High Growth Tech Stocks in Canada for September 2024

In This Article:

The Canadian market has experienced increased volatility recently, driven by concerns over a slowing economy and persistent inflation, yet stocks have managed to deliver strong gains and remain near record highs. In this environment, identifying high-growth tech stocks becomes crucial as they often possess the innovation and resilience needed to thrive amid economic fluctuations.

Top 10 High Growth Tech Companies In Canada

Name

Revenue Growth

Earnings Growth

Growth Rating

Docebo

14.71%

33.96%

★★★★★☆

Constellation Software

16.17%

23.55%

★★★★★☆

HIVE Digital Technologies

54.20%

100.27%

★★★★★☆

GameSquare Holdings

38.08%

86.64%

★★★★★☆

Blackline Safety

22.54%

162.50%

★★★★★☆

Medicenna Therapeutics

62.37%

57.20%

★★★★★☆

Cineplex

7.33%

179.27%

★★★★☆☆

Sabio Holdings

12.97%

122.50%

★★★★☆☆

BlackBerry

20.61%

76.74%

★★★★★☆

Alpha Cognition

62.98%

69.54%

★★★★★☆

Click here to see the full list of 24 stocks from our TSX High Growth Tech and AI Stocks screener.

Let's review some notable picks from our screened stocks.

Constellation Software

Simply Wall St Growth Rating: ★★★★★☆

Overview: Constellation Software Inc., along with its subsidiaries, acquires, builds, and manages vertical market software businesses in Canada, the United States, Europe, and internationally with a market cap of CA$92.30 billion.

Operations: Constellation Software Inc. generates revenue primarily from its Software & Programming segment, amounting to $9.27 billion. The company focuses on acquiring and managing vertical market software businesses across various regions including Canada, the United States, and Europe.

Constellation Software's revenue growth of 16.2% annually, though slower than some peers, is still robust compared to the Canadian market's 6.9%. Earnings are projected to rise by 23.6% per year, significantly outpacing the broader market's 15.2%. The recent launch of Omegro consolidates over 30 business units and serves more than 15,000 customers globally, enhancing its software offerings across diverse sectors like ERP and logistics management. R&D expenses have consistently supported innovation within these segments.

TSX:CSU Revenue and Expenses Breakdown as at Sep 2024
TSX:CSU 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 AI-powered learning platform in North America and internationally, with a market cap of CA$1.76 billion.

Operations: The company generates revenue primarily from its educational software segment, which reported $200.24 million in revenue. The AI-powered learning platform is the core product driving these sales across North America and international markets.