---
title: Catapult Reports Strong Subscription Growth for 2020 Financial Year
description: Portfolio sports technology company Catapult Group (CAT) has released its results for the 2020 financial year, with consistent growth across the board.
---

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# [Catapult Reports Strong Subscription Growth for 2020 Financial Year](https://www.aura.co/news-and-insights/catapult-225-percent-increase)

 Written by [Tristan Terry](https://www.aura.co/news-and-insights/author/tristan-terry) | Sep 8, 2020 6:27:00 AM

[Catapult Group](https://www.catapultsports.com), a portfolio company of [Aura Ventures](https://www.aura.co/venture-capital), achieved consistent growth across the during the 2020 financial year, according to a recently released report.

## Financial Highlights

- EBITDA of $13.3 million, up 225%
- Positive free cash flow of $9.0 million, up $26.1 million
- $27.5 million cash balance at June 30 2020 ($39.8 million at 14 August 2020)
- Subscription revenue of $77.6 million, up 21%
- Revenue $100.7 million, up 6%
- 39% growth in customers with more than one Catapult solution.

The sports technology company reported a 225 per cent increase in earnings before interest, taxes, depreciation and amortisation (EBITDA) for the period, representing a $9.2 million improvement over last year's $13.3 million result. The substantial increase was driven largely by continued growth in subscription revenue in conjunction with a decline in operating expenses.

The company is committed to delivering positive free cash flow into FY21 and is pleased to achieve this goal a year earlier than planned, in spite of COVID-19. This marks five consecutive half-year periods of consistent EBITDA growth, which comes from a steady focus on the implementation of its software-as-a-service business model.

Will Lopes, CEO of Catapult Group, said the company's ability to execute in such a challenging environment is a great sign of its product strength and executive experience. "It demonstrates that the fundamentals of a strong recurring subscription business coupled with a low-churn customer base create amazing operating leverage," he added. "This operating leverage allowed us to achieve positive cash flow a year ahead of the plan under the extremely challenging and stressful circumstances presented by COVID-19.”

Will also noted a drop-off in the fourth quarter due to the temporary shutdowns of many sporting organisations but said that the long-term impacts to Catapult's underlying revenue growth are likely to be minimal. “Despite our Q4 slowdown, our staff was able to grow subscription revenue 21% from last year and deliver 26 new features to our customers. This positive cash inflection point means we are a great SaaS business that is well positioned to scale while delivering great service to our customers and value to our shareholders.”

[View full post](https://www.aura.co/news-and-insights/catapult-225-percent-increase)

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