The technology sector in Australia has had a time lately. People who invest money have been really unsure about what to do. They are worried that artificial intelligence, or AI, will change everything. Some software companies that people used to love are now worth a lot less. This is because investors are not sure if these companies can still do well with AI around.
Even with all the uncertainty, some technology companies in Australia are doing just fine. They are actually using AI to make their businesses stronger. These are companies that are really good at what they do, have strong relationships with their customers, and have their own special data. They are finding ways to use AI to get ahead of their competitors.
A company that helps investors make decisions called Canaccord Genuity says that people are starting to see which software companies are really good and which ones might have trouble with AI. They think that companies that are at the centre of work will actually benefit from AI rather than lose out.
Canaccord Genuity talked about three ASX companies that are doing a job with AI. TechnologyOne Limited, Pro Medicus Limited and Catapult Sports Ltd. These companies are showing everyone that they can adapt to the technology and still do well. They are examples of businesses that are using AI to their advantage. Australia’s technology sector is watching these companies to see how they can also use AI to succeed.
TechnologyOne Monetises AI While Maintaining Growth
Figure 1: Technology One stock market performance in the past 52 weeks.
TechnologyOne is a name in Australia when it comes to software. They make cloud-based tools that help organisations like government departments and universities manage their work.
The company’s stock is worth a lot. It was recently trading at $31.34 per share. This means TechnologyOne is worth around $10.26 billion.
Even though the stock price has gone down by 23.8% in the year, TechnologyOne is still doing better than other technology companies. In fact, it has done 13.86% better than companies. People are starting to feel good about investing in TechnologyOne. The stock price has gone up by 11.69% in the month and 12.09% so far in 2026.
One company called Canaccord really likes TechnologyOne. They think it is an investment because TechnologyOne is always finding new ways to make money, especially with artificial intelligence.
TechnologyOne has a tool called Plus that uses artificial intelligence to help customers. This tool is part of the company’s software. It helps people do their work more efficiently. The people in charge of TechnologyOne think that 10% to 15% of their customers will start using Plus in the year. They hope that in four years, 75% of customers will be using it.
Artificial intelligence is not a problem for TechnologyOne. It is actually a way for them to make money. The company has a lot of customers, like governments and universities, and it is hard for them to switch to a different software provider. This makes it difficult for new software companies to compete with TechnologyOne.
Also Read: TechnologyOne Releases FY25 Sustainability Report Highlighting Major Emissions Cuts and SaaS+ Growth
Pro Medicus Builds on Global Healthcare Leadership
Figure 2: Pro Medicus stock market performance in the past 52 weeks.
Pro Medicus is one of the technology companies in Australia. They make software for healthcare imaging. Even though they have had a year on the stock market, they are still doing well.
The company’s stock was recently trading at $164.35 per share. This means Pro Medicus is worth around $17.17 billion. This makes them the biggest of the three companies that Canaccord talked about.
Pro Medicus stock has gone down 41.11% in the year. In the last month, it has gone up 26.81%. Pro Medicus has even done a little better than technology companies in the last year.
Pro Medicus makes special medical imaging software. Big hospitals and healthcare systems in Australia, North America and Europe use this software. It is a part of how they do things, so it is hard for other companies to compete with Pro Medicus.
Some people are worried that artificial intelligence will hurt Pro Medicus’ business. Canaccord does not think this is a big problem. Healthcare providers have to follow a lot of rules. They need systems that’re reliable, secure and work well with other things. It is hard and expensive to replace systems.
Pro Medicus has done well financially. They make all of their money from gross margins and most of their money from EBITDA margins. They have won some contracts in the last few years. These contracts will help Pro Medicus make more money.
Pro Medicus also has a lot of cash, which means it can invest in artificial intelligence technologies or buy other companies that can help it. This is good for Pro Medicus because they can keep making their software.
Also Read: Pro Medicus Locks In $16M Ohio State Deal. What It Means for ASX: PME Investors?
Also Read: Inside the Pro Medicus 2026 Results
Catapult Sports Expands Global Opportunity
Figure: Catapult Sports stock market performance in the past 52 weeks.
Catapult Sports is a sports analytics company that people who study the market think is still in a place.
The company makes devices that athletes wear to track how they are doing and software that sports teams use to keep an eye on their players. These devices and software help teams make sure their players are not working hard and getting hurt.
Catapult Sports’ stock was recently trading at $3.14 per share, which means the whole company is worth about $970 million.
The stock price has gone down a lot over the year, falling 48.27 per cent, and it is down 24.34 per cent since the start of the year.
The people who study the market still think Catapult Sports has a lot of room to grow in the long term.
Now, Catapult Sports works with around 4,000 teams around the world. They think they could be working with more than 20,000 teams. One company that studies the market, Canaccord, thinks Catapult Sports will make a lot of money over the next three years.
They think this because more and more teams are starting to use Catapult Sports products, and the company’s getting better at running its business.
Catapult Sports is different from software companies because it makes devices that collect information that computers cannot make on their own. It also has a lot of data that it has collected over the years that helps coaches and teams make decisions. This makes it hard for other companies to compete with Catapult Sports.
Catapult Sports has a position in the market that is hard to challenge.
Quality Businesses Stand Out
The tech sell-off over the year has caused problems for many technology sector companies, but it has also shown a key difference. There is a difference between software companies that are more like bets and businesses that have strong, lasting advantages. These businesses have an edge that is hard to beat.
The tech sell-off has been tough on companies. It has separated the companies from the weak ones. Companies with competitive advantages are in a better position. The past year has been a challenge for the tech sector.
Disclaimer
This article is for informational purposes only and does not constitute financial, investment, or trading advice. Readers should conduct their own research and consider seeking independent financial advice before making any investment decisions. Share prices and market performance figures are subject to change, and past performance is not indicative of future results.
Sources
- https://www.marketindex.com.au/asx/tne?src=search-all
- https://www.marketindex.com.au/asx/pme?src=search-all
- https://www.marketindex.com.au/asx/cat?src=search-all
- https://www.fool.com.au/2026/06/12/these-3-asx-technology-stocks-can-prosper-in-uncertain-times/
Luke Carlino is a seasoned Copywriter, Content Strategist, and Social Media Manager specialising in Mining, Finance, and Business journalism. With more than a decade of industry experience, he brings rigorous editorial standards and commercial acuity to every project.
