Over the last 7 days, the Australian market has dropped 1.3%, yet it remains up 10% over the past year with earnings forecasted to grow by 12% annually. In this context, identifying high growth tech stocks involves looking for companies that demonstrate robust financial health and strong potential for future expansion despite short-term market fluctuations.

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.

Here’s a peek at a few of the choices from the 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$16.59 billion.

Operations: Pro Medicus generates revenue primarily from the production of integrated software applications for the healthcare industry, amounting to A$161.50 million. The company operates across Australia, North America, and Europe, focusing on imaging software and radiology information systems (RIS).

Pro Medicus has demonstrated robust financial performance, with revenue rising to AUD 166.33 million and net income reaching AUD 82.79 million for the fiscal year ending June 30, 2024. The company’s earnings growth of 36.5% significantly outpaced the Healthcare Services industry average of 13.9%. With an annual profit growth forecasted at 18.7%, Pro Medicus is positioned to continue its upward trajectory, particularly through its innovative medical imaging software solutions that cater to major healthcare providers globally.

Investing heavily in R&D, Pro Medicus spent a notable portion of its revenue on innovation, ensuring cutting-edge technology development that supports future growth prospects in the AI-driven healthcare sector. The company’s recent dividend increase by 33.3% also reflects strong financial health and commitment to shareholder returns, enhancing investor confidence in sustained profitability and market expansion potential within Australia’s tech landscape.

Simply Wall St Growth Rating: ★★★★☆☆

Overview: SEEK Limited, along with its subsidiaries, provides online employment marketplace services in Australia, South East Asia, New Zealand, the United Kingdom, Europe, and internationally and has a market cap of A$8.09 billion.

Operations: SEEK Limited generates revenue primarily through its Employment Marketplaces in Australia and New Zealand (A$840.10 million) and Asia (A$244 million). The company operates in multiple regions, offering online employment services to a broad international audience.

SEEK’s fiscal year ending June 30, 2024, saw sales of AUD 1.08 billion and a net loss of AUD 100.9 million, contrasting sharply with the previous year’s net income of AUD 1.05 billion. Despite this downturn, the company’s revenue is forecasted to grow at an annual rate of 7.4%, outpacing the broader Australian market growth rate of 5.3%. Notably, earnings are projected to increase by a substantial 41.36% per year over the next three years, positioning SEEK for a potential turnaround in profitability. The company has also declared a final cash dividend of AUD 0.16 per share for FY2024, indicating ongoing efforts to return value to shareholders amidst challenging financial performance.

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$42.18 billion.

Operations: With a market cap of A$42.18 billion, WiseTech Global Limited generates revenue primarily from its Internet Software & Services segment, amounting to A$1.04 billion. The company focuses on delivering software solutions tailored for the logistics execution industry across multiple regions globally.

WiseTech Global’s earnings are forecasted to grow at 23.9% annually, significantly outpacing the Australian market’s 12.2%. The company reported a revenue increase from AUD 816.8 million to AUD 1.04 billion and net income rising from AUD 212.2 million to AUD 262.8 million for FY2024, reflecting robust financial health and operational efficiency. Notably, WiseTech allocates substantial resources towards innovation with R&D expenses contributing a significant portion of their budget, driving future growth in logistics software solutions globally.

Seize The Opportunity

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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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