Catapult Sports Limited (ASX:CAT): What Do FY26 Results Reveal About Subscription Growth and Sports Analytics?

Aditi Sarkar

27 October 2026 10:21 PM AEDT

Catapult Sports Limited (ASX:CAT): What Do FY26 Results Reveal About Subscription Growth and Sports Analytics?

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Highlights

Catapult Sports Limited (ASX:CAT) reported FY26 revenue of USD 140.7mn, up 20.8% YoY.
Subscription revenue reached USD 118.6mn, increasing 23.2% YoY.
Annualised contract value rose 32.3% to USD 133.8mn at 31 March 2026.
Management EBITDA was USD 24.7mn, while statutory net loss widened to USD 24.0mn.

Catapult Sports Limited (ASX:CAT) develops athlete monitoring, video analysis and performance-data technology for professional sporting organisations. Its FY26 results showed higher subscription revenue and annualised contract value, alongside increased management earnings but a wider statutory loss. Subsequent announcements covered an expansion of its financing arrangements, the launch of IMPECT video scouting and reaffirmation of FY27 guidance. These developments frame the company’s ongoing investment in an integrated sports-technology offering.

Company Business

Catapult Sports Limited (ASX:CAT) supplies technology used by coaches, performance practitioners and recruitment teams to assess training activity, match footage and athlete workloads. Its software and connected hardware cover on-field monitoring, gym-based monitoring, video analysis, and recruitment and scouting. The company serves sporting organisations across multiple codes and international markets, with the business model emphasising recurring subscription contracts.

Its product portfolio includes wearable athlete-tracking systems, performance analysis software and tools that connect video with supporting information. These applications can be used at different stages of athlete preparation, competition analysis and recruitment decisions. The company operates in an environment where customers must evaluate spending on specialist technology against sporting budgets and established coaching practices.

Recent Development

In May 2026, Catapult Sports Limited (ASX:CAT) released results for the financial year ended 31 March 2026. Subscription growth contributed to the increase in revenue, and the group incorporated businesses acquired during the period. The FY26 financial statements also showed higher share-based compensation and acquisition-related expenses, highlighting the difference between management measures and statutory profitability.

In July 2026, the company launched IMPECT Video Scouting, extending its capabilities in football scouting and player evaluation. During August, it announced an extension and expansion of its debt facility and reaffirmed FY27 guidance at its annual general meeting. The company also published revised AGM results in October 2026; this was a governance disclosure rather than a new operating result.

Financial Performance and Sector Context

Catapult Sports Limited (ASX:CAT) recorded FY26 statutory revenue of USD 140.723mn versus USD 116.526mn in FY25, representing growth of 20.8% YoY. Subscription revenue increased 23.2% to approximately USD 118.6mn. Annualised contract value, a non-IFRS measure of active subscription contracts, reached USD 133.849mn at 31 March 2026, compared with USD 101.202mn a year earlier. Annualised contract value churn was 3.9%, against 4.3% in FY25.

Gross profit was USD 112.938mn, compared with USD 94.358mn, although statutory gross margin eased to 80.3% from 81.0%. Contribution profit advanced 29.3% to USD 74.503mn, and the contribution margin increased from 49.5% to 52.9%. Management EBITDA increased from USD 14.766mn to USD 24.712mn, lifting its margin from 12.7% to 17.6%. Management EBITDA is a company-defined, non-IFRS measure and differs from statutory EBITDA.

Statutory EBITDA decreased to USD 17.479mn from USD 18.110mn, while statutory net loss after tax widened to USD 23.960mn from USD 8.806mn. Depreciation and amortisation rose to USD 37.322mn, and acquisition-related expenses also increased. Free cash flow excluding acquisitions was USD 6.597mn, versus USD 8.598mn in FY25. The group reported USD 53.451mn cash at 31 March 2026, compared with USD 10.758mn in FY25. These measures illustrate why recurring-contract growth must be assessed alongside cash expenditure and accounting charges.

Sports-technology demand depends on professional teams’ investment cycles, adoption of integrated analytics and the ability of products to fit existing performance workflows. Subscription retention and the proportion of customers adopting multiple product categories are also important indicators of commercial engagement.

Risks to Consider

Catapult Sports Limited (ASX:CAT) faces product-development and integration risks across acquired technologies, as well as competition for spending by sporting organisations. Changes in customer budgets or adoption rates could affect new contract activity. Foreign-currency movements can influence reported revenue, while ongoing development expenditure and acquisition-related costs may affect statutory results. A distinction between non-IFRS performance measures and reported profit remains important.

What to Watch Next

The next scheduled reporting milestone for Catapult Sports Limited (ASX:CAT) is the H1 FY27 result on 17 November 2026. Relevant disclosures include changes in annualised contract value, churn, subscription growth, management margins and free cash flow. Product adoption following the IMPECT launch, integration of acquired offerings, and the use of expanded financing arrangements are additional matters to monitor. Management reaffirmed its FY27 direction in August, including continued ACV growth, low churn, progress in margins and higher free cash flow excluding transaction costs.

Key Insights

Catapult Sports Limited (ASX:CAT) generated higher revenue, subscription contracts and management EBITDA in FY26, but its statutory net loss increased. Its recent business updates emphasise expanding the breadth of sports analytics and scouting services. The forthcoming interim results will provide a closer view of whether contract development and product integration are being reflected in reported margins and cash generation.

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