If you get in early on a growth stock that’s backed by sound fundamentals, disruptive potential, and a clear roadmap to profitability, the rewards could significantly outperform broader market averages. I consider these types of investments to be ideal for Foolish Investors targeting financial independence or early retirement.
In this article, I’ll highlight three Canadian stocks that could help early investors build serious wealth — and retire in style.
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MDA Space stock
The first top growth stock on the TSX you can consider right now is MDA Space (TSX: MDA). The company builds satellites, robotics, and geo-intelligence systems used in everything from communications to space exploration.
MDA stock is currently trading at around $13.40 per share, giving it a market cap of roughly $1.6 billion. While it doesn’t pay a dividend, the story here is all about upside potential.
Over the past year, the stock has gained more than 50% as investors respond to its solid earnings and strong contract wins. In the first quarter, MDA posted $351 million in revenue, reflecting a 68% YoY (year-over-year) jump, and booked $803.9 million in new orders. That momentum pushed its backlog to $4.8 billion.
For long-term investors focused on retirement planning, MDA Space could be a great stock that has the potential to keep delivering for years to come.
Lightspeed stock
Next up on this list of potential retirement game-changers is Lightspeed Commerce (TSX: LSPD). This Montreal-based software firm offers a commerce platform that helps retailers and restaurants manage everything from point-of-sale systems to payments and inventory. It’s currently trading at $13.74 per share, giving it a market cap of about $1.9 billion.
In its fiscal year 2025 (ended in March), the company crossed the billion-dollar mark in revenue for the first time, hitting US$1.08 billion, up 18% YoY. Its subscription and transaction-based revenue both climbed with the help of strong customer adoption in its key North American and European markets. Similarly, its adjusted earnings also saw big improvements as Lightspeed focused on cutting operating costs.
With plans to expand its outbound sales team and boost software investments by over 35%, Lightspeed is doubling down on innovation. That push includes a new artificial intelligence (AI)-powered website builder, currently in beta, which lets retailers create custom online stores from just a screenshot — no coding required. Given such growth initiatives, Lightspeed’s long-term growth outlook looks impressive.
BlackBerry stock
Another top company to keep on your radar if you’re eyeing growth stocks with retirement in mind is BlackBerry (TSX: BB). This Waterloo-based software firm focuses on intelligent security software and services for enterprises and governments.
After rallying 30% in the last year, BB stock is currently trading around $5.35 per share with a market cap of $3.2 billion.
In its latest quarter ended in February 2025, BlackBerry posted US$141.7 million in revenue, which beat expectations but still reflected an 18% drop from a year ago. This dip came mainly from lower licensing revenue.
Despite that, the software firm delivered a surprise upside in profitability, with its adjusted quarterly EBITDA (earnings before interest, taxes, depreciation, and amortization) hitting US$21.1 million. It also improved its operating cash flow by US$57 million on a YoY basis.
But what’s even more promising for long-term investors is how BlackBerry is aligning itself for the future with deeper AI partnerships and its QNX platform expanding into robotics and autos. For those planning ahead, this growth stock could be a strong addition to a retirement-focused portfolio.
