Half Year 2024 Catapult Group International Ltd Earnings Call Transcript
Key Points
- Catapult Group International Ltd (ASX:CAT) reported a 21% year-on-year growth in annualized contract value (ACV), reaching nearly USD 80 million.
- The company achieved a 25% growth in SaaS revenue over the past 12 months, driven by strong performance in its core SaaS verticals.
- Catapult generated positive free cash flow of $1.4 million, marking a significant $15 million improvement from the previous year.
- The launch of new products, such as the Vector Core and upgraded heart rate monitoring system, has expanded their market reach and improved product offerings.
- The company has maintained a high retention rate of 96%, indicating strong customer satisfaction and loyalty.
- There was some confusion regarding the reclassification of costs, which affected the reported contribution margin.
- Cash collection timing issues were noted, with some collections shifting from the first half to the second half of the fiscal year.
- Despite strong growth, the company acknowledged that some of the growth was driven by large, one-time deals, which may not be sustainable in the long term.
- The company faces challenges in maintaining the high growth rate of 41% in new video solutions, which may not be sustainable going forward.
- There were $6 million in one-time costs in the first half, which impacted the overall financial performance.
Good morning and welcome to Catapult's conference call for the results of our first half of FY24. I have with me Bob Cruickshank, our Chief Financial Officer. This morning, Bob and I will present our half-year results, our strategy and outlook and then take any questions from the participants on the call.
Today I am pleased to outline another strong performance from Catapult. Before I get started, I'd like to point out that we continue to set the standards for data analytics and professional sports. We now work with more than 4,100 teams in over 100 countries and across 40 different sports. Our customers are at the highest level of professional sports leagues and include many of the national teams that have competed in this year, soccer, rugby, and cricket world cups. And may I take the opportunity to say good luck to those teams in the semifinal of the cricket world cup Australia, New Zealand, India, and South Africa for all customers of Catapult.
The first half of FY24 sees Catapult in an
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