Soaring 76 rankings 2023: Greater Philadelphia’s fastest-growing companies, Nos. 1-25

Despite a number of headwinds over the past three years – a global pandemic, labor shortages, supply chain issues, and fluctuating market conditions, to name just a few – area companies proved their grit.

Surviving those challenges is laudable, but thriving in them is astounding. These 76 companies did just that, weathering storms and coming out stronger than before.

Each year, the Philadelphia Business Journal identifies the region’s fastest-growing companies for our annual Soaring 76 program. While some companies appear year after year, a number are making their Soaring 76 debut, whether because they are young firms that only recently qualified or because their businesses have boomed. Ever-changing, the list provides insight into the sectors and businesses that are taking off locally.

This year, that included staffing and human resources firms, whose services remain in high demand; health care-related companies; and increasingly those providing access to capital outside the traditional banking methods. Communications, public relations and digital agencies, as well as cybersecurity firms, are also in force on this year’s list, a reflection of the growing needs for such services.

Each of the companies on this year’s list grew their revenue during the reviewed time period of 2020 to 2022, many by double and even triple digits.

Recognizing that the economy has shifted the past few years, we made some small updates to our parameters this year. Companies were required to have minimum revenue of $750,000 in the first year of the considered timeframe – in this case 2020 – but the third-year minimum revenue threshold of $2 million was waived. What didn’t change was the need for sustained year-over-year revenue growth and for companies to be headquartered locally.

To determine this year’s list, we sought online nominations. Those that qualified were then vetted through a process that included our editorial board and our accounting partner for this year’s program, CLA.

In addition to nominated private companies, publicly traded companies that met the same parameters were added from our annual largest public companies List.

Special thanks to Data Reporter Todd Romero for compiling the Soaring 76 revenue figures.

Read the full article here 

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