Amid a backdrop of softening labor markets and potential interest rate cuts in both the U.S. and Canada, investors are navigating a seasonally volatile period with heightened uncertainty. In this environment, identifying high-growth tech stocks in Canada that exhibit strong fundamentals and resilience becomes crucial for long-term portfolio strength.
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% | ★★★★★☆ |
| Wishpond Technologies | 12.72% | 113.87% | ★★★★☆☆ |
| HIVE Digital Technologies | 54.20% | 100.27% | ★★★★★☆ |
| GameSquare Holdings | 38.08% | 86.64% | ★★★★★☆ |
| Medicenna Therapeutics | 62.37% | 57.20% | ★★★★★☆ |
| Cineplex | 7.33% | 179.27% | ★★★★☆☆ |
| Sabio Holdings | 12.97% | 122.50% | ★★★★☆☆ |
| BlackBerry | 20.61% | 76.74% | ★★★★★☆ |
| 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.
We’re going to check out a few of the best picks from our screener tool.
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Cineplex Inc., together with its subsidiaries, operates as an entertainment and media company in Canada and internationally, with a market cap of CA$672.51 million.
Operations: Cineplex generates revenue primarily from three segments: Media (CA$120.16 million), Location-Based Entertainment (CA$132.08 million), and Film Entertainment and Content (CA$1.05 billion).
Cineplex, despite recent financial challenges, is forecasted to grow its revenue by 7.3% annually, outpacing the Canadian market’s 6.7%. Earnings are expected to surge by an impressive 179.27% per year over the next three years as it transitions to profitability. Recent initiatives include a share repurchase program for up to 6.32 million shares, indicating confidence in future performance and potentially boosting shareholder value amidst industry recovery trends post-pandemic.
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Stingray Group Inc. operates as a music, media, and technology company worldwide with a market cap of CA$504.96 million.
Operations: Stingray Group Inc. generates revenue primarily from its Radio segment (CA$154.41 million) and Broadcasting and Commercial Music segment (CA$201.10 million). The company focuses on leveraging its music, media, and technology assets to serve a global audience.
Stingray Group, with its diverse offerings in music and video content, reported Q1 2024 sales of CAD 89.07 million, a 12.77% increase from the previous year. Despite a net income decrease to CAD 7.3 million from CAD 14.12 million, the company’s strategic expansion into FAST channels on The Roku Channel and partnerships like Samsung VXT highlight its innovative edge in digital media services. With R&D expenses at approximately $2 million annually, Stingray continues to invest in enhancing user experiences across multiple platforms while repurchasing 737,200 shares for CAD 4.57 million demonstrates confidence in its growth trajectory.
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Vitalhub Corp. offers technology solutions for health and human service providers across various regions including Canada, the United States, the United Kingdom, Australia, and Western Asia with a market cap of CA$391.57 million.
Operations: Vitalhub Corp. generates revenue primarily from its healthcare software segment, which reported CA$58.32 million in revenue. The company’s market cap stands at CA$391.57 million.
Vitalhub’s recent performance showcases a dynamic growth trajectory, with Q2 2024 revenue reaching CAD 16.24 million, up from CAD 13.09 million the previous year. Despite a net loss of CAD 0.34 million compared to last year’s net income of CAD 0.62 million, the company’s earnings are projected to grow at an impressive annual rate of 65.9%. Vitalhub’s R&D expenses reflect its commitment to innovation, contributing significantly to its competitive edge in healthcare software solutions.
Where To Now?
- Click this link to deep-dive into the 23 companies within our TSX High Growth Tech and AI Stocks screener.
- Hold shares in these firms? Setup your portfolio in Simply Wall St to seamlessly track your investments and receive personalized updates on your portfolio’s performance.
- Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide.
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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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