The Catapult Group International Ltd (ASX: CAT) share price has edged 3.1% higher following the company’s announcement it has appointed a former Amazon executive as Chief Operating Officer (COO).
New COO
In this morning’s ASX release, Catapult announced the appointment of Chris Cooper to the role of COO to further enhance the company’s scale and meaningfully drive its strategic growth.
Additionally, the new COO has global leadership experience driving expansion into international markets, tailoring business models to local cultural practices, and delivering results through volatile business cycles.
Catapult CEO, Will Lopes, said “Chris brings to Catapult a wealth of operational expertise, as well as decades of experience leading international organisations across the globe…”
Chris Cooper’s recent role was Executive Vice President of International Operations and New Business Expansion at Audible, an Amazon subsidiary. Mr Cooper commented: “…Catapult’s distinctive position to take sport analytics to the next level and continue to set the bar on how elite teams and athletes around the world make data-driven decisions using the latest performance technology is what drew me to this opportunity.”
The appointment comes following the company’s lifting of cost-cutting measures from its coronavirus mitigation plan, as announced on 13 July 2020. Will Lopes said “entering the COVID-19 crisis we took preventative measures anticipating a worst-case scenario impact to our global business. I am glad such impact was less than anticipated and we are able to remove such measures earlier than expected.”
H1 FY20 results presentation
In its results presentation in February this year, Catapult announced annual recurring revenue was up 20% compared to the same period last year. Additionally, earnings before interest, tax, depreciation and amortisation (EBITDA) increased to $5.7 million which was up from a loss of $1.4 million. Free cash flow significantly increased to $13.6 million.
The Americas continues to be the growth driver for Catapult with teams there making up 45% of total teams and 70% of revenue by region.
About the Catapult share price
First listing on the ASX in 2014, Catapult Group has grown into a worldwide leader in sports technology. The company’s technology provides analytical data to sporting organisations around the world to help them assess athlete performance.
In Australia, the group provides data about players to organisations such as the Australian Football League (AFL) and National Rugby League (NRL). Other sports it works with include American football, baseball, basketball, cricket, soccer, ice hockey and rugby.
At time of writing, the Catapult share price is trading at $1.31 and has rallied 27.18% in the past year.
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Matthew Donald has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Catapult Group International Ltd. The Motley Fool Australia has recommended Catapult Group International Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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