Catapult Sports (CAT) H2 2025 earnings summary

Executive summary

• Achieved record FY25 results with revenue up 19% to $117M, Management EBITDA up 255% to $14.8M, and ACV surpassing $101.2M, growing 18% YoY, driven by strong SaaS performance and product innovation.

• Free Cash Flow nearly doubled to $8.6M, up $4M YoY, resulting in a net cash position of over $7M.

• Served over 4,600 teams across 40+ sports and 100+ countries, including elite organizations.

• Major product launches included Vector-8, HubPro, new AI algorithms, and expanded live insights for sports analytics.

• Rule of 40 SaaS metric improved to 31%, a tenfold increase in two years.

Financial highlights

• Revenue increased 19% YoY to $117M; recurring revenue rose 21% to $110M, now 94% of total revenue.

• Management EBITDA margin reached a record 13%, with Management EBITDA at $14.8M, up $10.6M YoY.

• Free Cash Flow improved to $8.6M from $4.6M YoY; net cash position of $7M at year-end.

• Contribution margin increased to 49% from 46% YoY; incremental profit margin hit 65%, up from 43% in FY24.

• Net loss after tax narrowed to $8.8M from $16.7M YoY.

Outlook and guidance

• FY26 strategy targets continued strong ACV growth, low churn, improved cost margins, and higher free cash flow.

• ACV growth expected to remain at historical rates (mid to high teens), with potential acceleration from new products and cross-sell.

• Margin target of 30% expected around $200M revenue within three to five years.