High Growth Australian Tech Stocks To Watch In August 2024
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The Australian market has shown a positive trend, rising 1.1% over the last week and 11% over the past year, with earnings projected to grow by 13% annually in the coming years. In this favorable environment, identifying high-growth tech stocks that can capitalize on these conditions is crucial for investors looking to maximize their returns.
Top 10 High Growth Tech Companies In Australia
| Name | Revenue Growth | Earnings Growth | Growth Rating |
|---|---|---|---|
| Infomedia | 7.67% | 28.71% | ★★★★★☆ |
| Clinuvel Pharmaceuticals | 22.90% | 28.13% | ★★★★★★ |
| Doctor Care Anywhere Group | 23.44% | 96.41% | ★★★★★★ |
| Megaport | 13.60% | 32.52% | ★★★★★☆ |
| Enlitic | 104.77% | 94.35% | ★★★★★☆ |
| DUG Technology | 13.29% | 46.01% | ★★★★★☆ |
| Xero | 13.50% | 24.14% | ★★★★★☆ |
| Mesoblast | 45.23% | 49.67% | ★★★★★★ |
| Adveritas | 66.47% | 103.87% | ★★★★★★ |
| SiteMinder | 19.40% | 61.16% | ★★★★★☆ |
Click here to see the full list of 54 stocks from our ASX High Growth Tech and AI Stocks screener.
Here we highlight a subset of our preferred stocks from the screener.
Qoria
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Qoria Limited, with a market cap of A$433.74 million, focuses on marketing, distributing, and selling cyber safety products and services.
Operations: Qoria Limited generates its revenue by marketing, distributing, and selling cyber safety products and services. The company operates within a niche market focused on digital security solutions.
Qoria's recent earnings report highlighted a significant improvement, with sales reaching AUD 99.45 million, up from AUD 81.88 million last year, while net losses narrowed to AUD 54.77 million from AUD 86.72 million. Despite being unprofitable, the company is on track to achieve profitability within three years and boasts an expected annual earnings growth rate of 78.31%. The revenue growth forecast of 15.2% per year outpaces the Australian market's average of 5.3%, driven by robust R&D investments totaling $12M annually.
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Delve into the full analysis health report here for a deeper understanding of Qoria.
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Gain insights into Qoria's historical performance by reviewing our past performance report.
SEEK
Simply Wall St Growth Rating: ★★★★☆☆
Overview: SEEK Limited, along with its subsidiaries, provides online employment marketplace services across Australia, South East Asia, New Zealand, the United Kingdom, Europe, and other international regions and has a market cap of A$8.28 billion.
Operations: SEEK Limited generates revenue primarily from its Employment Marketplaces segments in Australia and New Zealand (A$840.10 million) and Asia (A$244 million). The company focuses on providing online employment marketplace services across various international regions.