Catapult Sports Ltd. · ASX:CAT
Catapult Sports — Catapult Group International — H1 FY2017 Earnings Presentation
26 slides from Catapult Sports's earnings presentation, Feb 28, 2017
Slide 1: FY2017 Interim Results
For personal use only FY2017 Interim Results Shaun Holthouse (CEO) and Shane Greenan (CFO) Catapult Group International Limited ACN 164 301 197 28 February 2017
Slide 2: Key Highlights
Key Highlights In H1 FY17, Catapult has delivered: For personal use only Elite wearables Original elite wearables business continuing to grow 51% revenue $10.7m strongly Transformative twelve months for the business Group revenue 250% $24.8m A$14.1m in revenue delivered from new video analytics divi
Slide 3: Ready for takeoff… Unlocking Catapult's next growth phase
Ready for takeoff… Unlocking Catapult’s next growth phase For personal use only Profitable on an underlying EBITDA basis for first time since launching subscription model in 2012 Cash flow positive on an operating basis for first time Completed XOS integration project as of February 2017 and p
Slide 4: Operational Highlights
Section 1 For personal use only OPERATIONAL HIGHLIGHTS Shaun Holthouse (CEO)
Slide 5: High growth elite wearables business
High growth elite wearables business For personal use only Total units under subscription up 93% to 11,1251, with Elite wearables sales of 3,770 during the half, up subscription sales representing 67% of units ordered 35%3 on H1 FY2016 excluding league-wide deals during the half League wide de
Slide 6: High growth elite wearables business: margin and TCV
High growth elite wearables business For personal use only Elite wearables gross margin1 Total contract value (TCV)3 $12m 92% $15m $8m 88% $10m +34% Gross Margin A$m $4m 84% +18% $5m $m 80% -$4m 76% $m H1 FY15 H1 FY16 H1 FY17 H1 FY15 H1 FY16 H1 FY17 Revenue Cost of Materials GM% Adjusted TCV League
Slide 7: Transformed revenue profile
Transformed revenue profile For personal use only 250% growth in 1st half revenue, with business poised to 375% growth in ARR over 12 months to 31 Dec 2016 capitalise on traditionally stronger 2nd half H1 Revenue Annual Recurring Revenue $30m 50 +375% +250% $25m 40 $20m 30 $15m 20 $10m +51% +81% 10
Slide 8: Inflexion point in profitability with positive operating cash flow
Inflexion point in profitability with positive For personal use only operating cash flow Operating cash flow1 Underlying EBITDA2 $5.0m Underlying operating cash flow3 = $3.3m $40m $3.0m $2.5m $20m $1.5m $0.0m $0m $0.0m -$2.5m -$20m -$1.5m -$40m -$3.0m -$5.0m H2 FY15 H1 FY16 H2 FY16 H1 FY17 FY14 FY15
Slide 9: High growth strategy
High growth strategy For personal use only Own the Commercialise elite Leverage our performance wearable and growing elite brand 1 technology stack for elite sport 2 video data 3 into consumer ◻ Drives current P&L ◻ Unique and predictive ◻ Acquisition of ◻ Strong elite wearables data from wearable P
Slide 10: Catapult's elite sport performance technology is more than just wearables
Catapult’s elite sport performance technology is more than just wearables For personal use only Used across the club: -Fitness ANALYTICS to: -Rehabilitation -Tactics 3rd party Data 1.Reduce injury -List management 2 Improve performance -Player education -Skills development -Scouting Typically –1000
Slide 11: Elite Performance Technology Stack
Elite Performance Technology Stack For personal use only More than 1,250 teams worldwide Wearable Analytics + Video Analytics + Peripheral Applications THUNDERCLOUD THUNDERRADAR SCOUT + ☐ Extremely dominant with ☐ Transformative acquisition (2016) ☐ Document leading market share globally ☐ #1 market
Slide 12: League wide deals and data monetisation opportunities show promise
League wide deals and data monetisation opportunities show promise For personal use only Catapult signed a league-wide deal with Australia’s National Basketball League (NBL) that included a framework to deliver and monetise a range of next- generation applications for NBL fans across all NBL media
Slide 13: Prosumer market validation
Prosumer market validation For personal use only Continuing to sell PLAYERTEK devices – validating demand in the prosumer market with 1,146 units1 ordered during H1 FY2017 Team (building out in Europe and Taiwan) working towards the re-launch of Catapult’s prosumer hardware, software, and brandi
Slide 14: H1 FY17 Financial Results
Section 2 For personal use only H1 FY17 FINANCIAL RESULTS Shane Greenan (CFO)
Slide 15: Summary profit and loss
Summary profit and loss For personal use only HY17 HY16 Change Wearables revenue growing strongly at 51% Underlying P&L $m $m % Wearables revenue 10.7 7.1 51% Wearable revenue recorded is highly sensitive to subscription mix. Subscription orders provide diminishing Video analytics revenue 14.1 0 imp
Slide 16: Summary balance sheet
Summary balance sheet For personal use only 31-Dec-16 30-Jun-16 Summary Balance Sheet Solid balance sheet liquidity with cash ($13.9m) and net $m $m trade and other receivables ($11.7m). Assets Cash and term deposits 13.9 3.6 Increase in PP&E due mainly to increase in fleet of rental Trade and other
Slide 17: Underlying EBITDA
Underlying EBITDA For personal use only HY17 HY16 Summary EBITDA adjustments Acquisition costs relate to work undertaken in acquiring $m $m XOS and PLAYERTEK and includes all legal, accounting, tax and other due diligence related costs (including fees to Statutory EBITDA (1.6) (2.8) advisors) accrue
Slide 18: FY17 Outlook
Section 3 For personal use only FY17 OUTLOOK Shaun Holthouse (CEO)
Slide 19: FY17 Outlook
FY17 Outlook For personal use only Catapult remains on track for FY17 guidance We remain heavily focused Group revenue on growth $80m Catapult remains on track to meet its revenue targets: FY17 revenue expected to be in the $60m range of A$61.0 – A$65.5m1 Assumes subscription mix of 62% of a
Slide 20: Appendices
For personal use only Section 4 APPENDICES
Slide 21: US: Transformational growth following XOS acquisition
US: Transformational growth following XOS acquisition For personal use only % Tot Rev HY17 Revenue HY17 TCV HY17 Unit Orders Wearables $4.8m $5.3m 1,167 66% 40% of total TCV 95% 76% HY17 Revenue Combined $18.9m 553% Key movements: US revenue transformed by addition of Video Analytics busines
Slide 22: EMEA: Building towards strong H2
EMEA: Building towards strong H2 For personal use only % Tot Rev 11% HY17 Revenue HY17 TCV HY17 Unit Orders $2.9m $4.6m 1,530 60% 35% of total TCV 9% Key movements: Very strong revenue growth of 60% 31% TCV growth with 9% unit growth indicating higher ARPU sales Higher unit growth expected
Slide 23: APAC: Continuing to build out presence
APAC: Continuing to build out presence For personal use only 4% % Tot Rev HY17 Revenue HY17 TCV HY17 Unit Orders $1.0m $1.8m 536 57% 13% of total TCV 28% Key movements: Increasing subscription penetration (26% this half v 9% last half) in a traditionally capital sales dominated market 61% TC
Slide 24: Australia: Extreme market dominance
Australia: Extreme market dominance For personal use only 8% % Tot Rev HY17 Revenue HY17 TCV HY17 Unit Orders $2.0m $1.5m 537 13% 11% of total TCV (47%) Key movements: Revenue growth continuing from compounding effect of subscription business H1 FY16 units orders underpinned by league wide
Slide 25: Well-rounded team
Well-rounded team For personal use only Key additions during the half position us well for executing against strategy Matthew (Matt) Bairos (President & Chief Executive Offficer, XOS Digital) Deeply experienced in the sports technology industry, with over 16 year experience at XOS with responsibil
Slide 26: Disclaimer
Disclaimer 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. For personal use only None of Catapult and or
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