The Canada-listed, fast growing tech stocks on our list have posted large growth over the past four quarters
SmallCapPower | June 19, 2019: Technology companies tend to spark investor interest as they are trendy and are the drivers of innovation in modern society. These companies are often characterized by rapid growth with the potential for big investor upside. Today we have discovered four fast growing tech stocks trading in Canada that have realized large growth over the past four quarters. We used compounded average quarterly growth rate (CQGR) as our metric, which looks at the growth rate of the past four quarters as a compounded average.
*Share prices as at close Monday, June 17, 2019, data obtained from S&P Capital IQ
Blackline Safety Corp (TSXV:BLN) – $5.75
Communications Equipment
Blackline Safety Corporation is a global connected safety technology company that looks to become the leading supplier of wirelessly connected gas detection and employee monitoring products in the world. Blackline’s products immediately notify monitoring personnel of safety incidents, including detected gases and potential no-motion or fall-detected alarms, and pinpoints employees’ locations on an interactive map. Its major products include G7c, G7x, G7 Cartridges, G7 Dock, Loner Mobile, Loner M6, and Loner Duo.
- Market Cap: $273.6M
- YTD Return: 21.7%
- Average 90 Day Trading Volume: 30,000
- Compounded Average Quarterly Growth Rate: 14%
- Last Reported Quarterly Revenues (Q1/19): $6.2M
Quarterhill Inc (TSX:QTRH) – $1.50
Communications Equipment
Quarterhill is focused on the disciplined acquisition, management, and growth of companies in dedicated technology areas, including vertical market software & solutions, intelligent industrial systems, and innovation & licensing. Quarterhill puts an emphasis on seeking out acquisition opportunities at reasonable valuations that provide a foundation for recurring revenues, predictable cash flows, profitable growth, and dedicated management teams. On June 17, Quarterhill Inc announced that Shaun McEwan, Chief Financial Officer, will transition out of the Company in the coming months to spend time with his family. As a result, the Board has engaged in leading executive search firm and commenced a process to recruit a new Chief Financial Officer.
- Market Cap: $178.2M
- YTD Return: 7.1%
- Average 90 Day Trading Volume: 90,000
- Compounded Average Quarterly Growth Rate: 19%
- Last Reported Quarterly Revenues (Q1/19): $39.8M
VersaPay Corp (TSXV:VPY) – $1.45
Data Processing
VersaPay Corporation provides cloud-based invoicing, accounts receivable management, and payment solutions for businesses in Canada and the United States. The Company’s flagship accounts receivable network makes it easier for enterprises to create and deliver invoices, and to receive and reconcile payments back to an accounting system. On June 5, VersaPay announced that it has signed an agreement with an undisclosed billion-dollar drainage enterprise, which will use its accounts receivable conversion to support its invoice-to-cash process.
- Market Cap: $62.8M
- YTD Return: 19.8%
- Average 90 Day Trading Volume: 70,000
- Compounded Average Quarterly Growth Rate: 16%
- Last Reported Quarterly Revenues (Q1/19): $1.9M
POET Technologies (TSXV:PTK) – $0.38
Semiconductors
POET Technologies designs, manufactures, and sells semiconductor products in the United States, Canada, and Singapore. It offers optical light source products and photonic-integrated devices for the sensing, telecommunications, medical, instrumentation, industrial, and security markets. POET has a unique manufacturing strategy, whereby applying advanced wafer-level semiconductor manufacturing techniques and novel packaging methods, POET eliminates costly components and assembly testing methods employed in conventional photonics solutions. In addition to lowering costs relative to conventional devices, POET’s Optical Interposer provides a flexible and scalable platform for a variety of photonics applications, ranging from data centers to consumer products.
- Market Cap: $109.5M
- YTD Return: 35.7%
- Average 90 Day Trading Volume: 180,000
- Compounded Average Quarterly Growth Rate: 25%
- Last Reported Quarterly Revenues (Q4/18): $1.4M
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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