Exploring 3 High Growth Tech Stocks in Australia

Over the last 7 days, the Australian market has dropped 1.7%, driven by a decline of 5.4% in the Materials sector, although it remains up 10% over the past year with earnings expected to grow by 12% per annum over the next few years. In this context, identifying high-growth tech stocks that can outperform despite short-term market fluctuations is crucial for investors seeking robust long-term returns.

Top 10 High Growth Tech Companies In Australia

Click here to see the full list of 62 stocks from our ASX High Growth Tech and AI Stocks screener.

Underneath we present a selection of stocks filtered out by our screen.

Simply Wall St Growth Rating: ★★★★★☆

Overview: Opthea Limited is a clinical-stage biopharmaceutical company focused on developing and commercializing drugs for eye diseases in Australia and the United States, with a market cap of A$750.97 million.

Operations: Opthea Limited generates revenue primarily from its medical technology and healthcare segment, amounting to $0.26 million. The company is engaged in the development and commercialization of drugs targeting eye diseases within Australia and the United States.

Opthea’s strategic focus on wet AMD treatments, particularly sozinibercept, is bolstered by robust R&D investments. With revenue projected to grow at 51.6% annually and earnings expected to surge by 61.1% per year, the company is positioning itself for significant future gains. Recent executive changes aim to leverage extensive industry expertise, enhancing commercial and clinical operations. Despite a net loss of $220.24 million in FY2024, Opthea’s commitment to innovation and market expansion reflects its high-growth potential within Australia’s tech landscape.

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Pro Medicus Limited is a healthcare informatics company that develops and supplies imaging software and radiology information system (RIS) software and services to hospitals, imaging centers, and healthcare groups in Australia, North America, and Europe, with a market cap of A$16.59 billion.

Operations: The company generates revenue primarily from producing integrated software applications for the healthcare industry, amounting to A$161.50 million. The business focuses on providing imaging and radiology information system (RIS) software across multiple regions, including Australia, North America, and Europe.

Pro Medicus, a prominent player in the healthcare technology sector, has demonstrated impressive financial performance with earnings growth of 36.5% over the past year, significantly outpacing the Healthcare Services industry’s 13.9%. The company’s revenue is forecasted to grow at 16.8% annually, while earnings are expected to increase by 18.7% per year—both figures surpassing Australian market averages. Notably, Pro Medicus reported sales of AUD $161.5 million for FY2024 and net income of AUD $82.79 million, reflecting strong operational efficiency and robust market demand for its innovative medical imaging solutions.

Simply Wall St Growth Rating: ★★★★★☆

Overview: WiseTech Global Limited develops and provides software solutions for the logistics execution industry across various regions, with a market cap of A$42.42 billion.

Operations: WiseTech Global Limited focuses on delivering software solutions to the logistics execution industry across multiple regions, generating A$1.04 billion in revenue from its Internet Software & Services segment. The company’s business model revolves around providing innovative technology that enhances efficiency and visibility in logistics operations globally.

WiseTech Global has shown impressive earnings growth of 23.8% over the past year, significantly outpacing the Software industry’s 6.8%. The company reported revenue of AUD $1.04 billion for FY2024, up from AUD $816.8 million a year ago, and net income rose to AUD $262.8 million from AUD $212.2 million in the same period. With R&D expenses contributing to innovative logistics software solutions, WiseTech is poised for continued expansion in a market increasingly favoring SaaS models for recurring revenue streams.

Turning Ideas Into Actions

Curious About Other Options?

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 [email protected]