CAT +9.68%: the sports tech company hit 2-year highs today after announcing strong FY24 numbers. Revenue reached $US100m while Annualized Contract Value (ACV) grew 20% to $US86.8m due to price increases, additional services per team and lower churn. EBITDA of $US4.2m was slightly lower than expected, however, Free Cash Flow was well ahead of consensus, swinging into positive territory for the first time. The outlook is also strong. The company is now profitable and their revamped video & software strategy is starting to reap the rewards, likely to drive margins and sales higher in years to come.
- A great result for Catapult which we own in the Emerging Companies Portfolio.
MM remains bullish CAT
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