Catapult delivers record revenue after acquisition deals

Catapult delivered record FY26 revenue of $140.7 million and annualised contract value of $133.8 million, but the full-year picture also showed the cost of expansion. Management EBITDA rose to $24.7 million and the company highlighted a record Rule of 40 score, helped by continued subscription growth and contributions from its acquisitions of Perch and IMPECT. At the same time, reported net loss widened as integration costs, acquisition-related expenses and share-based compensation weighed on the bottom line. The result is a business that is clearly getting larger and more operationally leveraged, but still in the middle of a more expensive build-out phase as it tries to create a broader performance-technology platform around video, athlete monitoring and coaching intelligence.

It sits in a part of sports tech where scale matters, because clubs and federations increasingly want fewer systems that do more rather than multiple narrow tools stitched together. Catapult is building toward that type of position, and the acquisitions suggest it believes the market is ready for a more integrated performance stack. The trade-off is visible in the numbers. Growth is strong, but profitability still has to absorb the cost of getting there. For investors, this is a familiar software story now playing out in sport: expand capability, deepen cross-sell, and trust that a more complete platform will eventually produce cleaner economics. The question is no longer whether the category is real. It is how efficiently companies can consolidate it.