Alteryx Inc. has gotten the lion’s share of the attention for growth in OC’s tech community of late, but there are other local public companies going gangbusters as well.
A number of tech-oriented firms made the list of OC’s fastest-growing publicly traded companies over a two-year period. Here’s a look at five:
• The way the folks at Alteryx (NYSE: AYX) in Irvine’s Park Place area see it, there is an ever-growing demand for data analytics that help show virtually everything from ways to run your business to the reactions of NFL fans in the stadium. And the numbers show it: Alteryx keeps its No. 1 spot on the list of fastest-growing midsize OC companies with two-year sales growth of 127%, while 12-month revenue was $322 million.
Though its share price has fallen considerably from the record highs reached during the summer, its stock was still up 480% in the two-year period at about $109 a share at the end of June.
Rishi Jaluria, a senior research analyst at D.A. Davidson & Cos., told the Business Journal that worries about a “software spending slowdown” may be a reason for the recent slippage in the Alteryx share price. Jaluria said investors are worried about whether the Alteryx software is “mission critical” given its price.
Alteryx just announced a corporate move to bigger headquarters in Irvine’s Spectrum Terrace (see front-page story), and Chief Executive Dean Stoecker told the Business Journal the move “will help us scale to support both current and future global growth.”
Stoecker in July said he is still looking around for more possible acquisitions. The company recently bought Feature Labs, a machine learning and artificial intelligence software firm launched from the Massachusetts Institute of Technology.
• Bigger client sizes and food delivery management are helping to drive growth at ShiftPixy Inc., (Nasdaq: PIXY) a tech-based temp agency for restaurants that took the No. 1 spot on the list fastest-growing publicly small companies.
Its revenue surged to $49.2 million for the 12 months ended June 30, an eye-popping 482% growth in the two-year period ended June 30.
“We’re quickly penetrating our target markets which is driving rapid growth across key operational and financial metrics,” Chief Executive Scott Absher told the Business Journal in July.
That revenue growth hasn’t impressed Wall Street as its share price has fallen more than 90% in the past two years to about 49 cents a share and a market cap below $20 million.
Among its problems, the Irvine-based company earlier this year defaulted on its convertible notes.
• Moving up from No. 7 to No. 3 on the Business Journal’s list of fastest-growing small companies was Veritone Inc. (Nasdaq: VERI) of Costa Mesa with the growth of its aiWARE platform, including its availability on Microsoft Azure Government.
The company said “three new powerful applications to market: IDentify, Redact and Illuminate are experiencing great reactions in the marketplace.”
“We’re very bullish on the growth prospects of the company both mid-term and long-term,” President Ryan Steelberg told the Business Journal last month.
Sales increased 257% in the two years ended June 30, while 12-month revenue was $42.9 million, while the company’s advertising segment was also showing increased revenue.
It’s had trouble convincing Wall Street about its model; its shares are down about 29% during this two-year period; its market cap, which once approached $1 billion, is now about $70 million.
• In Santa Ana, acquisitions and “clear strategies” are the keys to growth at aerospace company Ducommun Inc., Chief Executive Stephen Oswald told the Business Journal.
Oswald took over as CEO of Ducommun (NYSE: DCO) in early 2017 and has been putting an emphasis on growth including three acquisitions, most recently military ammunition device maker Nobles Worldwide of Wisconsin (see story, page 8). The company’s share price has jumped 45% in the two years ended June 30.
“Future growth will be focused on the aerospace and defense industries by increasing activity with current customers, new applications and programs, and continued execution of the acquisition strategy,” Oswald told the Business Journal last week.
The 23% revenue growth for the two years ended June 30 helped to propel Ducommun to the No. 11 spot on the list of fastest-growing large companies in OC. Twelve-month revenue was $677 million.
• Anaheim-based Eaco Corp.’s subsidiary Bisco Industries credits its success to being a local presence, “providing exceptional service and offering one-stop-shopping.”
Bisco is a distributor of electronic components and fasteners used for production in aerospace, communication, computer, and other sectors.
Publicly traded holding company Eaco nudged up one spot to No. 7 on the list of fastest-growing midsized public companies in OC, with revenue growing 39.5% in the two years ended June 30.
