High Growth Canadian Tech Stocks To Watch In September 2024

As the Canadian TSX has experienced a 3% decline amid a broader market sell-off driven by softening labor markets in both the U.S. and Canada, investors are keenly watching how central bank policies may evolve in response to these economic indicators. In this environment of uncertainty, identifying high-growth tech stocks with strong fundamentals and potential resilience becomes crucial for long-term investment strategies.

Top 10 High Growth Tech Companies In Canada

Name	Revenue Growth	Earnings Growth	Growth Rating
Docebo	14.74%	34.09%	★★★★★☆
Constellation Software	16.17%	23.55%	★★★★★☆
HIVE Digital Technologies	54.20%	100.27%	★★★★★☆
GameSquare Holdings	38.08%	86.64%	★★★★★☆
VerticalScope Holdings	6.93%	70.02%	★★★★☆☆
Medicenna Therapeutics	62.37%	57.20%	★★★★★☆
Sabio Holdings	12.97%	122.50%	★★★★☆☆
BlackBerry	20.61%	76.74%	★★★★★☆
Cineplex	7.33%	179.27%	★★★★☆☆
Alpha Cognition	62.98%	69.54%	★★★★★☆

Click here to see the full list of 23 stocks from our TSX High Growth Tech and AI Stocks screener.

Here we highlight a subset of our preferred stocks from the screener.

Constellation Software (TSX:CSU)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Constellation Software Inc., along with its subsidiaries, acquires, builds, and manages vertical market software businesses across Canada, the United States, Europe, and internationally, with a market cap of CA$89.42 billion.

Operations: Constellation Software Inc. generates revenue primarily from its Software & Programming segment, which accounted for CA$9.27 billion. The company focuses on acquiring, building, and managing vertical market software businesses across various regions globally.

Constellation Software reported Q2 2024 revenue of $2.47 billion, a 21% increase from the previous year, with net income rising to $177 million from $103 million. The launch of Omegro consolidates over 30 business units and serves more than 15,000 customers globally, enhancing their software offerings across various sectors. With earnings expected to grow at an annual rate of 23.6%, Constellation's R&D expenses reflect strategic investments in innovation and long-term growth potential.

• Click to explore a detailed breakdown of our findings in Constellation Software's health report.

• Gain insights into Constellation Software's past trends and performance with our Past report.

Kinaxis (TSX:KXS)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Kinaxis Inc. provides cloud-based subscription software for supply chain operations across the United States, Europe, Asia, and Canada, with a market cap of CA$4.24 billion.

Operations: Kinaxis generates revenue primarily through its software and programming segment, which accounted for $457.72 million. The company operates in the United States, Europe, Asia, and Canada.

Kinaxis has demonstrated robust earnings growth, with a 137.9% increase over the past year, significantly outpacing the software industry's 1.9%. The company's revenue is forecast to grow at an annual rate of 14.9%, while its earnings are expected to rise by an impressive 47.3% per year, highlighting strong future potential. Kinaxis' strategic investments in R&D have been substantial, with expenses reaching $48 million last quarter, underscoring their commitment to innovation and maintaining a competitive edge in supply chain planning technology.

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

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

HIVE Digital Technologies (TSXV:HIVE)

Simply Wall St Growth Rating: ★★★★★☆

Overview: HIVE Digital Technologies Ltd. engages in the mining and sale of digital currencies in Canada, Sweden, and Iceland, with a market cap of CA$449.84 million.

Operations: The company generates revenue primarily through the mining and sale of digital currencies, with a reported revenue of $123.14 million (CAD). Operating in Canada, Sweden, and Iceland, it focuses on leveraging its geographic footprint to optimize its mining operations.

HIVE Digital Technologies has shown significant operational efficiency, mining 112 Bitcoin in August 2024 and averaging daily production of 3.6 BTC. The company's revenue surged by 27% to $29.64 million for Q1 2024, while net income reached $3.26 million from a previous net loss of $16.25 million a year ago. With R&D expenses at approximately $5 million last quarter, HIVE emphasizes innovation in blockchain technology and digital asset mining, aligning with its projected annual revenue growth rate of 54.2%.

• Click here and access our complete health analysis report to understand the dynamics of HIVE Digital Technologies.

• Review our historical performance report to gain insights into HIVE Digital Technologies''s past performance.

Key Takeaways

• Unlock our comprehensive list of 23 TSX High Growth Tech and AI Stocks by clicking here.
• Are these companies part of your investment strategy? Use Simply Wall St to consolidate your holdings into a portfolio and gain insights with our comprehensive analysis tools.
• Join a community of smart investors by using Simply Wall St. It's free and delivers expert-level analysis on worldwide markets.

Searching for a Fresh Perspective?

• 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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com