Catapult Sports
Maker of GPS vests and analytics software that track athlete performance for pro sports teams.
On the record
Checkpoint: H1 FY27 interim report, watch pro-team retention, ACV per team, and margins for Sony pressure
The call
Catapult is growing and profitable with sticky team contracts, but Sony now has the money and hardware lineup to test that stickiness directly.
Catapult Sports sells wearables and computer software that help sports teams track player performance and fitness. The company has been profitable for years and keeps most of its customers, but it is not impossible to replace because the technology is not fundamentally secret. Sony just bought STATSports, one of Catapult's main rivals, and Sony has the money and reach to offer competing products to professional teams. The question that matters most over the next few years is whether Sony takes market share away from Catapult or just competes for new customers, because that difference determines whether Catapult stays strong or slowly loses ground.
Why
01
AI pressure: None apparent. AI runs inside Catapult's own tools for coaches; no outside AI product is pulling teams away from it yet. Could AI do the core job? Unlikely.
02
Bigger players: Sony Corporation (via October 2025 STATSports acquisition). Sony now owns STATSports plus Hawk-Eye and KinaTrax, giving it cameras, optical tracking, and wearables to sell as one stack against Catapult. Could a giant copy it? Probably.
03
What protects it. 15+ years of proprietary athlete data plus league-certified hardware and multi-product workflows that make switching costly for teams.
What would change this call
Catapult's H1 FY27 report (~Nov 17, 2026) shows pro-team retention below mid-90s%. Would indicate Sony/STATSports is pulling existing customers away, not just competing for new logos.
A marquee league (NFL, EPL, MLB) switches its wearable contract from Catapult to STATSports. Would confirm Sony's Sony backed unit is displacing Catapult in flagship accounts.
Catapult's ACV-per-team growth rate decelerates below the 10% pace reported in FY26. Would show pricing or expansion power weakening under new competitive pressure.
A marquee league (NFL, EPL, MLB) switches its wearable contract from Catapult to STATSports. Would confirm Sony's Sony backed unit is displacing Catapult in flagship accounts.
Catapult's ACV-per-team growth rate decelerates below the 10% pace reported in FY26. Would show pricing or expansion power weakening under new competitive pressure.
Key numbers
- FY26 revenue US$140.7M, up 19% YoY
- Pro Team retention >96%
- Added 576 new Pro Teams in FY26
Named risks
- Sony's STATSports acquisition creates a well-funded rival with an end to end optical plus wearable stack.
- Integration risk from three acquisitions (Perch, IMPECT, SBG) closed within a 12-month window, already impacting free cash flow via collection delays.
- Statutory net losses (US$24 to 35M in FY26) persist despite revenue growth and improving adjusted EBITDA.
- Potential Philips re-entry into the US market in early 2027 adds a second well-resourced competitive threat.
- Stock volatility, down about 33% trailing 12 months as of February 2026 despite record revenue, signals investor skepticism on margins.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Sony Corporation (via STATSports) | contesting | Sony bought STATSports October 2025, building end to end optical plus wearable stack; Catapult management called it aggressive May 20, 2026 |
| STATSports | contesting | Closest direct wearable rival, now Sony-owned since October 2025, pressing Catapult on new logos |
| Philips | contesting | Analyst Moelis flagged potential Philips US re-entry in early 2027 as overhang, per July 24, 2026 note |
| Zebra Technologies | contesting | Zebra is NFL official RFID player-tracking provider, competing in adjacent tracking segment |
| KINEXON Sports | contesting | Ultra-wideband positioning rival used by NBA teams, competing in athlete tracking |
| Hudl | contesting | Video and analytics competitor overlapping Catapult's Tactics and Coaching vertical |
Questions people ask
- Is Catapult Sports profitable in 2026?
- Catapult reported management non-IFRS EBITDA of US$25M in FY26 (year ended March 31, 2026), up 67% YoY, an 18% margin, but a statutory net loss of roughly US$24 to 35M due to acquisition costs, as disclosed May 20, 2026.
- Who is Catapult Sports biggest competitor?
- STATSports is Catapult's closest wearable rival. Sony acquired STATSports in October 2025 and is bundling it with Hawk-Eye, KinaTrax, Beyond Sports and Pulselive into an end to end tracking stack, which Catapult management called aggressive post-acquisition on its May 20, 2026 earnings call.
- Could AI replace Catapult Sports?
- Unlikely for its core business. Catapult's moat is league-certified wearable hardware and 15plus years of proprietary athlete data across 5,500plus teams, not easily replicated by AI. Catapult itself uses agentic AI in customer support, reporting 97% CSAT as of November 2025.
- Is Catapult Sports a safe company to join in 2026?
- It is a growing, ASX-listed company with US$140.7M FY26 revenue (up 19% YoY) and over 900 staff across 30 countries as of mid-2026 per its own site, though a third-party tracker (Crustdata, June 2026) put headcount closer to 711, and integration risk from three recent acquisitions is a flagged concern.
- Who owns Catapult Sports?
- Catapult Sports Ltd (ASX: CAT, OTC: CAZGF) is publicly traded with no single parent. Top shareholders as of May 29, 2026 were Northcape Capital (7.26%), Mitsubishi UFJ Financial Group (6.40%) and Charlaja Pty Ltd (6.26%), with market cap around A$1.05 to 1.08 billion in July 2026.
- Is Catapult Sports losing customers to Sony or STATSports?
- As of the May 20, 2026 earnings call, Catapult had not reported client losses to STATSports; it added 576 new Pro Teams in FY26 with retention above 96%. Management did acknowledge STATSports has been aggressive competitively since Sony's October 2025 acquisition.
Timeline
- 2026-07-24Moelis flags Philips potential US re-entry in early 2027 as competitive overhang
- 2026-05-20FY26 results: US$140.7M revenue, 18% adj EBITDA margin, 576 new Pro Teams
- 2026-03-26FY26 trading update guides closing ACV to US$133 to 134M
- 2026-02-19Stock reported down about 33% trailing 12 months despite record revenue
- 2025-10-15Sony Sports CEO details rationale for STATSports acquisition
- 2025-10-13Catapult announces acquisition of IMPECT GmbH
- 2025-10-08Sony acquires GPS wearable maker STATSports
- 2025-08-12Company rebrands from Catapult Group International to Catapult Sports Ltd
- 2025-06-05Catapult acquires Perch (Catalyft Labs) for US$18M
- 2025-05-21FY25 revenue reported at US$116.5M, up 19% constant currency YoY
Revision history
26 July 2026
First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- FY26 Annual Results ASX release (2026-05-20)
- Catapult FY26 Trading Update (2026-03-26)
- Catapult delivers record revenue as operating profit jumps 67% (2026-05-20)
- CAT) Stock Price & Overview (2026-07-26)
- Catapult Sports Ltd (CAZGF) Full Year 2026 Earnings Call Highlights (2026-05-20)
- Catapult Sports Ltd Record USD141M Revenue (2026-05-21)
- Catapult Acquires Perch (2025-06-05)
- Catapult Acquires IMPECT (2025-10-13)
- In Brief: Catapult Sports, Hazer Group & ResMed (2026-07-24)
- Sony acquires GPS wearable company StatSports (2025-10-08)
- Sony Sports CEO details business rationale for StatSports acquisition (2025-10-15)
- Catapult Sports reports record revenue in FY26 (2026-02-19)