In this article, we will take a detailed look at High Growth Canadian Stocks to Buy.
For more than a decade, U.S. equities have dominated global markets, but that leadership has begun to soften in 2025. Valuation gaps highlight the shift: U.S. stocks ended 2024 trading roughly 54% above global peers, a premium that narrowed to about 42% by mid-April. History shows that market leadership rotates over time, and the current U.S.-led cycle, which began after the Global Financial Crisis, has already lasted longer than most, raising questions about how sustainable that dominance will be.
The U.S. advantage has traditionally rested on stronger growth, higher corporate profitability, and investor confidence, yet these pillars face increasing pressure from policy uncertainty, moderating consumer sentiment, and rising geopolitical risks. Forward-looking estimates from J.P. Morgan suggest developed international markets could outperform U.S. equities over the next decade, with projected annual returns of 8.1% for EAFE markets versus 6.7% for the U.S. While not forecasts, these assumptions reflect valuation rebalancing and shifting earnings dynamics that favor non-U.S. exposure.
For investors seeking diversification, Canadian equities offer a compelling way to reduce reliance on U.S. mega-cap concentration while gaining exposure to different economic drivers, including commodities, financials, infrastructure, and energy. Canada’s market structure can help balance portfolios during periods of U.S. volatility, and currency movements may further enhance returns if the U.S. dollar weakens. Adding Canadian stocks alongside other global holdings can smooth long-term performance and provide access to resilient, cash-generative businesses that benefit from distinct policy and economic cycles.
With this context in mind, we have compiled a list of 9 high-growth Canadian stocks to buy. From e-commerce to precious metals and cannabis to cryptocurrency, these stocks belong to a range of industries.
Stocks
Our Methodology
For this article, we used the Finviz stock screener to compile a list of the top Canadian stocks. We then selected 9 stocks that had a revenue growth of over 20% in the past five years. The stocks are ranked in ascending order of their revenue growth. We also included the hedge fund sentiment for each stock, which was sourced from Insider Monkey’s database, as of Q3 2025.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
9 High Growth Canadian Stocks To Buy
9. Draganfly Inc. (NASDAQ:DPRO)
5-year Revenue Growth: 35.71%
Number of Hedge Fund Holders: 6
As of January 15, analyst sentiment remains constructive about Draganfly Inc. (NASDAQ:DPRO), with Northland analyst Michael Latimore initiating coverage on the company with an Outperform rating and a $20 price target. Latimore emphasized strong global and North American demand for intelligent drone systems, noting that Draganfly’s open-architecture platforms and deep industry experience position it well for large procurement programs. He expects this demand to translate into significant growth, estimating that company revenue could more than double annually in 2026 and 2027 as programs scale.
During Draganfly’s 2025 Q3 earnings call, the company reported revenue of $2.155 million, representing a 14.4% year-over-year increase, alongside continued momentum in defense, public safety, and enterprise markets. The company strengthened its military and government positioning through new leadership appointments, a collaboration with Paladin AI, and a notable order from the U.S. Army. Draganfly Inc. (NASDAQ:DPRO) also expanded its commercial footprint through partnerships with Drone Nerds, Global Ordinance, and a Fortune 50 telecom company, broadening distribution and reinforcing its global market presence.
Operationally, Draganfly Inc. (NASDAQ:DPRO) announced the deployment of its drones integrated with Smith Myers’ ARTEMIS Mobile Phone Detection & Location System for search-and-rescue missions, beginning with SAR Sweden. Management highlighted the rapid integration and flexibility of these platforms, positioning them for a wide range of demanding operational roles across public safety and emergency response, and reinforcing the company’s focus on mission-critical, life-saving applications.
Headquartered in Saskatoon, Canada, Draganfly Inc. (NASDAQ:DPRO) is a leading developer of drone solutions and systems with more than 22 years of experience delivering advanced drones, software platforms, and AI-driven technologies.
8. Cronos Group Inc. (NASDAQ:CRON)
5-year Revenue Growth: 37.71%
Number of Hedge Fund Holders: 16
On January 14, a Bernstein analyst reiterated a Hold rating on Cronos Group Inc. (NASDAQ:CRON) and maintained a price target of $2.30, in line with the broader analyst consensus, which also stands at Hold with the same target. Despite the neutral outlook, Cronos continues to stand out for its exceptionally strong balance sheet, carrying no debt and holding approximately $824 million in cash, cash equivalents, and short-term investments—one of the most robust liquidity positions in the cannabis industry.
During its third-quarter 2025 earnings call, Cronos reported a record quarter, posting consolidated net revenue of $36.3 million, representing a 6% increase year over year. Performance was driven in part by the continued strength of the Spinach brand, which has become one of Canada’s leading cannabis brands with a 4.5% overall market share and particularly strong traction in the edibles and vape categories. Cronos Group Inc. (NASDAQ:CRON) also announced the completion of its Phase 2 expansion at GrowCo, a development expected to ease flower supply constraints and support additional growth momentum in 2026.
Cronos Group Inc. (NASDAQ:CRON) is a globally diversified, vertically integrated cannabis company with operations spanning four continents. The company owns and operates Canadian licensed production facilities, regulated under Health Canada’s framework for medical cannabis production.
7. Docebo Inc. (NASDAQ:DCBO)
5-year Revenue Growth: 39.24%
Number of Hedge Fund Holders: 14
Another high-growth Canadian stock to buy, Docebo Inc. (NASDAQ:DCBO) is an education technology company established in 2005. The company is known for Docebo Learn, its core learning management system offering. Docebo lists its shares on both the Toronto Stock Exchange and the Nasdaq Global Select Market.
On January 20, Needham analyst reiterated a Buy rating on Docebo Inc. (NASDAQ:DCBO) and set a price target of $38.00. Overall analyst sentiment on the stock remains highly positive, with a Strong Buy consensus and an average price target of $35.33, implying upside potential of roughly 84%. Craig-Hallum has also reaffirmed its Buy rating on the shares.
During its Q3 2025 earnings call, Docebo Inc. (NASDAQ:DCBO) highlighted plans to continue growing its base of customers generating more than $100,000 in annual contract value, underscoring solid momentum across the enterprise and mid-market segments. Management pointed to notable new customer wins such as Veolia, alongside expanded adoption within existing clients, including Amazon, as evidence of sustained demand and deeper platform penetration.
Docebo Inc. (NASDAQ:DCBO) also announced the introduction of a credit-based pricing model for its AI-powered modules, including AI Virtual Coach and AI Video Presenter. This approach not only enhances flexibility for customers but also creates a clear pathway for incremental monetization over time, while reinforcing Docebo’s broader strategy of embedding artificial intelligence more deeply across its product suite.
6. Equinox Gold Corp (NYSEAMERICAN:EQX)
5-year Revenue Growth: 39.98%
Number of Hedge Fund Holders: 30
On January 14, Equinox Gold Corp (NYSEAMERICAN:EQX) CEO Darren Hall highlighted the company’s record 2025 performance, reporting gold production of 922,827 ounces, underscoring the impact of its expanded asset portfolio and strong operational execution. He noted that this momentum is expected to carry into 2026, supported by a full year of production from the Valentine mine, continued improvements at Greenstone, and steady output from the company’s Nicaragua operations and the Mesquite mine in the United States.
Hall also emphasized Equinox Gold’s strengthening financial position, with cash rising 24% quarter over quarter to $430 million, even after absorbing $70 million in one-time legacy tax settlements in Mexico and Nicaragua and $75 million in debt repayment. Looking ahead, management plans to maintain disciplined capital allocation, prioritizing high-return investments such as Phase 2 expansions at Valentine, Castle Mountain, and Los Filos. Equinox Gold Corp (NYSEAMERICAN:EQX)’s development pipeline is expected to add approximately 450,000 to 550,000 ounces of incremental annual gold production in the years ahead, reinforcing its long-term growth outlook.
Overall, this record production, expanding mine portfolio, rising cash balance, and pipeline capable of adding a substantial amount of annual output position Equinox Gold Corp (NYSEAMERICAN:EQX) as a compelling high-growth Canadian stock with increasing cash flow and clear visibility into future production growth.
Equinox Gold Corp. (NYSEAMERICAN:EQX) is a Vancouver-based Canadian company that operates as a precious metals producer. Incorporated in December 2017 from the merger of Trek Mining, Newcastle Gold, and Anfield Gold, it places a primary emphasis on the acquisition, exploration, and development of gold and silver properties across the Americas.
5. Shopify Inc. (NASDAQ:SHOP)
5-year Revenue Growth: 41.27%
Number of Hedge Fund Holders: 91
Shopify Inc. (NASDAQ:SHOP) is one of the high-growth Canadian stocks to buy. Although the AI ‘bubble’ has not generally favored software stocks, Shopify has soared 48% in 2025 due to its sound (yet ironic) integration of AI agents within its interface. It is also one of the top software picks that will rebound in 2026, according to an Oppenheimer analyst, making it a strong buy today.
RBC Capital analyst Paul Treiber reiterated a Buy rating on Shopify Inc. (NASDAQ:SHOP) on January 19 and assigned a price target of $200.00. Overall analyst sentiment remains constructive, with Shopify carrying a Moderate Buy consensus and an average price target of $180.62, implying roughly 13% upside from current levels. Adding to the positive outlook, Scotiabank upgraded the shares to Buy in a January 8 report and also set a $200.00 price target.
Shopify Inc. (NASDAQ:SHOP) reinforced this outlook with strong operating performance in the quarter ended September 30, 2025, reporting 32% revenue growth and an 18% free cash flow margin, extending its streak to nine consecutive quarters of double-digit free cash flow margins. Leadership emphasized that Shopify’s ability to support everyone from first-time entrepreneurs to global brands is driving sustained growth, while consistent improvements in cash generation underscore the company’s operational maturity and resilience heading into peak retail periods.
Shopify Inc. (NASDAQ:SHOP) is a global commerce platform that enables businesses of all sizes to create, manage, and scale online and in-person stores without needing deep technical expertise. Founded in 2006, the company is headquartered in Ottawa, Ontario, Canada.
4. Bitfarms Ltd. (NASDAQ:BITF)
5-year Revenue Growth: 42.85%
Number of Hedge Fund Holders: 25
Bitfarms Ltd. (NASDAQ:BITF) is a North American energy and digital infrastructure company focused on high-performance computing and Bitcoin mining. Established in 2017, the company is headquartered in Toronto, Canada.
Strategically, Bitfarms Ltd. (NASDAQ:BITF) is accelerating its evolution beyond pure Bitcoin mining toward high-performance computing and AI infrastructure. The company plans to repurpose its Washington site and develop next-generation data centers designed to support NVIDIA’s Vera Rubin GPUs, positioning itself at the intersection of energy infrastructure and AI compute demand. This shift meaningfully diversifies revenue streams, reduces reliance on crypto-cycle volatility, and aligns Bitfarms with long-term structural growth in AI and data center capacity. Combined with rapid revenue growth, substantial capital flexibility, and exposure to secular AI tailwinds, Bitfarms presents an increasingly compelling investment opportunity for investors seeking leveraged upside to digital infrastructure expansion.
The company is preparing to redomicile in the United States, aligning itself with President Donald Trump’s ongoing support for physical bitcoin infrastructure projects. Trump has publicly stated his intention for the U.S. to become the global hub for bitcoin mining, a stance that has encouraged infrastructure investment and industry relocation to American soil. This strategic move by Bitfarms Ltd. (NASDAQ:BITF) reflects this broader trend, as it seeks to position itself at the center of a growing U.S. mining ecosystem.
In support of its transition, Bitfarms Ltd. (NASDAQ:BITF) recently appointed Edie Hofmeister as board chair, highlighting her experience guiding multinational companies through complex financial and corporate transformations, including NYSE and NASDAQ listings. Hofmeister emphasized that relocating the company’s headquarters to the United States will improve access to U.S. capital pools, broaden the investor base, and potentially enhance eligibility for inclusion in key stock indices.
With an average 5-year revenue growth of over 42% and an upside potential of 92.9%, Bitfarms Ltd. (NASDAQ:BITF) is fourth in the list of high-growth Canadian stocks to buy.
3. Lightspeed Commerce Inc. (NYSE:LSPD)
5-year Revenue Growth: 54.93%
Number of Hedge Fund Holders: 14
Lightspeed Commerce Inc. (NYSE:LSPD) is one of the high-growth Canadian stocks to buy. In a report released on January 12, Barclays analyst Raimo Lenschow maintained a Hold rating on the stock, setting a price target of $14.00. Looking ahead, the company’s next-quarter revenue is forecast at $311.29 million, with estimates ranging from $303.30 million to $317.20 million, compared with $316.28 million reported in the prior quarter. Over the past 12 months, Lightspeed has beaten sales expectations intermittently, while its performance over the last calendar year has broadly tracked in line with the overall industry.
During its second-quarter fiscal 2026 earnings call, Lightspeed Commerce Inc. (NYSE:LSPD) reported solid operating momentum, delivering 15% year-over-year revenue growth. Software revenue increased 9% year over year, while transaction-based revenue rose a stronger 17%, reflecting continued expansion in payments and commerce volumes. In particular, software revenue across North American retail and European hospitality markets climbed 20% year over year, supported by 15% growth in gross transaction volume and an improvement in payments penetration to 46%, up from 41% in the prior year.
The company also continues to invest in product innovation, introducing several AI-powered tools such as AI showroom features and AI-generated product descriptions. These enhancements are designed to strengthen the company’s omnichannel capabilities, improve merchant sales productivity, and support longer-term growth as Lightspeed Commerce Inc. (NYSE:LSPD) integrates artificial intelligence more deeply into its commerce platform.
Based in Montreal, Canada, Lightspeed Commerce Inc. (NYSE:LSPD) designs point-of-sale and e-commerce software solutions that serve retailers and hospitality businesses worldwide. Founded in 2005, the company built its platform to help merchants manage in-store and online operations through a unified, cloud-based system.
2. SNDL Inc. (NASDAQ:SNDL)
5-year Revenue Growth: 69.58%
Number of Hedge Fund Holders: 14
SNDL Inc. (NASDAQ:SNDL) is among the high-growth Canadian stocks to buy. The company operates in the Canadian adult-use cannabis market through a diversified business model that includes Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments. SNDL is also involved in the production, distribution, and sale of cannabis products, giving it exposure to multiple parts of the value chain. This diversified structure allows SNDL to balance performance across segments while navigating changing consumer demand and regulatory conditions.
On January 8, SNDL Inc. (NASDAQ:SNDL) completed the acquisition of five 1CM cannabis retail locations in Alberta and Saskatchewan, marking the first closing under its amended agreement with 1CM Inc. This initial step comes ahead of the planned addition of 27 Ontario-based stores, which remain subject to regulatory approvals and are expected to be finalized in subsequent closings. This acquisition is expected to further strengthen SNDL’s position in Canadian cannabis retail while supporting its long-term growth strategy.
In a strategic move to expand its retail footprint, SNDL announced on December 15, 2025, an amended agreement with 1CM Inc. to acquire 32 cannabis retail stores. The revised structure preserves the total cash consideration of $32.2 million but divides the transaction into two separate closings to align with regulatory approval requirements.
During the third quarter of 2025, SNDL Inc. (NASDAQ:SNDL) delivered a record quarterly free cash flow of $16.7 million and generated a positive cumulative free cash flow of $7.7 million over the first nine months of the year. Net revenue rose 3.1% year over year to $244 million, supported by strength in the Cannabis segment, which offset ongoing challenges within the Liquor Retail business. These results highlight the company’s improving cash generation and resilience despite broader market headwinds.
1. High Tide Inc. (NASDAQ:HITI)
5-year Revenue Growth: 74.74%
Number of Hedge Fund Holders: 10
High Tide Inc. (NASDAQ:HITI), founded in 2009, is Canada’s largest cannabis retailer and the country’s highest revenue-generating cannabis company, with an annualized revenue run rate of approximately $600 million.
In mid-December, High Tide Inc. (NASDAQ:HITI) also began positioning itself for potential U.S. expansion as the White House moved toward rescheduling cannabis and announced plans to test Medicare coverage for CBD products. Management has indicated it is exploring licensing the Canna Cabana brand in the United States and developing CBD offerings aligned with Medicare frameworks, which could provide an early pathway into the world’s largest cannabis-related market without immediate exposure to full federal legalization risks. To support this next phase of growth, the company reengaged an investor relations firm to strengthen market communications as it targets expanded opportunities across cannabis and CBD in both domestic and international markets.
The company further strengthened its leadership as Canada’s largest cannabis retailer by expanding its Canna Cabana footprint to 218 stores, deepening both its national market share and its rapidly growing loyalty base. This scale has helped propel the company to a $600 million annualized revenue run rate while supporting improved profitability, highlighting the operating leverage embedded in its retail-first, membership-driven model. At the same time, High Tide Inc. (NASDAQ:HITI) took a meaningful step toward international diversification by entering Germany’s medical cannabis market, signaling ambitions that extend well beyond its Canadian core.
While we acknowledge the potential of HITI to be a high growth stock, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HITI and that has 100x upside potential, check out our report about this cheapest AI stock.
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