If you're looking to invest in the next generation of ASX success stories, sometimes you need to look beyond the usual household names. While the big end of town offers stability, it's often the mid-caps and emerging leaders that deliver the real fireworks over time.
Here are three exciting ASX growth shares that I believe have massive long-term potential.
Life360 Inc (ASX: 360)
If you're not familiar with Life360 yet, it's time to take a closer look.
This US-based technology company has built a highly sticky app centred around family safety, location sharing, and communication. With almost 80 million monthly active users, Life360 is becoming an essential platform for modern families.
What makes this company so compelling is its freemium model, which drives high engagement and a growing base of paying subscribers. It's also expanding into advertising to monetise free users.
Life360 is still in the early stages of global monetisation, and with strong network effects and brand recognition, it could have years of growth ahead.
Goldman Sachs believes this is the case. It recently put a buy rating and $28.00 price target on its shares.
Pro Medicus Ltd (ASX: PME)
Pro Medicus is a quiet achiever — but make no mistake, it's one of the most impressive ASX growth shares on the local bourse.
The company provides cutting-edge medical imaging software to some of the world's leading hospitals, allowing radiologists to view and manipulate images faster and more efficiently. Its flagship product, Visage 7, is renowned for its speed and flexibility, and is the clear market leader.
What stands out is the business model: long-term contracts, high margins, and significant pricing power. With increasing penetration in the US, continued contract wins, and a growing global reputation, Pro Medicus is well positioned to benefit from the ongoing digital transformation of healthcare.
It is for this reason that Bell Potter rates it as a buy with a $280.00 price target.
Telix Pharmaceuticals Ltd (ASX: TLX)
If you're looking for an ASX growth share with global ambitions, Telix is one to watch.
The company specialises in radiopharmaceuticals, a field that combines diagnostics and therapy for treating cancer. Its lead product, Illuccix, used in prostate cancer imaging, is already commercialised and generating growing revenue in the US and other key markets.
But the pipeline is just as exciting. Telix is developing treatments across several cancer types and has a strong R&D focus that could unlock significant upside over the coming years.
As adoption grows and new products hit the market, Telix could become a global leader in a niche but rapidly growing segment of oncology.
Bell Potter also rates Telix as a buy and has $36.00 price target on its shares.
