Cathie Wood's flagship exchange-traded fund, the ARK Innovation ETF, is trouncing the S&P 500 this year with a 20.5% gain versus just 6.6% for the benchmark index.

Despite a big run-up to start 2023, Cathie Wood and Ark Invest think some of their favorite names are on a bull run that is just getting started. Over the next six to seven years, analysts at Ark Invest are predicting huge gains for these supercharged growth stocks.

1. Exact Sciences

Exact Sciences (EXAS -3.14%) is an innovative cancer diagnostics company. Its flagship product, Cologuard, has been used to screen more than 10 million people for early-stage colon cancer.

Exact Sciences has funneled every penny earned from Cologuard into the development of multi-cancer early detection screens and tests that guide treatment decisions for cancer patients. High expectations for both of these markets drove analysts at Ark Invest to predict a 116% gain for this stock by 2027.

Success with Oncotype DX gives ARK Invest confidence about Exact's ability to expand beyond Cologuard. The American Society of Clinical Oncologists highly recommends it for deciding which patients diagnosed with early-stage breast cancer should receive chemotherapy.

While there's a real chance that Exact Sciences could consolidate a large share of the growing market for cancer testing, this is a long way from guaranteed. With growing competition from a slew of diagnostics providers, fourth-quarter revenue from the precision oncology segment that houses Oncotype DX fell 4% year over year.

Investors excited about the future of cancer detection should know that Exact Sciences lost $128 million last year, and it has never recorded a profit. Products that it's developing now might be able to push the company to profitability, but that's a bet for investors at the furthest edge of the risk tolerance spectrum.

2. Roku

Shares of Roku (ROKU -10.47%) are up 49% this year, and analysts at Ark Invest think they can climb much higher. The firm's base-case estimate for the stock implies a gain of 899% by 2026.

Roku sells connected televisions (CTVs) and streaming sticks with the Roku operating system (OS), but equipment sales aren't what excites Ark invest analysts. They're attracted to its popularity. By hours streamed, Roku is the most popular platform in North America.

It's also popular with advertisers that made some deep cutbacks during the last few months of 2022. While many companies that rely on digital ad revenue reported contractions in the fourth quarter, Roku reported average annual revenue that rose 2% year over year to $41.68 per user.

The Roku OS is the only one built from the ground up to run on connected televisions. At the end of 2022, its OS let content publishers reach a base of 70 million active accounts, bill them for add-on services, and track their behavior.

That produced big profits in 2021 while pandemic lockdowns forced us to spend a lot more time at home. Last year, though, the company lost a stunning $498 million.

Engagement metrics that are on the rise are encouraging, but the recent losses are too much to ignore. Roku has a big $8.9 billion market cap that could collapse if investors don't see the company moving toward profitability again.

Heavy losses despite it being the most popular streaming service in North America show us just how risky betting on streaming service providers can be. This is another supercharged stock that I'll be cheering on from a safe distance until it can start making ends meet.