While a cautious approach to investing could help safeguard your capital, it rarely delivers life-changing returns. Sometimes, unlocking true long-term upside means taking a bold stance on high-potential growth stocks.
On the TSX, a handful of innovative, under-the-radar stocks offer just that — the potential to grow 10-fold in the long run. These are companies with disruptive ideas and scalable business models that could reshape their sectors and reward investors handsomely over time.
In this article, I’ll highlight two top TSX-listed stocks that could deliver massive returns for bold investors with the patience and courage to hold on.
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MDA Space stock
Let’s now talk about the first bold TSX bet, MDA Space (TSX: MDA), that could deliver explosive returns in the years to come. This Toronto-based space technology company builds satellite systems, robotics, and geo-intelligence tools.
At the time of writing, MDA stock trades at $26.15 per share with a market cap of about $3.2 billion. Notably, the stock has more than doubled over the past year and nearly 182% in three years.
What’s fueling this momentum in MDA stock is its solid financial growth trend. In the first quarter of 2025, the company’s revenue surged 68% YoY (year over year) to $351 million, led by a massive jump in activity within its Satellite Systems business.
As a result, its adjusted quarterly EBITDA (earnings before interest, taxes, depreciation, and amortization) jumped 63% YoY to $68.6 million, even with a slight margin dip due to a change in its program mix. To add optimism, MDA’s adjusted net profit more than doubled in the latest quarter, hitting $37.2 million, helped by higher operating profit and stronger execution on large contracts.
And this growth streak doesn’t look like it’s slowing. MDA concluded the quarter with a record $4.8 billion backlog, giving solid visibility for the rest of 2025. With a new acquisition of SatixFy Communications in the works and demand rising fast for digital satellite systems, MDA is scaling up its reach across key global markets.
For investors looking to go big on a high-potential innovator in space tech, this TSX stock definitely deserves a closer look.
BlackBerry stock
Another bold pick from the TSX that I find really attractive right now is BlackBerry (TSX: BB). The Waterloo-based software firm mainly focuses on secure communications, embedded systems, and licensing. After rallying by 68% over the last six months, BB stock currently trades at $5.47 per share with a $3.3 billion market cap.
In the fourth quarter (ended in February) of its fiscal year 2025, BlackBerry’s revenue rose slightly sequentially to US$141.7 million. More importantly, its QNX and Secure Communications segments both managed to beat expectations, even though QNX’s margins slipped a bit due to an unfavourable product mix.
Nevertheless, BlackBerry’s adjusted quarterly EBITDA also rose on a YoY basis to US$21.1 million. Similarly, its operating cash flow also impressed, climbing by $57 million from a year ago.
The most important factor that makes this growth stock really exciting is its focus on futuristic tech trends. It’s partnering with large tech giants like Microsoft, Intel, and AMD to expand its reach in automotive software and artificial intelligence (AI)-powered embedded systems. And with a growing QNX royalty backlog and deeper government ties, BlackBerry has the potential to deliver bold returns over the long term.
