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LunchTable Secures $2.4 Million to Transform Sports Fan Engagement

LunchTable Secures $2.4 Million to Transform Sports Fan Engagement

June 27, 2024

TMRW Sports Closes Series A Round Led by Dynasty Equity and Connect Ventures

TMRW Sports Closes Series A Round Led by Dynasty Equity and Connect Ventures

June 25, 2024

The Picklr Secures $59 Million Valuation Following Series B Funding Round

The Picklr Secures $59M Valuation Following Series B Funding Round

June 21, 2024

Myocene Secures €3M to Boost Global Market Expansion

Myocene Secures €3M to Boost Global Market Expansion

June 20, 2024

Saudi Wealth Fund in Talks to Establish New Boxing League

Saudi Wealth Fund in Talks to Establish New Boxing League

June 12, 2024

Unrivaled Women’s Basketball League Launched with Celebrity Investors

Unrivaled Women’s Basketball League Launched with Celebrity Investors

May 31, 2024

Melbourne-based Catapult Group International (ASX: CAT) has surpassed US$100 million ($152 million) in annual revenue for the first time, achieving an underlying profit of US$9.37 million in FY24. This success was driven by robust growth in free cash flow and new partnerships with soccer and baseball leagues in South America, Europe, and Asia. CEO Will Lopes described this achievement as a "historic year" for the company. Lopes highlighted the significant role of their SaaS (software as a service) solutions in driving revenue, with annualized contract value (ACV) contributing US$86.8 million, a 20% increase from the previous year. The company’s strategy led to impressive growth, with substantial profit margin improvements and adherence to the Rule of 40 – a key valuation metric for SaaS companies. Catapult retained 43% of each new dollar earned and increased free cash flow to US$4.6 million, setting a solid foundation for future expansion. Catapult has been partnering with sports teams since 2006, offering wearable technology and video analysis tools to enhance player performance and prevent injuries. Over 4,000 elite sports teams in more than 100 countries use Catapult’s technology, supported by a global workforce of 400. The company’s Performance & Health division saw a 23% increase in annualized contract revenue as more teams adopted their technology. Additionally, new agreements were secured with soccer teams in Latin America and Europe, and baseball teams in North America and the Asia-Pacific region. In March, Catapult expanded its partnership with Australia’s National Rugby League, preparing for the first indoor NRL game at Allegiant Stadium in Las Vegas. Beyond team sports, Catapult collaborates with Formula 1, Nascar, and Indycar, providing race control and analysis solutions through its RaceWatch system. Despite revenue and profit margin growth, Catapult ended FY24 with a post-tax loss of US$16.7 million, nearly halving the previous year’s US$31.5 million loss. The company used its free cash flow to repay US$4.7 million of its debt, reducing the remaining debt to US$11 million.

Catapult Sports-Tech Aiming for Revenue Over $100 Million

May 30, 2024

Galway Holdings Unveils GalwayPlus™ Sports + Entertainment Platform

Galway Holdings Unveils GalwayPlus™ Sports + Entertainment Platform

May 29, 2024

Sports Technology Market Expected to Grow to $91.017 Billion by 2029

Sports Tech Market Expected to Grow to $91 Billion by 2029

May 28, 2024

Greg Olsen's Startup Attracts $4.5 Million in Initial Funding

Greg Olsen’s Startup Attracts $4.5 Million in Initial Funding

May 13, 2024

Indiana's Sports Tech HQ Receives $4.5 Million in State Funding Boost

Indiana’s Sports Tech HQ Receives $4.5 Million in State Funding Boost

May 11, 2024

Westchester Soccer Club Welcomes Tyrod Taylor to Ownership Team

Westchester SC to Join USL League One in 2025

May 10, 2024

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