High Growth Tech Stocks to Watch in Australia September 2024

In This Article:

The Australian market has shown resilience, with the Materials sector gaining 6.9% while the overall market remained flat last week and up 15% over the past year; earnings are expected to grow by 12% per annum over the next few years. In this context, identifying high growth tech stocks that align with these promising trends can be crucial for investors looking to capitalize on Australia's robust economic outlook.

Top 10 High Growth Tech Companies In Australia

Name

Revenue Growth

Earnings Growth

Growth Rating

Clinuvel Pharmaceuticals

22.32%

27.42%

★★★★★★

Pureprofile

14.94%

80.73%

★★★★★☆

Adherium

86.80%

73.66%

★★★★★★

ImExHS

20.47%

111.20%

★★★★★★

AVA Risk Group

32.56%

118.83%

★★★★★★

Careteq

37.17%

126.21%

★★★★★☆

Pointerra

56.62%

126.45%

★★★★★★

Wrkr

36.31%

100.29%

★★★★★★

Adveritas

57.98%

144.21%

★★★★★★

SiteMinder

19.39%

60.31%

★★★★★☆

Click here to see the full list of 64 stocks from our ASX High Growth Tech and AI Stocks screener.

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

Life360

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Life360, Inc. operates a technology platform to locate people, pets, and things across various regions including North America, Europe, the Middle East, Africa, and internationally with a market cap of A$4.31 billion.

Operations: Life360, Inc. generates revenue primarily from its software and programming segment, which brought in $328.68 million. The company focuses on providing location services for people, pets, and things across multiple regions globally.

Life360, amid challenging market conditions, is navigating with a strategic focus on innovation and market expansion. With a robust revenue growth forecast at 15.7% annually, the company outpaces the broader Australian tech sector's average of 5.4%. Despite current unprofitability, earnings are expected to surge by an impressive 68.5% per annum. Recent product launches like the enhanced Tile Bluetooth trackers underscore Life360’s commitment to integrating safety and technology, aiming to solidify user engagement and open new revenue streams through innovative hardware linked seamlessly with their services. This approach not only diversifies their offerings but also enhances user dependency, which could be pivotal as they move towards profitability in the coming years.

ASX:360 Revenue and Expenses Breakdown as at Sep 2024
ASX:360 Revenue and Expenses Breakdown as at Sep 2024

SEEK

Simply Wall St Growth Rating: ★★★★☆☆

Overview: SEEK Limited, together with its subsidiaries, provides online employment marketplace services across Australia, South East Asia, New Zealand, the United Kingdom, Europe, and internationally and has a market cap of A$8.86 billion.