Fast 500 | Highlights and Trends

This analysis provides a recap of the 2005 Technology Fast 500. Use the anchor links below to visit a specific part of the analysis.

Top 5 Winners on 2005 Technology Fast 500
Repeat Winners
Growth Percentages
Geography of the Fast 500
Region with the Greatest Average Percent Growth Rate
Growth by Region
Regional Breakdown
Fast 500 Winners in Top Technology Centers (in order of greatest percentage)
Industry Breakdown
Average Percent Growth by Industry
Repeat Winners From 2004 Fast 500’s Top Ten
Largest Companies on the Fast 500 (in order of revenue)
Public or Privately Held
Rising Stars

Top 5 Winners on 2005 Technology Fast 500

NuVasive Inc. (NASDAQ: NUVA) was named the fastest growing technology company in North America, topping the 2005 Deloitte Technology Fast 500, a ranking of the fastest growing technology companies in North America based on percentage revenue growth over five years (fiscal year revenues 2000–2004) by Deloitte & Touche USA, LLP. NuVasive had a revenue growth rate over five years of 73,752 percent, moving from revenues of $52,000 in 2000 to $38,403,000 in 2004. Based in San Diego, NuVasive is a medical equipment company that develops minimally invasive back surgery products. This is its first appearance on the Fast 500 ranking.
NetSuite Inc., a San Mateo, Calif.-based privately held software company, came in second on the Fast 500 list. The company develops on-demand applications for small- and medium-sized businesses. NetSuite reported revenues of $41,256,000 in 2004, a leap of 43,327 percent from 2000 revenues of $95,000. This is its first appearance on the Fast 500 ranking.
Acacia Research Corporation, (NASDAQ: ACTG and CBMX), a Newport Beach, Calif.-based technology licensing company that develops, acquires, and licenses patented technologies, ranked third. Acacia Research posted $23,925,000 in revenues in 2004, 41,874 percent higher than its 2000 revenues of $57,000. Acacia Research ranked Number 497 in 2004.
CaseStack Inc., a privately held software company that provides logistics outsourcing services to mid-sized consumer packaged goods companies, came in fourth. The Santa Monica, Calif.-based company reported revenues of $25,461,000 in 2004, jumping 39,071 percent from 2000 revenues of $65,000. CaseStack was a Rising Star in 2004.
Rutter Inc. (TSX: RUT), a software company that develops voyage data recorders and related technologies, came in fifth with 2004 revenues of $66,595,000 CD, 29,630 percent higher than its $224,000 CD in revenues in 2000. Rutter is based in St. John’s, Newfoundland, Canada. It ranked Number 26 in 2004.

Repeat Winners

Nine Consecutive Year Repeat Winner

RS Information Systems Inc., a communications/networking company based in McLean, Va., ranked Number 420.

Eight-year Repeat Winner

Cherokee Information Services Inc., a software company based in Arlington, Va., ranked Number 256 this year.

Seven-Time Repeat Winner

Gilead Sciences Inc., a biotechnology/pharmaceutical company based in Foster City, Calif., makes it appearance for the seventh time and ranked Number 267 this year.

There were also six winners on the list six times; 18 five-time winners; 28 four-time winners, 67 three-time winners; and 126 two-time winners. This year, 252 companies appeared on the Fast 500 listing for the first year.

Growth Percentages

The Top Five winners averaged 45,531 percent growth over five years.
Overall average growth for all 500 winners was 2,408 percent, down from 4,109 percent last year and 5,493 in 2003.
Fast 500 Average Growth Percentages by Program Year
2005 — 2,408 percent
2004 — 4,109 percent
2003 — 5,493 percent
2002 — 6,772 percent
2001 — 6,184 percent
2000 — 3,956 percent
1999 — 4,998 percent
1998 — 2,958 percent
1997 — 2,500 percent
1996 — 2,712 percent
1995 — 2,834 percent
Revenue growth for the 2005 Fast 500 winners ranged from 240 percent to 73,752 percent, compared to 329 percent to 437,115 percent for 2004 winners, 469 percent to 296,080 percent for 2003 winners, 614 percent to 293,493 percent for 2002 winners, 824 percent to 115,874 percent for 2001 winners, and 593 percent to 71,257 percent for 2000 winners.
The 2005 top five winners’ growth rate averaged 45,531 percent, down from 183,337 percent in 2004, 177,851 percent for 2003, and 196,762 percent for 2002. The 2001 top winners’ average was 93,496 percent, and the top five winners’ growth rate averaged 59,367 percent in 2000.

Geography of the Fast 500

The Western United States is home to 28 percent (139 companies) of the 2005 Fast 500 winners, down from 34 percent (167 companies) in 2004 and 32 percent (162 companies) in 2003, and down from 36 percent (180 companies) in 2002. This year, four of the top 10 winners are based in the West, with all four in California (one in Northern California and three in Southern California).
California retains its title as home to more Fast 500 technology companies than any other state with 21 percent (105 companies) based there, down from 26 percent (130 companies) last year, 25 percent (126 companies) in 2003, and 30 percent (149 companies) in 2002. Northern California is home to 54 companies, while Southern California has 51 companies.
U.S. states and Canadian Provinces with a large number of winners (from largest to smallest) include:
- California with 105 winners, down from 130 winners in 2004
- Canada with 53 winners, down slightly from 55 winners in 2004
- Massachusetts with 41 winners, up from 28 winners in 2004
- Texas with 41 winners, up from 33 winners in 2004
- Virginia with 39 winners, up from 31 winners in 2004
- New Jersey with 29 winners, up from 22 winners in 2004
- New York with 21 winners, down slightly from 23 winners in 2004
Canada boasts 10 percent (53 companies) of this year’s winners, slightly down from 11 percent (55 companies) in 2004, down from 14 percent (68 companies) in 2003, but up slightly from 10 percent in 2002. The highest ranked Canadian Fast 500 winner for 2005 is Number 5-ranked Rutter Inc. (www.rutterinc.ca), a software company based in St. John’s, Newfoundland, Canada. Its revenues increased 29,630 percent from $224,000 CD in 2000 to $66,595,000 CD in 2004. Rutter was also the highest ranked Canadian winner in 2004 when it was ranked Number 26.

Region With the Greatest Average Percent Growth Rates

The Western United States is the high-tech leader with the largest average growth rate for its winners. Fast 500 winners in the West had an average percentage growth of 3,137 percent, compared with 8,790 percent in 2004, 7,427 percent in 2003; 9,730 percent in 2002; and 8,777 percent in 2001.

Growth by Region

Western United States Fast 500 winners had the highest average revenue growth of all the regions -- 3,137 percent, down from 8,790 percent in 2004, 7,427 percent in 2003, 9,730 percent in 2002 and 8,777 percent in 2001.
Southwestern United States Fast 500 winners had average revenue growth of 2,615 percent this year, up from 1,727 percent in 2004, down from 4,195 percent in 2003, 3,988 percent in 2002 and 5,770 percent in 2001.
Midwestern United States Fast 500 winners had average revenue growth of 2,165 percent, up from 1,408 percent in 2004, down from 2,241 percent in 2003, 5,629 percent in 2002, and 4,702 percent in 2001.
Southeastern United States Fast 500 winners grew average revenues by 2,081 percent, up from 1,886 percent in 2004, down from 9,209 percent in 2003, 2,325 percent in 2002 and 5,094 percent in 2001.
Northeastern United States Fast 500 winners had average revenue growth of 1,948 percent, up slightly from 1,864 percent in 2004, down from 3,862 percent in 2003, 8,574 percent in 2002, and 4,244 percent in 2001.
Canadian Fast 500 winners had average revenue growth of 2,195 percent, up from 1,597 percent in 2004, 1,809 percent for 2003 and 2,019 percent in 2002, but down from 6,426 percent in 2001 and 3,372 percent in 2000, the first year Canadian companies were eligible for the Fast 500. This is the sixth year Canadian companies were eligible for the Fast 500. Their revenues were calculated in Canadian dollars.

Regional Breakdown

Western United States — 28 percent (139 companies) are located there, down from 34 percent (168 companies) in 2004, 32 percent (162 companies) in 2003, 36 percent (180 companies) in 2002 and 32 percent (158 companies) in 2001.
Northeastern United States — 25 percent (123 companies) are located there, up from 22 percent (110 companies) in 2004, 23 percent (113 companies) in 2003, 23 percent (114 companies) in 2002, and 23 percent (115 companies) in 2001.
Southeastern United States — 20 percent (100 companies) are located there, up from 16 percent (80 companies) in 2004, 16 percent (82 companies) in 2003, 16 percent (82 companies) in 2002, and 19 percent (97 companies) in 2001.
Canada — 10 percent (53 companies) are located there, the same as 11 percent (54 companies) in 2004, down from 14 percent (68 companies) in 2003, but up from 10 percent (52 companies) in 2002 and 9 percent (47 companies) in 2001. This is the sixth year Canadian companies were eligible for the ranking.
Southwestern United States — 9 percent (44 companies) are located there, up from 7 percent (37 companies) in 2004, 6 percent (31 companies) in 2003, 5 percent (23 companies) in 2002, and 6 percent (29 companies) in 2001.
Midwestern United States — 8 percent (41 companies) are located there, down from 10 percent (51 companies) in 2004, 9 percent (44 companies) in 2003, 10 percent (49 companies) in 2002, and 11 percent (54 companies) in 2001.

Fast 500 Winners in Top Technology Centers

California — 21 percent (105 companies with 54 located in Northern California and 51 in Southern California).
New York Tri-State (New Jersey, New York and Connecticut combined) — 12 percent (62 companies)
Canada — 10 percent (53 companies)
Greater Washington DC Area (Maryland, Virginia and Washington DC combined) — 11 percent (57 companies)
Massachusetts — 8 percent (41 companies)
Washington and Oregon combined — 5 percent (23 companies)
Other states — 32 percent (160 companies)

Industry Breakdown (in order of greatest percentage):

Software — 37 percent (186 companies), fairly consistent with 38 percent (192 companies) in 2004 and 39 percent (196 companies) in 2003, but down from 48 percent (240 companies) in 2002 and 44 percent in 2001.
Biotechnology and pharmaceutical — 16 percent (82 companies). In previous years, this category was part of the life sciences category. This year, the life sciences category was split into two categories: biotechnology/pharmaceutical and medical equipment. In 2004, the life sciences category contained 22 percent (108 companies) of the Fast 500 list, up from up from 19 percent (94 companies) in 2003, 16 percent (80 companies) in 2002 and 15 percent in 2001.
Communications and networking — 14 percent (70 companies), the same as 14 percent (72 companies) in 2004, down slightly from 16 percent (78 companies) in 2003 and 15 percent (75 companies) in 2002, but up slightly from 13 percent in 2001.
Internet — 11 percent (57 companies), down from 14 percent (70 companies) in 2004 and 18 percent (89 companies) in 2003, up from 10 percent (51 companies) in 2002, and down from 15 percent in 2001.
Medical equipment — 8 percent (39 companies). In previous years, this category was part of the life sciences category. This year, the life sciences category was split into two categories: biotechnology/pharmaceutical and medical equipment. In 2004, the life sciences category contained 22 percent (108 companies) of the Fast 500 list, up from up from 19 percent (94 companies) in 2003, 16 percent (80 companies) in 2002 and 15 percent in 2001.
Scientific/technical instrumentation — 6 percent (29 companies). In previous years, this category was part of the semiconductor/equipment category. This year, the semiconductor/equipment category was split into two categories: semiconductor and scientific/technical instrumentation. In 2004, the semiconductor/equipment category contained 6 percent (31 companies) of the Fast 500 list, up from 4 percent (22 companies) in 2003, and fairly consistent with 7 percent (34 companies) in 2002 and 6 percent in 2001.
Semiconductor — 4 percent (20 companies). In previous years, this category was part of the semiconductor/equipment category. This year, the semiconductor/equipment category was split into two categories: semiconductor and scientific/technical instrumentation. In 2004, the semiconductor/equipment category contained 6 percent (31 companies) of the Fast 500 list, up from 4 percent (22 companies) in 2003, and fairly consistent with 7 percent (34 companies) in 2002 and 6 percent in 2001.
Computers and peripherals — 4 percent (17 companies), down from 6 percent (27 companies) in 2004, the same as 4 percent (21 companies) in 2003 and 4 percent (20 companies) in 2002, and down from 6 percent in 2001.

Average Percent Growth by Industry

Semiconductors — 4,302 percent
Internet — 3,983 percent
Medical Equipment — 3,129 percent
Software — 2,400 percent
Communications/Networking — 2,242 percent
Biotechnology/Pharmaceutical — 1,420 percent
Scientific/Technical Instrumentation — 1,173 percent
Computers/Peripherals — 877 percent

Repeat Winners From 2004 Fast 500’s Top 10

Nine of last year’s Top 10 winners made the 2005 Fast 500 Ranking:

Google (NASDAQ: GOOG), ranked Number 1 on the 2004 Fast 500 listing, ranked 14 this year. It had 16,591 percent growth, moving from $19,108,000 revenues in 2000 to $3,189,223,000 in 2004. Google is an Internet company based in Mountain View, Calif.
STSN Inc., Number 3 in 2004, was acquired by iBAHN, which is Number 123 on the 2005 list. iBAHN, a privately held company, had 1,729 percent growth, moving from $5,039,000 revenues in 2000 to $92,147,000 in 2004. With its first appearance on the Fast 500, iBAHN is a communications/networking company based in South Jordan, Utah.
Number 136 Cardiac Science Inc. (NASDAQ: DFIB) ranked Number 4 on the 2004 Fast 500 listing. With 1,515 percent growth, it moved from $4,242,000 revenues in 2000 to $68,513,000 in 2004. Marking its fourth appearance on the Fast 500, Cardiac Science is a medical equipment company based in Irvine, Calif.
Number 71 PriceGrabber.com LLC ranked Number 5 on the 2004 Fast 500 listing. PriceGrabber, a privately held company, had 3,498 percent growth, moving from $1,112,000 revenues in 2000 to $40,009,000 in 2004. Marking its third appearance on the Fast 500, PriceGrabber is an Internet company based in Culver City, Calif.
Number 75 Kyphon Inc. (NASDAQ: KYPH) ranked Number 6 on the 2004 Fast 500 listing. It had 3,412 percent growth, moving from $6,067,000 revenues in 2000 to $213,414,000 in 2004. Marking its second appearance on the Fast 500, Kyphon is a medical equipment company based in Sunnyvale, Calif.
Number 36 Magma Design Automation Inc. (NASDAQ: LAVA) ranked Number 7 on the 2004 Fast 500 listing. With 7,743 percent growth, it moved from $1,450,000 revenues in 2000 to $113,729,000 in 2004. Marking its second appearance on the Fast 500, Magma Design Automation is a software company based in Santa Clara, Calif.
Number 94 Align Technology Inc. (NASDAQ: ALGN) ranked Number 8 on the 2004 Fast 500 listing. It had 2,464 percent growth, moving from $6,741,000 revenues in 2000 to $172,830,000 in 2004. Marking its second appearance on the Fast 500, Align Technology is a medical equipment company based in Santa Clara, Calif.
Number 86 HouseValues Inc. (NASDAQ: SOLD) ranked Number 9 on the 2004 Fast 500 listing. It had 2,881 percent growth, moving from $1,600,000 revenues in 2000 to $47,691,000 revenues in 2004. Marking its fourth appearance on the Fast 500, HouseValues is a software company based in Kirkland, Wash.
Number 153 InterMune Inc. (NASDAQ: ITMN) ranked Number 10 on the 2004 Fast 500 listing. With 1,248 percent growth, it moved from $11,201,000 revenue in 2000 to $150,987,000 in 2004. Marking its third appearance on the Fast 500, InterMune is a biotechnology/pharmaceutical company based in Brisbane, Calif.

Largest Companies on the Fast 500 (in order of revenue):

There are 11 companies, 9 public and 2 private, whose 2004 revenue exceed $1 billion. This year’s largest companies, in order of revenue, are:

Number 282 Cingular Wireless, a privately held communications/networking company based in Atlanta, with 2004 revenues of $19.4 billion. This is the first year it has appeared on the Fast 500 listing.
Number 468 L-3 Communications (NASDAQ: LLL), a communications/networking company based in New York, with 2004 revenues of $6.9 billion. This is the first year it has appeared on the Fast 500 listing.
Number 14 Google (NASDAQ: GOOG), an Internet company based in Mountain View, Calif., with 2004 revenues of $3.2 billion. It was ranked Number 1 in 2004.
Number 250 UTStarcom Inc. (NASDAQ: UTSI), a communications/networking company based in Alameda, Calif., with 2004 revenues of $2.7 billion. It was ranked Number 229 in 2004.
Number 150 Biogen Idec Inc. (NASDAQ: BIIB), a biotechnology/pharmaceutical company based in Cambridge, Mass., with 2004 revenues of $2.2 billion. It was ranked Number 379 in 2004.
Number 355 NVIDIA Corporation (NASDAQ: NVDA), a semiconductor/equipment company based in Santa Clara, Calif., with 2004 revenues of $1.8 billion. It was ranked Number 193 in 2004.
Number 248 World Wide Technology Inc., a privately held computers/peripherals company based in St. Louis, with 2004 revenues of $1.4 billion. It was not ranked in 2004.
Number 187 Nextel Partners Inc. (NASDAQ: NXTP), a communications/networking company based in Kirkland, Wash., with 2004 revenues of $1.4 billion. It was not ranked in 2004.
Number 267 Gilead Sciences Inc. (NASDAQ: GILD), a biotechnology/pharmaceutical company based in Foster City, Calif., with 2004 revenues of $1.3 billion. It was ranked Number 415 in 2004.
Number 411 Invitrogen Corporation (NASDAQ: IVGN), a biotechnology/pharmaceutical company based in Carlsbad, Calif., with 2004 revenues of $1.0 billion. It was ranked Number 209 in 2004.
Number 199 Cephalon Inc. (NASDAQ: CEPH), a biotechnology/pharmaceutical company based in West Chester, Penn., with 2004 revenues of $1.0 billion. It was ranked Number 150 in 2004.

Public or Privately Held

53 percent (266 companies) of the Fast 500 winners are publicly traded, down from 59 percent (296 companies) in 2004, 62 percent (309 companies) in 2003 and 65 percent in 2002.
12 of the top 20 companies are privately held.

Rising Stars

As an accompaniment to the Fast 500, Deloitte also honors 25 “Rising Star” companies. These winners have accomplished fast growth and meet the criteria of being a technology company based in North America. They have been in business less than five years but at least three years. Rankings are based on their percentage growth in revenues from 2002 to 2004.

Deloitte’s Top 3 “Rising Stars” for 2005 are:

Performance Assessment Network Inc. (PAN), a privately held Internet company based in Carmel, Ind., with 5,441 percent growth over three years.
i4Commerce Inc., a privately held Internet company based in Timonium, Md., with 4,922 percent growth over three years.
Troux Technologies, a privately held software company based in Austin, Texas, with 4,198 percent growth over three years.

Press Information:

Teri Bruno, Teri Bruno Public Relations

714-536-8407


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