ASX growth shares could be interesting opportunities after such heavy declines in the ASX share market.
Businesses that are now much cheaper but growing strongly could still be worth looking at.
While revenue growth isn't the only important thing, it can help with aspects such as operating leverage and re-investment for more growth.
Netwealth Group Ltd (ASX: NWL)
The Netwealth share price has fallen by 27% since the start of 2022.
This ASX growth share describes itself as a financial technology services company. It's a superannuation fund trustee and an administration business. It provides superannuation products, investor-directed portfolio services, managed accounts, and managed funds.
Despite all of the market volatility and disruption, the company continues to experience growth.
In the quarter for the three months to 31 March 2022, its funds under administration (FUA) reached $57.6 billion, a 37.6% increase year on year. During the quarter, it experienced net inflows of $2.6 billion, an increase of 16%.
It also had $13.8 billion of funds under management (FUM) at 31 March 2022. The last quarter saw FUM net inflows of $0.5 billion.
The company boasts of leading the industry for FUA net inflows. It saw the largest FUA net inflows of $13 billion for the 12-month rolling period to 31 December 2021.
Netwealth said its market share increased to 5.5% at 31 December 2021, "up 1.1%" over the 12 months.
In terms of the outlook, the company says its pipeline and win rate for new business remains "very strong" across all market segments. In the fourth quarter, which is between April to June, it said it would launch its new non-custodial administration service, further enhancing its capabilities.
Netwealth still believes its FUA net inflows for FY22 will be more than $13.5 billion.
The ASX growth share says it's highly profitable, generates "exceptional" cash flow, has very high levels of recurring revenue, very low capital expenditure, is debt-free, and has "significant" cash reserves.
Cettire Ltd (ASX: CTT)
Cettire describes itself as a global online retailer, which sells a large selection of personal luxury goods. It has a catalogue of more than 1,700 luxury brands with more than 200,000 products of clothing, shoes, bags, and accessories.
The Cettire share price has fallen by 74% since the start of the calendar year.
In the first half of FY22, the company grew sales revenue by 181% to $113.7 million and the 'delivered margin' increased by 118% to $24.7 million. Operating cash flow rose 43% to $12.3 million.
Its growth continued into the second half of the year, with January 2022 gross revenue growing by 242%.
The company points to several areas of further growth potential. Its mobile apps "provide scope to improve and optimise the transaction flow and support improved conversion rates over time".
It's expanding into the beauty and children product categories. The ASX growth share is entering the mainland Chinese market and has gone into a partnership with the huge online retailer JD.com.
