A glance at eight ASX-listed SaaS stocks

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A glance at eight ASX-listed SaaS stocks

 A glance at eight ASX-listed SaaS stocks
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  • SaaS is a cloud-based service in which, instead of downloading software, one can gain access to an application through an internet browser.
  • COVID-19 pandemic has made SaaS an in-demand service, with several SaaS providers gaining popularity as many businesses have moved their operations online.
  • SaaS offers considerable benefits, including accessibility, compatibility, as well as operational management.
  • Xero Limited, WiseTech Global, Infomedia, Whispir and Dubber are some of the key SaaS companies.

Software as a Service, or SaaS, is a cloud-based service that has grown in popularity as subscription media. As a result, ASX SaaS shares have become a hot area in the past few years. Expanding business through a SaaS revenue model can certainly be a very lucrative option. Companies can opt for such a model via collaboration with a well-known ASX-listed SaaS player.

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In the case of SaaS, instead of downloading software, one can access an application through an internet browser. Some of the key benefits of SaaS include accessibility, compatibility, as well as operational management. Additionally, SaaS models offer lower upfront costs than traditional software download and installation processes, increasing the availability of SaaS models to a comprehensive range of businesses.


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Moreover, the COVID-19 pandemic has made some SaaS providers popular among the market participants, as many businesses have moved their operations online, perhaps permanently, for some time.

ALSO READ: Five exciting ASX technology players of 2021

With this backdrop, let us look at eight ASX-listed SaaS stocks -

Xero Limited (ASX:XRO)

New Zealand-based Xero Limited is one of the fastest-growing SaaS companies across the globe. The cloud-based accounting software of Xero connects individuals with the correct numbers anywhere, on any device, at any time. In FY2021, XRO shares delivered an outstanding return of 50%.

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Whispir Limited (ASX:WSP)

Melbourne-headquartered global SaaS company Whispir provides a communications workflow platform that automates interactions between businesses and people.

In its quarterly update for Q3 FY21, the Company highlighted that it is on track to meet or exceed FY21 targets following the strong year-to-date performance. WSP anticipates FY21 revenue in the range AU$49-AU$51 million, up 25-30% on FY20.

Infomedia Limited (ASX:IFM)

ASX-listed technology company Infomedia Limited is a global provider of SaaS solutions catering to the automotive industry. On 1 June 2021, the Company completed the acquisition of the US-based e-commerce platform SimplePart, which was initially announced on 4 May 2021.

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Jonathan Rubinsztein, CEO of Infomedia, commented-

Moreover, the Company disclosed that growth in organic monthly recurring revenue, with the inclusion of SimplePart revenue, provides robust momentum leading into FY22.

DO READ: Top 10 ASX players from the red hot tech sector

Damstra Holdings Limited (ASX:DTC)

A global leader in enterprise protection software, Damstra offers Enterprise Protection Platform (EPP) to integrate an extensive range of modules and products.

On 7 July 2021, the Company updated that its subsidiary, Damstra Technology Pty Ltd, entered a Master Services Agreement (extended multi-year) with existing customer NBN Co Limited (nbn).  The Company anticipates revenue of up to AU$7 million for the life of this contract.

Dubber Corporation Limited (ASX:DUB)

Information technology sector player Dubber Corporation is engaged in providing services to unlock the potential of voice data from any conversation or call.

On 3 June 2021, Dubber Corporation disclosed that Cisco Unified Communications Manager Cloud (UCM) and Cisco Webex Calling will now incorporate Dubber’s call recording as part of Cisco Webex as well as UCM services without any additional cost to users.

Commenting on this, Steve McGovern, CEO of Dubber, said-

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Altium Limited (ASX:ALU)

ASX-listed multinational software corporation Altium focuses on electronics design systems for 3D PCB design and embedded system development.  In its investor presentation updated on 18 June 2021, the Company highlighted that the Altium 365 cloud platform adoption has increased. There are now over 13,100 monthly active users and more than 6,300 monthly active accounts.

Martin Ive, CFO of Altium, commented:

ALSO READ: Which are the top five ASX-listed technology dividend stocks?

Pro Medicus Limited (ASX:PME)  

Healthcare mid-cap player Pro Medicus offers a complete range of software and services to hospitals, health care groups, as well as imaging centres worldwide.

On 3 June 2021, Pro Medicus and Mayo Clinic entered into a multi-year collaboration agreement. With this multi-year research agreement, Mayo Clinic will leverage the abilities of the Visage AI Accelerator platform. 

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WiseTech Global Limited (ASX:WTC)

An information technology company WiseTech Global provides software solutions to the logistics industry across the globe. The Company is expanding into more products, deeper functionality, geographies, and adjacencies, driving the long-term growth and market position of WiseTech with each innovation and acquisition.

WiseTech shares delivered an excellent return of 72% in FY2021.

MUST READ: Why is this ASX tech & hardware equipment company’s share price up 1500% in 5 years?


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