Sports-tech Catapult Achieves New Revenue Milestone of US$100 Million

Melbourne-based sports technology company Catapult Group International (ASX: CAT) has reached a significant milestone, surpassing US$100 million in annual revenue for the first time. The company reported solid growth in free cash flow, leading to an underlying profit of US$9.37 million in FY24.

CEO Will Lopes described the achievement as a “historic year” for Catapult, attributing the success to the company’s SaaS solutions and new signings from soccer and baseball leagues in South America, Europe, and Asia. The company’s revenue exceeded US$100 million, with ACV accounting for US$86.8 million, up 20% from the previous year.

Catapult’s Performance & Health division, which includes wearables, saw a 23% increase in annualized contract revenue as more teams adopted the technology. The company has expanded its partnerships with teams and leagues in soccer, baseball, and other sports, including Formula 1, Nascar, and Indycar.

Despite a US$16.7 million loss after tax in FY24, Catapult remains focused on profitable growth for FY25. Lopes emphasized the company’s commitment to innovation and investment in its platform to continue providing cutting-edge technology for its customers.

With over 4,000 elite sporting teams in more than 100 countries using Catapult’s technology, the company is poised for further growth and expansion in the global sports market. As Catapult continues to scale and focus on profitability, the future looks bright for this innovative sports technology company.