Over the last 7 days, the Australian market has risen 1.7%, and over the past year, it has climbed 12%, with earnings forecasted to grow by 12% annually. In this favorable environment, identifying high growth tech stocks like Pro Medicus and two others can present significant opportunities for investors looking to capitalize on strong performance trends.

Top 10 High Growth Tech Companies In Australia

Click here to see the full list of 62 stocks from our ASX High Growth Tech and AI Stocks screener.

Below we spotlight a couple of our favorites from our exclusive screener.

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 and services to hospitals, imaging centers, and healthcare groups in Australia, North America, and Europe, with a market cap of A$17.75 billion.

Operations: Pro Medicus Limited generates revenue primarily through the production of integrated software applications for the healthcare industry, amounting to A$161.50 million. The company serves hospitals, imaging centers, and healthcare groups across Australia, North America, and Europe.

Pro Medicus, a standout in the Australian tech landscape, reported robust revenue growth of 16.8% annually, outpacing the broader market’s 5.3%. Their R&D expenses reflect significant investment in innovation, with $20.5 million spent last year alone. Earnings surged by 36.5%, driven by high-quality non-cash earnings and a forecasted annual profit growth rate of 18.7%. The company also announced an increased dividend payout of $0.40 per share for FY2024, signaling strong financial health and shareholder value.

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Technology One Limited develops, markets, sells, implements, and supports integrated enterprise business software solutions in Australia and internationally with a market cap of A$7.67 billion.

Operations: The company generates revenue from three primary segments: Software (A$317.24 million), Corporate (A$83.83 million), and Consulting (A$68.13 million). The focus is on providing integrated enterprise business software solutions across various regions, including Australia and international markets.

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Technology One has demonstrated solid growth, with earnings increasing by 13.1% over the past year, surpassing the software industry average of 6.8%. The company’s R&D expenses reflect a strong commitment to innovation, spending $20.5 million last year alone. Revenue is projected to grow at an annual rate of 11.5%, faster than the broader Australian market’s 5.3%. The recent appointment of Paul Robson as Non-Executive Director brings valuable expertise in scaling SaaS businesses and strategic transformation, potentially driving further growth and operational efficiency on their global SaaS platform.

Simply Wall St Growth Rating: ★★★★★☆

Overview: WiseTech Global Limited develops and provides software solutions for the logistics execution industry across multiple regions, including the Americas, Asia Pacific, Europe, the Middle East, and Africa, with a market cap of A$43.84 billion.

Operations: WiseTech Global Limited generates revenue primarily from its Internet Software & Services segment, amounting to A$1.04 billion. The company focuses on providing software solutions tailored to the logistics execution industry across various global regions.

WiseTech Global’s revenue surged to AUD 1.04 billion, reflecting a robust 27.5% year-over-year growth, with earnings climbing by an impressive 23.8%. The company’s R&D expenditure of AUD 161.4 million underscores its commitment to innovation, contributing significantly to the AI and logistics software sectors. Expected revenue growth of 19.1% annually positions WiseTech ahead of the broader Australian market’s average growth rate of 5.3%, while forecasted earnings growth at 23.9% further highlights its strong performance trajectory in high-growth tech spaces.

Next Steps

• Investigate our full lineup of 62 ASX High Growth Tech and AI Stocks right here.

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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:PME ASX:TNE and ASX:WTC.

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