Catapult Sports (CAT) H2 2025 earnings summary

Executive summary

• Achieved record profitable growth in FY25, with revenue up 17% to US$116.5M and Management EBITDA up 255% to US$14.8M year-over-year, serving over 4,600 teams across 40 sports and 100+ countries, including elite organizations.

• Annualized Contract Value (ACV) surpassed US$100M, growing 18% YoY (constant currency), driven by strong SaaS performance and product innovation.

• Free Cash Flow increased to US$8.6M, up US$4.0M YoY, and the company is now in a net cash position of US$7M.

• ACV retention remained high at 95.7%, with churn at 4.3%, and multi-vertical pro teams grew 53% YoY.

• Major product launches included VECTOR 8, HUB PRO, new AI algorithms, and expanded live insights for sports analytics.

Financial highlights

• Revenue rose to US$116.5M from US$100.0M, a 16.5% increase YoY; recurring revenue rose 21% to US$110M, now 94% of total revenue.

• Management EBITDA margin improved to 13% (US$14.8M), up from 4.2% YoY; incremental profit margin hit 65%, up from 43% in FY24.

• Gross margin remained stable at 81%, with contribution margin up to 49.5% from 45.8%.

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

• Free Cash Flow improved to US$8.6M from US$4.6M 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 US$200M revenue, likely within three to five years.