Catapult Sports

CAT.AX

Hardware, Equipment & Parts · Technology

Price

A$3.55

-0.18 (-4.83%)

Market Cap

A$1.11B

Exchange

Australian Securities Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Mixed

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+24.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 216.3M (2022) → 269.5M (2026)

Winston Score History

The full picture

Catapult Sports makes wearable tracking devices and software for professional sports teams. Athletes wear small GPS sensors during training and games, and coaches use the data to monitor performance, manage workload, and reduce injury risk. The company serves teams across the NFL, NBA, AFL, soccer, and rugby, among other sports, and is one of the most widely used athlete-tracking platforms in elite sport globally.

Catapult earns revenue through a mix of hardware sales and recurring software subscriptions, with subscriptions becoming a larger share of the business over time. It operates across North America, Europe, and Australia, and its competitive position comes from deep integration with professional teams and the large dataset it has built over many years. The main challenge the business faces is reaching consistent profitability, as its operating margin remains negative and it must balance continued investment in product development against the need to convert its growing subscription base into sustainable earnings.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+153.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

<−1,000% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

16.9%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$54M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Catapult Sports grew revenue 154% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

-7.8%

Thin — -7.8% gross margin

Profit after running costs

Operating Margin

-20.8%

Losing money on operations — -20.8%

Return on the money invested

ROCE

-10.6%

Weak — -10.6% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+84.3%

Fast-growing sales (+84.3% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

20.8%

Converts sales into free cash efficiently (20.8%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.01

Conservative — low debt load (0.01)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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