Catapult Sports Ltd. · ASX:CAT
Catapult Sports — Catapult Group International — Shareholder Meeting (November 2017)
43 slides from Catapult Sports's shareholder meeting presentation, Nov 22, 2017
Slide 1: AGM Presentation
For personal use only AGM Presentation Dr Adir Shiffman (Executive Chairman) Joe Powell (CEO) 22 November 2017 Catapult Group International Limited | ACN 164 301 197
Slide 2: Agenda
Agenda For personal use only 1. Formal business 2. Chairman’s address 3. CEO’s address 4. Q&A 2 2
Slide 3: 1.0 Formal Business
1.0 Formal Business Dr Adir Shiffman For personal use only 3
Slide 4: Financial Statement and Reports
Financial Statement and Reports For personal use only Note: This item of ordinary business is for discussion only and is not a resolution “To receive and to consider the Annual Financial Report of the Company for the financial year ended 30 June 2017 together with the declaration of the Directors, t
Slide 5: Resolution: Adoption of Remuneration Report
Resolution 1 For personal use only Adoption of Remuneration Report To consider and, if thought fit, to pass, with, or without amendment, the following resolution as an ordinary resolution: “That, for the purpose of Section 250R(2) of the Corporations Act and for all other purposes, approval is given
Slide 6: Resolution: Re-election of Mr Shaun Holthouse as Director
Resolution 2 For personal use only Re-election of Mr Shaun Holthouse as Director To consider and, if thought fit, to pass, with, or without amendment, the following resolution as an ordinary resolution: “That Shaun Holthouse, a Director who retires by rotation in accordance with the Company’s Consti
Slide 7: Resolution: Re-election of Mr Igor van de Griendt as Director
Resolution 3 For personal use only Re-election of Mr Igor van de Griendt as Director To consider and, if thought fit, to pass, with, or without amendment, the following resolution as an ordinary resolution: “That Igor van de Griendt, a Director who retires by rotation in accordance with the Company’
Slide 8: Resolution: Approval of Employee Incentive Scheme
Resolution 4 For personal use only Approval of Employee Incentive Scheme To consider and, if thought fit, to pass, with, or without amendment, the following resolution as an ordinary resolution: “That, for the purposes of ASX Listing Rule 7.2 (exception 9) and for all other purposes, the Shareholder
Slide 9: Resolution: Ratification of prior issue of equity securities
Resolution 5 For personal use only Ratification of prior issue of equity securities To consider and, if thought fit, to pass, with, or without amendment, the following resolution as an ordinary resolution: “That, for the purposes of ASX Listing Rule 7.4 and for all other purposes, the Shareholders r
Slide 10: Other Business
Other Business For personal use only Opportunity for any other business that can lawfully be brought forward before closing formal proceedings. 10
Slide 11: 2.0 Chairman's Address
2.0 Chairman’s Address Dr Adir Shiffman For personal use only 11
Slide 12: 3.0 CEO's Address
3.0 CEO’s Address Mr Joe Powell For personal use only 12
Slide 13: CEO's Address Agenda
Agenda CEO’s Address For personal use only Our Purpose 3.1 FY17 Results Overview 3.2 FY17 Operational Highlights 3.3 Strategy Update and Outlook 13 13
Slide 14: Our Purpose
Our Purpose: To build and improve the performance of athletes and sporting teams For personal use only Optimise Performance Return to Competition Injury Risk Management Plan and deliver training stimuli that Map player recovery and Manage training load to minimise risk are appropriate to the needs o
Slide 15: 3.1 FY17 Results Overview
3.1 FY17 Results Overview For personal use only 15
Slide 16: Delivering strong growth and scale
Group revenue Group underlying Elite ARR (A$m) Delivering For personal use only (A$m) EBITDA (A$m) strong growth 60.8 2.9 250% 46.1 242% and scale 17.4 13.5 We create technology to help athletes and teams perform to -4.4 their true potential FY16 FY17 FY16 FY17 30 Jun 16 30 Jun 17 Elite clients Grou
Slide 17: Consistently Performing In Line With Guidance
Consistently Performing In Line With Guidance For personal use only Underlying EBITDA positive for the first time since subscription model commenced in 2012 Recurring vs one-off statutory revenue Historical underlying EBITDA 136% CAGR1 2.9 3 60.8 0 71% A$m A$m -0.9 17.4 -3 -2.5 11.3 53% 4.8 45% 28%
Slide 18: Building A Strong Recurring Revenue Business
Building A Strong Recurring Revenue Business For personal use only 46.1 Group ARR Elite video Elite video • ARR up 4% YoY Elite wearables • c. 430 client teams (up c. 30 teams YoY) 27.2 Elite wearables A$m • ARR up 41% YoY • LTV/CAC of 8x for elite wearables subscription units 19.0 • 62% of FY17 sal
Slide 19: R&D Focused On Product Development And Growth Initiatives
R&D Focused On Product Development And Growth Initiatives For personal use only • Expenditure skewed toward product development and growth initiatives Research and development costs1 • Significant R&D and product investment focused on 8.0 20% extending value proposition and driving entry into new sp
Slide 20: Seasonal Cash Collection Cycle
Seasonal Cash Collection Cycle For personal use only Full benefit of XOS’s working capital cycle available in FY18 Group operating cash receipts • Positive Q1 FY18 net operating cash flow of $8.3m 30 Pre XOS acquisition Post XOS acquisition* • Cash and cash equivalents up 20% on the previous quarter
Slide 21: Establishing Global Scale
Establishing Global Scale For personal use only Regional revenue breakdown 60.8 73% A$m Hub offices 17.4 Melbourne, Aus Boston, USA 36% 16% Chicago, USA 34% London, UK 13% 4% 7% 289 employees1 16% Leeds, UK FY16 FY17 (vs 125 a year ago) Australia APAC (ex Australia) EMEA USA Regional Leadership Team
Slide 22: 3.2 FY17 Operational Highlights
3.2 FY17 Operational Highlights For personal use only 22
Slide 23: Elite Wearables
Elite Wearables Another record year For personal use only Key achievements in FY17 • 9,712 units sold and more than 200 teams added • An additional 3 league-wide deals • Released next-gen Openfield platform (including mobile and tablet apps) • Continued global ClearSky stadium installs – 16 stadiums
Slide 24: Elite Video
Elite Video Integrated and accelerated growth For personal use only Key achievements in FY17 • Accelerating revenue growth (10.4%1 in FY17 vs 3.6% in FY16) • Successful acquisition and integration into Catapult Group • Marquee client wins, including first international sale to German Ice Hockey team
Slide 25: Another Four League-Wide Deals In FY17
Catapult’s first video- based league-wide deal Another four For personal use only League-Wide Deals In FY17 League-wide deals deliver strategic benefits to the business and are an efficient way to penetrate greenfield markets Australia’s National Argentina’s Liga Wales Rugby Union National Hockey Le
Slide 26: Data Commercialisation
Data Commercialisation Successfully launched and monetised in FY17 For personal use only 1 League-wide deal Commenced (3 years) Live broadcast 2016/17 season 2 Covered all three Live broadcast + 2017 State of games in 2017 data for social 3 Origin Series series media 4 League-wide deal Commenced Liv
Slide 27: Prosumer
Prosumer Building blocks in place for FY18 next-gen launch For personal use only Aug 16 Apr 17 FY17 Step change in PLAYERTEK sales PLAYERTEK acquired PLAYERTEK by Team and platform following Apr ‘17 re-launch for A$4.9m Catapult launched build-out 2,524 • Proven, low-cost, • Upgraded hardware • Asse
Slide 28: Organisational Excellence
Organisational Excellence Building a world class team Our key values: For personal use only • Successful organisations are underpinned by a clear purpose, core values, a compelling strategy, defined goals and a high calibre engaged team to execute. • Group-wide initiatives completed in FY17: – Measu
Slide 29: 3.3 Strategy Update & Outlook
3.3 Strategy Update & Outlook For personal use only 29
Slide 30: Our Strategic Pillars
For personal use only Our Strategic Pillars OWN THE PERFORMANCE COMMERCIALISE ELITE LEVERAGE ELITE INTO How will we succeed? TECHNOLOGY STACK FOR WEARABLE & VIDEO DATA PROSUMER 1. Improve sports ELITE SPORT performance via technology and dominate • Aggressively grow share • Explore avenues to • Targ
Slide 31: Establishing The Elite Addressable Market
Pillar 1 Establishing The Elite Addressable Market For personal use only We catalogued ALL teams in ALL leagues from Universe: national, to professional and semi-professional. Total market 166,093 teams Excluded: Teams that we don’t consider elite. Medium probability: The total elite We completed a
Slide 32: Building Out The Elite Product Suite
Pillar 1 Building Out The Elite Product Suite For personal use only Other tech stack expansion Catapult has a strong track record of Integrated Performance identifying and executing compelling acquisitions, as well as pursuing Tactical Technology Stack development internally to enhance our elite off
Slide 33: The Elite Addressable Market
Pillar 1 The Elite Addressable Market For personal use only Underpenetrated market Growing addressable market Future revenue growth c. 10,000 teams1 $450m-$550m2 Plus, we think an additional 10,000 teams will push up into this market over time Data monetisation (commenced) AMS Analytics add-ons (con
Slide 34: Strong LTV/CAC For Elite Wearables
Pillar 1 Strong LTV/CAC For Elite Wearables For personal use only Very attractive elite wearable customer economics Subscription wearable LTV / CAC ratio 8 8x FY17 LTV/CAC for subscription units Key SaaS measure of long-term unit economics. >3 Time to recover subscription CAC = c. 14 months FY17 sub
Slide 35: AMS by Catapult
Pillar 1 AMS by Catapult For personal use only Analytics layer that helps sporting organisations make better and more informed decisions What is an Athlete Management System (AMS)? • SaaS modularized cloud-based platform • Acts as a store of team data and information, including: On-pitch data Off-pi
Slide 36: Tactical Analytics
This needs upgrading – have emiled John Coulson about it Pillar 1 Tactical Analytics Short bullets. Tactical image. Add lines and SHIT For personal use only What do coaches want? • To analyse what decisions players make on the field - why and how they executed them • To understand how and where play
Slide 37: Data Commercialisation
Pillar 2 Broadcast overlay1 For personal use only League-Wide Agreement Deals & Data Catapult 1 Commercialisation Successful year in FY17, demonstrating wearable data Data rights 2nd screen apps2 commercialisation proof of concept in the Rugby League State of Origin series and AFL $ 2 Finals Ser
Slide 38: The Prosumer Opportunity
Pillar 3 The Prosumer Opportunity For personal use only Large, unaddressed opportunity that Catapult is uniquely positioned to win We now know there’s a large, unaddressed market for wearable devices focused on team-based sports across Initial market: Soccer multiple sports and multiple geographies.
Slide 39: Prosumer Key Learnings
Pillar 3 Prosumer Key Learnings For personal use only • PLAYERTEK by Catapult has been an extremely useful sandbox to develop our ideas, assess our prosumer product’s market potential and inform our product development decisions PLAYERTEK by What have we learnt? Catapult has achieved a 5-star • Pros
Slide 40: Group Level Priorities In FY18
Group Level Priorities In FY18 For personal use only GROW OUR ELITE RECURRING REVENUE Consistently deliver value to our customers. Increase sales productivity. Increase elite wearables subscription mix. Win new clients. LEAGUE-WIDE DEALS & DATA COMMERCIALISATION Explore opportunities with existing a
Slide 41: FY18 Outlook: $76m-$81m Group Revenue
FY18 Outlook: $76m-$81m Group Revenue For personal use only • $76m-$81m group revenue representing 25%-33% growth on FY17 statutory revenue (17%-25% growth on FY17 pro- forma revenue) • Underpinned by strong growth in elite wearables with 66% subscription mix (62% in FY17) • Assumes AUDUSD1 = 0.77 •
Slide 42: 4.0 Q&A
For personal use only 4.0 Q&A 42
Slide 43: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Catapult Group International Limited ACN 164 301 197 (‘Catapult’). Each recipient of this presentation is deemed to have agreed to accept the qualifications, limitations and disclaimers set out below. None of Catapult and or its
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