Temperatures are rising this summer, and the same can be said about some of this year's hottest stocks. There's no shortage of market winners in 2020, even as the general market is essentially checking in with flat year-to-date results.

Twilio (NYSE:TWLO), Wayfair (NYSE:W), and Livongo Health (NASDAQ:LVGO) are some of the high-flying growth stocks of 2020 with strong momentum to keep the good times going in the month ahead. They have all more than doubled this year. Let's take a closer look at these hot stocks to buy in August.

A young woman celebrating on her smartphone.

Image source: Getty Images.

Twilio

You don't have to fully understand the art of in-app communication solutions to know that Twilio plays a big role behind the scenes of some of your favorite apps. When a search for new digs on Trulia matches you instantly with a real estate agent for the property you're looking at or when your Handy.com cleaning person notifies you of their arrival it's Twilio's high-tech magic seamlessly at work. 

Twilio's the undisputed top dog in this niche, and it's translating into monster growth. Revenue rose 57% in its latest quarter, and it gets another chance to impress investors when it reports fresh financials shortly after Tuesday's market close. With its clients leaning on the platform more and more with every passing quarter -- returning customers are spending 43% more on average than they were at this point a year ago -- we should be heading into another blowout performance. 

Wayfair

Wayfair steps up with its latest financial update a day after Twilio's report this week. The online marketplace for furniture and home decor is one of Wall Street's biggest winners since the mid-March low during the pandemic sell-off. The stock is now a 12-bagger off of its springtime low, and that's not a typo. 

The secret to Wayfair's growth is that it's become a low-key play on the coronavirus crisis. Folks are spending more time at home, and that's going to prioritize furniture pieces at a time when many local showrooms are shuttered. Wayfair raises the bar with data science to smoke out pieces you may actually want to buy, and an augmented reality treat where you can visualize furniture you're considering in a snapshot of the room you want it to go. Revenue rose 20% in the first quarter, but analysts see that accelerating to a 69% top-line burst in this week's quarterly report. 

Livongo Health

No one likes to be nagged about chronic conditions, but Livongo Health is improving lives with the applied health signals platform that it has pioneered. It started with diabetes, a chronic, costly, and ultimately devastating chronic condition that impacts 10% of the country. A pin prick from a blood glucose meter wirelessly sends data to Livongo's platform. It's then able to lean on data science and machine learning to coach members to better outcomes, recommending diet and exercise routines the moment that readings start to deteriorate. 

It works. Livongo has seen its user base double to 328,000 members over the past year, and by dramatically lowering blood sugar levels in as little as three months it's a win-win-win. Members win because they live healthier and longer lives. Companies and insurers win because Livongo members are seeing an average of $1,908 in annual medical cost savings. Livongo's platform is now starting to tackle weight loss, hypertension, and depression. It's a revolutionary approach to health that's just getting started, and we'll get a good read on where Livongo Health is at when it announces its latest quarterly results on Thursday.  

Twilio, Wayfair, and Livongo Health have earned their racing stripes as some of this year's top growth stocks. There's no reason August will slow them down, with all three expected to come through with strong financial results this week.