The All Ordinaries index is having a solid session on Thursday. In morning trade, the index is up 0.4%.
Two ASX All Ords shares that are outperforming this by some distance are listed below. Here's why they are surging today:
Catapult Group International Ltd (ASX: CAT)
The Catapult share price is up 10% to a multi-year high of $2.89.
Investors have been buying the sports technology solutions company's shares following the release of its half year results.
Catapult has impressed the market with annualised contract value (ACV) growth of 20% in constant currency to a record of US$96.8 million (A$143 million). This is a big positive given that it is Catapult's leading indicator of future revenue.
The ASX All Ords share's revenue increased 19% to US$57.8 million (A$85 million) year on year and its profit margin on the incremental revenue generated reached 75% year on year. This underpinned free cash flow (FCF) of US$4.8 million (A$7 million).
Commenting on the half, CEO and Managing Director, Will Lopes, said
Catapult started FY25 exactly how we finished FY24, delivering another strong performance and growing our Annualized Contract Value, our primary metric, by another 20% year-on-year. Our Performance & Health vertical delivered another predictable and reliable performance, and we're continuing to see increased adoption of our New Video Solutions in our Tactics & Coaching vertical.
Combined, this SaaS growth engine enabled strong growth in our profit margin, accelerating us to improved levels on the Rule of 40 – an important valuation metric for SaaS companies – as we kept 75% of every new dollar we generated in Revenue.
Nufarm Ltd (ASX: NUF)
The Nufarm share price is up 11.5% to $4.08. This has been driven by the release of the crop protection and seed technology solutions company's full year results.
Nufarm delivered underlying EBITDA in the middle of its guidance range at $313 million.
The ASX All Ords share's CEO, Greg Hunt, was pleased with the result given the challenging operating environment. He said:
Despite a challenging market, Nufarm delivered a solid result for FY24. […] This is a good performance given industry conditions and demonstrates our ability to navigate a difficult environment. Our balance sheet position is strong. Our debt financing provides flexibility to meet changes in working capital, we have no near term refinancing requirements, and we have minimal financial covenants associated with our facilities.
Pleasingly, Nufarm revealed that it is seeing solid end use demand and stable active ingredient prices for crop protection products. As a result, it does not expect to see the same deflationary impact from falling active ingredient prices that it saw in FY 2024.
