Exploring These 3 High Growth Tech Stocks In Canada

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The Canadian market has recently experienced a rollercoaster ride, with stocks staging an impressive recovery from early August corrections, supported by a resilient economy and positive earnings growth. As the focus shifts towards growth amidst easing monetary policies, we explore three high-growth tech stocks in Canada that may benefit from these evolving conditions and broader market sentiment.

Top 10 High Growth Tech Companies In Canada

Name

Revenue Growth

Earnings Growth

Growth Rating

Docebo

14.74%

34.09%

★★★★★☆

Constellation Software

16.17%

23.55%

★★★★★☆

HIVE Digital Technologies

54.20%

100.27%

★★★★★☆

GameSquare Holdings

38.08%

86.64%

★★★★★☆

Stingray Group

4.94%

69.22%

★★★★☆☆

Medicenna Therapeutics

62.37%

57.20%

★★★★★☆

Sabio Holdings

12.97%

122.50%

★★★★☆☆

BlackBerry

20.61%

76.74%

★★★★★☆

Cineplex

8.05%

179.27%

★★★★☆☆

Alpha Cognition

62.98%

69.54%

★★★★★☆

Click here to see the full list of 23 stocks from our TSX High Growth Tech and AI Stocks screener.

Let's explore several standout options from the results in the screener.

Cineplex

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Cineplex Inc., along with its subsidiaries, operates as an entertainment and media company in Canada and internationally, with a market cap of CA$691.61 million.

Operations: Cineplex generates revenue primarily from three segments: Media (CA$120.16 million), Location-Based Entertainment (CA$132.08 million), and Film Entertainment and Content (CA$1.05 billion). The company operates in Canada and internationally, leveraging its diverse entertainment offerings to drive its business model.

Cineplex reported a net loss of CAD 21.44 million for Q2 2024, compared to a net income of CAD 176.55 million last year, highlighting substantial volatility. Despite this, the company announced a share repurchase program to buy back up to 6.32 million shares by August 2025, potentially boosting shareholder value. Revenue for the quarter was CAD 277.34 million versus CAD 367.92 million in Q2 2023, indicating an ongoing challenge in regaining pre-pandemic performance levels.

TSX:CGX Revenue and Expenses Breakdown as at Sep 2024
TSX:CGX Revenue and Expenses Breakdown as at Sep 2024

Docebo

Simply Wall St Growth Rating: ★★★★★☆

Overview: Docebo Inc. operates as a learning management software company that provides an artificial intelligence-powered learning platform in North America and internationally, with a market cap of CA$1.74 billion.

Operations: Docebo Inc. generates revenue primarily from its AI-powered educational software, which accounted for CA$200.24 million. The company's market cap is approximately CA$1.74 billion.