Catapult Group International Achieves Record Revenue of US$100 Million, CEO Calls it a “Historic Year”
Melbourne-based sports technology company Catapult Group International has reached a significant milestone, surpassing US$100 million in annual revenue for the first time. The company’s solid growth in free cashflow has also led to an underlying profit of US$9.37 million in FY24.
CEO Will Lopes describes this achievement as a “historic year” for Catapult, attributing the success to new signings from soccer and baseball leagues in South America, Europe, and Asia. The company’s SaaS solutions played a key role in driving revenue past the US$100 million mark, with ACV accounting for US$86.8 million of total revenue, up 20% from the previous year.
Catapult has been working with elite sporting teams since 2006, providing wearable technology and video analysis to optimize player performance and prevent injuries. The company’s technology is currently used by more than 4,000 teams in over 100 countries, supported by a global workforce of 400.
The Performance & Health division of Catapult saw a 23% increase in annualized contract revenue as more teams adopted the technology. The company has also secured new partnerships with teams and leagues in soccer, baseball, and other sports around the world.
Despite a US$16.7 million loss after tax in FY24, Catapult remains focused on profitable growth in FY25. Lopes emphasizes the company’s commitment to innovation and customer satisfaction, with plans to invest in the development of new technologies and devices.
Overall, Catapult’s success in reaching the US$100 million revenue milestone highlights its position as a leader in sports technology and its potential for continued growth in the future.