Industries

A calmer pace

This year’s top growth rates are much lower than last year’s numbers

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Print this page by Robert Powell

Big growth spurts rarely last a long time. Such was the case of last year’s top-revenue growth numbers for the Fantastic 50, an annual list of the fastest-growing private companies in Virginia.

The company with the highest growth rate last year, Ashburn-based Cynet Systems Inc., saw its revenue soar 7,388.7 percent from 2011 to 2014. That was the highest number recorded in the Fantastic 50 since the 2011 list when the top firm had a growth rate of 7,752 percent.

This year the story is different.  The top company on the list is Stafford-based Darkblade Systems, whose revenue grew 1,848 percent from 2012 to 2015. That number is 5,541 percentage points lower than Cynet’s performance last year. But that doesn’t mean that the whole group of 50 on this year’s list grew at a slower rate. In fact, the median growth rate of this year’s Fan 50 rose to 281 percent, 55 percentage points higher than the pace seen in last year’s list.

Also, five companies had growth rates of 1,000 percent or more this year, compared with just three in 2016. The more moderate but steady pace of this year’s numbers is reflected in the fact that Cynet is on the list again this year, but it clocks in at 2012-15 growth rate of 798 percent.

Also on this year’s list is Devils Backbone Brewing Co., the leading manufacturing company on the 2016 Fantastic 50. Its return might surprise some people. The company announced last year it was being sold to beer giant Anheuser-Busch, but that deal occurred after the 2012-15 period covered by this year’s list.

In addition to Darkblade Systems, three other companies on the list are being recognized as revenue-growth leaders in their categories. They are:

 

Northern Virginia companies continued to dominate the Fantastic 50 list, occupying 33 of the 50 spots. Eight companies are from Hampton Roads, while seven are from Central Virginia, and one each are from the Shenandoah Valley and the Northern Neck.

This year’s list was based on revenue growth from 2012 to 2015. To be eligible for the list, a company must of had revenue of at least $200,000 in 2012. It also must have made a profit in 2015 and have revenue of less than $200 million in its most recent fiscal year.

The Fantastic 50 companies were recognized at an awards banquet on April 27 at the Westfields Marriott Washington Dulles hotel in Chantilly.

The accounting firm Dixon Hughes Goodman reviews the financial records of the entries to determine the winners. Virginia Business is a sponsor of the Fantastic 50.

2017 Virginia's Fantastic 50 list

   COMPANY LOCATION YEAR ESTABLISHED EMPLOYEES (2015) REVENUE (2015) '12- '15 GROWTH CATEGORY
1 Darkblade Systems Stafford 2010 24 WND 1,847.54% Service
2 GuidePoint Security LLC Herndon 2011 139 $111,126,703 1,275.90 Technology
3 Axis Global Enterprises Inc. Virginia Beach 2011 27 WND 1,273.69 Service
4 Super Systems Inc. (SSi) Virginia Beach 1988 120 WND 1,194.03 Technology
5 Davis Defense Group Inc. Stafford 2002 658 WND 1,040.94 Service
6 The Hilb Group Richmond 2009 174 WND 818.87 Service
7 V1 Analytical Solutions Arlington 2009 33 WND 802.35 Service
8 Cynet Systems Inc. Ashburn 2010 183 31,424,000 797.83 Service
9 Concept Plus LLC Fairfax 2008 95 18,212,000 691.83 Service
10 E3 Federal Solutions LLC McLean 2004 328 52,680,610 643.85 Service
11 RM Advisory Services LLC Alexandria 2005 35 WND 636.50 Service
12 Creative Systems and Consulting McLean 2010 40 WND 522.67 Technology
13 Ingenicomm Inc. Chantilly 2010 38 WND 501.08 Technology
14 Tribal Tech LLC Alexandria 2000 45 WND 488.03 Service
15 PotomacWave Consulting Alexandria 2007 155 WND WND Service
16 American Cyber Clifton 2011 48 WND 415.49 Service
17 Cape Henry Associates Virginia Beach 2004 182 22,380,720 409.00 Service
18 Convoke Arlington 2006 24 9,374,460 392.57 Technology
19 Impact Makers Richmond 2006 100 17,851,059 365.95 Service
20 O'Connor Brewing Co. Norfolk 2010 31 WND 356.46 Manufacturing
21 Eagle Hill Consulting Arlington 2003 108 WND 334.84 Service
22 Devils Backbone Brewing Co. Nelson County 2008 132 WND 300.93 Manufacturing
23 Veris Group LLC Vienna 2005 161 WND 298.98 Technology
24 Morooka America LLC Ashland 2012 28 17,530,774 294.33 Manufacturing
25 Insignia Technology Services LLC Newport News 2007 164 WND 292.53 Technology
26 DIGITALSPEC Fairfax 2005 40 4,188,097 270.55 Technology
27 Highlight Technologies LLC Fairfax 2008 64 WND 252.09 Service
28 SOLitude Lake Management Virginia Beach 1998 83 WND 251.86 Service
29 Brandito LLC Henrico 2009 7 3,200,216 249.68 Service
30 MindPoint Group LLC Springfield 2009 77 13,465,648 218.78 Service
31 Divurgent LLC Virginia Beach 2007 57 WND 202.46 Service
32 Patriot Group International Inc. Warrenton 2004 79 33,854,740 188.68 Service
33 Marathon TS Inc. Kilmarnock 2009 120 10,289,406 187.16 Technology
34 Sevatec Inc. Fairfax 2003 289 WND 167.69 Service
35 Epitome Networks Richmond 2009 75 WND 166.39 Technology
36 The Bowen Group Stafford 2005 128 WND 159.56 Service
37 ValidaTek Inc. Arlington 2006 114 WND 154.12 Service
38 Pretek Corp. Chantilly 2002 20 WND 148.37 Technology
39 Datatility Inc. Ashburn 2002 15 WND 146.57 Technology
40 Amatea LLC Leesburg 2005 7 9,726,857 143.84 Technology
41 NuAxis Innovations Vienna 2002 244 WND 133.04 Technology
42 ODUrent Norfolk 1999 22 WND 127.77 Service
43 The Frontier Project Richmond 2008 41 WND 125.59 Service
44 AEM Corp. Herndon 1986 257 WND 115.10 Technology
45 Technatomy Corp. Fairfax 2000 284 WND WND Service
46 Chmura Economics & Analytics Richmond 1998 18 WND 113.86 Service
47 Higher Logic Arlington 2007 78 WND 109.55 Technology
48 Dominion Consulting Reston 2009 70 34,559,797 106.55 Technology
48 Markon Solutions Falls Church 2007 164 WND 101.16 Service
50 Zantech IT Services Inc. Tysons Corner 2007 210 WND WND Technology
WND – would not disclose for publication               Companies in BOLD are category honorees                Source: Dixon Hughes Goodman, Virginia Chamber of Commerce



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