Back in September, I wrote about an exciting small-cap company called Cbeyond Inc. (NASDAQ/CBEY). This technology and telecommunications company is the perfect example of the kind of speculative investment opportunity I'm looking for in the market.

A relative new listing on the stock market, Cbeyond typifies the kind of investment that will outperform in 2007.

Cbeyond is based in Atlanta and sells voice, mobile and, broadband telecom services to small businesses in Chicago, Dallas, Denver, Atlanta, Houston, and Los Angeles. The company offers traditional local, long-distance, and Internet access, along with enhanced applications such as Web hosting, data backup, and file-sharing. The company maintains its own private network that is conducted in a "voice over Internet protocol" (VoIP) network.

Out of the ashes of the telecommunications crash in 2000 came VoIP technology and great companies selling a new, cheaper way to communicate. Cbeyond has outperformed as a business and it has outperformed as a speculative investment opportunity on the stock market.

In its second quarter of 2006, Cbeyond's revenues grew 38% to $52.5 million, up strongly from revenues of $38.2 million. Net income for the second quarter was $1.4 million, compared to a loss of $932,000.

Last quarter, the company increased its revenue and earnings guidance from previous estimates, and I very much look forward to the company's third quarter financial results. Some of the best times to own a speculative stock are when the underlying business transitions from operating losses to net profits.

As I mentioned, Cbeyond is representative of the kind of investment opportunity that will outperform over the next year on the stock market. It is a small, nimble technology company with a solid customer base that's growing. The company is beyond the high-risk establishment stage and is now in full growth mode. If you invested in this company, keep riding the wave. This stock looks to have a lot of momentum.