Looking for strong revenue growth? Check out these two high flyers

Strong revenue growth is proving to be elusive among the largest companies in the FTSE 100 index, however if you're willing to look outside the most popular, mainstream stocks it's still possible to find. These two UK stocks have seen stunning revenue growth over the last five years.

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First Derivatives

'Big data' specialist, First Derivatives (LSE: FDP) is a leading provider of software and consulting services to the financial sector. The company's key product, Kx, is a market leading product in the big data space and assists financial institutions such as HSBC, Goldman Sachs and JP Morgan with the high speed processing of real-time, streaming and historical data.

The company has grown at a rapid pace over the last five years, with revenue increasing from £37m in FY2011 to £117m in FY2016, a compound annual growth rate (CAGR) of a stunning 26%. And with city analysts pencilling-in revenue of £140m for FY2017, it appears that the company's momentum is set to continue.

First Derivatives released interim results for the six months ended 31 August 2016 earlier this week, and the numbers were impressive, with H1 revenue up 34% to £72.4m. Adjusted EBITDA rose 26% on last year to £13.6m, and adjusted diluted earnings per share increased 21% to 29p.

The excellent numbers were accompanied by a positive tone from management with the company stating that it has a "strong pipeline of opportunities in multiple industry segments." Furthermore the company noted that the second half of the year had started "positively" and that the high visibility within both consulting and software gave the board "confidence in a continued strong performance for the full year."

While First Derivatives' share price has risen around 160% over the last three years, resulting in a market capitalisation of over £500m, I believe the tech firm is still very much flying under the radar of many investors. This is illustrated by the fact that only five brokers cover the stock.

I'm excited about the prospects for First Derivatives, however it must be noted that with the stock trading on a P/E ratio of 37.5 times next year's forecast earnings, the stock is certainly not cheap and is very much 'priced for perfection.'

Playtech

One company growing at an impressive rate yet trading at a reasonable valuation is the world's largest online gaming and sports betting software supplier, Playtech (LSE: PTEC).

Playtech designs software platforms for the online, mobile and land-based gaming industry and has seen its revenues grow exponentially over the last five years at a CAGR of an amazing 35%.

Shareholders have been well rewarded, with the stock rising 240% in the last five years and the company paying out a dividend that has increased from EUR19c in FY2010 to EUR28c for FY2015. Furthermore, the company announced in August that it would be paying out a special dividend of EUR47c to shareholders in December.

Companies growing as fast as Playtech normally trade at high multiples, however the company trades on an undemanding P/E ratio of 14.6 times forecast earnings, which seems low given the historic growth of the firm.

With earnings per share forecast to rise 39% this year and the company aiming to grab a larger market share of the lucrative sports-betting market through its recent acquisition of Best Gaming Technology, Playtech is definitely one to watch.

The Motley Fool's growth stock recommendation

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Edward Sheldon owns shares in First Derivatives. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.