While most investors will now be fully aware of tech stars Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) after their earnings season heroics, I suspect they may be less familiar with the five small cap tech shares listed below.
Here's why I think they are worth watching:
Audinate Group Limited (ASX: AD8)
Audinate is a digital audio company that develops hardware and software solutions for the professional audio-visual industry. Its flagship product, Dante, allows users to easily set up even complex audio networks. In FY 2018 the company grew revenue by 30% to $19.7 million and achieved EBITDA of $0.6 million. The latter compares to its prospectus forecast for a loss of $1.2 million.
Citadel Group Ltd (ASX: CGL)
Citadel Group is a fast-growing software and services company which specialises in IT security and data management. Citadel delivered record revenues of $108.5 million and a 26% increase in net profit after tax to $19.4 million in FY 2018 thanks partly to the growing popularity of its Citadel-IX cloud-based enterprise information management platform.
ELMO Software Ltd (ASX: ELO)
ELMO Software is a leading provider of integrated cloud human resources and payroll software solutions. In FY 2018 ELMO achieved pro forma revenue of $31.9 million and pro forma SaaS revenue of $29.8 million. This beat management's upgraded guidance and meant growth of 36.4% and 37.2%, respectively, on the prior year.
LiveTiles Ltd (ASX: LVT)
LiveTiles is a fast-growing digital workplace platform provider with a focus on the artificial intelligence market. In FY 2018 it grew annualised recurring revenues by 275% to $15 million thanks partly to its partnership with Microsoft. Management expects strong growth in FY 2019 due to the engagement of a dedicated sales force and further development of the Microsoft and partner channels.
Volpara Health Technologies Ltd (ASX: VHT)
Volpara Health Technologies is a breast imaging analytics and analysis software specialist. The growing popularity of its product means that management is targeting a 9% share of the U.S. breast screening market in FY 2019, up from 3.7% at the end of FY 2018. Volpara grew its annual recurring revenues by an impressive 223% last year.
