Investors should put these 2 top ASX tech shares on the watchlist

ASX tech shares can be some of the most exciting investments to own because of their ability to deliver a strong profit margin and rapid revenue growth.

Businesses that deal in physical products and services can be limited by not having enough warehouses, stores, logistics or manufacturing capabilities. Software companies don’t necessarily face those sorts of physical growth limitations. Software is very replicable.

Instead, software usually has low costs, enabling the business to have a strong gross profit margin. Gross profit can then be used for growth activities (such as marketing or software investment).

There are plenty of compelling businesses to consider and I’m going to focus on two investments.

Airtasker Ltd (ASX: ART)

Airtasker describes itself as Australia’s leading online marketplace for local services, connecting people and businesses who need working doing with people who want to work.

The company certainly ticks the box when it comes to a high gross profit, with the margin above 90%. This is extremely useful, in my view, due to how this can lead to good growth of earnings before interest, tax, depreciation and amortisation (EBITDA).

The ASX tech share continues to grow in Australia at a good pace – in the first quarter of FY26, Airtasker marketplace revenue grew 20.5%.

A key part of the company’s growth plans is expanding in the UK and the US, which are larger markets than Australia. While these two markets are much smaller than the Australian division at this stage, they are growing rapidly.

In the first quarter of FY26, Airtasker UK revenue jumped 83.3% and Airtasker USA revenue soared 609.1%. Airtasker continues to put significant efforts and financial commitments into investing for growth in the UK and the USA. 

Siteminder Ltd (ASX: SDR)

Siteminder may be one of the most exciting ASX tech shares around, in my view.

The company provides software for hotels around the world so they can generate as much revenue as possible by connecting with booking platforms, changing prices and hotel operations.

There are tens of thousands of hotels around the world, so Siteminder has a large addressable market to aim at. Pleasingly, it continues to win more subscribers each year, with larger being a greater focus in recent times.

Siteminder has a longer-term goal of growing its revenue annually by 30%, which is an excellent growth rate to help the business become much larger at a fast pace.

Thanks to the software nature of what it provides subscribers, the business is seeing a rising gross profit margin, operating profit (EBITDA) margin, free cash flow margin and net profit margin.

The company is focused on scaling its growth through the smart platform adoption, product expansion and global market penetration. The smart platform remains early in its adoption and monetisation curve, providing significant long-term potential across its global footprint.

If the ASX tech share continues growing revenue rapidly, then it has a very strong future ahead.

The post Investors should put these 2 top ASX tech shares on the watchlist appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has positions in SiteMinder. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended SiteMinder. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Airtasker. The Motley Fool Australia has positions in and has recommended SiteMinder. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.