Growth investors have some phenomenal opportunities following the 2022 bear market. With many tech stocks down big, there are some huge potential returns available to savvy investors who buy the right ones now and hold on for the long haul.

To triple the value of an investment in just a decade would require you to achieve compound annual growth averaging roughly 12%. That's not an outrageous figure, based on the historical performances of the major stock market indexes, but it is somewhat higher than the average return of the S&P 500. Therefore, investors looking for those kinds of results should focus on growth stocks. Value stocks and dividend stocks probably won't cut it.

For this exercise, it would be smart to focus on companies that can average at least 15% revenue growth annually across a full decade. Stock prices will rise and fall with demand due to economic conditions, and we might see some higher valuations down the road if interest rates fall. However, it's a better practice to identify stocks with strong fundamental growth potential rather than relying on market conditions to work in your favor. Here are two that I think fit the bill.

1. CrowdStrike

CrowdStrike (CRWD -1.43%) is a compelling cybersecurity stock. It's a leader in edge security and enjoys sustainable growth catalysts. Businesses interact with employees, customers, and vendors through digital channels, so organizations' networks must be accessible to mobile devices and personal computers. That creates potential weak spots for cybercriminals to exploit, and that's become a concern for businesses of all sizes and industries. A number of successful companies have come in to fill that security void, but CrowdStrike's cloud platform is considered among the best-in-class for these functions.

Person celebrating with arms raised as cash floats around them in the air.

Image source: Getty Images.

That has translated into impressive financial results. CrowdStrike reported 53% revenue growth last quarter. It has consistently reported net revenue retention above 120%, indicating it is keeping almost all of its customers and expanding those existing relationships as new products are rolled out. With more than 20,000 customers, CrowdStrike has a solid market share among many of the largest corporations on the planet, and it expects its addressable market to more than double over the next few years. And it's producing nearly $200 million in quarterly free cash flow.

The stock's price-to-cash-flow ratio is under 35 at the moment, and its price-to-sales ratio is under 14. Neither metric indicates the stock is exceptionally cheap, but CrowdStrike's valuation still leaves plenty of room for big returns if it can sustain even a fraction of its current growth rate.

2. Alteryx

Alteryx (AYX) provides a cloud-based analytics automation platform. That's a fancy way to say its product suite allows organizations to conduct advanced data analysis more efficiently. The software includes both no-code and low-code functions, which means companies can still glean important insights from their data without hiring large teams of expensive data scientists. That creates obvious value for all sorts of businesses.

Alteryx, too, has concrete operational metrics to back up its interesting investment narrative. Its revenue expanded by 60% in its most recent quarter. Its forecast annual recurring revenue growth rate is a bit lower at 23% next year, but that's still strong. Even as the global tech sector slows, Alteryx is expanding at a rate that few large companies can match. Investors have good reason to be optimistic about its ability to sustain that growth, too. According to Alteryx's analysis, its total addressable market is growing by nearly 15% annually. With fewer than 9,000 clients now, it still has a huge number of unaddressed potential customers to win.

The growth metrics aren't the only things to like about Alteryx. Its net dollar retention rate was 121% -- a strong indicator of customer satisfaction and successful product enhancements. Also, the company is just about breaking even in terms of quarterly free cash flow. This means it theoretically could produce meaningful profits at its current scale, but Alteryx is deliberately investing resources into maintaining a high growth rate. That makes the stock a lower-risk proposition than other growth companies that will need to burn cash for the next few years.

Alteryx shares have climbed so far in 2023 on the back of a strong fourth-quarter report and the broader tech stock rally. Its price-to-sales ratio is 5.6, far below its peak valuation in 2020, so it isn't prohibitively expensive right now. Alteryx faces stiff competition from rival analytics platforms and indirect solutions alike, but it's a proven player in a high-growth industry. This gives the stock a chance to triple in value over the next decade.