Deloitte Announces 2011 Technology Fast 500™ Rankings
MAKO Surgical Corp. garners the top spot; Majority of the winners are from the western and northeastern regions of the US
NEW YORK, Oct. 19, 2011 /PRNewswire/ -- MAKO Surgical Corp., an orthopedic medical device company based in Fort Lauderdale, Fl., ranked No. 1 on Deloitte's 2011 Technology Fast 500™, an annual ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
MAKO Surgical Corp.'s fiscal year revenue of $44.29 million and five year fiscal growth rate of 70,211 percent topped this year's ranking which is based on the percentage of fiscal year revenue growth from 2006 to 2010.
"Deloitte's Technology Fast 500™ recognizes some of the most exciting technology companies in North America today," said Eric Openshaw, vice chairman and U.S. Technology, Media & Telecommunications leader, Deloitte LLP. "We are proud to honor MAKO Surgical Corp., and we congratulate all of the ranked companies for their extraordinary achievements."
The top ten ranked companies are as follows:
2011 Rank | Company | Sector | Revenue Growth (2006 to 2010) | City, State | |
1 | MAKO Surgical Corp. | Medical Equipment | 70,211 percent | Ft. Lauderdale, FL | |
2 | Accedian Networks | Communications/ Networking | 50,136 percent | Saint-Laurent, QC | |
3 | RTI Cryogenics Inc. | Clean Technology | 46,278 percent | Cambridge, ON | |
4 | Avigilon | Software | 38,796 percent | Vancouver, BC | |
5 | ServiceNow | Software | 32,048 percent | San Diego, CA | |
6 | NexJ Systems Inc. | Software | 29,161 percent | Toronto, ON | |
7 | Real Matters | Software | 28,265 percent | Markham, ON | |
8 | HubSpot | Software | 27,746 percent | Cambridge, MA | |
9 | AVI BioPharma, Inc. | Biotechnology/ Pharmaceutical | 25,483 percent | Bothell, WA | |
10 | ARIAD Pharmaceuticals, Inc. | Biotechnology/ Pharmaceutical | 19,875 percent | Cambridge, MA | |
Mark Jensen, managing partner of Deloitte's national venture capital services group, added, "During the 17 years Deloitte has published this list, some deeply entrenched patterns have evolved. Software companies have dominated year-over-year, and the western and northeastern regions of the U.S. have consistently attracted innovative, high growth companies."
West region yields highest concentration of Fast 500™ companies, followed by Northeast
Overall, the West remains home to the highest concentration of Technology Fast 500™ companies (37 percent), trailed by the Northeast (24 percent), Canada (15 percent), Southeast (12 percent), Midwest (6 percent), and Southwest (6 percent).
Region | Percent of List | Fastest-growing Company in the Region | City, State | |
West | 37 percent | ServiceNow | San Diego, CA | |
Northeast | 24 percent | HubSpot | Cambridge, MA | |
Canada | 15 percent | Accedian Networks | Saint-Laurent, QC | |
Southeast | 12 percent | MAKO Surgical Corp. | Ft. Lauderdale, FL | |
Midwest | 6 percent | Gevo, Inc. | Englewood, CO | |
Southwest | 6 percent | SoftLayer | Dallas, TX | |
Software sector dominates – again
Five of the top 10 companies in this year's rankings are from the software industry, including Avigilon (No. 4), ServiceNow (No. 5), NexJ Systems Inc. (No. 6), Real Matters (No. 7) and HubSpot (No. 8).
The software sector comprises 39 percent of the overall list with 194 companies, followed by biotechnology (15 percent), communications/networking (12 percent) and Internet (11 percent). Medical equipment, scientific/technical instrumentation, semiconductor, computers/peripherals, media/entertainment and clean technology companies round out the remaining 23 percent of the list.
The percentage of companies from industry sectors are represented on Deloitte's Technology Fast 500™ as follows:
Sector | Percent of List | Fastest-growing Company in the Sector | City, State | |
Software | 39 percent | Avigilon | Vancouver, BC | |
Biotechnology/Pharmaceutical | 15 percent | AVI BioPharma, Inc. | Bothell, WA | |
Communications/Networking | 12 percent | Accedian Networks | Saint-Laurent, QC | |
Internet | 11 percent | SAY Media, Inc. | San Francisco, CA | |
Medical Equipment | 7 percent | MAKO Surgical Corp. | Ft. Lauderdale, FL | |
Clean Technology | 5 percent | RTI Cryogenics Inc. | Cambridge, ON | |
Semiconductor | 4 percent | MaxLinear, Inc. | Carlsbad, CA | |
Media and Entertainment | 3 percent | Collective | New York, NY | |
Computers/Peripherals | 2 percent | PlumChoice | Billerica, MA | |
Scientific/Technical Instrumentation | 2 percent | Digital Ally, Inc. | Overland Park, KS | |
Technology Fast 500 Ranking Methodology
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America. Ranking is rounded to the nearest percentage point. Revenue growth is calculated as follows: [(FY'2010 revenue – FY'2006 revenue)/ FY'2006 revenue] x 100. For example, a company with reported revenues of $350,000 in 2006 and $7,500,000 in 2010 would have fiscal year revenue growth of 2,043 percent during the period from 2006 to 2010.
The ranking is compiled from nominations submitted directly to the Technology Fast 500™ Web site, and public company database research conducted by Deloitte. Deloitte has not audited the ranking and, accordingly, does not express an opinion or any other form of assurance on it. Some companies that may be eligible to appear on the ranking are not included because they did not submit the required information or otherwise declined to participate.
For additional detail on the Technology Fast 500™ including the complete list and qualifying criteria, visit www.fast500.com.
As used in this document, "Deloitte" means Deloitte & Touche LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
SOURCE Deloitte
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