In my opinion one of the most exciting shares on the Australian Stock Exchange is sports analytics company Catapult Group International Ltd (ASX: CAT).

In the past 12 months Catapult has been going from strength to strength and performing well ahead of expectations. Judging by its quarterly update yesterday, this looks set to continue for the foreseeable future.

In its third quarter which ended March 31, the company delivered another new all-time record quarterly sales result with unit orders up 118% on the previous corresponding period.

Perhaps what is most impressive is that traditionally the third quarter is the company’s slowest quarter, with unit orders normally dropping quarter-over-quarter. But it wasn’t the case this year, which sets the company up perfectly for its fourth quarter which on average accounts for 36% of its total sales for the fiscal year.

Catapult also announced a number of key new clients had been added to its books. These include a league wide deal signed with US National Women’s Soccer League, a host of US college football teams, FC Porto, and the mighty Wycombe Wanderers.

The deal with fourth-tier English football team Wycombe Wanderers is quite an eye-opener in my opinion. This goes to show that there is a market for Catapult’s services beyond the elite level.

Signing lots of new clients is great, but to be successful a company needs to retain them. Thankfully, Catapult’s sticky product enables it to do this. Management has reported that its churn rate is around 1%, which I believe is a reflection on the quality of its product and management team.

It has been estimated that the sports analytics market will be worth $4.7 billion by 2021. As the company is one of the market leaders in the industry, I feel it is positioned well to capture a good slice of this market in the future.

If it is able to do this then I think the $135 million market cap that it has today, could be a distant memory in a few years time.

Since the quarterly update was released the share price has rallied strongly, taking its year-to-date share price gains to a massive 37%. But at the rate it is growing its client list and top line, I believe there is a lot more growth to come.

Being a small cap share it does come with that extra bit of risk that you won’t find in blue chip growth shares such as Blackmores Limited (ASX: BKL) and Carsales.Com Ltd (ASX: CAR). But with zero debt on its books and a sufficient cash balance to fulfil its expansion plans, I believe this is a great investment today.

Catapult is not the only growth share I believe investors should be taking a closer look at. This exciting tech share could also be about to go gangbusters in the future and is definitely worth a few moments of your time today if you get chance.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. 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.