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Canada boasts some of the most exciting tech companies in North America. Recently, I listed my top four tech stocks to pick up in January. Here are three of my favourites that come cheap to start 2018.
Solium Capital Inc. (TSX:SUM)
Solium is a Calgary-based company that provides technology and services supporting equity-based incentive plans. The stock has increased 3.4% in 2018 as of close on January 25 and has climbed 38% year over year. The company released its 2017 third-quarter results on November 7, 2017.
Revenue jumped 4% year over year to $20.8 million and 9% in the nine-month period ending September 30, 2017. Net earnings climbed 29% year to date in 2017 to $4.1 million. Operating expenses also increased by 10% to $19.5 million.
In October 2017, Solium announced the acquisition of Capshare Inc., a company that offers a cloud-based platform for cap table management, modeling, electronic share tracking, and waterfall analysis. The company also closed a bought deal financing for proceeds of $46 million, which will provide it more financial flexibility going forward.
Mogo Finance Technology Inc. (TSX:MOGO)
Mogo is a Canadian FinTech company that offers credit and other banking solutions on the web. The company recently announced that it would lease Bitcoin-mining machines in an effort that would begin later this quarter. Shares have declined 4.7% in 2018, but the stock has climbed 158% year over year.
Mogo released its 2017 third-quarter results on November 8, 2017. Product revenue jumped 61% year over year and represented 30% of total revenue. The gross profit margin grew to 68% of revenue in comparison to 60% in Q3 2016. Adjusted EBITDA climbed 96% from the third quarter of 2016 to $1 million — the fifth consecutive quarter of positive growth in adjusted EBITDA.
Gross loans receivable increased to $74.7 million from $69.6 million in the prior year. The company also added 53,000 new members in the third quarter — a 23% jump from the previous quarter. Mogo expects to reach 800,000 to one million members by the end of 2018.
Exfo is a Quebec-based technology solutions company that services wireless and wireless network operations. The stock has increased 4.9% in 2018 and is down 13% year over year. Exfo released its fiscal 2018 first-quarter results on January 9.
Sales climbed to $63.4 million in comparison to $61.8 million in Q1 2017. Bookings attained were flat year over year, and IFRS net earnings were down to $2.7 million compared to $3.3 million in the previous year. The company also acquired a 33.1% stake for $10.3 million in Astellia, a France-based provider of network and subscriber intelligence for mobile network operators.
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Fool contributor Ambrose O'Callaghan has no position in any stocks mentioned. Solium Capital is a recommendation of Stock Advisor Canada.