Canadian technology firms Tribe Property Technologies Inc. (TSX-V:TRBE) and PyroGenesis Canada Inc. (TSX:PYR, NASDAQ:PYR) were both included in Deloitte’s Technology Fast 50 program and Fast 500 programs.
The Fast 50 program recognizes Canada's 50 fastest-growing technology companies based on the highest revenue-growth percentage over the past four years and runs alongside the broader Deloitte North American Technology Fast 500 list.
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research, and development activities in Canada and invest a minimum of five percent of gross revenues in R&D.
READ: PyroGenesis beats economic headwinds in 3Q, with C$7.5M revenue and $26M contracts backlog
Montreal-based PyroGenesis ranked seventh on the Clean Technology list, while Vancouver-based Tribe ranked 44th on the main list.
Both companies also ranked on the Deloitte North America Technology Fast 500, joining a list of top-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America.
PyroGenesis, which designs, develops, manufactures, and commercializes advanced plasma processes and sustainable solutions which are geared to reduce greenhouse gases, has seen its revenue grow by 518% from 2018 to 2021.
“It is an incredible honor to be part of such a distinguished list of companies as a Canadian innovator contributing to a more sustainable and environmentally resilient future,” PyroGenesis CEO Peter Pascali said in a statement.
“Over the past several years, we have transitioned from proving the capabilities of our technologies to commercial applications of the same, by strategically and successfully positioning ourselves to address the most pressing environmental and energy issues. PyroGenesis' offerings continue to attract the interest from large multinational entities and, as such, is seen as a provider of robust environmental technology solutions for heavy industry.”
READ: Tribe Property Technologies launches community-living digital marketplace on its Tribe Home platform
Meanwhile, Tribe, a property technology company that acquires highly accretive targets in the fragmented North American property management industry and transforms businesses through streamlining and digitization of operations, has experienced similar revenue growth of 502% over the same time period.
Tribe CEO Joseph Nakhla credited the company's dedication to simplifying multi-family community living by providing the most comprehensive suite of products and services for building and managing residential communities as the major drivers of the notable revenue growth.
"Tribe's ability to support all of the stakeholders within the multi-family living space including real estate developers, owners, tenants, Boards, investors and service providers – through the digitization of a building and its surrounding community is at the heart of our success to date…This recognition is a true testament to the dedication and expertise of our team from product and engineering to management services, accounting, administration and customer support. Considering Tribe experienced that growth during a pandemic speaks volume of the team and the resiliency of the business."
Deloitte’s Fast 50 list is now in its 25th year.
"It's inspiring how this year's exceptional cohort of the Technology Fast 50 winners have delivered outstanding revenue growth even in the face of prevailing uncertainties in the economy and marketplace," Anders McKenzie, partner and national leader for the Technology Fast 50 program at Deloitte Canada, said in a statement.
"Fueled by exemplary innovation, creativity, resilience, adaptability, along with superior business leadership, these companies are paving the way as catalysts in their respective sectors and delivering growth and value to the Canadian economy both at home and beyond."
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