3 exciting small cap ASX shares to watch

Alcidion Group Ltd (ASX:ALC) and these exciting small cap ASX shares could be worthy of a spot on your watchlist…

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Are you looking to add a small cap share or two to your portfolio? If you are, then you might want to take a look at  the shares listed below.

These three shares have been growing at a solid rate and could have bright futures ahead of them. Here’s what you need to know about these exciting small cap shares:

Alcidion Group Ltd (ASX: ALC)

The first small cap share to watch is this informatics solutions company. Alcidion is a growing provider of software which has been designed to improve the efficacy and cost of delivering services to patients and reduce hospital-acquired complications. The company looks well-positioned for growth thanks to the shift to a paperless environment in the healthcare sector and other favourable industry tailwinds.

PlaySide Studios Limited (ASX: PLY)

Another small cap to watch is PlaySide Studios. It is a video game developer with a portfolio of 55 games across a range of categories. This includes self-published games based on its own original intellectual property and also games that have been developed in collaboration with Hollywood studios. Management estimates that PlaySide has a global market opportunity worth a total of $77.2 billion per annum. This gives it a very long runway for growth over the next decade and beyond.

Volpara Health Technologies Ltd (ASX: VHT)

A final small cap ASX share to watch closely is Volpara Health Technologies. It is a leading provider of software that uses artificial intelligence imaging algorithms to assist with the early detection of breast and lung cancer. Volpara has been growing its revenue at a quick rate for a number of years and this continued in FY 2021 despite the pandemic. Pleasingly, thanks to acquisitions and its growing product portfolio, the company appears well-positioned to continue this strong form in the years to come. Particularly given its ever-improving average revenue per user metric.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends VOLPARA FPO NZ. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Alcidion Group Ltd. The Motley Fool Australia has recommended Alcidion Group Ltd and VOLPARA FPO NZ. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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