Mon. Dec 6th, 2021


Software program firms take 7 of the highest 10 spots on Deloitte’s 2021 North America Know-how Quick 500 checklist, however 3 medical and biotech firms take the opposite spots, and a kind of is the winner.

For the twenty sixth straight yr, software program firms continued to dominate the Deloitte Know-how Quick 500, however biotech and medical system firms additionally captured prime spots. Axonics (Nasdaq: AXNX), a medical expertise firm, topped the 2021 checklist with a development price of 87,037% from 2017 to 2020. No, that is not a typo. Based mostly in Irvine, CA, Axonics presents an “implantable rechargeable sacral neuromodulation system” designed to deal with sufferers with “overactive bladder and/or fecal incontinence”.

“Axonics is proud to be acknowledged because the quickest rising firm on the Deloitte Know-how Quick 500 checklist,” mentioned Raymond W. Cohen, chief government officer of Axonics, in a press launch. “The sturdy development of Axonics is a testomony to the mission-driven tradition of the corporate, the dedication of our staff, and our dedication to innovation and growing best-in-class incontinence options that enhance the lives of sufferers. We’re grateful for the belief physicians, sufferers and shareholders have positioned in Axonics.”

For the 9 months that ended on September 20, 2021, Axonics reported internet income of $127.2 million in comparison with $76.8 million for a similar interval in 2020, representing a 66% development price. In October, the Orange County Enterprise Journal named Axonics the quickest rising public firm in Orange County. 

The highest 10 firms on the 2021 Quick 500 checklist had been:

  1. Axonics – Medical system firm targeted on incontinence therapies, Irvine, CA
  2. GetUpside – Buyer rewards and loyalty platform, Washington, DC
  3. Attentive – Textual content message advertising and marketing software program, Hoboken, NJ
  4. Shipwell – Logistics and delivery software program, Austin, TX
  5. Snapcommerce – Cellular commerce firm that runs Snaptravel, Toronto, ON
  6. Coherus BioSciences – Biopharmaceutical firm, Redwood Metropolis, CA
  7. Drift – Conversational advertising and marketing platform, Boston, MA
  8. Nufabrx – Biopharmaceutical firm providing “healthware” merchandise, Conover, NC
  9. VirnetX Holding – Actual-time communications safety, Zephyr Cove, NV
  10. Banyan Software program – Enterprise software program, Atlanta, GA

Now in its twenty seventh yr, Deloitte’s 2021 Know-how Quick 500 ranks firms primarily based on their proportion fiscal yr income development between 2017 and 2020. The businesses on the this yr’s checklist had income development between 212% and 87,037% and a median development price of 521%.

Deloitte 2021 Technology Fast 500 - Software companies

Software program and SaaS firms made up 73% of the businesses on the 2021 Deloitte Know-how Quick 500 checklist.

Picture: Deloitte

Software program and
SaaS

firms accounted for 7 of the highest 10 firms on the checklist and 368 (73%) of the checklist’s whole 500. It is a 2% enhance from final yr. Inside this class, enterprise infrastructure & productiveness made up 26%, fintech 19%, digital platforms 18%, information analytics 13%, safety 12% and eventually client software program and healthtech with 6% every.

Biotechnology/pharmaceutical firms made up the following largest trade group with 14%, digital content material/media/leisure and digital units/{hardware} tied for third with 3% every and communications/networking, vitality tech and medical units tied for the for the fourth spot with 2%.

deloitte-fast-500-2021-industry-categories.jpg

2021 Deloitte Know-how Quick 500 winners by trade

Picture: Deloitte

In an interview with TechRepublic, Paul Silverglate, associate and vice chair with Deloitte, mentioned he believes “biotech is climbing up” the checklist and since this yr’s rating solely displays information from the preliminary a part of the 
COVID

pandemic, he expects to see extra biotech firms on future lists.

Silverglate additionally mentioned he expects subsequent stories to replicate the expansion of firms that present “merchandise that had been developed on account of COVID” to assist individuals work from their houses. “Firms that allow you to dwell, work and play inside your own home, tended to do effectively throughout the pandemic,” mentioned Silverglate. “And, These firms that helped you reside, work and play exterior your own home, much less effectively.”

SEE: Coronavirus: Important IT insurance policies and instruments each enterprise wants (TechRepublic Premium)

Together with particular firms and tech sectors, Deloitte additionally ranked geographic areas. The businesses on the 2021 checklist represented 37 states and provinces in North America. California’s Silicon Valley topped the Quick 500 accounting for 21% of firm headquarters. The New York metropolitan space was second with 12%, New England was third with 8%, higher Los Angeles had 6% and higher Washington, DC, Washington State, and Texas accounted for five% every.

Deloitte 2021 Technology Fast 500 top geographic regions

Silicon Valley and the San Francisco Bay space had essentially the most firms (by headquarters) on the Deloitte 2021 Know-how Quick 500 checklist with 103 out of 500 (21%).

Picture: Deloitte

To be thought-about for Deloitte’s 2021 North America Know-how Quick 500 awards, firms needed to apply between April 5 and July 9, 2021 and meet the next necessities:

  • Be in enterprise for at the very least 4 years
  • Be headquartered in North America
  • Have fiscal yr 2017 working revenues of at the very least $50,000
  • Have fiscal yr 2020 working revenues of at the very least $5 million
  • Have a development price of at the very least 75% (development price is computed as [(FY20 rev. – FY17 rev.)/FY17 rev.] x 100)
  • Personal proprietary mental property or proprietary expertise, which have to be offered to prospects in services or products that contribute to a majority of the corporate’s working revenues

Firms additionally needed to fall inside one of many trade classes on this yr’s checklist. There was no payment to use.

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