There is no more significant a sign of business prosperity than increasing revenue and headcount. While cool offices and sweet perks are certainly factors when considering a career change, working with thriving ASX-listed tech companies is quite a tempting prospect.
At The Martec, we talk a lot about the new kids on the block – the Aussie startups and new tech companies that may be making a big splash at any one moment. But now we feel it’s time to shift the limelight onto the more established operators – the top ASX companies in Australian tech.
Achieving a listing on the Australian Securities Exchange is no easy feat. Taking a business from the startup stage right through to making it a publicly listed company is a gruelling process; you need to generate growth, scale the business and find enough support to float it, and once you make it you’ll continually be required to prove to shareholders that their investment is performing.
These ASX tech companies have managed to do just that, and have continued to expand both their revenue and their headcount throughout the process. So, based on their incredible growth and in no particular order, here are the top 25 ASX tech companies where the finest employment opportunities lie.
Australia’s top ASX-listed tech companies:
ELMO (ELO) provides innovative HR cloud technology to over two million users across the Asia Pacific region. They offer a suite of integrated talent management solutions and a comprehensive and editable course library, designed to automate and streamline all HR processes. Founded in 2002, ELMO has become the fastest growing HR & Payroll Tech company in the region, and listed on the ASX in 2017. In early 2018 their share price reached an all-time high, reflecting the growing investor confidence in the company. Internally ELMO has grown its headcount by 32 percent in the past 12 months.
The Carsales.com Ltd (CAR) journey began in 1997, as its founders looked for a new way to sell cars and give users valuable automotive information online. Today they are an ASX top 100 company and the largest online automotive, motorcycle and marine classifieds business in Australia. They have a team of over 800 and are continuing to expand on our shores, as well as across Latin America and Asia. This year they announced record results, with revenue up 12 percent to $200.1 million. On the staffing front, they have seen an increase in headcount of 11 percent in the year just gone.
Link Group (LNK) are a market-leading provider of technology-enabled administration solutions. They administer financial ownership data and drive user engagement, analysis and insight with their technology. Their core businesses – fund administration and securities registration – are complemented by their expertise in digital solutions and data analytics. Recently Link Group delivered strong first half results for 2018 which reflected their continued commitment to their client partnerships and delivery of their growth strategy. Their revenue is up 27 percent from the same period last year, and now sits at $503.3 million. Their headcount has increased 10 percent in the past 12 months.
REA Group (REA) operates Australia’s most popular residential and commercial property websites (realestate.com.au and realcommercial.com.au), as well as the leading property sites in Asia, and many other property sites and apps internationally. They listed on the ASX in 1999 and today are an S&P/ASX 200 company. REA Group has enjoyed revenue growth of 20 percent in the first nine months of the 2017/18 financial year, totalling $592 million. Internally the teams have grown consistently for the past few years, including a headcount increase of six percent in the past 12 months.
Afterpay Touch (APT) is the amalgamation of Afterpay and Touchcorp, who came together in 2017 to leverage each other’s strengths and potentially dominate in two key markets: Pay Later, (Afterpay) and Pay Now (Touch). Afterpay is a simple payment process which allows shoppers to buy their product today and pay it off in 4 equal fortnightly instalments. Afterpay now represents over 25 percent of all Australian domestic apparel online sales and over 8 percent of all online physical retail sales, with more and more of their key brands now actively adopting Afterpay in-store. They’ve also experienced astronomical growth, increasing their headcount by 49 percent in the past year.
Founded in 1996, Appen (APX) is a platform incorporating a team of over one million flex workers who are able to help clients enhance their products and services worldwide. They operate in over 130 countries and work in more than 180 languages and dialects. Their capabilities include search engine optimisation, social media marketing, voice recognition system development, sentiment analysis, and eCommerce assistance. In 2013 they listed on the ASX and in their 2017 financial report they announced revenues of $166.6 million, up 50 percent from the previous year. Headcount has also grown by 18 percent in the past year.
OFX (OFX) is a global provider of online international payment services for both individuals and businesses. This homegrown company was created to give people a better deal when it came to the international transfer of money. Today they power the international money transfer services of some of the largest financial institutions in the world, and have offices in Sydney, Toronto, San Francisco, London, Hong Kong and Auckland. In their full-year financial report the company announced a 9.5 percent increase in turnover from FY17, to reach $21.2 billion. Headcount has also continued to increase steadily over previous years with new hires up seven percent this year and 24 percent in the past two years.
Bravura Solutions (BVS) provides software solutions for the wealth management, life insurance and fund administration industries. The company has over 30 years experience in installing systems and hosting managed application services that are mission-critical to some of the world’s leading financial institutions. They have a team of over 1000 people in 12 offices across the globe. Bravura’s 1H18 Financial Results show group revenue is up 10 percent to $102.9 million. Also on the up were new hires, which increased by seven percent in the past year.
Nuheara (NUH) is a global leader in hearing intelligence, creating smart personal hearing devices that enhance and amplify the human listening experience They have developed proprietary and multi-functional intelligent hearing technology that augments a person’s hearing, and facilitates cable-free connection to smart devices. In 2016, they released their IQbuds™, which allow consumers to augment their hearing according to their personal hearing preferences through a smartphone or tablet. Earlier this year Nuheara saw their share price skyrocket after they announced they had successfully registered as an approved supplier to the Australian Government’s Hearing Services Program (HSP). Hiring has also exploded in the past year, with the company adding 57 percent to their headcount.
Webjet Limited (WEB) is a digital travel business which spans both the global consumer (B2C) and wholesale (B2B) markets. Launched in 1998, Webjet is today the leading online travel agency in Australia and New Zealand. Their service enables customers to compare, combine and book the best domestic and international travel flight deals, hotel accommodation, holiday package deals, travel insurance and car hire worldwide. In their results for the six months to 31 December 2017, Webjet announced a (rather incredible) 290 percent revenue increase totalling $359.8 million, with net profit up 25 percent in the same period. They’ve also seen headcount growth of eight percent in the past 12 months.
Megaport (MP1) is a global leader in software-defined networking (SDN). Established in 2013, they were the first to build an SDN-based elastic interconnection platform designed to provide the most secure, seamless and on-demand way for enterprises, networks, and services to interconnect. The platform today allows customers to connect their network to other services across the Megaport network, which can then be directly controlled via mobile device, computer or open API. In their 3Q FY18 report Megaports revenue was $5.14 million, and they have added nine percent to their headcount in the previous 12 months.
ReadCloud (RCL) has created the world’s first social eLearning App specifically designed for schools. The app offers students and teachers a new way of learning, by turning the eBook into a place of discussion and collaboration, and which can be accessed on any computer or tablet. Founded in 2009, the company has just this year listed on the ASX thanks to $6 million of capital raising. The platform was used by 50 schools and 21,800 users in 2017 – a figure which they hope to double by the end of 2018. They will spend their newly found capital on further software development and additional staff, with an aim to target the 2700 secondary schools and 1.6 million full-time secondary schools students in Australia.
Xero (XRO) is making waves in the accounting sphere. Supplying seamless accounting and payroll software to small businesses, their products enable customers to see their cashflow in real-time with online accounting, invoicing, billing and banking. Xero launched in New Zealand in 2006, listed on the ASX in 2012 and has over 2000 staff across Australia, New Zealand, the UK, Asia and the US. Over the past 12 months they have increased staff by 11 percent, and delivered $406.5 million in revenue in the first nine months of this financial year, up 38 percent on the same period last year.
Computershare (CPU) is a transfer agency and share registration company which delivers market-leading solutions for high integrity data management, high volume transaction processing and reconciliations, payments and stakeholder engagement. Established in 1978, today Computershare has a business across five continents and works with some of the world’s leading organisations to streamline and maximise the value of relationships with their investors, employees, creditors and customers. In May 2018 Computershare announced the $560 million acquisition of Equatex, a leading European employee share plan administration business, marking a crucial step in their growth plans. In their 1H18 results they announced revenue of over $1.1 billion, up 10.8 percent on last year.
Domain Group (DHG) is a digital media and technology services business. The company provides the real estate industry with technology services and property advertising and media in digital and traditional forms. In 2017 the group separated from parent company Fairfax Media and listed on the ASX as a $2.2 billion company. Since then the business has experienced significant growth in digital revenues, and is making investments across the board with the aim of driving future earnings growth. The first results for the 1H18 report saw company revenue increase by 12.5 percent to $183.3 million. Headcount has also grown eight percent in the past 12 months.
MYOB (MYO) is a household name in Australian accounting. They revolutionised modern bookkeeping and have maintained a lead on the competition ever since their beginnings in 1991. Today they deliver software and services to more than one million businesses in Australia and New Zealand. MYOB listed on the ASX in 2015 and continues to keep shareholders happy with their commitment to growth and evolution. The company utilises developments in technology to build intelligent and intuitive tools with one goal – making life easier for the businesses they service. In the last two years they’ve seen steady headcount growth, increasing their numbers by seven percent in the past year.
IRESS (IRE) offers reliable software for the financial services industry. The company and its software facilitate global financial trading, manage investments, supply mortgages, and help clients to plan their financial future. While IRESS has been around since 1993, they have managed to stay at the leading edge of tech, with The Martec recently recognising them as one of the most innovative companies to come out of Melbourne. The company has recently acquired regtech and data analytics provider Lucsan, which looks as though it will seriously enhance their breadth of capabilities. In their full-year results to 31 December 2017 IRESS announced group revenue was up 10 percent to $430 million.
NEXTDC (NXT) is a Brisbane-based independent data centre operator. With Tier III and Tier IV facilities spread across five capital cities, the company boasts the largest data centre network in Australia. They offer enterprise-class data centre solutions and are host to Australia’s largest independent ecosystem of carriers, clouds, vendors and IT service providers. Founded and listed on the ASX in 2010, NEXTDC is now an ASX200-listed technology company with a market value of about $1.8 billion. They’ve seen steady headcount growth of 9 percent in the past year, and 1H18 Record Results showing revenue up 32 percent to $77.5 million.
TechnologyOne (TNE) is Australia’s largest enterprise software company. They launched in 1987 with a vision of creating the next generation of financial software for businesses and government departments. Today they are one of Australia’s top 200 ASX-listed companies, with offices across six countries. Over 1200 leading corporations, government departments and statutory authorities are powered by their software. Their recent half-yearly results revealed record revenue, record licence fees and continued strong growth in their cloud business. Revenue for the 1H18 reached $120 million, up 6 percent from the previous period.
WiseTech Global (WTC) is a developer and provider of software solutions to the logistics execution industry. Founded in 1994, they now boast over 7000 of the world’s logistics companies as customers, spread across 130 countries. The company is growing rapidly and this year it has acquired nine businesses (as of June) in Europe and the Americas. Their revenue has grown 31 percent in 1H18 from the previous period, and now sits at $93.4 million. As of June, WiseTech Global has also increased headcount by 70%.
Catapult (CAT) began life in 2006, focusing on elite wearables for the sports industry. Since then they have become a category leader in elite sports technology, largely thanks to some key acquisitions including Canberra-based GPSports in 2014, Ireland-based Playertek in 2016, as well as SportsMed Elite and Baseline in August 2017. In 2018 Catapult successfully raised $25 million via an institutional placement. Catapult currently has over 300 staff based across 16 countries worldwide, working with over 1500 elite teams from 35 different sports globally. Their recent 1H18 report shows group revenue up 31 percent to $32 million, while headcount has increased 22 percent in the last 12 months.
The LiveHire (LVH) Talent Ecosystem allows potential employees to privately connect with the brands that they’d love to work for. Launched in 2011 and listed on the ASX in 2016, LiveHire now has a talent community network of 538,000 connections. In their 1H18 report revenue is up by a sharp 173 percent to $844,900. The past year has also seen a significant headcount increase of 43 percent for the Melbourne-headquartered company, with 67 percent of those hires adding to their engineering capabilities.
Nearmap (NEA) captures, manages and delivers the most frequently-updated location content in the world, allowing businesses and governments to explore their environment easily. The solution helps users save time and money, reduce site visits and make better-informed decisions with current and clear imagery. The 1H18 report saw total revenue reach $24.7 million, up 27 percent on the corresponding period last year. During this half they also invested in their capture program, their expanded product suite and their sales and marketing capabilities. As a result headcount has almost doubled in the past two years.
Born in Melbourne, Redbubble Limited (RBL) is a leading global marketplace for independent artists. Their platform is used by over 400,000 artists globally, and the team in-office is just as eclectic as the users of the site. Passionate, imaginative, and somewhat offbeat individuals fill offices in Melbourne, San Francisco and Europe, and have managed to consistently grow revenues since 2006. In 2016 they listed on the ASX and continue to report strong growth. In their Quarterly Cash Flow Report for the quarter ending 31 March 2018, the company reported revenue of $141.2 million, up 28.3 percent from the previous period. Headcount is also up 10 percent on the previous year across art, engineering, marketing and communications.
RightCrowd (RCW) provide software products which add functional enhancements to existing physical access control systems. They converge physical security silos into enterprises through integration with ERP systems, such as SAP. Corporations set policies to meet regulatory and organisational mandates, and RightCrowd ensures compliance with these policies using real-time data integrated with the client’s physical security system. In late 2017, RightCrowd completed an initial IPO which raised $10 million of capital to support their global growth plans and R&D activities. Since then they have increased staff headcount by no less than 26 percent.