Xero was one of the first two TIN200 companies to reach $2b in revenue. Photo: Supplied/Xero
Tech exporters generated $20 billion in revenue over the past year -- an increase of 9.9 percent on their previous year*.
The annual Technology Investment Network (TIN) report on the top TIN200 companies indicates the industry was maturing and competing on a global scale.
"After 21 years of tracking New Zealand's tech economy, we're seeing a sector that has matured without losing its agility," TIN managing director Greg Shanahan said.
"These companies are writing their own rules - innovating through uncertainty, expanding into new markets and creating opportunities that go beyond traditional economic boundaries. That mindset of 'no limits' is what continues to propel Aotearoa's tech success story."
Report highlights
- Tech constitutes NZ's third largest export earner behind dairy and tourism
- TIN200 (top 200 tech firms) exports rose 12 percent to $15.31b on FY2024
- Xero and F&P Healthcare were the first two TIN200 companies to reach $2b in revenue
- High-tech manufacturing companies led the growth
- 40 companies recorded revenue of $100m+, an increase from 19 in FY2015
- NZ early-stage capital investment totalled $467m across 146 deals, up from $349m across 144 deals in FY2024
- Auckland leads the regions, with $10.5b in revenue, Wellington second at $5.2b
- *Data based on each company's financial year end.
Technology Investment Network managing director Greg Shanahan. Photo: supplied
TIN head of research Narjis Adnan said the growth was powered by record investment in research and development.
"Reaching $20 billion in total revenue marks a major milestone for New Zealand's tech sector. The data shows an industry that's truly hitting its stride - powered by record R&D investment, rising profitability, and strong offshore demand," she said.
"What we're seeing is a globally competitive ecosystem that's established, resilient, and firmly positioned at the centre of Aotearoa's economic future."
Shanahan said the tech ecosystem was competing globally, particularly in advanced
manufacturing and aerospace to AI and fintech.
"This growth has been driven by a long-term focus on innovation, R&D investment and high-value jobs that are reshaping New Zealand's economic future."
He said there had been an overall unprecedented expansion of the tech sector.
Global employment within the TIN200 had expanded by nearly 24,000 people, with overseas job creation outpacing domestic growth nearly three-to-one.
"Fintech and healthtech have emerged as dual powerhouses, together contributing almost $6b in annual revenue, while new entrants in cleantech, aerospace, and advanced manufacturing point to the next generation of high-growth exporters."
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