Home » News » Catapult Group Leverages R&D Investment to Report Strong Results During COVID Period

Catapult Group Leverages R&D Investment to Report Strong Results During COVID Period

September 7th, 2020

Catapult Group International Ltd has been one of the outstanding performers on the ASX over the past QTR, with the value of its shares having increased approximately fourfold from the depths of the COVID-19 Market Lows following the announcements of positive results and trading updates.

Media coverage of NFL Training Camps and European football resumptions over recent months has also shown many international players using the wearable technology, quite an achievement for an Australian company.

Key highlights from the company’s August results announcements were as follows:

  • An increase in subscription revenue by more than 20%;
  • $9M investment in R&D Expenditure, of which was mostly invested in the Pro-Segment Innovation;
  • Enhancements in key metrics including:
    • Opex to revenue ratio;
    • Growth in subscription revenue;
  • Several COVID-19 specific initiatives have arisen from the R&D effort, including proximity monitoring solutions;
  • The company is of the view that the underlying revenue growth rate of the company has not been impacted by COVID-19;

Catapult Group has a R&D headquarters in Melbourne, with offices internationally.

It is also worth noting that the company’s chairman Dr. Adir Shiffman has been a strong advocate of the importance of the R&D Tax Incentive to Australian business. Adir has been very vocal in his criticism of the budget amendments proposed to the R&D Tax Incentive that are currently before the Senate.

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