If I imagined that I had $5,000 to invest into ASX tech shares, it’d be an exciting prospect.
There are lots of ASX growth shares in the technology space that could be good ideas to think about. Last month I wrote about three of my preferred tech ideas in an article which included Pushpay Holdings Ltd (ASX: PPH), Redbubble Ltd (ASX: RBL) and Adore Beauty Group Ltd (ASX: ABY).
To ensure I’m giving some other ideas, here are some more great tech names:
Temple & Webster Group Ltd (ASX: TPW)
Temple & Webster is one of the ASX’s leading retailers. It operates in the attractive e-commerce space and has a goal of becoming the biggest in the industry.
With the speed that revenue is growing, it certainly looks possible if strong compound growth continues. Full year FY21 revenue increased by 85% to $326.3 million. For 1 July 2021 to 27 August 2021, revenue was up 49%.
I also think that the ASX tech share’s high level of investment to improve its business operating performance and customer shopping experience will really pay off over the long-term.
As an online retailer, I think Temple & Webster is capable of producing strong margins than its ‘offline’ competitors.
Volpara Health Technologies Ltd (ASX: VHT)
Volpara is an ASX healthcare tech share. It provides software relating to breast cancer screening, in relation to both the patient and the practice carrying out the screening. The company is increasingly focused on ‘risk’ as it believes that all patients would benefit from identifying breast cancer, or the risk of breast cancer, as early as possible.
The company is trying to offer a platform of different products for patient tracking, risk and density offering.
Recently, it has a seen a number of large analytics deals signed and is seeing increasing average revenue per user (ARPU) as it wins new customers with the larger suite of products, or is upselling to existing customers.
Volpara’s latest quarterly annual recurring revenue (ARR), for the second quarter of FY22, saw an increase of 10% since the end of the fourth quarter of FY21 to US$20.4 million. Its gross profit margin and market share continues to grow.
The lung cancer screening division is also a very useful bonus option for the business in the future.
VanEck Video Gaming and Esports ETF (ASX: ESPO)
I think this ASX tech share is an exciting exchange-traded fund (ETF) in my opinion. The video gaming and e-sports sector seems to be an industry that has growth potential and is defensive – gamers seem to game month after month and year after year.
There are lots of impressive, globally growing businesses in this portfolio such as Nvidia, Advanced Micro Devices, Tencent, Sea, Nintendo, Netease.com, Activision Blizzard, Unity Software, Take Two Interactive Software, Bandai Namco and Electronic Arts.
E-sports is a global growth area that is seeing double digit revenue growth, growing audiences and looks like a very scalable service considering it’s a digital industry.
