By Stuart Condie

SYDNEY--Athletic-tech provider Catapult Sports lifted annual earnings by 67%, beating analysts' forecasts on stronger operating leverage and increased product cross-sell.

Catapult, which supplies performance-tracking devices and analytics software across sports including soccer, basketball and American football, on Wednesday reported earnings before interest, tax, depreciation and amortization of $24.7 million for the 12 months through March.

That was adjusted for items such as capitalized development costs, and compared with the guidance Catapult issued in March for co-called management Ebitda growth of about 50%.

Revenue rose 21% to $140.7 million. Profit margin jumped to 18% from 13% a year earlier, with Catapult reporting a 41% margin on every additional dollar generated over the year.

Catapult, which recently acquired and integrated soccer scouting tool Impect and strength-training tracker Perch, had more than 5,500 pro-team customers at the end of March. The number of pro teams using multiple products rose 62% over the year, it said.

"We are now consistently delivering against a well-established strategy, whereby we are disciplined on costs while reinvesting in our product suite," Chief Financial Officer Bob Cruickshank said.

"This continues to result in reliable top-line growth, and repeatable operating leverage."

Operating costs represented 47% of revenue, down from 51% and close to Catapult's previously stated 45% target.

The average analyst forecast had been for management Ebitda of $20.3 million from revenue of $138.5 million, according to data compiled by Visible Alpha.

Annualized contract value, which the company sees as a key lead indicator of future revenue, grew 32% on year to almost $133.9 million.

Analysts had been looking for ACV of $131.8 million, according to Visible Alpha.

Shares in Catapult have lost more than 60% of their value since closing at a record 7.48 Australian dollars, or US$5.32, in October.

The company has been caught up in the broader global selloff of software stocks, prompted by worries including that artificial intelligence tools could undercut specialist providers and take a slice of their business.

In late March, the stock dropped 18% across two days after Catapult's guidance for free cash flow of between $5 million and $6 million fell short of consensus of about $10 million.

On Wednesday, Catapult reported annual free cash flow of $6.6 million and said it had collected the majority of the outstanding payments that had driven the miss.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

May 19, 2026 19:28 ET (23:28 GMT)

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