The market has stayed flat over the past 7 days but has risen 11% in the past 12 months, with earnings forecast to grow by 12% annually. In this context, identifying high-growth tech stocks that can capitalize on these favorable conditions is crucial for investors seeking robust returns.

Top 10 High Growth Tech Companies In Australia

Click here to see the full list of 56 stocks from our ASX High Growth Tech and AI Stocks screener.

Underneath we present a selection of stocks filtered out by our screen.

Simply Wall St Growth Rating: ★★★★★☆

Overview: Mesoblast Limited develops regenerative medicine products across Australia, the United States, Singapore, and Switzerland with a market cap of A$1.21 billion.

Operations: Mesoblast Limited focuses on the development of regenerative medicine products, generating revenue primarily from its Cell Technology Platform for Commercialization, which brought in $5.90 million.

Mesoblast, a prominent player in the biotech sector, is expected to see revenue growth of 46.9% annually, significantly outpacing the Australian market’s 5.3%. Despite reporting a net loss of $87.96 million for the year ended June 2024, its R&D expenses have been substantial, reflecting a strong commitment to innovation and development. The company’s lead product candidate Ryoncil (remestemcel-L) has shown promising results in Phase 3 trials for treating pediatric patients with SR-aGVHD and is under FDA review with potential approval anticipated by January 2025.

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Pro Medicus Limited is a healthcare informatics company that develops and supplies imaging software and radiology information system (RIS) software to hospitals, imaging centers, and healthcare groups in Australia, North America, and Europe, with a market cap of A$15.76 billion.

Operations: Pro Medicus Limited generates revenue by developing and supplying healthcare imaging software and radiology information system (RIS) software to hospitals, imaging centers, and healthcare groups across Australia, North America, and Europe. The company reported revenue of A$161.50 million from its integrated software applications for the healthcare industry.

Pro Medicus is making significant strides in the tech and healthcare sectors, with earnings forecasted to grow 18.6% annually, surpassing the Australian market’s 12.3%. Revenue growth is projected at 16.8% per year, supported by robust R&D investments that totaled AUD 20 million last fiscal year. The company reported a revenue increase to AUD 166.33 million for the year ended June 2024, up from AUD 127.33 million previously, indicating strong demand for its medical imaging software solutions among high-profile clients globally.

Simply Wall St Growth Rating: ★★★★★☆

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$40.28 billion.

Operations: WiseTech Global Limited generates revenue primarily from its Internet Software & Services segment, amounting to A$1.04 billion. The company’s focus is on delivering software solutions tailored for the logistics execution industry across multiple regions globally.

WiseTech Global’s revenue surged to AUD 1.04 billion in FY24, up from AUD 816.8 million the previous year, showcasing its robust growth trajectory. The company’s earnings grew by 23.8%, outpacing the software industry’s average of 6.7%. Notably, WiseTech invested heavily in R&D, spending AUD 161.4 million, which underscores its commitment to innovation and product development. With a projected annual profit growth of 23.9%, WiseTech is positioned well within Australia’s high-growth tech landscape.

Key Takeaways

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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.

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