There is a group of ASX-listed companies that has delivered a lot of financial growth in recent times, yet the share prices of those businesses have dropped heavily in 2022.
A business may not necessarily be better value if it has fallen a lot. However, if the company is still growing then investors may simply be valuing the business more cheaply after the volatility seen in 2022.
With that in mind, here are two ASX shares that continue to grow their operations quickly.
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Pointsbet Holdings Ltd (ASX: PBH)
It has been a painful year for the Pointsbet share price, which has fallen around 65% in the 2022 year to date.
Pointsbet describes itself as a corporate bookmaker with operations in Australia, the United States, Canada and Ireland. It has developed a cloud-based wagering platform through which it offers clients sports and racing wagering products, advance deposit wagering on racing, and iGaming.
The ASX share is still seeing double-digit growth. It reported that for the three months to 31 March 2022, total turnover increased by 54% to $1.4 billion. The sports betting net win increased by 10% to $71.4 million, with an additional net win of $5.5 million from iGaming. That meant the total net win was up 18% to $76.9 million.
However, the US total net win declined 8% to $24.6 million after a 3.2 percentage point decline in the net win percentage.
In terms of cash active clients at the end of the quarter, Australian clients were up 47% year on year to 232,763 while North American cash active clients were 96% higher at 249,497.
Management continues to expect the Australian trading business to generate positive earnings before interest, tax, depreciation and amortisation (EBITDA) in FY22.
The Ontario market in Canada was scheduled to open on 4 April 2022. It had a market share of 4.3% of total sports betting app downloads.
Volpara Health Technologies Ltd (ASX: VHT)
Volpara is another ASX share that has experienced a heavy drop in 2022. In the calendar year to date, the Volpara share price has declined by around 30%.
The business describes itself as a health technology company. It has clinical functions that are used by screening clinics to provide "feedback on breast density, compression, dose and quality, while its enterprise-wide practice-management software helps with productivity, compliance, reimbursement and patient tracking".
Volpara is growing at a fast rate. In its quarterly update for the three months to 31 March 2022, it said that it achieved record quarterly cash receipts from customers of NZ$8 million (AU$7,237 million), up approximately 48% year on year.
Its annual recurring revenue (ARR) has now reached around US$22.2 million (AU$31.5 million) and its market coverage has reached over 35.5% of US women being screened.
The ASX healthcare share also says that its software as a service (SaaS) churn remains "low".
