There are some companies listed on the stock market that fly underneath most investors' radars, and among this select group of companies are some that have real potential to be great investments. These select stocks aren't super-secret and none promise to make you an instant millionaire if you invest. In fact, investors do know about them. They just don't get the same level of attention for whatever reason.

Because they are under the radar, investors often have to go looking for information about these companies. That can be a nice change from having to filter out the influencers pushing investors to purchase (or not purchase) a particular stock. Having to dig deeper into the business and financials of these companies on their own, an investor can learn some valuable lessons along the way.

Allow me to point out three such under-the-radar tech stocks that deserve some of your investing attention and investigation.

1. DLocal

You might never have heard of DLocal (DLO 2.25%), but retail giants like Amazon and Nike have. Its globalized payment processing tools give its customers the ability to do business in emerging markets like South Africa and Thailand. With DLocal's easy add-on, companies can take payments in local currencies, accept unique credit cards, or allow mobile payments without having to navigate through regulations or currency exchange -- DLocal takes care of all that.

It would be expensive for one company to create these solutions for each country it operates in, so DLocal's value proposition is that it gives its customers access to multiple countries (37 and counting) with one solution.

That's a pretty compelling investment thesis, but how is the business? Downright impressive.

In DLocal's second quarter, revenue rose 72% year over year to $101 million, while total payment volume was up 67% year over year to $2.4 billion. Customers also significantly expanded their spending, as they spent $157 this quarter for every $100 last year. And DLocal is solidly profitable, with a 38% adjusted margin based on earnings before interest, taxes, depreciation, and amortization (EBITDA), and $30.7 million in profits under generally accepted accounting principles (GAAP).

So that's a fast-growing, compelling business that is producing healthy profits. What's the catch? Valuation.

DLocal stock trades at 96 times earnings and 30 times sales, both expensive numbers. This valuation is DLocal's primary drawback, but if the business continues to grow at its current pace, these numbers don't look so bad. Some of the best investments in the market have seldom looked cheap. Keep that in mind if you decide to purchase DLocal.

2. Procore

Construction is an essential industry for economic growth; it's also one of the last to be genuinely affected by technological advances. One company trying to change that is Procore Technologies (PCOR 0.85%).

With its construction management software, Procore connects all project members to provide further visibility to problems and efficiently roll out design changes. It's a highly rated product, with 1,169 product reviews on G2, a website with user reviews of business software, where it has an average score of 4.5 stars out of 5.

Procore also just completed an impressive second quarter, with revenue rising 40% year over year to $172 million. Management also gave a tremendous full-year outlook of 34.5% revenue growth, but the business does have one catch: It isn't profitable.

Procore lost $37 million in the quarter from a free cash flow perspective. However, with more than $500 million in cash on its balance sheet, Procore can afford to lose money for some time while it works on promoting its software for every possible use case. 

As for valuation, Procore stock trades at 12 times sales, not too far off established construction software company Autodesk (10.5 times sales). The valuation of this company is reasonable, but because it isn't profitable, it presents a different risk. Still, construction is a massive market, and Procore's solution can help everyone involved in the process operate more efficiently, which saves time and money.

3. EPAM Systems

Companies seldom have the expertise necessary to create the technical solutions they want. So instead of giving up, they often hire a consulting company to design, create, and operate that solution. EPAM Systems (EPAM -3.63%) is one of those companies and has helped thousands of businesses since its founding in 1993. 

In March, EPAM Systems experienced a shock to its workforce: the war in Ukraine. EPAM employs 14,000 Ukrainians out of 61,300 total employees. EPAM didn't just shrug its shoulders and stay complacent; it pledged $100 million to help Ukrainians and rented buses to shuttle people across the border and work on resettling those who wanted to leave.

Despite these challenges and secondary efforts, EPAM's business is still growing rapidly. In the second quarter, revenue rose 36% year over year to $1.2 billion, and management gave third-quarter guidance for 22% growth. However, the company experienced bottom-line challenges, with earnings per share (EPS) falling 84% year over year to $0.32. This drop was due to multiple reasons: foreign exchange losses, Ukraine war expenses, and rising business costs. But these headwinds should subside in a few years. 

EPAM has dealt with a real challenge exceptionally well, but the stock has suffered. It's still down nearly 40% from its pre-invasion high, but its price-to-sales (P/S) ratio is at the level it was before valuations ran up during 2021.

While EPAM Systems isn't out of the woods yet, it has navigated a brutal headwind. It still has a long way to recover to where it once was.