High Growth Tech Stocks to Watch in Australia September 2024

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 (ASX:360)

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.

• Navigate through the intricacies of Life360 with our comprehensive health report here.

• Explore historical data to track Life360's performance over time in our Past section.

SEEK (ASX:SEK)

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.

Operations: SEEK Limited generates revenue primarily from its Employment Marketplaces in ANZ (A$840.10 million) and Asia (A$244 million). The company focuses on offering online employment services across multiple regions, contributing to its market cap of A$8.86 billion.

Despite a challenging fiscal year where SEEK reported a significant net loss of AUD 100.9 million, the company's commitment to innovation is evident in its R&D investments and revenue growth projections. With an annual revenue growth rate of 7.3%, SEEK outperforms the broader Australian market average of 5.4%. The firm's R&D expenses underscore its strategic focus, aiming to reverse recent downturns and fuel future profitability, highlighted by an expected earnings surge of 40.5% per year. This approach may position SEEK favorably as it navigates recovery and aims for market leadership in tech-driven employment solutions, leveraging its robust platform to meet evolving client needs effectively.

• Delve into the full analysis health report here for a deeper understanding of SEEK.

• Assess SEEK's past performance with our detailed historical performance reports.

WiseTech Global (ASX:WTC)

Simply Wall St Growth Rating: ★★★★★☆

Overview: WiseTech Global Limited develops and provides software solutions for the logistics execution industry across the Americas, Asia Pacific, Europe, the Middle East, and Africa with a market cap of A$44.62 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 for the logistics execution industry across multiple regions.

WiseTech Global, an Australian tech firm, has demonstrated robust growth with a revenue increase of 19.1% per year, outpacing the national market average of 5.4%. This growth is complemented by a significant rise in earnings, projected at 23.9% annually, which surpasses broader market expectations. Notably, WiseTech's commitment to innovation is reflected in its R&D spending trends which have strategically bolstered its software solutions and customer offerings in the logistics sector—a key driver behind its competitive edge and future revenue projections of $1.3 billion to $1.35 billion for FY2025.

• Get an in-depth perspective on WiseTech Global's performance by reading our health report here.

• Gain insights into WiseTech Global's past trends and performance with our Past report.

Taking Advantage

• Get an in-depth perspective on all 64 ASX High Growth Tech and AI Stocks by using our screener here.
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Seeking Other Investments?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

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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