The market was flat last week, but is up 23% over the past year, with earnings estimates rising 15% annually. In this context, it can be a strategic move for investors to identify high-growth technology stocks that have great potential and fit well with these positive trends.

The 10 fastest growing technology companies in the USA

Click here to see the full list of 249 stocks from our high-growth US tech and AI stocks screener.

Let’s go through some notable picks from our reviewed stocks.

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Exact Sciences Corporation provides cancer screening and diagnostic testing products in the United States and internationally and has a market capitalization of $11.06 billion.

Operations: The company’s main source of revenue is its biotechnology division, which generates $2.61 billion. Exact Sciences focuses on cancer screening and diagnostic testing in various markets.

Exact Sciences, a leading player in cancer diagnostics, has reported significant progress in its Multi-Cancer Early Detection (MCED) Falcon Registry study. The company’s second quarter 2024 earnings showed a significant improvement, with revenue increasing to $699.26 million from $622.09 million a year ago and net loss narrowing to $15.81 million from $81.03 million. With R&D spending focused on innovative solutions such as the MCED test and strategic partnerships such as the TwinStrand Biosciences licensing agreement, Exact Sciences is poised for future growth in the precision oncology and cancer screening markets.

Simply Wall St Growth Rating: ★★★★☆☆

Overview: ExlService Holdings, Inc. is a U.S. and international data analytics and digital operations solutions company with a market capitalization of approximately $5.87 billion.

Operations: ExlService Holdings generates its revenue from four main segments: Analytics ($749.61 million), Insurance ($569.90 million), Healthcare ($106.48 million) and New Business ($283.91 million).

ExlService Holdings has shown robust growth. Earnings are expected to grow 16% annually, outpacing the U.S. market at 15.2%. The company’s revenue is expected to grow 11.3% annually, outpacing the overall market at 8.8%. Notably, ExlService has repurchased $133.82 million worth of shares in recent months and raised its 2024 revenue forecast to $1.805 billion to $1.830 billion, representing up to 12% year-over-year growth.

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Novanta Inc., together with its subsidiaries, provides precision medicine and manufacturing, medical solutions, and robotics and automation solutions worldwide and has a market capitalization of $6.55 billion.

Operations: Novanta generates its revenue primarily from three segments: Medical Solutions ($371.24 million), Robotics and Automation ($260.32 million), and Precision Medicine and Manufacturing ($268.30 million). The company operates internationally and focuses on advanced technology solutions for various industries.

Novanta’s revenue is expected to grow 11.6% annually, outperforming the US market at 8.8%. Despite a recent drop in profits of 19.1%, profits are expected to grow significantly by 35.5% per year going forward, reflecting the strong growth potential in the technology sector. The company has invested significantly in research and development, spending $42 million last year, underscoring its commitment to innovation and maintaining a competitive advantage within the industry.

Summarize everything

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This Simply Wall St article is of a general nature. We comment solely on historical data and analyst forecasts, using an unbiased methodology. Our articles do not constitute financial advice. It is not a recommendation to buy or sell any stock and does not take into account your objectives or financial situation. Our goal is to provide you with long-term analysis based on fundamental data. Note that our analysis may not take into account the latest price-sensitive company announcements or qualitative materials. Simply Wall St does not hold any of the stocks mentioned.

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