NZ’s tech sector belt tightening pays off

Fintech maintained pole position as the biggest tech subsector for NZ, driven largely by a strong year for Xero. (Image: Getty)

Ben Moore

Thu, 14 Nov 2024

Efforts to cut spending paid off for New Zealand’s technology sector in a year of healthy revenue growth as job numbers declined.According to the Technology Industry Network’s 2024 TIN200 report, total revenue for NZ’s top 200 tech companies reached $17.95 billion, up $1.28b or 7.7% over 2023.The TIN report noted that this outpaces NZ’s overall economic growth but is below the index's five-year compound annual growth rate (CAGR) of 10.5%.The makeup of the TIN200, the top 200 NZ tech companies by revenue, was relative...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ sharemarket down 0.2% as Trump retakes office

The S&P/NZX 50 Index closed at 13.052.9, down 35.41 points or 0.27%.

Graham Skellern 6:10pm

Markets

Rua Bioscience psilocybin study targets meth addiction

The ‘preparation step’ will be followed by an ‘experiential session’ with the mushroom.

Gregor Thompson 4:30pm

Rua Bioscience psilocybin study targets meth addiction

Retail

Card transaction data ‘much stronger than expected’:

Stats NZ data shows retail spending has grown for five consecutive months.

Gregor Thompson 1:00pm

Card transaction data ‘much stronger than expected’:

Sponsored

Shining bright: Why gold matters today

The “great wealth store” remains a smart portfolio choice in 2025.

Smart

Sponsored

Why Kiwis are embracing Bitcoin ETFs

The once hard-to-access investment option is becoming mainstream.

Smart

More Technology

Markets

Scott Tech’s Rocklabs expands Rio Tinto deal

Scott Technology has extended its contract with Rio Tinto, increasing the automation of a third laboratory for the mining giant in Australia.Scott, a New Zealand Exchange-listed industrial automation company, did not provide details on the value of the contract but said the syste...

Ben Moore 10:52am