Toronto-based NexJ Systems Inc. tops this year’s Profit 200 list of Canada’s fastest growing companies based on revenue growth.
Although NexJ posted a first-quarter netloss of $4.5 million earlierthis month, the customer relationship management (CRM) software firm isranked first because its revenues grew by 15,025 per cent – from$200,000 in 2006 to $30.25 million in 2011 – over the past five years.
The Profit 200 ranks Canada’s 200 fastest growing firms based on theirrevenue growth (as a percentage, not in dollar terms) between 2006 and2011.
Canada’s tech sector fared well in the rankings, with companies in thesoftware development industryseeing the biggest revenue jump (up 1,299per cent) among all sectors. Wholesale distribution came in second withrevenue growth of 1,226 per cent, followed by consumer services inthird with revenue growth of 1,115 per cent.
Exporting abroad played a big rolein the sales success of companies onthe list, with seven of the top 10 firms generating at least 85 percent of their revenue outside Canada in 2011. In addition, 56 per centof the companies on this year’s list export outside Canada, up from 46per cent of firms on last year’s list. Of the listed companies that doexport, this year’s firms racked up foreign sales worth $2.4 billion in2011, up from exports worth just $240 million in 2006.
Companies on the latest list created 14,943 jobs between 2006 and 2011and posted an overall average revenue growth rate of 1,044 per centduring that period, Profit magazine said. The bulk of the businesses onthe list hail from Toronto (37 per cent), followed by Vancouver (15 percent), Montreal (13 per cent), Calgary (seven per cent),Ottawa-Gatineau (four per cent) and Edmonton (four per cent).
The companies rounding out this year’s Profit 200 top ten were MoodMedia Corp., Dallata Consulting Group Ltd., Redwood Global Inc.,JewelPop Inc., Clevest Solutions Inc., InterAtlas Chemical Inc., Wi-LANInc., Terrapro Group Inc., and Life Science Nutritionals Inc.