The third annual FT ranking of America’s fastest-growing companies captures business resilience as it adapts to the initial onslaught of the Covid epidemic in 2020.
Since that initial response, business leaders across the region have pledged to “get back on track” – with increased digitization in various sectors and rapid improvements in green energy production and infrastructure.
As the coronavirus crisis deepens, the technology sector has grown rapidly and more people are starting to work, shop and communicate through digital channels. Some companies have seen their growth slow down since the lockdown.
As of last year’s rankings, technology – led by North American companies – followed about 28 percent of the overall list, followed by financial services (7 percent) and health (6.4 percent).
The FT list was compiled by Statista, a research firm, and ranks entrants across the United States by their compounded annual growth rate (CAGR) of revenue between 2017 and 2020.
The rankings are not necessarily a reflection of the size of countries’ economies, but rather their ability to innovate and to be open with the financial information of their high-growth companies. About 90 percent of the companies listed are from the United States and Canada, versus 5 percent from Brazil.
At the healthcare center level over the past few years, it is fitting that the fastest growing company in this latest ranking is a medical technology business (although it is not related to the treatment of Covid-19). California-based Axionix specializes in products for patients with bladder and intestinal dysfunction. With 855 percent of the 2017-20 CAGR, this puts last year’s winner, the US lending platform upgrade, out of the top.
Axionics is ranked second and third by Human Bees, a recruiting agency and Cohereus Biosciences, which develops therapeutics for oncology and inflammatory diseases.
Readers can use the arrow buttons at the top of the columns in the table below to sort by country, sector or revenue to analyze data in more detail. If you switch from sorting by CAGR to total 2020 revenue sorting, for example, names like Amazon, Tesla, Netflix and Wayfair will rise to the top. Out of the total 500 listed on the exchange, these businesses are in total 81.
Since many fast-growing companies tend to be held privately and do not disclose detailed financial information publicly, a ranking like this can never claim to be complete. But the rigorous screening process (please read the procedure below the table), which requires senior executives to sign off on the statistics submitted by their companies, means that the ranking can give readers a meaningful insight into the health of these private companies.
Scroll to the bottom of the interactive table for the complete procedure.
* Star-marked companies had less than 12 months of revenue in FY17, but still exceeded $ 100,000 in revenue. ** Companies marked with a double star have been acquired since the expiration of the relevant timeframe.
FT America’s Fastest Growing Company 2022 is a list of the top 500 companies in the Americas with the highest increase in publicly published revenue between 2017 and 2020.
Ranking is done through a complex method. Although the search was very extensive, it did not claim that the ranking was complete, as some companies did not want to publish their statistics or did not participate for other reasons.
The project was advertised online and in print, allowing all eligible companies to register through the websites created by Statista and the Financial Times. Also, through research on company databases and other public sources, Statista has identified several thousand companies in the US as potential candidates for FT ranking. These companies are invited to participate in the competition by mail, email and telephone.
The application period runs from October 2021 to January 2022. The revenue figures submitted must be certified by the Chief Financial Officer, the Chief Executive or a member of the company’s executive committee. Companies with three or fewer employees, or companies that are not legal entities, were subject to additional checks to verify their revenue numbers.
Criteria for inclusion in the list
To be included in the list of fastest growing companies in America, a company must meet the following criteria:
রাজ Revenue of at least $ 100,000 generated in 2017 (or the equivalent of the value of the currency according to the actual fiscal year average).
রাজ Revenue of at least $ 1.5 million in 2020 (or the equivalent of the average value of the actual fiscal year).
An independent entity (not a subsidiary or branch office of any kind).
বৃদ্ধি Revenue growth between 2017 and 2020 that was initially organic (e.g. stimulated “internally”).
Headquartered in one of the 20 American countries. Companies from these countries were eligible to participate: Argentina, Belize, Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Guatemala, Honduras, Mexico, Nicaragua, Panama, United States, Paraguay, Peru.
Growth rate calculation
The growth rate of the company is calculated based on the revenue statistics of the company deposited in the respective national currency. For a better comparison in the rankings, the revenue figures were converted into US dollars. The average exchange rate of the financial year directed by the company was used for this purpose.
The compound annual growth rate (CAGR) was calculated as follows:
((Revenue 2020 / Revenue 2017) ^ (1/3)) – 1 = CAGR
The absolute growth between 2017 and 2020 was calculated as follows:
(revenue2020 / revenue2017) – 1 = growth rate
Evaluation and quality assurance
All information reported by companies was processed and verified by Statista. Missing data entries (employee number, address data, etc.) were studied in detail. Companies that do not meet the criteria for inclusion in the rankings have been removed.
In addition to the companies that responded to the invitation to participate, Statista also included some well-known companies mentioned for their significant growth. Financial data was collected through desk research using official sources, such as publicly available earnings presentations, investor relations websites and annual reports.
The minimum CAGR required to be included in the rankings this year was 9.7 percent