Catapult Sports Ltd. · ASX:CAT
Catapult Sports — Investor Day (March 2025)
51 slides from Catapult Sports's investor day presentation, Mar 27, 2025
Slide 1: Investor Day
INVESTOR DAY For personal use only MARCH 27, 2025
Slide 2: Important Notice
IMPORTANT NOTICE Forward-looking statements This document contains forward-looking statements including plans and objectives. Do not place undue reliance on them as actual results may differ, and may do so materially. They reflect Catapult’s views as at the time made, are not guarantees of future pe
Slide 3: Will Lopes: Opening Comments
WILL LOPES CHIEF EXECUTIVE OFFICER For personal use only & MANAGING DIRECTOR OPENING COMMENTS SPORTS TECHNOLOGY INDUSTRY FINANCIAL STRATEGY 5
Slide 4: Our Vision: Unleash the Potential of Every Team and Athlete on Earth
OUR VISION UNLEASH THE POTENTIAL For personal use only OF EVERY TEAM AND ATHLETE ON EARTH 6
Slide 5: Sports Is Big Business
OUR INDUSTRY SPORTS IS BIG BUSINESS For personal use only >$500B ~20% $6.1B Global sports industry1 Global population watched WC final2 Record-breaking valuations3 Large Market Massive Audience Growing Value Billions in sponsorships fuel this expansion, confirming sports' immense business potential.
Slide 6: Tech Adoption Is Early and Next Decade Will Bring Seismic Change
OUR INDUSTRY TECH ADOPTION IS EARLY AND NEXT DECADE WILL BRING SEISMIC CHANGE The industry's massive revenues hide a secret. Compared The world of sports will dramatically change across three For personal use only to other sectors, tech adoption is still in its early stages. dimensions. 1 2 3 SMARTE
Slide 7: Transforming Everything That Creates Competitive Advantage
OUR INDUSTRY TRANSFORMING EVERYTHING THAT CREATES COMPETITIVE ADVANTAGE For personal use only ATHLETIC ATTRIBUTES TACTICS & STRATEGY TEAM-LEVEL PERFORMANCE Training will be personalized to very specific Real-time analysis will play a significant Predictable indicators of a team's capabilities such a
Slide 8: With Data Playing a Central Role Across All Stakeholders
OUR INDUSTRY WITH DATA PLAYING A CENTRAL ROLE ACROSS ALL STAKEHOLDERS Analysts Head Coach Asst. Coaches For personal use only TACTICS & COACHING Game Strategy • Player Performance • Team Performance Player Development • Training Development Tactics Medical Athletes Sport Scientist Health Management
Slide 9: And This Will Set Off a Technology Arms Race
OUR INDUSTRY AND THIS WILL SET OFF A TECHNOLOGY ARMS RACE Sports teams will scramble to gain every possible edge in the fast-evolving landscape focused on 2 core dimensions: For personal use only INSIGHTS TIME IMPROVEMENT Advanced analytics quickly surface Freeing up time allows for more Teams that
Slide 10: Disruption in Other Industries Serves as Valuable Guideposts
OUR INDUSTRY DISRUPTION IN OTHER INDUSTRIES SERVES AS VALUABLE GUIDEPOSTS Tech disruption has shown predictable TRANSFORMATION phases For personal use only • Strategic Reinvention - Industry is disrupted 3 • Real-time Automation OPTIMIZATION • Prescriptive analytics 2 • Predictive analytics We are s
Slide 11: And We Can Expect the Impact to Be Transformational
OUR INDUSTRY AND WE CAN EXPECT THE IMPACT TO BE TRANSFORMATIONAL For personal use only MEDIA INVESTING LOGISTICS E-COMMERCE From linear to streaming platforms Traditional brokers to digital trading Centralized to decentralized Brick-&-mortar to digital commerce • Netflix revenue grew 10x to • Algori
Slide 12: Substantial Market for Catapult
OUR INDUSTRY SUBSTANTIAL MARKET FOR CATAPULT PRO SPORTS TECHNOLOGY ADJACENT MARKETS US$71.7B 20K Pro Teams High School & Youth For personal use only Sport Teams Major Sporting Leagues Men & Women First Responders Feeder Divisions NCAA Athletics Pro Team Academies Military US$36.0B National Teams 202
Slide 13: Greatest Opportunity Centered on Team Sports
OUR INDUSTRY WITH GREATEST OPPORTUNITY CENTERED ON TEAM SPORTS The six largest sports are expected to contribute the large majority of market growth Sports Technology Market Growth by Sport 30 20% For personal use only 25 15% 20 US$ Billions 15 10% 10 5% 5 0 0% Soccer Baseball Motorsports American I
Slide 14: Catapult Is Uniquely Positioned to Lead and Capitalize on This Revolution
CATAPULT IS For personal use only UNIQUELY POSITIONED TO LEAD & CAPITALIZE ON THIS REVOLUTION 16
Slide 15: Strong Value Proposition
OUR COMPETITIVE ADVANTAGE STRONG VALUE PROPOSITION HELP TEAMS MAKE BETTER DECISIONS THROUGH A COMPREHENSIVE ALL-IN-ONE TECHNOLOGY For personal use only SAVE TIME DISCOVER INSIGHTS Help teams make better use of Contextualize data to increase time with improved workflows access to meaningful insights
Slide 16: A Scalable Platform That Integrates Seamlessly Across Applications
OUR COMPETITIVE ADVANTAGE A SCALABLE PLATFORM THAT INTEGRATES SEAMLESSLY ACROSS APPLICATIONS PERFORMANCE & HEALTH TACTICS & COACHING MEDIA & OTHER For personal use only ATHLETE MONITORING PRO VIDEO SUITE (NEW VIDEO SOLUTION) APPLICATIONS MEDIA SERVICES • Vector Pro (LPS/GPS) • MatchTracker • Content
Slide 17: Powered by a Vast Global Dataset of Athletes
OUR COMPETITIVE ADVANTAGE WE ARE POWERED BY A VAST GLOBAL DATASET OF ATHLETES For personal use only VAST AND GENERATING CREATING FURTHER INVALUABLE UNPARALLELED SUPERIOR ENHANCING DATA RESOURCE INSIGHTS EXPERIENCE LEADERSHIP 5 petabytes, and With vast multi-sport Our clients access the With superior
Slide 18: Working with a Global Network of Pro Teams
OUR COMPETITIVE ADVANTAGE WORKING WITH A GLOBAL NETWORK OF PRO TEAMS • Catapult is already deeply embedded in the workflow of 3,400+ Pro teams • A major global presence with employees based in over 40 countries For personal use only North America South America Europe, Middle East & Africa Asia Pacif
Slide 19: Creating a Strong Competitive Moat
OUR COMPETITIVE ADVANTAGE CREATING A STRONG COMPETITIVE MOAT One-stop multi-solution platform Proprietary algorithms Comprehensive solutions in a single ecosystem Unique insights driving improved performance outcomes For personal use only Flexible Tech Stack Global scale Adaptable architecture for b
Slide 20: Despite Leadership Position, We Are Just Getting Started
DESPITE CATAPULT’S For personal use only LEADERSHIP POSITION, WE ARE JUST GETTING STARTED 22
Slide 21: Massive Opportunity to Land New Customers
OUR OPPORTUNITY WE HAVE A MASSIVE OPPORTUNITY TO LAND NEW CUSTOMERS For personal use only EMEA 6,221 Teams Catapult remains Penetration underpenetrated in its global market of ~20k Pro teams 18% North America 9,413 Teams Catapult has now established APAC scale to be able to go deeper in Penetrat
Slide 22: Massive Opportunity to Expand Within Our Customers
OUR OPPORTUNITY WE HAVE A MASSIVE OPPORTUNITY TO EXPAND WITHIN OUR CUSTOMERS MULTI-VERTICAL CUSTOMER BASE PENETRATION (1H FY25) For personal use only 19.1% 80.9% Single Vertical Multi-Vertical CONFIDENTIAL 24
Slide 23: A Massive Opportunity to Integrate New Solutions
OUR OPPORTUNITY TACTICS & COACHING A MASSIVE OPPORTUNITY TO INTEGRATE NEW SOLUTIONS • Automated video capturing • Video repository & archive MEDIA & ENGAGEMENT • Video editing & analysis • Event data insights • Game day tracking • Sideline video review • Official statistics • Presentations and teach
Slide 24: Which Makes Us Very Bullish on Our Future
OUR OPPORTUNITY WHICH MAKES US VERY BULLISH ON OUR FUTURE ACV ($USM) 1000 10X For personal use only 10X ACV 800 8X 600 6X While ambitious, we are bullish in attaining $1B ACV 400 4X 2X 200 H1FY25 FY20 0 Important Note: The financial information in this slide is provided solely to illustrate Catapult
Slide 25: Bob Cruickshank: Opening Comments
BOB CRUICKSHANK CHIEF FINANCIAL OFFICER For personal use only OPENING COMMENTS SPORTS TECHNOLOGY INDUSTRY FINANCIAL STRATEGY 27
Slide 26: Our Pathway to 10X ACV: Land and Expand
OUR FINANCIAL STRATEGY OUR PATHWAY TO 10X ACV: LAND AND EXPAND TARGET: $100k - $150k 10k LAND: 10X ACV For personal use only $1B+ TARGET: 7k – 10k Geographic Expansion P R – O Women’s Teams T E 5k A 2X ACV – M P&H S $200M+ ~ 5k Teams @ $40k Greenfield – Team TODAY Funding 2k $100M Expansions ~3.5k T
Slide 27: Financial Strategy: Financial Principles
FINANCIAL STRATEGY DRIVE TOP LINE GROWTH For personal use only GROW EFFICIENTLY FINANCIAL PRINCIPLES 29
Slide 28: We Transitioned to SaaS to Optimize Growth Through Subscriptions
OUR FINANCIAL STRATEGY WE TRANSITIONED TO SAAS TO OPTIMIZE GROWTH THROUGH SUBSCRIPTIONS Revenue (US$M) 120 Began transition to a full SaaS For personal use only 100 business in FY21, with reduction of up-front capital sales in favor of longer-term subscription contracts 80 Subscription revenues
Slide 29: How We Will Grow Our Share of Wallet
OUR FINANCIAL STRATEGY HOW WE WILL GROW OUR SHARE OF WALLET Land with P&H $20k For personal use only Upsell advanced features and algorithms 20%+ Cross-sell into T&C vertical 2X P&H ACV Renewal opportunity +20-30% That currently capture Add solutions to the platform $30-40k ACV Total ACV per Team $1
Slide 30: We Know How to Land New Pro Teams
OUR FINANCIAL STRATEGY WE KNOW HOW TO LAND NEW PRO TEAMS Pro Teams 4,000 The Pro team TAM is made up of 20,000+ teams, with significant whitespace in the 3,470 P&H vertical For personal use only 3,317 3,031 We are the technological and market 3,000 leader in this space 2,604 Our world-wide com
Slide 31: Steadily Growing ACV per Team
OUR FINANCIAL STRATEGY AND WE’VE BEEN STEADILY GROWING ACV PER TEAM Average ACV per Pro Team (US$K) 30 Upsell has been the primary driver of this $26.1 growth in the earlier periods For personal use only 25 $24.1 $22.8 Our cross-sell efforts are beginning to $22.1 have an impact in more recent p
Slide 32: Showing Early Success in Cross-Selling
OUR FINANCIAL STRATEGY WE ARE SHOWING EARLY SUCCESS IN CROSS-SELLING Multi-Vertical Pro Teams 800 As of 1H FY25, 19% of our Pro teams had solutions from 2 or more of our verticals; up from 11% in FY21 For personal use only 669 Cross-selling efforts are driving a clear 600 inflection in growth ra
Slide 33: All Supported by Best-in-Class Retention
OUR FINANCIAL STRATEGY ALL SUPPORTED BY BEST-IN-CLASS RETENTION Gross ACV Retention (%) 100% 99.4% 99.3% Our embeddedness and value proposition 98.0% 98.3% in team workflows continue to drive best- in-class retention For personal use only 96.5% 96.6% 96.5% 96.2% 96.2% 96% And our stickiness with
Slide 34: And Positive Net Revenue Retention Trends
OUR FINANCIAL STRATEGY AND POSITIVE NET REVENUE RETENTION TRENDS Net Revenue Retention (%) 125% 121% 121% 120% 119% For personal use only Pro Team Net Revenue Retention is 115% primarily driven by upsell activity 111% 110% 110% 107% Our products are deeply embedded 107% 106% 106% into multi-vert
Slide 35: Summarizing Where We Are Heading
OUR FINANCIAL STRATEGY SUMMARIZING WHERE WE ARE HEADING METRIC MAR’ 21 SEPT’ 24 2X MILESTONE 10X GOAL For personal use only PRO TEAMS 2,239 3,470 5,000 7-10K MULTI-VERTICAL RATE 11% 19% 50% 90%+ ACV PER PRO TEAM* $19.8K $26.1K $40.0K $150-100K PRO TEAM ACV* $44M $91M $200M $1,000M By growing both
Slide 36: Financial Strategy: Financial Principles
FINANCIAL STRATEGY DRIVE TOP LINE GROWTH For personal use only GROW EFFICIENTLY FINANCIAL PRINCIPLES 38
Slide 37: Rule of 40 Is Our Financial North Star
OUR FINANCIAL STRATEGY RULE OF 40 IS OUR FINANCIAL NORTH STAR Our performance on the Rule of 40* has significantly improved after exiting a phase of investment Rule of 40 40% The Rule of 40 serves as the most For personal use only important benchmark for measuring our 31% progress as a SaaS busine
Slide 38: Designed for Profitable Growth at Scale
OUR FINANCIAL STRATEGY DESIGNED FOR PROFITABLE GROWTH AT SCALE LONG-TERM METRIC KEY ITEMS TARGET Revenue 100% While we have ambitious top-line growth goals, our commitment to growing profitably is unchanged For personal use only Video Hardware COGS 20% • Data & Hosting Cost of Growth (Variable Cos
Slide 39: Cost of Growth Continues to Decline Towards Long Term Target
OUR FINANCIAL STRATEGY COST OF GROWTH CONTINUES TO DECLINE TOWARDS LONG TERM TARGET Revenue and Variable Costs (US$M) 120 70% 66% 66% Variable costs are made up of COGS, Delivery and Sales & Marketing functions For personal use only 60% 100 54% These costs are associated with 50% growing revenue
Slide 40: Fixed Cost as % of Revenue Dropping with Scale
OUR FINANCIAL STRATEGY WITH FIXED COST AS % OF REVENUE DROPPING W/ SCALE Revenue and Fixed Costs (US$M) 120 60% Fixed costs consist of our G&A and R&D 54% functions 52% For personal use only 100 50% R&D includes all costs, both expensed and 42% capitalized 80 40% Absolute fixed costs support t
Slide 41: Leverage Accelerating Profit Margin Growth
OUR FINANCIAL STRATEGY HIGHLIGHTING OUR LEVERAGE THAT IS ACCELERATING PROFIT MARGIN GROWTH Revenue vs. OPEX and Profit Margin (US$M) as a % of Revenue 70 150% Critical inflection point towards 132% profitability crossed For personal use only 60 $58M 102% 100% 110% OPEX (Variable + Fixed costs) a
Slide 42: Positive Impact on Free Cash Flow
OUR FINANCIAL STRATEGY AND HAVING A POSITIVE IMPACT ON FREE CASH FLOW Free Cash Flow (US$M) 10.0 As our revenue growth and cost For personal use only efficiencies accelerate profit margin growth, we are also expanding our 4.8 5.0 generation of free cash flow 3.2 1.4 We’ve made substantial progre
Slide 43: Financial Strategy: Financial Principles
FINANCIAL STRATEGY DRIVE TOP LINE GROWTH For personal use only GROW EFFICIENTLY FINANCIAL PRINCIPLES 45
Slide 44: We Want Clear Mid-Term Milestones
OUR FINANCIAL STRATEGY WE WANT CLEAR MID-TERM MILESTONES MID-TERM TARGET MARKET OPPORTUNITY LAND 5K PRO TEAMS Uniquely differentiated in P&H (Wearables) For personal use only • • Largest player in market & 5x nearest competitor EXPAND 50% MULTI-VERTICAL • Cross sell integrated solutions • Attractive
Slide 45: We Want Our Employees to Be Owners
OUR FINANCIAL STRATEGY WE WANT OUR EMPLOYEES TO BE OWNERS ALIGNED FOCUS ENHANCED RETURNS CASH PRESERVATION For personal use only • Equity plays a key role in our • Creates long-term value for • Historical dilution has been minimal employee remuneration aligning shareholders at 3-5% annually; expecte
Slide 46: In Summary – We Want Clear Measures of Success
OUR FINANCIAL STRATEGY IN SUMMARY – WE WANT CLEAR MEASURES OF SUCCESS RULE OF 40 IS OUR FOCUS For personal use only ACV GROWTH (20%1) MANAGEMENT EBITDA (11%2) Variable Cost Fixed Cost Pro Team Count ACV per Pro Team ACV Retention Efficiency Discipline 3,470 $26.5k 96.2% 52% 37% Continue to land new
Slide 47: Unleash Potential
For personal use only UNLEASH POTENTIAL
Slide 48: Appendix
The picture can't be displayed. For personal use only APPENDIX 50
Slide 49: An Established Track Record of Strong and Consistent Growth
AN ESTABLISHED TRACK RECORD OF STRONG AND CONSISTENT GROWTH FY20** FY21** 1H22 2H22 FY22 1H23 2H23 FY23 1H24 2H24 FY24 1H25 ACV (US$M) 45.5 53.4 58.8 63.9 63.9 66.2 73.4 73.4 79.7 86.8 86.8 96.8 ACV ACV GROWTH (CC)* 11.2% 14.1% 20.3% 21.7% 23.1% 19.1% 19.5% 20.2% 20.0% 17.8% 19.7% 20.9% ACV CHURN 6.
Slide 50: Glossary of Terms
GLOSSARY OF TERMS TERM DEFINITION ACV or Annualized Contract Value the annualized value of all active subscription contracts in effect using an average exchange rate to US$ over a 1-month period ending on the ACV Effective Calculation Date ACV Churn the reduction in ACV from the loss of customers ov
Slide 51: Unleash Potential
For personal use only UNLEASH POTENTIAL