I think Australian investors are a lucky bunch when it comes to growth shares.
In my opinion, the local market has a plethora of quality growth shares of all sizes that investors could snap up today.
Three at the small end of the market that I like are listed below. Here's why I think they are worth a closer look:
ELMO Software Ltd (ASX: ELO)
I think that this cashed up and debt free tech company could be one of the best options in the small cap space right now. The cloud-based talent management software solutions provider has been experiencing strong demand for its services over the last 12 months, leading to a sizeable increase in its profits. This puts it on course to achieve total revenue of $31.2 million and EBITDA of $5.7 million in FY 2018, up significantly year-on-year.
Gentrack Group Ltd (ASX: GTK)
I'm a big fan of this New Zealand-based billing and customer management software provider. Its software continues to grow in popularity in the airports, water, and electricity industries, with approximately 80 utilities and 110 airports using it globally. This strong demand has led to impressive growth in its recurring revenues. In FY 2017 recurring revenues grew 43% to NZ$42.8 million, accounting for almost two-thirds of its revenue.
Hub24 Ltd (ASX: HUB)
HUB24 is a fast-growing investment and superannuation platform provider which continues to impress. Last week the company reported a $595 million increase in net inflows onto its platform during the March quarter. This brought the total funds under administration on its platform to a massive $7.4 billion. Furthermore, based on the latest available data, HUB24 captured 13.9% of all net inflows in the December quarter, increasing its market share from 0.7% to 0.8% of total FUA. Due to the quality of its software, I expect more of the same over the next quarter and beyond.
