Highlights

  • Codan, Elsight, and Energy One shares increased over 100% each year.
  • The ASX IT sector declined 21% over the past 12 months.
  • Elsight Ltd shares increased 994.4% over the past 12 months.

The S&P/ASX 200 Information Technology sector plunged 21% over the past year, driven by market volatility and softening demand in key segments. While most companies struggled, a few outliers bucked the trend with impressive gains highlighting how individual stock performance can diverge sharply from sector averages.

These three ASX stocks surged over 100% in the past year, crushing the broader market

Codan Ltd – Revenue and Profit Growth
Codan Ltd (ASX:CDA) shares closed at AUD 37.16, posting a 136.69% gain over the past year. Over the last six months, the stock rose 94.05%, while year-to-date gains stand at 28.05%.

The FY26 first-half preliminary update, covering the six months ended 31 December 2025, reported group revenue of AUD 394 million, up 29% compared to the previous year. Underlying net profit after tax is projected at AUD 70 million, a 52% increase over the prior period.

Revenue was supported by the metal detection segment, which reported AUD 168 million, up 46% year-on-year, driven by sales of gold detectors in Africa and other markets. The communications segment contributed AUD 222 million, an increase of 19%. Formal FY26 first-half results are scheduled for release on 19 February 2026.

Elsight Ltd – Commercial Orders
Elsight Ltd (ASX:ELS) shares closed at AUD 3.94, recording a 994.44% gain over the past year. Over the last six months, the stock advanced 110.70%, while year-to-date gains stand at 15.20%.

through a latest update, the company informed, received its first commercial purchase order for CY2026, valued at USD 460,000 (AUD 682,000) from a U.S.-based public safety client. The order is for connectivity solutions for Beyond Visual Line of Sight (BVLOS) drone operations. Regulatory developments, including the FAA’s proposed Part 108 BVLOS rulemaking, relate to this type of solution.

Energy One Ltd – Recurring Revenue
Energy One Ltd (ASX:EOL) shares closed at AUD 17.42, marking a 160.78% gain over the past year. Over the last six months, the stock has risen 38.47%, while year-to-date gains stand at 1.46%.

During its FY25 Annual General Meeting, Energy One reported annual recurring revenue increased 22% (16% FX-adjusted). Total revenue, cash EBITDA, and net profit after tax also increased. The company provides software and services for energy management in Australia and Europe. Leadership transition to CEO Ben Tranier is planned for 1 March 2026.