The TSX Venture Exchange (TSXV) has released the Kraken alongside the 2025 TSX Venture 50, the list highlighting the 50 best-performing companies on the stock exchange last year.
The Venture 50 methodology has changed slightly from previous years. It previously ranked companies on five separate sector-specific top-10 lists in technology, cleantech and life sciences, diversified industries, mining, and energy. This year, the Venture 50 ranked companies together in one list based on three equally-weighted criteria: one-year share price appreciation, market capitalization increase, and Canadian consolidated trading value.
SPARQ Systems recorded the highest increase in share appreciation and market capitalization.
The methodology change dramatically altered the proportional representation of tech companies on the list, which the mining sector now dominates with 31 of the 50 featured companies.
In comparison, the technology, cleantech and renewable energy, and life sciences sectors had a combined 12 companies on the list.
Still, St. John’s, Nfld.-based Kraken Robotics took the top spot this year. It’s Kraken’s fourth appearance on the list since listing on the TSXV in 2015, and a return to form after its absence from the British Columbia-dominated 2024 Venture 50, after topping the list the previous year.
The marine technology company, which provides complex subsea sensors, batteries, and robotic systems, sported a 323 percent share price appreciation and added more than $587 million to its market capitalization last year. In October, the company announced it raised more than $51 million CAD through a bought deal public offering to expand its facilities and increase its manufacturing capacity.
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Some other technology companies that made the list include Vancouver-based Neptune Digital Assets and Kingston, Ont.’s SPARQ Systems.
SPARQ Systems, which designs and manufactures microinverters for residential and commercial solar electric applications, recorded a 944-percent increase in share price and 1,379-percent increase in market capitalization, both the highest of all the companies on this year’s list.
Neptune, which placed 11th with 168-percent share price appreciation, also made the 2024 Venture 50 list. Some of Neptune’s digital asset operations include Bitcoin mining, proof-of-stake mining, blockchain nodes, and decentralized finance.
According to TMX Group, which operates the TSXV, the 2025 TSX Venture 50 companies collectively represent a combined market capitalization of $21.7 billion as at Dec. 31, 2024, a 289-percent increase amounting to an additional $16 billion in just one year. During the same period, the average share price appreciation was 207 percent, outpacing the 121-percent growth in 2023 and 73-percent growth in 2022.
CORRECTION: A previous version of this story erroneously noted 11 tech companies on the TSX Venture 50 list instead of 12. BetaKit regrets the error.
Feature image courtesy Yiorgos Ntrahas via Unsplash.