Stock investing doesn't require enormous capital, and the current landscape is enticing for beginners or those with free cash to spare. With the right choices, an investment of as little as $2,000 can grow big over time.

Blackline Safety (TSX:BLN) and Thinkific Labs (TSX:THNC) are this month's low-priced options. The former is up 43.5% from a year ago, while the latter's one-year price return is 67.89%. Both growth stocks have visible upside potential and are on the path to profitability.

Safety first

Blackline Safety specializes in connected devices with safety software and data analytics that help data-driven customers enhance their reporting, risk mitigation and operational efficiency and adapt quickly to changing market needs. Market analysts covering BLN recommend a buy rating. Their 12-month average price target is $6 or 26.3% higher than the current share price of $4.75.

The $387.6 million global connected safety technology company is present in Canada, the U.S., the U.K., France and the United Arab Emirates (Dubai). Blackline caters to essential industries, including agriculture, hazmat and fire response, mining, petrochemical, and water and wastewater.

Blackline boasts a hardware-enabled Software-as-a-Service (HeSaaS) business model that helps people get their jobs done safely. Besides scalability, HeSaaS accounts for 77% of the service gross margin. The internally developed and innovated proprietary cloud-hosted safety monitoring infrastructure runs on Amazon Web Services.

Safety wearables and area monitors connect to the Blackline Safety Cloud. They provide continuous streaming status, environmental, location, gas readings and alerts. The cloud has over 232 billion data points in storage in over 3.3 billion locations and 7.7 billion location-enabled gas readings.

In the first half of this year (six months ending April 30, 2024), total revenues rose 28.28% year over year to $57.9 million. The net loss thinned 29.4% to $10 million compared to a year ago. In the second quarter (Q2) of fiscal 2024, annual recurring revenue (ARR) rose 33% to $56.46 million versus Q2 fiscal 2023.

The primary focus of Blackline's comprehensive product portfolio and unique monitoring portal is to meet the connected safety needs of diverse industrial workplaces globally. Blackline hopes to transition to a Rule of 40 company by the end of Q4 2024 with double-digit, top-line growth.

Explosive growth coming

The business of Thinkific Labs is easy to understand. This $217.5 million cloud-based software solution provider has a platform where entrepreneurs and established businesses can build, market, and sell online courses or digital learning products directly to customers. They can carry their brands and retain full ownership and control of the content and businesses.

In Q2 2024, revenue increased 12% year-to-year to US$16.2 million. Net income reached US$0.9 million compared to the US$2.1 million net loss in Q2 2023. "We built momentum as we progressed through the quarter. I believe we are now in a position to accelerate revenue growth in the second half of the year," said Greg Smith, chief executive officer of Thinkific.

He added that user growth continues due to the increasing adoption of Thinkific's Commerce solution. There's also heightened interest from companies looking to transform their businesses using Thinkific Plus. Scoop the tech stock ($3.19) now before the impending breakout.

Outsized gains

A $2,000 seed capital can purchase 421 Blackline and 627 Thinkific Labs shares and grow substantially in 2024 and beyond.