Twenty-one fast-growing Texas companies scored spots on this year’s Deloitte Technology Fast 500, a ranking that recognizes revenue growth over a three-year period.
Eight of the companies are based in North Texas, with Richardson’s Fuse Medical placing highest among local firms. Its revenue growth from 2016 to 2019 was 3,935%, putting it 43rd on the list.
Fuse Medical, which makes and distributes orthopedic and spinal medical devices, moved up 46 spots from last year’s ranking. Its annual revenue rose from $567,607 in 2016 to $22.9 million last year, according to regulatory filings. And last year’s revenue was even down 13% from $26.3 million in 2018.
It’s the company’s third straight year in the Deloitte ranking. Other North Texas companies in the ranking include some of the region’s best-known growth stories — Alkami, o9 Solutions, Zix and Nexstar.
Overall, companies in Deloitte’s ranking reported revenue growth ranging from 175% to 106,508% for the three-year period, with median growth of 450%.
“For more than 25 years, we’ve been honoring companies that define the cutting edge, and this year’s Technology Fast 500 list is proof positive that technology — from software and digital media platforms, to biotech — truly does permeate so many facets of our lives,” said Paul Silverglate, vice chairman of Deloitte and the firm’s U.S. technology sector leader.
The full ranking can be viewed here.
To be eligible, companies must own proprietary intellectual property or technology that is sold to customers in products that make up a majority of operating revenue. Companies also must have base-year revenue of $50,000 or more and current-year revenue over $5 million.