Catapult Group International Ltd (ASX: CAT) shares are on the move on Wednesday morning.
At the time of writing, the ASX 300 tech stock is up 7% to a record high of $4.60.
This follows the release of the sports technology company's full year results.
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ASX 300 tech stock jumps on results day
For the 12 months ended 31 March, Catapult reported a 19% increase in revenue in constant currency to US$116.5 million (A$185 million).
Also growing strongly was annual contract value (ACV) metric, which was up 18% year on year to US$101.2 million (A$161 million). This reflects the addition of more than US$15 million of incremental ACV, the largest in its history, together with a 96% ACV retention rate.
In Performance & Health (P&H), Catapult's SaaS vertical that includes wearables, ACV grew 18% in constant currency. This was driven by expansion both geographically and within individual sports.
In Tactics & Coaching (T&C), the vertical inclusive of Catapult's video solutions, ACV grew 18% in constant currency. This was driven by strong growth of its New Video Solutions ACV, which grew 42% year on year. It also recorded strong growth in American football, driven by its groundbreaking sideline video solution.
This helped underpin a material increase in management EBITDA to US$14.8 million (A$24 million), up by US$10.6 million or approximately 250% year on year.
Another positive from the result was its free cash flow generation. The release notes that its profit margin on incremental revenue reached 65%, a full year record, which delivered record high free cash flow of US$8.6 million (A$14 million).
Management commentary
Commenting on the results, the ASX 300 tech stock's CEO, Will Lopes, said:
Catapult delivered a strong and purposeful performance in FY25, meeting the ambitious objectives we set at the start of the year. Our Annualized Contract Value – the clearest signal of our long-term growth – rose 18% year-on-year, propelled by both of our core verticals. Performance & Health once again delivered steady, dependable results, while Tactics & Coaching achieved its fastest annual growth rate in over six years.
This dual-engine SaaS momentum, combined with disciplined cost management, enabled meaningful expansion in our profit margin – we retained 65 cents on every new dollar of revenue. This is what sustainable operating leverage looks like.
Outlook
While no guidance was provided for FY 2026, Lopes spoke positively about the year ahead.
He notes that the company expects "strong ACV growth, low churn, continued improvement in our cost margins towards our targets, and higher free cash flow – clear signs that our operating model is scaling with discipline and aligned to the Rule of 40."
Catapult's shares are now up over 200% since this time last year.
