2 ASX Tech Stocks to buy Now:  APX & MP1

These are the following technology ASX stocks to buy, supported by strong results and high growth outlook.

1. Appen Limited (ASX: APX)

Appen Limited (ASX: APX) is one of the top technological companies with huge upside potential. It is currently trading with a market capitalisation of $281.94M.

APX had announced on 27 August 2026 its half yearly results for the period ended in June 2026.

Revenue increased by 17.5% YoY to US$119.9M.

Segment Performance

Segment wise, Appen China has shown a massive growth of 80.4% YoY to US$76.2M, and Appen Global reported a revenue of US$43.7M.

Appen Limited reported a gross margin of 36.7% and underlying EBITDA before FX becomes positive to US$5.3M, led by prudent cost management and operating leverage within Appen China.

Appen China's underlying EBITDA before FX grew by 316% YoY to US$12.1M, making a massive EBITDA margin expansion from 6.9% in H1 FY25 to 15.9% in H1 FY26.

This massive improvement is driven by a greater mix of higher margin generative AI projects.

Cash Flow and Outlook

Appen has increased its cash outflow from investing activities to US$9.2M and reported a net operating cash outflow of US$4.1M.

This makes the closing cash balance down to US$44.7M.

APX remain confident in the AI data market with a positive signal on LLM related growth, including from Appen Global and Appen China customers.

Appen has given FY26 group guidance for revenue of US$270M–US$300M, with an underlying EBITDA (before FX) margin of 5–10%.

2. Megaport Limited (ASX: MP1)

Megaport Limited (ASX: MP1) is one of the top technologies based ASX stocks with huge upside potential. It is currently trading at a market capitalisation of $4.48B.

MP1 had announced on 20 August 2026 that its wholly owned subsidiary Latitude.sh has secured a new portfolio of major infrastructure contracts.

It includes three contracts covering GPU and CPU compute, network, and storage capacity for multiple customers, further expanding its role in supporting AI applications and inference workloads.

The contract has a combined Total Contract Value (TCV) of US$359.4M with an Annualised Recurring Revenue of US$91.7M.

This requires an incremental capital expenditure of US$207.2M, incorporated into FY27 guidance.

FY26 Results

On the same day, i.e., 20 August 2026, MP1 had announced its FY26 full year results for the period ended at June 2026.

Megaport has reported a group ARR of A$395M.

Segment wise:

• Network ARR: Grew by 27% c.c. YoY to 289.6M

• Compute ARR: Increased by 72% YoY to $105.6M

The group revenue grew by 37% YoY to $312.2M.

Segment wise, network revenue reached A$268.3M and compute revenue of $43.9M.

MP1 has reported an EBITDA of A$77.1M (+24% YoY), with an EBITDA margin of 25%.

Cash Flow and Balance Sheet

Megaport operating cash flow is up 20% to A$82.1M, and cash outflow for investing activities has increased to A$445.6M.

Cash flow for financing activities reached A$682.9M, making the closing cash balance of A$435.4M, an increase of 327% YoY, and net cash flow increased to A$318.6M.

It has secured binding commitments for an A$825M debt facility, strengthening its balance sheet.

FY27 Outlook

In FY27, MP1 is expected to have the group revenue in the range of A$620M–A$730M, out of which:

• A$315M–A$325M comes from network revenue

• A$305M–A$405M from the compute segment

EBITDA margin is expected to be 38–40%, and estimated capital expenditure to be A$1.28B–A$1.38B.

Source: Company Announcements