum03612082 · Podgorica | 0.1% | 124,768€ | -32.6% | 271€ | 0.2% | 1 | — |
| 127 | Westend Software03270998 · Podgorica | 0.1% | 124,400€ | +3.7% | 2,152€ | 1.7% | 5 | 1,963€ |
| 128 | Bidernet03494462 · Podgorica | 0.1% | 123,893€ | -70.3% | -40,522€ | -32.7% | 1 | 3,213€ |
| 129 | Kinana03513173 · Podgorica | 0.1% | 123,380€ | +2.1% | 3,799€ | 3.1% | 2 | 4,764€ |
| 130 | Alchemy Games03463974 · Herceg Novi | 0.1% | 123,360€ | +1,453.7% | 9,462€ | 7.7% | 1 | 3,554€ |
| 131 | Asw - Inženjering03341208 · Podgorica | <0.1% | 120,000€ | +2,764.6% | 105,602€ | 88.0% | 1 | — |
| 132 | Pro Fuel Montenegro03578844 · Berane | <0.1% | 115,198€ | +19.3% | 23,151€ | 20.1% | 6 | 1,029€ |
| 133 | It Advanced Services02408619 · Podgorica | <0.1% | 114,537€ | +713.5% | 21,506€ | 18.8% | 2 | 2,191€ |
| 134 | Prim Soft02086824 · Nikšić | <0.1% | 114,247€ | -10.8% | 8,072€ | 7.1% | 5 | 1,618€ |
| 135 | Acme02853957 · Podgorica | <0.1% | 112,841€ | -3.2% | 1,796€ | 1.6% | 5 | 806€ |
| 136 | Approved03418707 · Podgorica | <0.1% | 111,449€ | +187.2% | 44,734€ | 40.1% | 1 | 4,552€ |
| 137 | Rowteam03438244 · Herceg Novi | <0.1% | 111,344€ | +137.8% | 77,177€ | 69.3% | 1 | 929€ |
| 138 | Proboka02460190 · Herceg Novi | <0.1% | 109,714€ | -3.8% | 3,381€ | 3.1% | 4 | 915€ |
| 139 | Develoop03410323 · Podgorica | <0.1% | 107,163€ | -19.5% | 4,895€ | 4.6% | 1 | 7,800€ |
| 140 | Artsh03440001 · Podgorica | <0.1% | 105,733€ | +37.8% | 24,872€ | 23.5% | 1 | 4,613€ |
| 141 | Restart It02829258 · Podgorica | <0.1% | 103,695€ | -9.2% | 36,681€ | 35.4% | 1 | 1,159€ |
| 142 | Focus02113490 · Herceg Novi | <0.1% | 103,124€ | -9.2% | 17,602€ | 17.1% | 3 | 1,389€ |
| 143 | Tali Software03434010 · Herceg Novi | <0.1% | 102,681€ | +125.0% | 47,828€ | 46.6% | 1 | 3,966€ |
| 144 | Dotenv03368220 · Podgorica | <0.1% | 101,941€ | +1.1% | 31,877€ | 31.3% | 2 | 2,311€ |
| 145 | Fibzit03460932 · Budva | <0.1% | 101,542€ | +0.6% | 51,901€ | 51.1% | 1 | 970€ |
| 146 | Noveo Montenegro03443990 · Bar | <0.1% | 101,520€ | +110.5% | -11,481€ | -11.3% | 2 | 754€ |
| 147 | Oblak.Com03379582 · Podgorica | <0.1% | 100,139€ | +11.8% | 13,235€ | 13.2% | 2 | 2,140€ |
| 148 | More Tech03218465 · Podgorica | <0.1% | 100,010€ | +0.0% | 68,598€ | 68.6% | 2 | 606€ |
| 149 | Doghead Development and Consulting03519791 · Podgorica | <0.1% | 99,103€ | -4.6% | 28,821€ | 29.1% | 2 | 2,218€ |
| 150 | Epsee Montenegro02757028 · Podgorica | <0.1% | 98,368€ | +110.2% | -59,205€ | -60.2% | 1 | 4,256€ |