Over the last 7 days, the Canadian market has risen by 1.0%, and over the past 12 months, it is up by an impressive 27%, with earnings forecasted to grow by 16% annually. In this thriving environment, identifying high-growth tech stocks involves looking for companies that show strong potential for innovation and expansion within Canada’s dynamic technology sector.
Let’s uncover some gems from our specialized screener.
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Computer Modelling Group Ltd. is a software and consulting technology company focused on developing and licensing reservoir simulation and seismic interpretation software, with a market cap of CA$984.21 million.
Operations: The company generates revenue primarily from developing and licensing reservoir simulation and seismic interpretation software, totaling CA$90.29 million. The business model emphasizes software development and consulting services within the energy sector.
Computer Modelling Group Ltd. (CMG) is navigating the high-tech landscape with strategic initiatives that underscore its commitment to growth and innovation, particularly in the carbon capture and storage (CCS) sector. Recently, CMG launched Focus CCS, a simulation tool enhancing CO2 storage site selection efficiency—a critical step towards achieving net-zero targets globally. This product release aligns with a 23.5% expected annual earnings growth over three years, significantly outpacing the Canadian market average of 15.7%. Despite these advancements, CMG’s profit margins dipped to 19.7% from last year’s 29.2%, reflecting some operational challenges amidst expansion efforts. Moreover, their inclusion in the S&P Global BMI Index underscores recognition of their market influence and potential for further growth within tech sectors focused on sustainability solutions.
TSX:CMG Earnings and Revenue Growth as at Oct 2024
Simply Wall St Growth Rating: ★★★★★☆
Overview: Docebo Inc. is a company that offers an AI-powered learning management software platform, serving clients in North America and globally, with a market cap of CA$1.92 billion.
Operations: The company generates revenue primarily from its educational software segment, which brought in $200.24 million. It operates within the learning management software industry, leveraging AI technology to enhance its platform offerings for clients across various regions.
Docebo’s strategic positioning in the AI-enhanced learning sector is underscored by its recent role as the business learning partner at TEDAI Vienna, spotlighting its influence on AI-driven educational technologies. This aligns with an impressive 34% forecasted annual earnings growth, outpacing the broader Canadian market’s 15.7%. Furthermore, Docebo has effectively leveraged R&D to pivot towards high-demand areas, committing significant resources that reflect in a robust revenue projection increase of 14.6% annually. These developments not only highlight Docebo’s adaptability but also its proactive stance in capitalizing on emergent tech trends to solidify its market position.
TSX:DCBO Revenue and Expenses Breakdown as at Oct 2024
Simply Wall St Growth Rating: ★★★★★☆
Overview: HIVE Digital Technologies Ltd. is involved in the mining and sale of digital currencies across Canada, Sweden, and Iceland, with a market cap of CA$621.20 million.
Operations: HIVE Digital Technologies Ltd. focuses on generating revenue through the mining and sale of digital currencies, reporting CA$123.14 million in this segment.
Amidst a dynamic landscape, HIVE Digital Technologies Ltd. underscores its strategic agility with a robust 49.3% forecasted annual revenue growth, outstripping the broader Canadian market’s expansion of 7.2%. The company’s recent operational enhancements, including the mining of 112 Bitcoin in September and an average daily production rate of 3.73 BTC, reflect its operational efficiency and adaptability to market changes such as the Bitcoin Halving event. Moreover, HIVE is navigating forward with strategic capital maneuvers like a $200 million follow-on equity offering aimed at fueling potential acquisitions and bolstering corporate reserves. This blend of technological advancement and proactive financial strategies positions HIVE uniquely within high-tech spheres, even as it pivots towards profitability with an anticipated earnings growth of 94% per annum over the next three years.
TSXV:HIVE Earnings and Revenue Growth as at Oct 2024
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.
Companies discussed in this article include TSX:CMG TSX:DCBO and TSXV:HIVE.
