Best ASX growth shares to buy in October

Collins Foods, Cogstate and DUG Technology show the wide range of chances in today’s market from food to digital health, advanced computing and together they showcase solid business models, consistent cashflows and clear growth plans.

Best ASX growth shares

Collins Foods Limited (ASX: CKF) 

Cogstate Limited (ASX: CGS)

DUG Technology Limited (ASX: DUG)

Collins Foods Limited (ASX: CKF) 

showed stable performance in FY25. Revenue went up by 2.1% to around A$1.52 billion mainly because of growth in KFC Australia. Underlying EBITDA stayed flat at A$228.5 million but underlying NPAT dropped 14.8% to A$51.1 million as depreciation and interest expenses were higher. Statutory NPAT fell hard to A$8.8 million after impairment charges of A$40.8 million mostly from KFC Netherlands. Operating cash flow was strong at A$181.4 million which helped cut net debt to A$137.9 million and also fund 10 new store openings plus 40 remodels in Australia. The company declared a fully franked final dividend of 15 cents bringing the total dividend for FY25 to 26 cents a share. KFC Australia sales went up 3.0% with like for like growth of 0.3% but Europe was weak although second half showed better trends with sales decline slowing down. Collins also exited Taco Bell so it can focus fully on the KFC network with big plans in Germany where 40–70 new outlets are targeted in the next 5 years. For FY26 the management expects NPAT to rise in low to mid teen range.

Cogstate Limited (ASX: CGS) 

delivered record results for FY25 making itself a key digital health partner in neuroscience and clinical research. Revenue went up 22% to about US$53.1 million mostly because Clinical Trials revenue jumped 28% to US$50.6 million and new contracts signed lifted 53% to US$41.3 million. Gross margin also got better to 61% helped by more software licenses and stronger operations. EBITDA rose 72% to US$16.0 million with margin at 30%. NPAT went up 86% to US$10.1 million and operating cashflow more than doubled to US$11.5 million which pushed total cash to US$35.6 million even after a US$4.8 million share buyback. The company gave out its first ever fully franked dividend of A$0.02 per share. Partnerships with Medidata and top biopharma firms added more to the pipeline and Cogstate’s platform was used in FDA approved Alzheimer’s and oncology trials. Looking ahead into FY26 growth will come from contracted revenue of US$35.9 million.

DUG Technology Limited (ASX: DUG) 

had revenue of about US$62.6 million in FY25 and EBITDA came in at US$15.4 million with a margin of 25%. The second half of the year was much stronger as it delivered US$33.8 million revenue and US$10.2 million EBITDA with margins lifting to 30%. This was helped by US$45.7 million of new service projects. Services revenue for the year was US$51.9 million which is 5% down but Software went up 13% to US$8.3 million. The company reported a net loss after tax of US$4.4 million compared to a profit of US$3.3 million in FY24. This loss was mainly from higher depreciation and finance costs from new infrastructure investments. Operating cashflow came in at US$5.6 million and cash on 30 June 2025 was US$16.4 million while there was a small net debt of US$3.9 million. The order book is at a record US$52.0 million and new offices in Abu Dhabi and Brazil will contribute for its long term growth. 

(Source: Company Announcements)