Catapult International Group (ASX:CAT) has announcements from Catapult’s expansion into Performance & Health and Tactics & Coaching verticals. Revenue rose 19% to $57.8 million, with free cash flow improving to $4.8 million, which already exceeds Catapult’s full-year FY24 free cash flow.
Catapult provides performance analytics tools for elite athletes and teams around the world, providing insights to optimize training, prevent injuries and improve return-to-play protocols. The company’s offerings span three main segments: Performance & Health, which includes wearable technology and athlete tracking software; Tactics & Coaching, which provides video analysis tools for game strategies; and Media & Other, covering media licensing and athlete management services. The company has customers in more than 40 sports around the world.
Catapult CEO Will Lopes highlighted the success of the company’s software-as-a-service (SaaS) growth strategy. “Our Performance & Health vertical has delivered another predictable and reliable performance, and we continue to see increased adoption of our new video solutions,” noted Lopes. ACV retention remained high at 96.2%, while customer lifetime increased to 7.6 years. The company also achieved an incremental profit margin of 75%, reflecting increased efficiency.
Notable product developments include the launch of NCAA football sideline video analytics, live insights for UEFA’s Euro 2024, and new custom algorithms for sports like basketball and rugby. Looking ahead, Catapult expects strong ACV growth and increased free cash flow, with continued innovation in athlete and team performance solutions to drive further growth.
The shares are trading up 8.75% at $2.86.