ASX Growth Stocks: Companies Showing Strong Momentum
Some companies grow because they are entering a new market. Others grow by improving the businesses they already have.
For me, the most interesting growth shares are usually the ones showing progress in more than one area. That could mean higher revenue, stronger customer demand, new products, or an expansion into a larger market.
Here are three ASX growth companies that have recently reported developments worth watching.
PRL Global Limited (ASX: PRL)
PRL Global is a business that operates across mining, fertilisers and logistics.
The company recently reported FY2026 revenue of more than $2.26 billion, which was a 52.5% increase from the previous year. Net profit after tax attributable to members rose to $13.7 million, while earnings per share increased by 30% to 12.36 cents.
The company also increased its ordinary dividend from 4 cents per share to 5 cents.
Those numbers suggest that PRL is not just growing its revenue. It is also improving its profitability.
What interests me is the way the company is developing several parts of the business at the same time. Fertiliser volumes from Liven Nutrients reached more than 2.5 million tonnes, while revenue from Australian mining increased by 35%.
PRL is also building out its logistics operations.
The company acquired Ardmore in September 2025 for $14.5 million. Its first shipment was completed just 72 days later, with more than 25,000 tonnes moved. Two further shipments then set new company records.
PRL has since announced agreements covering road and rail haulage, storage, ship loading and handling. One of the rail agreements runs for 10 years, which could provide the business with a more stable foundation for future growth.
For me, the main attraction is that PRL’s growth is not coming from just one product or one customer. The company is expanding through higher volumes, acquisitions and better logistics capability.
The risk is that operating across several different segments can make the business more difficult to manage. Investors will want to see whether PRL can keep growing while protecting its margins.
BlinkLab Limited (ASX: BB1)
BlinkLab is developing digital diagnostic tools for conditions including ADHD and autism.
The company recently announced results from a European ADHD study involving children between six and 17 years old. The study reported 82% sensitivity and 83% specificity.
These results do not mean the product is ready for widespread use yet. However, they do suggest that BlinkLab’s technology may have potential in the ADHD diagnostic market.
The study was completed with Mental Care Group, and BlinkLab retained the study data and intellectual property. The results are expected to help guide the development of BlinkLab Dx2 for ADHD and autism.
The company is now preparing for a possible pilot study in the United States. If that goes well, BlinkLab could move towards a larger FDA registrational study, although this will depend on regulatory discussions and the outcome of the pilot.
There may also be opportunities in Europe under the EU Medical Device Regulation.
What I find interesting is that BlinkLab is not only looking at childhood diagnosis. It has also discussed possible applications in adult ADHD, monitoring symptoms over time, measuring treatment response and supporting ADHD drug development.
The company raised $17.5 million at 65 cents per share to fund its development plans, including regulatory work, platform development and commercial preparation.
BlinkLab also received a US patent that is expected to remain in place until 2041. It has added collaborations with ESPOCH and Erasmus University Medical Center.
The opportunity here is potentially significant, but there is still a long way to go. Clinical technology companies depend on good trial results, regulatory approval and commercial adoption.
That means BlinkLab could have strong growth potential, but it also carries more uncertainty than an established business such as PRL Global.
Decidr AI Industries Ltd (ASX: DAI)
Decidr AI Industries is focused on artificial intelligence software and business automation.
The company reported annualised exit-rate revenue of $13.6 million at the end of FY2026. This was 1.7 times the March exit rate and 7.5 times the figure from the prior corresponding quarter.
Statutory revenue for the year was $4.7 million, almost double the FY2025 result.
The company has now reported six consecutive quarters of growth in its annualised exit-rate revenue. That suggests customer demand for its products is continuing to build.
However, Decidr is still loss-making. It reported a net loss after tax of $33.1 million for the year.
This is an important point for investors to consider. Strong revenue growth can be encouraging, but the company still needs to show that it can eventually turn that growth into sustainable profits.
Decidr ended the year with $23.4 million in cash, compared with $17.2 million at the end of March. It also held trade receivables of $1.4 million.
During FY2026, Decidr acquired the remaining 49% of Decidr.ai, giving it full ownership. The company also used Sugarwork to establish a base in the United States and expand its knowledge-capture platform.
After the end of the financial year, Decidr acquired Rumi.ai, with its engineering team joining Sugarwork.
What interests me is the opportunity to build a wider AI software business rather than rely on just one product. DecidrOS has also moved from beta in October 2025 into early commercial use.
The challenge will be execution. The AI market is attracting plenty of competition, and Decidr will need to keep growing revenue while controlling its expenses.
FY2026 Financial and Operational Comparison
Foolish takeaway
If I were looking at ASX growth stocks today, I would focus on businesses that have a clear reason to keep expanding.
PRL Global is growing through mining, fertiliser and logistics operations. BlinkLab is developing technology that could address a large healthcare need. Decidr AI is benefiting from rising interest in business automation and artificial intelligence.
All three companies are at different stages, so they also carry different levels of risk.
PRL is the more established business, while BlinkLab and Decidr still need to prove more about their commercial models. For that reason, investors should not look only at recent growth figures. They should also consider cash levels, funding needs, competition and the next major milestone for each company.
(Source: Company Announcements)
