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This is the kind of revenue acceleration that most companies can only dream of.
Three Kelowna companies have landed themselves on the list of Canada's Top Growing Companies with three-year revenue surges between 178% and 243%.
That's astounding when healthy growth for a business is considered to be around 10% annually or 30% over three years.
The Report on Business section of Canada's national newspaper, The Globe and Mail, commissioned Canada's Top Growing Companies list and accepted entries from businesses with speedy expansion.
Criteria included that companies be Canadian-run, have at least $2 million in annual revenues and provide financial documentation for the years 2021, 2022 and 2023 in order to compile the three-year revenue growth rate.
A total of 416 companies with three-year growth of 51% or greater made the list.
Photo credit: Avant
Avant Brands is a Kelowna-based grower and seller of small-batch cannabis products.
The first Kelowna company on the list at No. 182 is Avant Brands, a grower and seller of handcrafted, small-batch cannabis products under names like Blkmkt, Tenzo, Treehugger, GreenTech and Cognoscente.
Avant's three-year revenue growth was 243%, it has 200 employees and falls into the $25-to- $50 million in annual sales category.
Avant also recently bought Flowr Okanagan, which has grow and processing operations in Lake Country.
This is Avant's second year on the list.
Photo credit: WASP
Randy Cowling is the president of WASP Manufacturing, which makes and distributes wildfire protection equipment.
Next up is Kelowna-based WASP Manufacturing, at No. 217, which makes and distributes wildfire protection equipment for firefighters and homeowners, including hoses and sprinklers, trailers and pumps.
"This achievement reflects the dedication of our exceptional staff and the unwavering suppot of our valued customers over the past 13 years," said WASP president Randy Cowling.
"We take immense pride in delivering outstanding service and this recognition inspires us to continue exceeding expectations."
WASP had three-year revenue growth of 198%, has 10 employees and falls into the $5-to-$10 million in annual sales category.
It's WASP's third straight year on the list.
Photo credit: Blaze King
Decisive Dividend Corporation is an acquisition-oriented company that owns Blaze King in Penticton, which makes wood stoves and gas-burning fireplaces.
On the list at No. 234 is Kelowna-based Decisive Dividend Corporation with three-year revenue gains of 178%.
Decisive is an acquisition-oriented company focused on buying and operating quickly expanding businesses like wood stove and fireplace manufacturer Blaze King in Penticton, fuel tank and industrial parts maker Northside Industries in West Kelowna, agriculture sprayer manufacturer Slimline in Penticton and Procore International, which makes radiators for mining, oil and gas and road construction heavy equipment.
Decisive has 523 employees and falls into the $100-to-$250 million in annual sales category.
It's Decisive's first year on the list.
The fastest growing company in the country and No. 1 on the list is Calgary-based NEO Financial, which provides tech-driven consumer banking products such as credit cares, high-interest savings accounts, investments and mortgages.
NEO's three-year revenue growth was a dizzying 38,431%.
NEO has 750 employees and falls into the $75-to-$100 million in annual sales category.
As expected, most of the companies on the list are from Canada's three biggest cities -- Toronto, Montreal and Vancouver.
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