When markets rally, it can be tempting to jump from one hot ASX share to another in search of quick gains.
But sometimes, the best thing to do is to stick with companies that are already firing on all cylinders — particularly those combining rapid growth with improving fundamentals.
In recent months, the ASX has seen its fair share of strong performers. But among the pack, a few names stand out not just for their past gains, but for their potential to keep delivering.
Here are two ASX shares that have already gone sky-high — and might not be done climbing just yet.
Life360 Inc (ASX: 360)
Life360 has quietly become one of the biggest tech success stories on the Australian share market. This location-based services company — best known for its family safety app — has now climbed an astonishing 1,500% over the past five years, and its latest numbers show why it might just keep going.
In the first quarter of FY 2025, Life360 delivered revenue of US$103.6 million, up 32% year on year. Subscription revenue grew 33%, while core subscription revenue jumped 37%. Adjusted EBITDA surged to US$15.9 million, nearly quadrupling from the prior year. Perhaps most impressively, the company generated positive operating cash flow of US$12.1 million and ended the quarter with US$170.4 million in cash on the balance sheet.
Its growth was underpinned by a 26% year-on-year increase in monthly active users, which now sit at 83.7 million globally. The number of Paying Circles — a key monetisation metric — grew to 2.4 million, up 26% year on year, while average revenue per Paying Circle also rose 8%.
All in all, Life360 is scaling fast, expanding margins, and has a sticky subscription model. These are all ingredients for long-term compounding growth.
Telix Pharmaceuticals Ltd (ASX: TLX)
Another ASX share that could be destined for big things is radiopharmaceuticals specialist Telix Pharmaceuticals. It is another name investors would have been thrilled to hold in recent times. In fact, its share price has rocketed 1,800% over the past five years, and there may still be more in the tank.
The company has kicked off FY 2025 with a bang, reporting revenue of $186 million in the first quarter. That was up 62% on the prior year. Leading the charge is its flagship product Illuccix, which generated $151 million in sales for the quarter. This was an increase of 35% year over year. Add in $33 million from its newly acquired RLS Radiopharmacies, and you have one of the fastest-growing companies on the ASX 200 index.
Looking ahead, full year FY 2025 revenue guidance is $770 million to $800 million, underpinned by new market launches and expanding international demand. Telix is also investing aggressively into R&D, with spending expected to rise 20–25% this year — a signal that the company sees continued momentum ahead.
The ASX share's CEO, Dr. Christian Behrenbruch, explained:
The expansion of our commercial portfolio and launches of Illuccix into new international markets provides a foundation to diversify and grow revenue globally, while we continue to deliver on multiple catalysts in our pipeline.
All in all, Telix looks well placed to build on its impressive run in 2025 and beyond.
