Shares in sports analytics business Catapult Group International Ltd (ASX: CAT) dropped around 7% to $2.23 this morning after the company revealed an interim net loss around $2.6 million.

It’s not all bad news for Catapult fans though with the stock still up around 270% over the last year as it continues to post strong revenue growth and a record half-year result of 3,407 unit sales, up by 48% on the prior corresponding half.

The group says it is on track to deliver financial year 2016 guidance of a minimum of 8,000 new unit sales and total contract value of $24.5 million.

Catapult sells professional sports teams wearable sports analytics equipment that athletes can wear in training sessions, or even during competitive matches to help monitor their fitness, performance, or risk of injury for example.

The sports bra-like vests the users wear can provide real time data that helps coaches hopefully improve performance at the elite level of professional sport, where small competitive advantages are highly prized in the fast-growing area of sports science.

The company has an A-Z list of famous sports teams as clients from the likes of the Wallabies to Cricket Australia or the New York Knicks in many fields of professional sport.

In world soccer it also has a huge variety of professional clubs from Real Madrid to Chelsea and Millwall, although judging by Millwall’s recent 2-0 defeat at home to Scunthorpe Utd, Catapult’s technology offers no guarantee of high performance.

There appears to be no doubt that the company has a long and formidable client list of globally famous sports teams, although total contract value in the most recent half was just $14 million, which suggests its equipment does not retail for premium prices as yet.

The good news is that management estimates that more than 90% of the addressable market does not have a sports analytics solution such as Catapult offers and it presumably has plenty of leverage to lift prices as its technology becomes further integrated into the daily operations of its sports team clients.

Is it a future champion?

Catapult continues to remain one of the most exciting small-cap stocks on the ASX and if the company is able to swing to profit some time in the not-too-distant future its shares are likely to receive continued support from its ASX fans.

However, anyone looking to jump on board this bandwagon must remain cognisant that this company is priced for strong future growth and any disappointments may see the shares come under heavy selling pressure.

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Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.