Key Highlights

  • Audinate develops and licenses Dante, the dominant standard for distributing digital audio over standard IP networks.
  • Catapult Sports Ltd — formerly Catapult Group International Limited, still trading under ASX Code CAT, ABN 53 164 301 197 — sells athlete monitoring and video analysis technology to professional and college sports organisations.
  • Austco Healthcare designs, manufactures and installs clinical communications systems for hospitals and aged care facilities.
  • The three businesses combine different Revenue models, Capital needs and execution priorities within the Growth Stocks sector.

Audinate Group (ASX:AD8), Catapult Sports (ASX:CAT) and Austco Healthcare (ASX:AHC) approach FY2027 from different operating positions. Their latest company disclosures show how revenue quality, cash conversion and delivery against announced programs matter more than a shared sector label.

Each company is assessed on its own reporting calendar and Business model. The discussion below retains company-reported financial measures and announced plans while separating those facts from assumptions about future outcomes.

Company Business

Audinate Group Limited (ASX:AD8)

Audinate develops and licenses Dante, the dominant standard for distributing digital audio over standard IP networks. Rather than selling finished equipment, it sells chips, modules, cards and software licences to original equipment manufacturers, who embed Dante into mixing desks, amplifiers, microphones, speakers and conferencing hardware. Dante is the interoperability layer that lets those products work together across a venue or broadcast facility.

Catapult Sports Ltd (ASX:CAT)

Catapult Sports Ltd — formerly Catapult Group International Limited, still trading under ASX code CAT, ABN 53 164 301 197 — sells athlete monitoring and video analysis technology to professional and college sports organisations. Its wearables track load, speed, acceleration and physiological metrics; its video products handle coaching analysis, tactical review and, more recently, recruitment scouting.

Austco Healthcare Limited (ASX:AHC)

Austco Healthcare designs, manufactures and installs clinical communications systems for hospitals and aged care facilities. Its core product family is Tacera, a nurse call and clinical care communications platform, supported by Medicom hardware, the Pulse Mobile collaboration application, Pulse Insights analytics and real-time location capability.

Financial Performance

Audinate Group Limited (ASX:AD8)

Audinate reorganised during FY2026 into three divisions: embedded components sold to OEMs, installed products such as adaptors, and AV system software and services including Dante Director. The third matters most strategically, carrying subscription characteristics rather than one-off hardware economics. The company is also moving beyond audio: in July 2025 it acquired US-based Iris Studio Inc for roughly A$31 million, adding camera control and video production workflow technology, with the Iris SaaS platform launched in December 2025.

Audinate released FY2026 results on 17 August 2026. Revenue was USA$46.0 million, up 14.9% on USA$40.0 million in FY2025; in Australian dollars — the statutory reporting currency — it was A$67.775 million, up 9.2%, with the gap explained by currency. Gross Profit was USA$37.7 million at an 82.0% margin, effectively unchanged from 82.1%.

Catapult Sports Ltd (ASX:CAT)

The business runs on annual subscriptions, with more than 95% of revenue recurring. It reports two principal segments plus a smaller media business: Performance & Health, covering wearables and athlete monitoring, and Tactics & Coaching, covering video and tactical analysis.

Catapult released FY2026 results on 20 May 2026. Revenue was USA$140.7 million, up 20.8% on a reported basis and 19% in constant currency. ACV reached USA$133.8 million, up 28% in constant currency, of which roughly 18 percentage points was organic and the balance came from the IMPECT and Perch acquisitions.

Austco Healthcare Limited (ASX:AHC)

The revenue model has three layers: equipment sales generate the initial hardware revenue, installation and project work follows, and software licences plus software maintenance agreements (SMAs) produce recurring income over agreements running one to five years. Austco has an installed base of more than 5,000 healthcare facilities across more than 60 countries, which supplies the pool from which maintenance and software revenue is drawn.

Austco released FY2026 results on 26 August 2026. Revenue was a record A$94.2 million, up 16%, split A$48.2 million in the first half (up 30.7%) and A$46.0 million in the second half (up just 3.4%) — a marked slowdown reflecting hospital project timing.

Sector Context

The companies serve different parts of the growth stocks economy, so their revenue and cost structures are not directly interchangeable. Contract duration, recurring income, customer concentration, Capital Expenditure and Acquisition accounting can materially change how headline growth appears in each set of accounts.

A useful comparison therefore starts with the source of revenue and the cash required to support it. Reported guidance remains conditional on management execution, customer activity and the timing of announced projects or integrations.

Risks to Consider

Audinate Group Limited (ASX:AD8)

Audinate remains exposed to a slower-growing end market it does not control. Its own commentary points to industry growth roughly halving, and Dante's high Market Share means the company largely grows with the category rather than by taking share from it.

Catapult Sports Ltd (ASX:CAT)

The distance between management EBITDA of USA$24.7 million and a statutory net loss of USA$23.9 million is the central issue in assessing profitability. Share-based payments and acquisition charges are real costs to shareholders even when excluded from adjusted measures, and the loss widened rather than narrowed.

Austco Healthcare Limited (ASX:AHC)

The second-half slowdown to 3.4% revenue growth is the most concrete concern in the FY2026 result, and it points to the underlying issue: Austco depends on hospital and aged care capital programs, which are lumpy and subject to government funding cycles.

What to Watch Next

Audinate Group Limited (ASX:AD8)

Below gross profit, the picture deteriorated. Operating expenses rose 17% to A$59.1 million on the Iris acquisition and higher incentive costs, producing an underlying EBITDA loss of A$3.6 million against a A$0.7 million profit in FY2025. The statutory loss attributable to members was A$19.617 million, from a A$25.776 million loss before income tax.

Execution risk on Iris is real: the acquisition consumed a large slice of the Balance Sheet and generated a A$3.0 million post-tax loss in FY2026. Component Supply constraints and tariff-driven Manufacturing relocation by OEM customers add further uncertainty, and cash has fallen roughly 40% in a year, shortening the runway for further loss-making investment.

Catapult Sports Ltd (ASX:CAT)

Two points of mechanics matter. Catapult's financial year ends on 31 March, so FY2026 covers the 12 months to 31 March 2026 — a different period entirely from the June-year results most ASX companies report — and it reports in US dollars. By the end of FY2026 it served more than 5,500 teams across more than 40 sports, including over 4,100 professional teams, with roughly 940 employees. Its headline metric is annualised contract value (ACV), the run-rate value of subscription contracts in place.

The statutory picture was less flattering: a net loss of USA$23.9 million, wider than FY2025's USA$8.8 million, attributed to IMPECT acquisition charges plus share-based compensation and associated payroll tax.

Austco Healthcare Limited (ASX:AHC)

Two transactions bracket the result. On 24 July 2026 Austco Marketing & Service (Asia) Pte Ltd was awarded an approximately A$4.2 million ten-year maintenance contract by Jurong Health Campus in Singapore, covering Ng Teng Fong General Hospital and Jurong Community Hospital, running from 1 October 2026 to 30 September 2036, with revenue recognised across the term. On 10 August 2026 Austco announced the acquisition of Medical Communications Systems, its certified nurse call reseller to the South Australian aged care sector since 2011, completing on 13 August. Consideration was A$2.88 million — A$2.24 million upfront plus a A$640,000 earnout — struck at 3.5 times normalised EBITDA and expected to add roughly A$1.88 million of net incremental revenue and A$820,000 of incremental EBITDA on a full-year basis.

Earlier, a FY2026 trading update at the end of May 2026 saw the shares fall sharply despite forecasting higher profit growth, with attention on EBITDA Margin compression and on the fact that around A$1.0 million of the profit uplift came from a non-recurring accounting adjustment linked to the G&S Technologies acquisition.

How to Read the Current Position

The clearest assessment will come from subsequent company reporting. Revenue should be read alongside margins and cash flow, while acquisition-led growth should be distinguished from organic activity. Guidance and longer-term targets are company objectives rather than assured outcomes.