Top 3 ASX growth stocks to buy now

Investors who want exposure to ASX growth stocks should focus on companies that have large addressable markets, solid balance sheets and upcoming catalysts that can significantly increase earnings over time.

These three ASX growth stocks fit that description very well which gives them immense potential for value creation moving forward.

NEXTDC Limited (ASX: NXT) 

NEXTDC Limited is a solid pick among ASX growth stocks right now because strong demand for data centres will support growth and current market capitalisation is $7.96 billion.

The company in 1H26 reported total revenue of $231.8 million which was up 13% year-on-year while net revenue of $189.2 million also rose 13% and underlying EBITDA increased 9% to $115.3 million which shows solid operating performance.

Key operating metrics show very strong demand because contracted utilisation reached 416.6MW while billing utilisation was 119.8MW and the forward order book of about 297MW is expected to convert into revenue over the next few years.

The company in FY26 expects net revenue between $390 million and $400 million while underlying EBITDA is expected to be between $230 million and $240 million.

The balance sheet is strong because total assets are about $7 billion while available liquidity is $4.2 billion which gives enough capital to fund the large development pipeline and future growth projects.

Arafura Rare Earths Limited (ASX: ARU) 

Arafura Rare Earths Limited  deserves attention among ASX growth stocks because the stock has risen 8.5% in the past one week and the company is progressing funding and development of the Nolans Rare Earths Project which is important for global rare earth supply chains.

The balance sheet is stronger as cash increased to $571 million while total assets rose to about $702 million which supports the funding needs of the project.

Key project metrics show progress because the Nolans Project has three binding offtake agreements that cover 66% of planned production and the total planned NdPr production is 4,440 tonnes per year.

The outlook remains positive because rare earth prices especially NdPr have been rising and the company is targeting a final investment decision in FY2026 which could become a major catalyst for future growth and project development.

TechnologyOne Limited (ASX: TNE) 

TechnologyOne Limited has shown excellent operational growth compared to other ASX growth stocks and the company in FY25 reported a record profit before tax of $181.5 million which was up 19%.
Annual recurring revenue rose 18% to $554.6 million and the business recorded a Rule of 40 score of 59% which puts it among the best run global SaaS companies.

Free cash flow increased 55% to $184.2 million and the company ended the year with $319.6 million in cash and no debt which shows that it maintains a very strong balance sheet.

Management has upgraded FY26 guidance and now expects profit before tax to grow between 18% and 20% instead of the earlier 13% to 17% range which shows higher expectations going forward.

TechnologyOne focuses on mission critical sectors such as local governments and the company has set a target of more than $1 billion in ARR by FY30 which is expected to come from SaaS+ expansion and growth in the UK market.

(Source: Company Announcements)