3 exciting small cap ASX shares that could be destined for big things

Mach7 Technologies Ltd (ASX:M7T) and these exciting small cap ASX shares could have bright futures ahead of them. Here's why…

| More on:
A man stands with arms crossed in front of a giant shadow of a body builder representing ASX small-cap stocks.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

At the small end of the Australian share market, there are a number of companies with the potential to grow materially in the future.

Three standouts are listed below. Here's why they should be on your watchlist:

Damstra Holdings Ltd (ASX: DTC)

The first small cap to watch is Damstra. It is a growing integrated workplace management solutions provider. Damstra's cloud-based workplace management platform is used by businesses globally to track, manage, and protect their workers and assets. Demand has been growing strongly in recent years and has continued in FY 2021. For example, during the first half of FY 2021, Damstra reported a 29.6% increase in revenue to $13.3 million. Pleasingly, this is still only a small fraction of an addressable market which is expected to be worth US$20 billion by 2022.

Mach7 Technologies Ltd (ASX: M7T)

Another small cap ASX share to watch is Mach7. It is a medical imaging data management solutions provider. Mach7's software allows users to create a clear and complete view of the patient. This then helps them inform diagnosis, reduce care delivery delays and costs, and improve patient outcomes. This could become particularly important in the current environment, where telehealth services are growing rapidly in popularity, creating a need for this type of technology. According to management, the company's total addressable market is estimated to be US$2.75 billion. This gives it a long runway for growth over the next decade.

Pointerra Ltd (ASX: 3DP)

Pointerra is a growing technology company with a focus on the commercialisation of 3D geospatial data. The company's software allows users to manage, visualise, and share large digital 3D datasets with ease. This is because its clever software is able to extract vital information from the data that would otherwise take many hours to do. Management believes that its addressable market opportunity is currently worth a massive $500 billion annually. One notable shareholder is well-respected tech investor, Bevan Slattery.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Damstra Holdings Ltd and MACH7 FPO. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Pointerra Limited. The Motley Fool Australia has recommended Damstra Holdings Ltd, MACH7 FPO, and Pointerra Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Small Cap Shares

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Small Cap Shares

These small cap ASX shares could rise 50% to 65%

The team at Bell Potter is bullish on these names. Let's find out why.

Read more »

A smiling businessman in the city looks at his phone and punches the air in celebration of good news.
Small Cap Shares

Want to beat the stock market? I'd focus on buying these ASX shares

I think these ASX shares offer plenty of promise.

Read more »

A woman jumps for joy with a rocket drawn on the wall behind her.
Small Cap Shares

Guess which small cap ASX stock is rocketing 28% on $100m deal

It has been a very good start to the day for owners of this stock.

Read more »

A man has a surprised and relieved expression on his face. as he raises his hands up to his face in response to the high fluctuations in the Galileo share price today
Small Cap Shares

Bell Potter says this small cap ASX stock can rocket 40%+

Let's see what Bell Potter is saying about this small cap.

Read more »

A person sitting at a desk smiling and looking at a computer.
Share Market News

2 ASX small caps with serious market-beating potential

Here's two compelling ideas to add to your watchlist.

Read more »

Woman in business suit holds both hands out with a question mark above each hand.
Small Cap Shares

Building a market beating portfolio: ASX 200 stocks vs small caps

From blue-chip shares to small-caps what’s best for your portfolio?

Read more »

Two kids in superhero capes.
Small Cap Shares

2 small ASX shares to buy that have big potential

A fund manager is optimistic about these stocks.

Read more »

A female ASX investor looks through a magnifying glass that enlarges her eye and holds her hand to her face with her mouth open as if looking at something of great interest or surprise.
Small Cap Shares

3 of the best small cap ASX stocks to buy now

Bell Potter thinks these shares are among the best to buy at the small end of town.

Read more »