Exploring 3 High Growth Tech Stocks In Australia

In This Article:

In the last week, the Australian market has stayed flat, but it has risen 12% in the past 12 months with earnings forecast to grow by 14% annually. In this favorable environment, identifying high growth tech stocks can be crucial for investors looking to capitalize on robust performance and future potential.

Top 10 High Growth Tech Companies In Australia

Name

Revenue Growth

Earnings Growth

Growth Rating

Infomedia

7.43%

29.47%

★★★★★☆

Clinuvel Pharmaceuticals

22.90%

28.13%

★★★★★★

Doctor Care Anywhere Group

23.44%

96.41%

★★★★★★

Enlitic

104.77%

94.35%

★★★★★☆

DUG Technology

13.29%

46.01%

★★★★★☆

Megaport

13.56%

32.16%

★★★★★☆

Xero

13.50%

24.14%

★★★★★☆

Mesoblast

45.23%

49.67%

★★★★★★

Adveritas

66.47%

103.87%

★★★★★★

SiteMinder

20.26%

70.41%

★★★★★☆

Click here to see the full list of 55 stocks from our ASX High Growth Tech and AI Stocks screener.

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

EVT

Simply Wall St Growth Rating: ★★★★☆☆

Overview: EVT Limited operates as an entertainment, hospitality, and leisure company in Australia, New Zealand, and Germany with a market cap of A$1.79 billion.

Operations: The company generates revenue primarily from its Hotels and Resorts segment (A$377.63 million), Entertainment in Australia and New Zealand (A$474.26 million), Entertainment in Germany (A$272.54 million), Thredbo Alpine Resort (A$88.36 million), and Property operations (A$10.62 million).

EVT Limited reported a revenue of AUD 1.23 billion for the full year ending June 30, 2024, showing a slight decrease from AUD 1.28 billion the previous year. Despite this, earnings are forecast to grow at an impressive rate of 30.2% annually over the next few years, significantly outpacing the Australian market's average growth rate of 13.6%. The company's net profit margin has dropped to 3% from last year's 10.7%, reflecting challenges in maintaining profitability amid fluctuating market conditions. EVT's focus on innovation is evident with substantial R&D expenses contributing to long-term strategic initiatives aimed at enhancing their entertainment and technology segments.

ASX:EVT Revenue and Expenses Breakdown as at Aug 2024
ASX:EVT Revenue and Expenses Breakdown as at Aug 2024

Mesoblast

Simply Wall St Growth Rating: ★★★★★★

Overview: Mesoblast Limited develops regenerative medicine products in Australia, the United States, Singapore, and Switzerland with a market cap of A$1.10 billion.

Operations: Mesoblast Limited focuses on developing regenerative medicine products, generating revenue primarily from its Adult Stem Cell Technology Platform, which brought in $7.47 million. The company operates across Australia, the United States, Singapore, and Switzerland.