- Deloitte Canada has unveiled the winning stocks under its 2023 Technology Fast 50 program
- Winners represent some of the fastest-growing technology, media and telecommunications companies by revenue-growth percentage over the past 3-4 years
- This year’s recipients include Electrovaya, Thinkific Labs and Good Natured Products
Deloitte Canada has unveiled the winning stocks under its 2023 Technology Fast 50 program, which highlights Canada’s fastest-growing technology, media and telecommunications companies by revenue-growth percentage over the past 3-4 years.
The Technology Fast 50 program, now in its 26th year, recognizes companies through five distinct categories: Technology Fast 50 ranking, Enterprise-Industry Leaders, Clean Technology, Companies to Watch, and the North American Technology Fast 500 ranking, which singles out companies finding success in Canada and the United States.
Eligibility criteria to place on the Technology Fast 50 ranking favours companies driving Canadian innovation and entrepreneurship through proprietary technology. Select criteria include investing a minimum of 5 per cent of gross revenues in R&D in 2022, generating a majority of operating revenue through proprietary technology and/or intellectual property, and the ability to prove minimum revenue of $50,000 in 2019 and $5 million in 2022.
Winning stocks under the Technology Fast 50 program include:
- Electrovaya (TSX:ELVA), a lithium-ion battery technology and manufacturing company active in energy storage and clean electric transportation, among other specialized applications (Clean Technology)
- Hydreight Technologies (TSXV:NURS), a mobile clinical network and medical platform facilitating flexible at-home medical services across all 50 U.S. states (Companies to Watch)
- Thinkific Labs (TSX:THNC), a platform for creating, marketing and selling online learning products (Enterprise-Industry Leaders)
- Tribe Property Technologies (TSXV:TRBE), which provides technology-enabled property management solutions (Fast 50)
- Propel Holdings (TSX:PRL), a fintech company enabling access to credit for consumers underserved by the traditional financial system (North American Technology Fast 500)
- Good Natured Products (TSXV:GDNP), a manufacturer of over 400 plant-based products (Clean Technology)
- Lightspeed Commerce (TSX:LSPD), a one-stop commerce platform where users can process payments, engage with customers and grow their businesses (Enterprise-Industry Leaders)
Click here to view the full list of Technology Fast 50 winners for 2023.
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