If your risk profile allows you to invest in small cap ASX shares, then you might want to take a look at the ones listed below.
I believe all three of these small cap ASX shares have strong growth potential and could be well worth adding to your watchlist. Here's why I like them:
Clover Corporation Limited (ASX: CLV)
Clover is a producer of specialist ingredients that are designed to deliver science-based benefits to the global infant children and medical food markets. It has been growing its sales at a strong rate over the last few years thanks largely to increasing demand for omega-3 oils from infant formula manufacturers. Given favourable changes to ingredient requirements in a number of key markets, I expect this positive form to continue over the coming years.
Nitro Software Ltd (ASX: NTO)
Nitro Software is a software company aiming to drive digital transformation in organisations around the world across multiple industries. Its core product offering is the Nitro Productivity Suite. It provides integrated PDF productivity and electronic signature tools to customers through a horizontal, software-as-a-service, and desktop-based software solution.
Volpara Health Technologies Ltd (ASX: VHT)
Volpara Health Technologies is a provider of software that leverages artificial intelligence imaging algorithms to assist with the early detection of breast and lung cancer. Demand for its software continues to grow at a rapid rate, leading to stellar market share gains and recurring revenue growth. Given the quality and stickiness of its software and management's aim of generating higher and higher revenues per user, I believe it is well-positioned for growth over the next decade.
