Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.
Catapult Sports Delivers Record Revenue as Earnings Accelerate
Highlights:
Catapult Sports Achieves Strong FY26 Results
Catapult Sports Ltd (ASX: CAT), an Australian sports technology company, published its FY26 Annual Report on 29 June 2026, outlining considerable progress in subscription growth, profitability and global expansion.
For the financial year ending 31 March 2026, the company generated revenue of US$140.7 million, representing a 19% increase on a constant-currency basis. Management EBITDA advanced approximately 67% to US$24.7 million, demonstrating stronger earnings generation alongside business expansion.
Recurring Revenue Drives Business Expansion
Catapult's subscription-focused business model continued gaining traction, with annualised contract value (ACV) reaching US$133.8 million, up 28% in constant currency terms.
Importantly, underlying ACV increased 18% after removing contributions from acquired businesses, suggesting that existing operations remained an important growth driver.
Several operating indicators highlighted the company's progress:
The figures suggest Catapult is generating additional revenue by broadening customer relationships rather than relying exclusively on new subscriptions.
Acquisitions Strengthen Competitive Position
Catapult expanded its technology offering through the addition of Perch, IMPECT and selected Isolynx assets.
Perch introduced advanced gym-based athlete monitoring capabilities, while IMPECT strengthened football scouting and performance analysis.
Meanwhile, developments involving Vector 8 and artificial intelligence-driven analytics enhanced the company's ability to deliver connected performance insights.
Profitability Improves Alongside Financial Flexibility
Catapult reported a Management EBITDA margin of approximately 17.6%, reflecting greater operating leverage.
The company also generated US$6.5 million in free cash flow before transaction costs and finished FY26 holding more than US$53 million in cash without outstanding debt.
However, delayed customer payments contributed to increased receivables, making cash collection an important area to monitor.
Outlook and Future Prospects
For FY27, management expects sustained subscription growth, relatively low customer losses and further improvements in operating efficiency.
Catapult's expanding technology ecosystem offers opportunities to deepen customer engagement across international sporting organisations. Nevertheless, successful acquisition integration, disciplined expenditure and consistent cash generation will remain essential to maintaining its growth trajectory.
Note- All data presented is based on information available at the time of writing.
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