High Growth Tech Stocks to Watch in December 2024

As global markets continue to reach record highs, with small-cap indices like the Russell 2000 joining their larger counterparts in this upward momentum, investor sentiment is being shaped by a mix of domestic policy changes and geopolitical developments. In such a dynamic environment, identifying high-growth tech stocks involves looking for companies that can adapt to shifting economic landscapes and leverage technological advancements to sustain their growth trajectory.

Top 10 High Growth Tech Companies

Name	Revenue Growth	Earnings Growth	Growth Rating
Yggdrazil Group	30.20%	87.10%	★★★★★★
Ascelia Pharma	76.15%	47.16%	★★★★★★
Waystream Holding	22.09%	113.25%	★★★★★★
Pharma Mar	28.04%	56.19%	★★★★★★
Alnylam Pharmaceuticals	22.35%	70.33%	★★★★★★
TG Therapeutics	34.66%	56.98%	★★★★★★
Elliptic Laboratories	70.09%	111.37%	★★★★★★
Alkami Technology	21.89%	98.60%	★★★★★★
Travere Therapeutics	31.70%	72.51%	★★★★★★
Initiator Pharma	73.95%	31.67%	★★★★★★

Click here to see the full list of 1284 stocks from our High Growth Tech and AI Stocks screener.

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

Bittium Oyj (HLSE:BITTI)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Bittium Oyj offers communications and connectivity solutions, healthcare technology products and services, and biosignal measuring and monitoring across Finland, Germany, and the United States with a market capitalization of €251.24 million.

Operations: The company generates revenue through its diverse offerings in communications and connectivity solutions, healthcare technology products, and biosignal measuring and monitoring services. It operates primarily in Finland, Germany, and the United States. The focus on specialized technology solutions supports its business model across these regions.

Bittium Oyj's recent performance and projections suggest a turnaround, with sales rising from EUR 49.5 million to EUR 52 million in nine months and a shift from a net loss of EUR 6 million last year to a net income of EUR 1.7 million this year. This improvement is underpinned by significant R&D investment, aligning with an industry trend where tech firms intensify innovation efforts to stay competitive. The company's revenue growth forecast at 11.6% annually outpaces the Finnish market's 2.6%, reflecting its recovery trajectory and potential in high-tech sectors despite not being the fastest-growing in its category. Moreover, expected earnings growth at an impressive rate of 40.1% annually indicates robust future prospects, supported by strategic expansions and operational enhancements that could further solidify Bittium's market position.

• Click here to discover the nuances of Bittium Oyj with our detailed analytical health report.

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

Anhui Ronds Science & Technology (SHSE:688768)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Anhui Ronds Science & Technology Incorporated Company specializes in providing solutions for machinery condition monitoring within the predictive maintenance sector in China, with a market capitalization of CN¥2.96 billion.

Operations: Ronds focuses on machinery condition monitoring solutions within China's predictive maintenance industry. The company operates with a market capitalization of approximately CN¥2.96 billion, emphasizing its role in enhancing equipment reliability and operational efficiency.

Anhui Ronds Science & Technology has demonstrated a notable turnaround, with its revenue climbing to CNY 342.74 million from CNY 299.94 million year-over-year, and shifting from a net loss of CNY 16.37 million to a net income of CNY 2.72 million. This growth is propelled by robust R&D investments, which are crucial as the company's earnings are expected to surge by an impressive 30.8% annually over the next three years, outpacing the Chinese market's projection of 26.1%. Additionally, recent strategic moves like the issuance of over 5.8 million shares have bolstered their financial position, enabling further innovation and expansion in high-tech sectors where dynamic client needs drive technological advancements.

• Unlock comprehensive insights into our analysis of Anhui Ronds Science & Technology stock in this health report.

• Gain insights into Anhui Ronds Science & Technology's historical performance by reviewing our past performance 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 capitalization of €855.48 million.

Operations: The company generates revenue primarily from its Drug Delivery Systems segment, which contributes €60.80 million.

Formycon AG, a key figure in the biotechnology sector, is steering significant growth with a projected revenue increase of 33.4% annually, outpacing the German market's average of 5.7%. This surge is underpinned by robust R&D efforts, which have not only fueled a 32.3% expected annual profit growth but also positioned the company ahead of Germany’s broader market forecast of 20.8%. Recent FDA approval for its biosimilar product further solidifies Formycon's strategic advancements in healthcare solutions, promising to enhance its competitive edge and market presence significantly.

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

• Learn about Formycon's historical performance.

Key Takeaways

• Navigate through the entire inventory of 1284 High Growth Tech and AI Stocks here.
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Ready To Venture Into Other Investment Styles?

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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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