Two High-Growth Stocks That Could Take Off in 2026 and Beyond

If you’re focused on long-term capital appreciation, identifying companies with scalable business models and expanding market opportunities can set you up for strong returns over the next few years. Two Canadian stocks in particular exhibit characteristics that could drive significant growth through 2026 and beyond: Lightspeed Commerce (TSX: LSPD) and Docebo (TSX: DCBO).

Lightspeed Commerce operates a cloud-based point-of-sale and payments platform that serves a wide range of small to midsize retailers and restaurants. As these businesses continue to adopt digital tools to streamline operations and accept digital payments, Lightspeed’s software ecosystem becomes increasingly critical. Recent improvements to its gross margins and a growing base of recurring revenue suggest the company is gaining traction. While the stock has experienced volatility — partly due to broader tech rotation — the underlying long-term trend of digital transformation in commerce gives Lightspeed a strong runway for growth if it can sustain customer gains and expand into higher-margin services like lending and loyalty programs.

Docebo, a leader in learning management systems (LMS) and AI-powered corporate training platforms, is benefiting from the structural shift toward online education and upskilling. Organizations across industries are increasingly investing in digital training tools to enhance employee productivity and close skills gaps. Docebo’s platform combines intuitive course creation, analytics, and AI-driven personalization, making it a compelling choice for enterprises seeking scalable learning solutions. With recurring subscription revenue and a focus on international expansion, Docebo is positioned to grow its customer base and deepen penetration in existing markets.

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Both companies share traits that growth investors look for: high recurring revenue, scalable platforms, and exposure to secular trends — digital commerce and digital learning — that are expected to expand for years. They may not deliver linear performance every quarter, and near-term earnings could swing with investment cycles or broader markets, but their long-term growth stories remain intact if execution continues.

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Investors considering these stocks should be prepared for volatility and evaluate them within a diversified portfolio. For those with a multi-year horizon and appetite for growth, Lightspeed and Docebo offer exposure to powerful market trends that could fuel above-average returns through 2026 and beyond.