NEXTDC takes pole position in Deloitte Australian Technology Fast 50
- 14 November, 2014 09:20
NextDC's Craig Scroggie.
NEXTDC has been named the fastest growing Technology Fast 50 company in Australia, according to the Deloitte 2014 index.
The datacentre operator notched up an incredible 3626 per cent revenue growth.
Leader of Deloitte’s Technology Fast 50 Program, Joshua Tanchel, said, "This year’s winner is a standout. Almost doubling last year’s revenue growth, NEXTDC is already one of Australia’s fastest growing designers, developers and operators of a network of datacentres.”
He said the percentage revenue growth was calculated over three years (2012 to 2014) and has to reach cumulative revenue of $8m over that period. The numbers are also cross-checked and verified by the entrants’ accountants or a registered auditor.
Tanchel said the average cumulative growth of this year's winners is 351 per cent, up from 222 per cent in 2013.
“The total revenue of the Tech Fast50 index this year is an impressive $1.8 billion vs. $1.7 billion in 2013,” he said.
Other ICT companies in the Top 10 were: R1i Pty Ltd (5th, 599 per cent), Kloud Solutions Group (7th, 461 per cent), Outware Mobile (8th, 420 per cent), and Atomic 212 (9th, 403 per cent). The remainder of companies in the top 10 came from the Internet sector.
One of Australia’s largest online forex brokers and last year’s Rising Star winner, Pepperstone, was this year’s Leadership Award winner (1098%). And health.com.au was named Rising Star with 8873 per cent growth over a period of two years 11 months, a strict one month short of the three-year eligibility criterion for the full Tech Fast 50 list.
Tanchel said the winners list demonstrated the rise of the internet and the importance of both software and Cloud technology solution providers.
“The opportunity to accelerate convenience, cost management and accessibility to all regardless of size continues to encourage new and innovative entrants to create brand new niches as well as disrupt existing markets,” he said.
As testament to the importance of the sector, this year’s sponsor, Australian Securities Exchange CEO, Elmer Funke Kupper, said: “Given the strength of competition in the ICT industry in Australia and the rapid increase in the number of emerging high-growth companies, there is little doubt the companies on the Deloitte Technology Fast 50 list this year are among the best in their field.”
Funke Kupper said: “The listed technology sector in Australia has a strong history. Companies such as Seek, REA Group and Carsales.com have achieved strong success and are world leaders in their respective fields. Their leaders have been determined advocates for the sector and for the growth that can be achieved by technology companies in Australia.”
He said more recently the listed technology sector in Australia had experienced further success with the IPOs of OzForex, Freelancer, iSentia, Gentrack, Vista and 3P Learning. “The combined market capitalisation of listings in the sector during 2013/2014 was more than $2 billion,” Funke Kupper said.
“When you add these names to previous winners of the Tech Fast 50, including online retailer Kogan, SaaS provider Atlassian and online foreign exchange company Pepperstone, a picture emerges of a significant and maturing technology sector in Australia,” Tanchel said.
Wholesale telecommunications provider, Vocus Communications Limited, which came 39th this year is a five times Deloitte Technology Fast50 winner.
CEO James Spenceley said the secret to his company’s success was ‘agility, a culture of challenging the status quo, and hiring great staff.’
Deloitte Private National Managing Partner, David Hill, said, “Deloitte is committed to fostering the emerging leaders of the tech industry, helping them to connect with key players across the start-up ecosystem, and assisting these innovative and committed companies take their growth plans to the next level. It is great the ASX has been so supportive of these initiatives.”
The Leadership awards are in honour of the Technology Fast 50 winning companies that have achieved revenues in excess of $50 million this financial year. Hill said: “To achieve $50 million in revenue is significant. To achieve revenue growth of the magnitude required to make this year’s Technology Fast 50 winners list is awesome.”
The nine companies awarded are: Pepperstone, DEALS.com.au, amaysim, Observatory Crest, InfoTrack, Domino's Pizza Enterprises, Vocus Communications, Tyro Payments and Appen Holdings.
Technology Fast 50 also recognised high-growth nominating companies with less than three year’s existing revenue data.
Tanchel said, “While there are many deserving companies out there, the 12 rising stars Deloitte selected this year are drawn from across Australia, with the top five growing by just over 1000 per cent to almost 9000 per cent by delivering services through the Internet, or in the communications and software sectors.”
This year's rising stars are: health.com.au, Cirrus networks, Smart business Telcom, ASPIRE Advisor Network, bellabox, PlantMiner.com.au, Benchmarketing, OpenAgent, Healthshare, ingogo, HealthEngine, Squixa.