COVID-19 has impacted most ASX shares in different ways. Some ASX shares were hurt by the impacts of the pandemic, but they are now recovering and powering ahead.
The below two businesses are ones that have intentions to become leaders at what they do and are rapidly growing their revenue:
Bubs Australia Ltd (ASX: BUB)
Bubs is a producer of goat infant formula products. It also has adult goat milk products, a range of vitamins and organic grass-fed cow milk infant formula. Bubs also has access to Australia's biggest goat herd.
The company recently reported its FY22 half-year result that showed a significant resurgence of corporate daigou demand for products, with gross revenue growth of 276%. Daigou gross revenue is now more than pre-COVID levels.
The ASX share continues to grow its sales through Aussie supermarkets and pharmacies quickly, with scan sales growth of 31%.
Bubs is also opening up several international markets. Excluding China, the half-year international revenue grew by 164% and represented 21% of total revenue.
It has plans to expand in the US market, which is a large market. Bubs also just signed a strategic alliance with lead daigou distributor Willis Trading if it hits certain product purchase milestones over FY22 and FY23.
Altium Limited (ASX: ALU)
Altium is one of the world leaders in the electronic PCB design software space.
One of the main ways that Altium is looking to capture the market is with its cloud offering called Altium 365, which enables engineers to work anywhere and collaborate. Since August 2021, Altium said that the number of monthly users on Altium 365 had grown by 54% to 19,700.
The company saw a return to growth in the FY22 half-year result with revenue growth of 28% to US$102 million and net profit after tax (NPAT) growth of 38% to US$22.9 million.
The ASX share is working on other services it can offer, including Altimade which provides cloud-based 'smart manufacturing' that aims to improve the productivity and manufacturability of electronics hardware and manage the supply chain of components and production risk.
Octopart is also growing rapidly. This segment is a search engine for electrical parts. It saw half-year revenue grow by 105% to US$22 million, it's benefiting from the electrical parts shortage amid all of the COVID-19 impacts.
By 2025, Altium is looking to transform the industry. It's looking to reach 100,000 Altium Designer subscribers as a sign of its dominance.
In FY22, it is expecting its revenue to reach between US$213 million to US$217 million. That would represent growth of between 18% to 20% for the financial year.
