There are a few great ASX growth shares that may be worth thinking about right now.
Here are two ideas:
Pushpay Holdings Ltd (ASX: PPH)
Pushpay is an ASX growth share which specialises in software and finance tools for the large and medium US church sector.
The company says that it provides a donor management system, including donor tools, finance tools and a custom community app, and a church management system to the faith sector, non-profit organisations and education providers located predominately in the US and other jurisdictions.
It also owns Church Community Builder, which provides a software as a service (SaaS) church management system. The platform allows churches to connect and communicate with their community members, record member service history, track online giving and perform a range of administrative functions.
The ASX growth share boasted that with Pushpay and Church Community Builder combined they deliver a best-in-class, fully integrated church management system, custom community app and giving solution for customers in the US faith sector.
Pushpay has seen a large increase in demand for its services over the last year through the difficult COVID-19 pandemic period.
In the FY21 half-year report, Pushpay's processing volume increased by 48% to US$3.2 billion. This drove operating revenue higher by 53% to US$85.6 million.
That result saw Pushpay's profit margins continue to increase. The gross profit margin increased by three percentage points from 65% to 68%. The earnings before interest, tax, depreciation, amortisation and foreign currency (EBITDAF) margin improved from 17% to 31%.
Operating cashflow rose by 203% to US$27 million and net profit after tax (NPAT) increased by 107% to US$13.4 million.
In a recent update, Pushpay upgraded its EBITDAF guidance to a range of US$56 million to US$60 million, up from previous guidance of US$54 million to US$58 million. This happened because it received higher donations in December 2020 than expected and operating leverage continues to accrue.
The ASX growth share has also allocated an initial investment of resources into developing and enhancing the customer proposition for the Catholic segment in the US.
At the current Pushpay share price, it's trading at 22x FY23's estimated earnings.
Betashares Nasdaq 100 ETF (ASX: NDQ)
This is an exchange-traded fund (ETF) which gives investors exposure to 100 of the largest non-financial businesses on the NASDAQ, which is a stock exchange in North America.
Many of the world's biggest technology companies can be found on the NASDAQ. Just look at the ETF's biggest positions: Apple, Microsoft, Amazon, Tesla, Alphabet, Facebook, Nvidia, PayPal and Netflix.
This group of businesses, which includes the 'FAANG' shares have been delivering outperformance for a long time as their profits and market share continue to grow.
The net returns of this ASX growth have been an average of 21.25% per annum since the ETF's inception in May 2015. Over the last five years it has delivered an average return per annum of 23.3% and over the last three years it has returned an average of 25.7% per annum.
There's more to Betashares Nasdaq 100 ETF than simply the world's biggest tech names. There are also other large, growing businesses like Intel, Adobe, Broadcom, Qualcomm, Costco, Texas Instruments, Advanced Micro Devices, Applied Materials, Intuitive Surgical, Mercado Libre, Zoom, Activision Blizzard and Moderna.
Betashares Nasdaq 100 ETF has an annual management fee of 0.48% per annum.
