High Growth Tech Stocks in Germany to Watch This August 2024

As the European markets show signs of optimism with Germany's DAX index rising by 1.70%, investors are increasingly looking towards high-growth tech stocks in Germany as potential opportunities amid broader market enthusiasm. Given the current economic backdrop, characterized by anticipated rate cuts and a favorable environment for small-cap companies, it's crucial to identify stocks that demonstrate strong fundamentals and innovative capabilities within this thriving sector.

Top 10 High Growth Tech Companies In Germany

Name	Revenue Growth	Earnings Growth	Growth Rating
Ströer SE KGaA	7.39%	29.86%	★★★★★☆
Stemmer Imaging	13.34%	23.20%	★★★★★☆
Exasol	14.66%	117.10%	★★★★★☆
NAGA Group	25.85%	78.32%	★★★★★☆
medondo holding	34.52%	71.99%	★★★★★☆
ParTec	41.16%	63.31%	★★★★★★
Northern Data	32.53%	68.17%	★★★★★☆
cyan	27.51%	67.79%	★★★★★☆
Rubean	59.40%	73.87%	★★★★★☆
asknet Solutions	20.06%	74.86%	★★★★★☆

Click here to see the full list of 48 stocks from our German High Growth Tech and AI Stocks screener.

Let's dive into some prime choices out of from the screener.

Northern Data (DB:NB2)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Northern Data AG develops and operates high-performance computing (HPC) infrastructure solutions for businesses and research institutions worldwide, with a market cap of €1.59 billion.

Operations: Northern Data AG's primary revenue streams include Peak Mining (€156.13 million), Taiga Cloud (€22.13 million), and Ardent Data Centers (€31.46 million). The company also generates income from Other Companies and Group Functions, contributing €46.31 million to its overall revenue model.

Northern Data's revenue is forecast to grow at an impressive 32.5% annually, significantly outpacing the German market's 5.1%. Despite a net loss of €151 million in 2023, earnings are expected to surge by 68.17% per year, driven by robust R&D investments and strategic initiatives like the potential US IPO for its AI cloud computing and data center businesses valued between $10 billion and $16 billion. The company reaffirmed its fiscal year 2024 revenue target of €200-€240 million, aiming for substantial growth compared to previous years.

• Take a closer look at Northern Data's potential here in our health report.

• Understand Northern Data's track record by examining our Past report.

Formycon (XTRA:FYB)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Formycon AG is a biotechnology company focused on developing biosimilar drugs in Germany and Switzerland, with a market cap of €923.46 million.

Operations: Formycon AG specializes in developing biosimilar drugs, primarily generating revenue from its Drug Delivery Systems segment, which brought in €60.80 million. The company operates mainly within Germany and Switzerland.

Formycon's recent earnings report revealed a significant drop in sales to €26.89 million for H1 2024, compared to €43.79 million the previous year, alongside a net loss of €10.09 million versus a net income of €1.8 million last year. Despite these figures, the company’s revenue is forecast to grow at an impressive 32.5% annually, outpacing the German market's average growth rate of 5.1%. R&D expenses have been substantial, contributing to their innovative biosimilar developments and future growth prospects in the biotech industry.

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

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

Verve Group (XTRA:M8G)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Verve Group SE operates a software platform for the automated buying and selling of digital advertising space in North America and Europe, with a market cap of €553.48 million.

Operations: Verve Group SE generates revenue primarily through its Supply Side Platforms (SSP) at €318.35 million and Demand Side Platforms (DSP) at €51.53 million. The company operates in North America and Europe, focusing on the automated buying and selling of digital advertising space.

Verve Group SE's recent guidance increase to €400 million - €420 million for 2024 underscores its robust growth trajectory. The company's R&D expenses, which have consistently been around 12.9% of revenue, highlight a strong commitment to innovation in digital media and ad technology. Following the Jun Group acquisition, Verve's demand-side capabilities have expanded significantly, contributing to a forecasted earnings growth of 20.5% annually over the next three years. With Alex Stil's appointment as Chief Commercial Officer and his extensive experience with high-profile clients like Unilever and Google, Verve is well-positioned for further market penetration and client satisfaction enhancements.

• Click here to discover the nuances of Verve Group with our detailed analytical health report.

• Gain insights into Verve Group's historical performance by reviewing our past performance report.

Turning Ideas Into Actions

• Access the full spectrum of 48 German High Growth Tech and AI Stocks by clicking on this link.
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Want To Explore Some Alternatives?

• 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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