The Catapult Group International Ltd (ASX: CAT) share price is pushing higher on Thursday after the announcement of two new product launches.
At the time of writing, the sports analytics and wearables company’s shares are up over 4% to $2.19.
What did Catapult announce?
This morning Catapult announced the launch of two new customer-facing solutions to support American football teams as they return to play amidst new COVID 19 restrictions.
These solutions provide teams with cloud-based full-resolution video analysis and a new seamless indoor-outdoor experience for American Football.
The latter cleverly allows teams to transition between global positioning system (GPS) and local positioning system (LPS) tracking in a single session. Management notes that this is revolutionary for teams that track different training groups concurrently within each environment.
The new cloud based full-resolution video analysis solution complements the company’s pro tactics and coaching product, Thunder.
This product is used by the majority of coaches and front office staff of NFL and NCAA college football teams. The new solution will allow them to utilise Thunder from home and on-the-go. This could prove valuable given the changing workflows due to the COVID 19 pandemic.
“Driving future growth.”
Catapult’s Chief Commercial Officer, Matt Bairos, believes that the deployment of three high impact solutions going into an unprecedented American football season is a great example of Catapult driving future growth and building on its industry-leading position.
He commented: “We are committed to innovating on behalf of our customers and helping them build a greater understanding of their player performance. We understand the workflow of our customers intimately and, with the challenges presented by COVID-19, we are proud of the speed with which we have been able to deliver solutions which empower athletes and teams during these unusual times.”
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Returns as of 6th October 2020
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends 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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