Over the last 7 days, the Australian market has dropped 1.3%, but it has risen by 11% over the past year with earnings forecasted to grow by 12% annually. In this context, identifying high growth tech stocks that demonstrate strong potential and resilience can be a strategic move for investors looking to capitalize on future opportunities.
Overview: FINEOS Corporation Holdings plc, along with its subsidiaries, develops and sells enterprise claims and policy management software for the employee benefits and life, accident, and health insurance industries worldwide; it has a market cap of A$485.49 million.
Operations: FINEOS Corporation Holdings plc focuses on developing and selling enterprise claims and policy management software, primarily generating revenue from the Software & Programming segment (€122.24 million). The company serves the employee benefits and life, accident, and health insurance sectors globally.
FINEOS Corporation Holdings has recently secured a significant client, Voya Financial, for its integrated disability management and absence claims platform, scheduled to go live in 2025. Despite reporting a net loss of €5.32 million for the half-year ending June 30, 2024, FINEOS projects total revenue between €130 million and €135 million for fiscal year 2024. The company’s R&D expenses reflect its commitment to innovation with significant investments aimed at enhancing their core software systems for life, accident, and health insurance markets.
Overview: Pro Medicus Limited is a healthcare informatics company that develops and supplies imaging software and radiology information system (RIS) software and services to hospitals, imaging centers, and healthcare groups in Australia, North America, and Europe, with a market cap of A$16.46 billion.
Operations: Pro Medicus generates revenue primarily from producing integrated software applications for the healthcare industry, amounting to A$161.50 million. The company focuses on providing advanced imaging software and radiology information system (RIS) solutions across Australia, North America, and Europe.
Pro Medicus has demonstrated robust growth, with revenue rising from AUD 127.33 million to AUD 166.33 million and net income increasing from AUD 60.65 million to AUD 82.79 million for the year ending June 30, 2024. The company's R&D expenses have been pivotal, supporting innovations in medical imaging software which is crucial for their high-profile clients like Mayo Clinic and Yale New Haven Health System. Additionally, Pro Medicus forecasts a revenue growth rate of 16.8% annually while earnings are projected to grow at an impressive rate of 18.7% per year, outpacing the Australian market's average of 12.1%.
Overview: WiseTech Global Limited develops and provides software solutions for the logistics execution industry across various regions including the Americas, Asia Pacific, Europe, the Middle East, and Africa, with a market cap of A$41.54 billion.
Operations: WiseTech Global Limited focuses on creating and supplying software solutions tailored for the logistics execution industry across multiple regions. The company generates revenue primarily from its Internet Software & Services segment, amounting to A$1.04 billion.
WiseTech Global has shown remarkable growth, with revenue climbing to AUD 1.04 billion and net income reaching AUD 262.8 million for the year ending June 30, 2024. The company’s R&D expenses have been substantial, supporting innovations in logistics software which is crucial for their high-profile clients like DHL and FedEx. Notably, earnings are projected to grow at an impressive rate of 23.9% annually over the next three years, outpacing the Australian market's average of 12.1%.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include ASX:FCL ASX:PME and ASX:WTC.
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