Half Year 2026 Catapult Sports Ltd Earnings Call Transcript
Key Points
- Catapult Sports Ltd (CAZGF) reported a significant increase in its customer base, growing by 400 teams to over 5,000 teams worldwide in just six months.
- The company achieved a new high in the Rule of 40 metric, reaching 33%, up from 31% a year ago, indicating strong growth and profitability.
- Annual Contract Value (ACV) grew by 19% year over year, with contracted subscriptions reaching a record $116 million.
- Management EBITDA increased by 50% year over year, reaching $10 million, despite an unexpected payroll tax expense.
- The company successfully integrated new acquisitions, Perch and Impect, enhancing its product offerings and market position.
- An unexpected payroll tax expense of approximately $2 million impacted the operating profit margin.
- The exit from the Russian market had a one-time negative impact on the ACV retention rate, reducing it by around 1 percentage point.
- Fixed costs increased by 18% year over year, partly due to the payroll tax expense and the acquisition of Perch.
- The media business, despite strong growth, is considered unpredictable and historically has grown at a single-digit rate.
- The integration of new acquisitions is still in early stages, making it difficult to predict their full impact on future growth.
Thank you for standing by and welcome to the Catapult Sports first half FY26 results conference call. (Operator Instructions)
I would now like to hand the conference over to Mr. Will Lopes, Chief Executive Officer and Managing Director. Please go ahead.
Good morning, and welcome to Catapult's investor conference call for our first half FY26 results. I have with me Bob Cruickshank, Catapult's Chief Financial Officer. This morning, Bob and I will present our results, our strategy, and outlook, and then take questions from participants on the call.
It has been a momentous six months for Catapult. Just half a year ago, we reported outstanding FY25 results, meeting the high bar we had set for ourselves and building on the clear inflection point we had achieved in FY24.
Since then, we've continued to accelerate this trajectory. Five months ago, we announced the acquisition of Perch, the global leader in velocity-based training, shaping the
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