Company Reports

Catapult reaffirmed fiscal 2027 guidance at its annual general meeting, expecting strong annualized contract value, or ACV, growth, low churn, improving margins, and higher free cash flow. Early sales of its Impect soccer scouting solution are good, with at least 20 professional teams signed.

We expect Catapult’s strategy to primarily focus on upselling existing customers new products and on improving the accuracy of the insights it can provide in its athlete monitoring solution. We expect the acquisition of new customers to be a secondary focus, given the reasonably high existing penetration level.

Catapult's fiscal 2026 underlying EBITDA rose 67% to USD 25 million, driven by 19% constant-currency revenue growth and strong operating leverage. Management expects profitable growth, margin expansion, and low churn to continue in fiscal 2027. Shares rallied 18%.

We expect Catapult’s strategy to primarily focus on upselling existing customers new products and on improving the accuracy of the insights it can provide in its athlete monitoring solution. We expect the acquisition of new customers to be a secondary focus, given the reasonably high existing penetration level.

We initiate coverage on Catapult, a sports analytics provider to over 5,000 professional teams across 40 sports globally. Its athlete monitoring solution helps teams manage athlete health and injury risk, while its video solution helps coaches conduct tactical analysis.

We expect Catapult’s strategy to primarily focus on upselling existing customers new products and on improving the accuracy of the insights it can provide in its athlete monitoring solution. We expect the acquisition of new customers to be a secondary focus, given the reasonably high existing penetration level.