The emerging companies space has been volatile through 2024, and it has underperformed the larger indices, but for MM, one stock jumped out at us this morning.
For members unfamiliar with Catapult Group International (CAT), it is a $590mn global sports data and analytics company that provides sporting teams and athletes with detailed, real-time data and analytics to optimise athlete performance. CAT’s products and solutions are used by more than 4,000 sports teams and athletes across over 40 sports and 100 countries worldwide.
The sports tech company is testing its 3-year highs, building on gains enjoyed back in May after the company delivered a strong FY24 report – remember, 2024 has largely seen the strong get stronger. CAT delivered 20% Annualized Contract Value (ACV) growth on a constant currency (cc) basis year-on-year (YoY), generating US$100 million in revenue for the first time, also at a growth rate of 20%. Importantly, free cash flow was well ahead of expectations, swinging into positive territory for the first time. The company is now profitable with its revamped video & software strategy and is starting to reap the rewards, likely to drive margins and sales higher in years to come.
- We feel CAT has snuck under many investors’ radar, but with 1 Hold, 3 Buys, and 1 Strong Buy on the stock, analysts are starting to notice.
MM is long and bullish towards CAT
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