Catapult Sports Ltd. · ASX:CAT
Catapult Sports — Q2 2026 Earnings Presentation
42 slides from Catapult Sports's earnings presentation, Nov 18, 2025
Slide 1: 1H FY26 Results
1H FY26 RESULTS NOVEMBER 18, 2025 WILL LOPES Chief Executive Officer & Managing Director BOB CRUICKSHANK Chief Financial Officer
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: We Are the Standard for Professional Sports
WE ARE THE STANDARD FOR PROFESSIONAL SPORTS 40+ SPORTS 100+ COUNTRIES 5,000+ T E A M S G L O B A L LY 3
Slide 4: Unleash the Potential of Every Team and Athlete on Earth
OUR VISION UNLEASH THE POTENTIAL OF EVERY TEAM AND ATHLETE ON EARTH 4
Slide 5: Will Lopes – Overview
WILL LOPES CHIEF EXECUTIVE OFFICER & MANAGING DIRECTOR OVERVIEW FINANCIAL REVIEW STRATEGY & OUTLOOK Q&A 5
Slide 6: Delivered Record Rule of 40 Performance
DELIVERED RECORD RULE OF 40 PERFORMANCE — STRONGEST YET Rule of 40* 40% ACV GROWTH (CC) 33% 19% 31% 30% 21% 20% MANAGEMENT EBITDA % 14% 10% 0% 1H24 1H25 1H26 * Rule of 40 is defined as the sum of annual ACV growth percentage on a constant currency (CC) basis and Management EBITDA margin CONFIDENTIAL
Slide 7: Driven by Another Record Half of Incremental ACV Growth
DRIVEN BY ANOTHER RECORD HALF OF INCREMENTAL ACV GROWTH ACV REVENUE MANAGEMENT EBITDA US$115.8M (A$175M) US$67.6M (A$102M) US$9.7M (A$14.7M) ↑ 19% YoY (CC) ↑ 16% YoY (CC) ↑ 50% YoY (CC) CONFIDENTIAL Important Note: ACV, ACV Growth (CC, constant currency), and Management EBITDA financial information
Slide 8: Underpinned by a Strong SaaS Engine
UNDERPINNED BY A STRONG SAAS ENGINE ACV RETENTION ACV PER PRO TEAM MULTI VERTICAL PRO TEAMS 95% ↑8% ↑26% CONFIDENTIAL Important Note: ACV Retention, ACV Per Pro Team, and Multi Vertical Pro Teams financial information in this slide has not been independently audited or reviewed, and does not form pa
Slide 9: Continues to Deliver Significant Incremental Profit
THAT CONTINUES TO DELIVER SIGNIFICANT INCREMENTAL PROFIT US$M 1H25 1H26 Incremental Our target is to keep at least 30% for every additional US$1 of revenue we generate as profit We continued to benefit from improvements in Revenue 57.8 67.6 9.8 efficiencies across our variable costs Variable Cos
Slide 10: While Maintaining a Relentless Focus on Innovation
WHILE MAINTAINING A RELENTLESS FOCUS ON INNOVATION VECTOR 8 HUB PRO PERCH Delivered major web Expanded Hub Pro to support Integrated Perch’s velocity- experience upgrades for faster remote workflows that sync based training technology into data editing, streamlined seamlessly with in-office staff th
Slide 11: Bob Cruickshank – Financial Review
BOB CRUICKSHANK CHIEF FINANCIAL OFFICER OVERVIEW FINANCIAL REVIEW STRATEGY & OUTLOOK Q&A 11
Slide 12: ACV Continues to Demonstrate Consistent and Reliable Growth
ACV CONTINUES TO DEMONSTRATE CONSISTENT AND RELIABLE GROWTH Total ACV (US$M) 120 115.8 2.6 100 96.8 2.6 35.7 ACV, our leading indicator of future SaaS revenue, continues to demonstrate strong growth, powered by a 79.7 dual SaaS engine 80 30.7 2.4 Normalizing to exclude acquired ACV from Perch, a
Slide 13: Both P&H and T&C Verticals Are Driving Growth
BOTH P&H AND T&C VERTICALS ARE DRIVING GROWTH Performance & Health ACV (US$M) Tactics & Coaching ACV (US$M) 80 40 70 35 60 30 50 25 40 20 77.5 35.7 63.6 30.7 30 15 51.7 25.6 20 10 10 5 - 1H24 1H25 1H26 1H24 1H25 1H26 P&H grew 21% (CC) YoY as core wearables product drives adoption T&C grew 16% (CC) Y
Slide 14: ACV per Team Continued to Expand
ACV PER TEAM CONTINUED TO EXPAND AS WE GROW SHARE OF WALLET Average Pro Team ACV (US$K) Multi Vertical Pro Teams 29 900 28 750 27 600 26 25 450 28.3 836 24 663 26.5 300 23 368 23.7 150 22 21 1H24 1H25 1H26 1H24 1H25 1H26 Important Note: ACV, ACV Growth (CC, constant currency), and Multi Vertical Pro
Slide 15: Retention Rates Remain Best-in-Class
RETENTION RATES REMAIN BEST-IN-CLASS ACV Churn (%) 5% ACV Churn was impacted by our exit from Russia in 2H FY25. Excluding Russia, ACV Churn would be 3.9%, 4% consistent with 1H FY25 3% 4.9% 2% 3.8% 3.6% 1% 1H24 1H25 1H26 Important Note: ACV Churn and ACV Retention financial information in this sl
Slide 16: Strong SaaS Results Increases Confidence in Future Revenue
STRONG SAAS RESULTS INCREASES CONFIDENCE IN FUTURE REVENUE 1H26 1H25 % CHANGE OPENING ACV (US$M) 101.2 86.8 $19M of incremental ACV added YoY NET INCREMENTAL ACV 11.8 9.1 29% More than 400 Pro Teams added YoY FX IMPACT 2.8 0.9 nm ACV per Pro Team continues to increase, and now exceeds $28K per
Slide 17: Recurring Revenue Demonstrating High-Quality Growth
RECURRING REVENUE DEMONSTRATING HIGH-QUALITY GROWTH Revenue Categories (US$M) 80 67.6 3.8 60 57.8 8.3 4.6 16% 49.8 5.9 SaaS 5.1 Revenue YoY Growth (CC) 5.0 US$64M 40 94% Recurring Revenue Recurring 55.5 Revenue 47.4 20 39.7 1H24 1H25 1H26 SaaS Other Recurring Capital Important Note: SaaS Revenue, Sa
Slide 18: Cost of Growth Continues to Decline Towards Long Term Target
COST OF GROWTH CONTINUES TO DECLINE TOWARDS LONG TERM TARGET Revenue & Variable Costs (US$M) 80 60% 56% 52% Variable Costs are made up of COGS, Delivery, and Sales & Marketing costs 49% 50% 45% 60 Variable Costs continue to improve, led by efficiencies in Sales & Marketing, 40% and Delivery cost
Slide 19: Share Price Success Impacted Fixed Costs, But Core Trend On Track
SHARE PRICE SUCCESS IMPACTED FIXED COSTS, BUT CORE TREND ON TRACK Revenue & Fixed Costs (US$M) Fixed Costs consist of our G&A and R&D 80 50% functions (R&D capitalized and expensed) 43% Fixed Costs increased by 18%, impacted by a larger than anticipated payroll tax 40% 37% 37% expense from the v
Slide 20: Expanding Our Operating Profit Margin
EXPANDING OUR OPERATING PROFIT MARGIN Revenue vs. OPEX and Profit Margin as a % of Revenue 80 160% We have now delivered US$29M of positive operating profit margin (Management EBITDA) since crossing our critical inflection 67.6 point 24 months ago 60 120% 49.8 57.8 As revenue continues to grow,
Slide 21: Growing Our Free Cash Flow
GROWING OUR FREE CASH FLOW Free Cash Flow ex TC (US$M) 10 Free Cash Flow increased US$3.4M YoY to 8.2 $8.2M, when excluding Transaction Costs, 8 which consists primarily of the $3M cash settlement related to the acquisition of Perch, along with related advisory fees 3.8 6 At the end of 1H FY26,
Slide 22: Profit & Loss Summary
PROFIT & LOSS SUMMARY FOR THE 6 MONTHS ENDED SEPTEMBER 30 1H26 1H25 Change % Change (US$M) REVENUE 67.6 57.8 9.8 16.9% Improved Gross Margin, slightly offset by increased COGS 14.0 12.1 1.9 15.6% revenue contribution from Media business YoY GROSS PROFIT 53.7 45.8 7.9 17.3% Variable costs, exclud
Slide 23: Will Lopes – Strategy & Outlook
WILL LOPES CHIEF EXECUTIVE OFFICER & MANAGING DIRECTOR OVERVIEW FINANCIAL REVIEW STRATEGY & OUTLOOK Q&A 23
Slide 24: Substantial Market for Catapult
SUBSTANTIAL MARKET FOR CATAPULT PRO SPORTS TECHNOLOGY ADJACENT MARKETS US$71.7B 20K Pro Teams High School & Youth Sport Teams Major Sporting Leagues Men & Women First Responders Feeder Divisions NCAA Athletics Pro Team Academies Military US$36.0B National Teams 2025 Olympic Teams Medical market size
Slide 25: Strong Value Proposition
STRONG VALUE PROPOSITION HELP TEAMS MAKE BETTER DECISIONS THROUGH A COMPREHENSIVE ALL-IN-ONE TECHNOLOGY SAVE TIME DISCOVER INSIGHTS Help teams make better use of Contextualize data to increase time with improved workflows access to meaningful insights CONFIDENTIAL 25
Slide 26: Driven by the World's Most Powerful Platform for Pro Teams
ibdroot\projects\IBD-HK\sign2025A\972153_1\15. ASX Announcements\Investor Presentation\Project Hammer - Investor Presentation_vPF.pptx DRIVEN BY THE WORLD’S MOST POWERFUL PLATFORM FOR PRO TEAMS SCOUTING ATHLETE PERFORMANCE VIDEO ANALYSIS TACTICAL ANALYSIS IMPECT 8 Vector 8 + ClearSky Perch MatchTrac
Slide 27: A Strong Competitive Moat
A STRONG COMPETITIVE MOAT One-stop multi-solution platform Proprietary AI algorithms Comprehensive solutions in a single ecosystem Unique insights driving improved performance outcomes Flexible Tech Stack Global scale Adaptable architecture for bolt-on solutions Worldwide operational leverage Action
Slide 28: We Have Clear Mid-Term Milestones
WE HAVE CLEAR MID-TERM MILESTONES MID-TERM TARGET MARKET OPPORTUNITY LAND 5K PRO TEAMS • Uniquely differentiated in P&H • Largest player in market & 5x nearest wearables competitor EXPAND 50% MULTI-VERTICAL • Cross sell integrated solutions • Attractive economics in T&C RETAIN 95% RETENTION RATE • P
Slide 29: Designed for Profitable Growth at Scale
DESIGNED FOR PROFITABLE GROWTH AT SCALE METRIC KEY ITEMS TARGET Revenue 100% While we have ambitious top-line growth goals, our commitment to growing profitably is unchanged Video Hardware COGS 20% • Data & Hosting Cost of Growth (Variable Cost) • • License Royalty • Support Our focus on SaaS cr
Slide 30: With Clear Measures of Success
WITH CLEAR MEASURES OF SUCCESS RULE OF 40 IS OUR FOCUS ACV GROWTH (19%1) MANAGEMENT EBITDA (14%2) Variable Cost Fixed Cost Pro Team Count ACV per Pro Team ACV Retention Efficiency Discipline 3,878 US$28.3k 95.1% 49% 37% Continue to land new Through a Continue to invest in Support growth, Leverage ou
Slide 31: FY26 Outlook
FY26 OUTLOOK Our objective is to deliver on our strategic priorities with a continued focus on profitable growth. In FY26, we continue to expect: • ACV growth to remain strong with low churn • Continued improvement in cost margins towards our targets • Higher Free Cash Flow (excluding transaction co
Slide 32: Today's Key Take-Aways
TODAY’S KEY TAKE-AWAYS STRONG PROFITABLE GROWTH HEALTHY SAAS ENGINE DELIVERING ON EXPECTATIONS 32
Slide 33: Uniquely Positioned for a Global Opportunity
UNIQUELY POSITIONED FOR A GLOBAL OPPORTUNITY SIGNIFICANT GLOBAL PROVEN MARKET OPPORTUNITY LEADERSHIP POSITION BUSINESS MODEL US$71bn+ Market (2030) SaaS revenue is multiples the Scalable, subscription opportunity in delivering nearest P&H competitor business model driving industry leading solutions
Slide 34: Q&A
The picture can't be displayed. Q&A 34
Slide 35: Appendix
The picture can't be displayed. APPENDIX 35
Slide 36: Appendix – Balance Sheet
APPENDIX – BALANCE SHEET AS AT SEPTEMBER 30 (US$M) 1H26 1H25 CASH 11.27 9.74 TRADE AND OTHER RECEIVABLES 24.69 20.26 INVENTORY 1.92 0.87 PPE 33.88 33.37 GOODWILL 77.28 51.50 OTHER INTANGIBLE ASSETS 67.88 50.23 DEFERRED TAX ASSETS 2.01 8.32 TOTAL ASSETS 218.92 174.29 TRADE AND OTHER PAYABLES 12.60 8.
Slide 37: Appendix – Profit & Loss
APPENDIX – PROFIT & LOSS FOR THE 6 MONTHS ENDED SEPTEMBER 30 (US$M) 1H26 1H25 REVENUE 67.64 57.84 OTHER INCOME 0.00 0.02 COST OF GOODS SOLD (13.99) (12.09) EMPLOYEE BENEFITS EXPENSE (24.78) (22.71) EMPLOYEE SHARE-BASED PAYMENT EXPENSE (7.68) (5.06) CAPITAL RAISING AND LISTING EXPENSES (0.13) (0.07)
Slide 38: Appendix – Cash Flow
APPENDIX – CASH FLOW FOR THE 6 MONTHS ENDED SEPTEMBER 30 (US$M) 1H26 1H25 OPERATING CASH FLOW RECEIPTS FROM CUSTOMERS 79.51 70.97 PAYMENTS TO STAFF AND SUPPLIERS (55.11) (50.66) OTHER OPERATING CASH FLOW 0.03 (0.06) NET CASH FLOW FROM OPERATING ACTIVITIES 24.43 20.26 INVESTING CASH FLOW ACQUISITION
Slide 39: Capex Table
CAPEX TABLE Capitalized Development (US$M) 12 16.5% 15% 13.9% 10 13.5% FOR THE 6 MONTHS 1H26 1H25 CHANGE % CHANGE ENDED SEPTEMBER 30 (US$M) CAPITALIZED DEVELOPMENT 9.4 7.8 1.6 20.2% 8 PERFORMANCE & HEALTH 4.0 3.5 0.5 13.8% 10% TACTICS & COACHING 5.4 4.3 1.1 26.8% 6 OTHER 0.0 0.0 (0.0) -100.0% 9.4 OT
Slide 40: Management Margins
AN ESTABLISHED TRACK RECORD OF STRONG AND CONSISTENT GROWTH FY21 ** FY22 FY23 FY24 1H25 2H25 FY25 1H26 ACV ($M) 53.4 63.9 73.4 86.8 96.8 101.2 101.2 115.8 ACV ACV GROWTH (CC) 14% 23% 20% 20% 20% 18% 18% 19% ACV CHURN 5.5% 3.4% 3.8% 3.5% 3.8% 4.3% 4.3% 4.9% CUSTOME LIFETIME DURATION (YEARS) 5.8 5.8 6
Slide 41: Glossary of Terms
GLOSSARY OF TERMS TERM DEFINITION ACV or Annualized Contract Value the annualized value of all active subscription contracts in effect using an average exchange rate to US$ 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 42: Unleash Potential
UNLEASH POTENTIAL “Unleash Potential” is a trademark of Catapult Group International Ltd or its affiliates.