August proved a busy month for ASX investors. Now that earnings season is coming to a close, it's time to start gearing up for a strong September.
Here are three ASX growth companies that I'll be keeping close watch of next month.
Nanosonics
The Nanosonics Ltd. (ASX: NAN) share price charged 33% higher on Tuesday, closing at $6.63. This came after the company announced its FY19 results and strong guidance for the following year. Nanosonics grew its operating profits before tax by 201% to $18.8 million and revenue is also up 39% to $84.3 million. It also saw its global installed user base reach 20,930 units at the end of the FY, an 18% growth from the prior corresponding period.
Its 2nd generation trophon, trophon2, has also had a successful run this year after launching in the US, with positive customer sentiments regarding the product. Nanosonics also announced it was granted approval to launch in the Japanese market.
The share price of this killer healthcare company has rocketed 138% in the YTD, meaning Nanosonics now sports a whopping 182x P/E multiple. This one will definitely be on my watchlist, especially given it's anticipating 2020 to maintain the same growth and adoption rate.
Elixonol
Elixinol Global Ltd (ASX: EXL) is an Australian CBD producer. The Elixinol share price has plummeted in 2019, currently at $2.42 and less than half its peak of $5.69 just 3 months ago.
Nevertheless, the company has been making significant milestones in the US and its reputation as the top seller of CBD products is growing. Elixinol's product range includes hemp CBD oil tinctures, capsules, liposomes and powder and its Colorado-based business is driving the largest portion of revenue.
In recent news, the company struck an $18 million deal with Pet Releaf to sell hemp-based pet products. Similarly, the company's legacy business, Hemp Foods Australia, also launched a burger product at Woolworths Group Ltd (ASX: WOW). The company continues to strike deals with distribution partners which have been critical to its early success.
Group revenue grew 18% up from the previous quarter and 19% over the prior corresponding period, bring total revenue to $9.9 million. Elixinol is a good company to have on your radar for further September announcements.
Aristocrat Leisure
Aristocrat Leisure Limited (ASX: ALL) is an Australian slot machine developer. The ALL share price has risen 39% in the YTD for a $29.31 close today.
The company recently announced its deployment of a new cabinet called Mars-X. This new-look slot machine will be deployed across the APAC region, it's fitted with two 27-inch, 4k displays and a new technology called "Gen9".
On top of this, Aristocrat has been exploring other digital segments due to the legality and ethics surrounding its existing business. This 'digital' business taps into the lucrative $32 billion mobile gaming industry. Aristocrat's portfolio includes Israeli's Plarium and Seattle's Big Fish Games, both of which were acute drivers of the reported 37% growth in its digital segment.
Aristocrat will be announcing its FY19 results on September 30. This could be the perfect opportunity to buy into the company's growth.
