The 47 fastest-growing public companies in Orange County are growing faster.
This week’s Business Journal Special Report features publicly held businesses with headquarters in OC. Those on the lists grew revenue by at least 15% since 2014 and are ranked by percentage increases.
The companies’ revenue data were compiled for the Business Journal by B. Riley & Co., a Los Angeles-based investment bank and research firm with an office in Newport Beach.
The latest collection of OC’s fastest-growing public companies combined to boost revenue by more than 75% over the last two years to nearly $25.4 billion for the year ended June 30.
That growth rate is almost twice as fast as that of last year’s list, which grew 41%, and more than three times faster than the 24% benchmark in previous lists.
This year’s list is also about 50% larger in terms of total entries compared to last year’s list, which had 30 entries. The 2014 list had 37 entries.
The companies on this year’s list also increased local and firmwide work forces within the last year. They combined to increase local hires by 10% to 13,118. The number of jobs in OC’s overall economy, by comparison, grew 2.8% to 1.58 million during the same period, according to the state Employment Development Department’s report published this month.
The companies’ combined firmwide hires totaled 94,553, up almost 21%. The national pace of job growth was about 2.4% for the year ended in September, with the total number of employees at about 151.98 million, according to data from the Bureau of Labor Statistics.
The list also includes data on the companies’ recent net income and market capitalizations, but that information doesn’t affect the rankings.
The 47 companies are divided into three categories separated by amount of revenue, then ranked within the categories based on percentage gains.
Large Companies
The large companies category includes businesses that had revenues of $500 million or more for the year.
The 13 large companies had an average two-year sales growth of about 80% to $22.5 billion. They accounted for about 88.6% of all the revenue on the list.
The large companies reported a combined net income of about $1.6 billion for the year and had a combined market cap of about $47.2 billion as of last week.
Together they employed 10,139 locally, up 10% from a year ago. They employed 85,304 firmwide, up 21.5%.
• TRI Pointe Group Inc. in Irvine is the No. 1 large company, with about $2.6 billion in revenue for the year, up 660% in two years. The homebuilder reported 12-month net income of about $237 million and had a market cap of about $2 billion. It employed 177 locally, up 14% year-over-year, and 1,110 firmwide, up 9.4%.
• CalAtlantic Group Inc. in Irvine was No. 2 with about $5.2 billion in revenue, up about 135%. The homebuilder reported net income of about $309.6 million in June and had a market cap of about $3.8 billion as of last week. It employs 228 locally, up about 4%, and 2,842 firmwide, up 124.5%.
• Banc of California in Irvine was No. 3 with about $587.8 million in revenue, up about 116% over two years. The bank reported net income of about $77.1 million in June and had a market cap of $647.9 million as of last week. It employs 945 locally, up about 3.5%, and 1,730 firmwide, up about 5%.
Midsized Companies
The midsized companies category includes businesses with revenues between $100 million to $499.9 million for the year.
The 12 medium companies had an average two-year sales growth of about 42.9% to about $2.5 billion, accounting for 9.6% of the revenue on the list.
They reported a combined net loss of about $158.7 million for the year and had a combined market cap of about $5.9 billion as of last week. The loss was primarily due to two companies: No. 8-ranked Acacia Research Corp. in Newport Beach, which reported a net loss of about $194.5 million, and No. 10-ranked Endologix Inc. in Irvine, which reported a net loss of about $140.7 million.
Acacia recorded a discounted impairment of about $40 million due to write-offs of its purchase of Adaptix Inc., which has patents used to build 4G broadband wireless networks, according to Securities and Exchange Commission filings. The patents have a discounted value over time, Acacia said in SEC filings.
Endologix reported a loss due to its acquisition of TriVascular Technologies Inc. for $211 million in cash and equity on Feb. 3. The company said in SEC filings that it lacked the shares needed to “cover all contracts” and that the contracts were “reclassified from equity to liabilities.”
The midsized companies combined to employ 1,825 locally, up about 10% from a year ago. They employed 7,493 firmwide, up 17%.
• Pacific Premier Bancorp Inc. in Irvine is the No. 1-ranked midsized company, with 95.8% sales growth over two years to about $158.1 million. The bank reported net income of about $34.8 million for the year and had a market cap of about $685.9 million last week. It employs 230 locally, up 14%, and 450 firmwide, up 4.7%
• California Republic Bank in Irvine is No. 2 with about 88% sales growth over two years to about $107.2 million. The bank was acquired by Mechanics Bank in Walnut Creek on Oct. 1 and is no longer trading under its former ticker symbol. It reported net income of about $9 million for the year. It employed 295 locally as of September, up 26.6%, and 487 firmwide, up 12.7%.
• The New Home Co. in Aliso Viejo is No. 3 with about 80.3% sales growth over two years to $475.7 million. The homebuilder reported net income of about $18.4 million for the year and had a market cap of $221 million as of last week. The company employs 160 locally, up 21.2%, and 279 firmwide, up about 16%.
Small Companies
The small companies category includes businesses that had revenues below $100 million for the year.
The 22 small companies had an average two-year sales growth of about 57.6% to about $452.3 million. They accounted for about 1.8% of the revenue on the list.
The companies reported a combined net loss of about $130.8 million for the year and had a combined market cap of about $1.3 billion as of last week. Most of the companies—14—reported losses, while the other firms reported profits of between $24,000 and about $8.6 million.
The companies combined to employ 1,154 locally, up about 6.7% from a year ago. They employed 1,756 firmwide, up 0.3%.
• mLight Tech Inc. in Costa Mesa is the No. 1-ranked small company with 199.5% sales growth over two years to about $2.5 million. The auto body repair company, which trades over-the-counter, reported net income of $24,840 for the year and a market cap of about $702,100 as of last week. The company made five hires within the last year to employ an estimated six people locally and firmwide.
• Blackcraft Cult Inc. in Anaheim is No. 2 with 194.1% sales growth over two years to about $2.3 million. The clothing retailer reported net income of $63,730 for the year. The company hired three to employ a total of eight locally and firmwide.
• Terra Tech Corp. in Newport Beach is No. 3 with 172.4% sales growth over two years to about $15.4 million. The hydroponic equipment maker reported a net loss of about $13.4 million for the year and had a market cap of $161.4 million as of last week. It employs 41 locally and firmwide, up 272.7%.
