INTERIM RESULT H1 FY2018 22 February 2018 Presenters: Joe Powell (CEO) Mark Hall (CFO)
AGENDA 1. Results overview 2. Financial results 3. Our purpose, opportunity and strategy 2 2
RESULTS OVERVIEW Joe Powell, CEO 3
Group Revenue (A$m) Prosumer unit sales Group Net Operating Cash Flow (A$m) (# of units) 5,334 32 9.2 31% 1 28 627% 2 365% 4 KEY HIGHLIGHTS 25 1,146 1.3 Strong elite wearable growth underpinning Group result H1 FY17 H1 FY18 H1 FY17 H1 FY18 H1 FY17 H1 FY18 Pro forma XOS revenue Pro forma XOS revenue 2 604% on a pro forma basis 1 14% on a pro forma basis Elite wearable revenue Elite Wearables ARR (A$m) Elite Wearable Subscription (A$m) Base 22% 20.9 42% 15,763 34% 14.2 17.0 10.6 11,125 H1 FY17 H1 FY18 31 Dec 16 31 Dec 17 H1 FY17 H1 FY18 4 4
E X E C U T I N G O N F Y 1 8 P R I O R I T I E S 1 . G R O W 2 . L W D s & 3 . P R O S U M E R 4 . I N V E S T 5 . O R G A N I S A T I O N A L E L I T E D A T A L A U N C H I N G R O W T H E X C E L L E N C E Key hires: Elite wearable revenue League wide deals Major product Acquired AMS: Mark Hall (CFO) up 34% YoY signed with: enhancements across Integration complete • • Markus Ziemer 138 new teams signed UK’s RFL hardware and software New deals executed • • • (General Counsel & Subscription install AFLW Initial target > 3m across team and league • CoSec) base up 42% YoY to Data commercialisation customers (of 20m level Key initiatives: 15,763 units implemented across: TAM in Soccer alone) Tactical analytics Elite management 2,794 subscription NRL State of Origin On track for Q4 launch investment underway, • • realignment units sold (up 6% YoY) AFL Finals Series H1 sales continue to targeting FY19 launch • Employee leadership Low penetration (16%) NBL validate prosumer Measured investment in • • program High LTV / CAC of 7x England v Australia demand frontline sales force • 17/18 International Series 5
1 . G R O W E L I T E S T R O N G E L I T E W E A R A B L E R E V E N U E G R O W T H SUPPORTED BY ATTRACTIVE CUSTOMER ECONOMICS ELITE WEARABLES ARR (A$m) ELITE WEARABLES REVENUE (A$m) 64% CAGR 2 +34% v PcP 20.9 14.2 17.0 10.6 9.4 7.1 4.5 4.7 31 Dec 14 31 Dec 15 31 Dec 16 31 Dec 17 H1 FY15 H1 FY16 H1 FY17 H1 FY18 LTV / CAC 1 7x 6 1 Calculated as at 30 June 2017 2 Since 31 Dec 2014
1 . G R O W E L I T E C O N T I N U E D G R O W T H I N E L I T E S U B S C R I P T I O N B A S E H1 ELITE WEARABLE UNITS SOLD ELITE WEARABLE SUBSCRIPTION BASE (# of units) 15,763 H1 FY18 Churn 1 : 4,240 4.7% on a team basis 3,834 8.4% on a unit basis 3,407 34% 31% 62% 66% 69% 38% H1 FY16 H1 FY17 H1 FY18 H1 FY14 H1 FY15 H1 FY16 H1 FY17 H1 FY18 Subscription Unit Orders Capital Unit Orders 7 1 Annualised. Teams that did not renew their contracts For churn analysis, see the appendix
1 . G R O W E L I T E ELITE VIDEO P E R F O R M A N C E M E E T I N G E X P E C T A T I O N S D U R I N G K E Y D E V E L O P M E N T P H A S E XOS PRO-FORMA REVENUE (US$m) H1FY17 - FY18 Tactical 0.1 13.4 13.2 analytics Internationalisation product -0.3 -0.1 US$m 2 1 XOS H1 FY17 Coaching Content Hardware XOS H1 FY18 Revenue Solutions Licensing Revenue STAGED PLAN TO INTEGRATE, DEVELOP AND GROW ELITE VIDEO Acquisition & Integration Phase Development Phase (Current) Grow Revenue (Future) XOS acquired in Aug 2016 Development towards Roll-out to global client base • • • Integration complete internationalisation and tactical leveraging cross-sell and distributed • product continues sales force Phase expected to complete in FY19 Differentiated offering via tactical • • analytics 8 1 Demand driven in nature. YoY impact of one-off contracts, renewals 2 Transition effect of XOS changing fiscal year end to June
1 . G R O W E L I T E GLOBAL ELITE UK’s Rugby Football League League-wide DOMINANCE deal 1,638+ Fimleikafélag Hafnarfjarðar ELITE CLIENTS ACROSS Catapult’s first Kawasaki Frontale SV Werder Breman Icelandic client Current J-League (Japan) WEARABLES, VIDEO AND AMS 4-time Bundesliga (Soccer) Champions (Soccer) Champions (Soccer) LA Galaxy 138 new clients Pakhtakor Our 13 th US Gangwon FC Tashkent FK MLS client ~16% penetration Catapult’s first K League Catapult’s first (Soccer) (Korea) client (Soccer) Uzbekistani client ~9% growth in H1 FY18 (Soccer) 35 Fiji National Rugby International Cricket Union Team Council SPORTS Catapult’s first New AMS client Fijian client 61 AFLW COUNTRIES League-wide deal Argentinean Olympic Committee High Performance Dept. Countries with Catapult clients Catapult Hub Offices 9
2 . L E A G U E W I D E D E A L S A N D D A T A C O M M E R C I A L I S A T I O N 2 NEW LEAGUE- …AND 4 DATA WIDE DEALS… COMMERCIALISATIONS UK’s Rugby Football AFL Women’s League League 12/12 teams + England Live broadcast data. 5th Ashes Data for AFL Live Official App. 8/8 teams National Team Test (2017/18 Ashes Series) Round 23, 2017 AFL Premiership Season 390 units 272 units 3.5 year agreement 3 year agreement Framework to explore data commercialisation opportunities Live broadcast data. NBL Round Live broadcast data, graphics 15 (Cairns Taipans v Perth and social media. Wildcats) 2017 State of Origin, Game 1 10
3 . P R O S U M E R L A U N C H LARGE PROSUMER Our initial prosumer Expansion prosumer customer personas A D D R E S S A B L E M A R K E T target persona I D E N T I F I E D I N S O C C E R There is a large, unaddressed market for wearable devices focused on team-based sports across multiple sports and multiple geographies Elite Player League League Aspirants Managers Champs Regulars Expansion TAM 7% of Soccer 19% of Soccer 7% of Soccer 18% of Soccer American Football Players Players Players Players 1.5m prosumers Rugby ~20m 1.5m prosumers soccer AFL/Gaelic Football ~3m ~7m ~8m ~3m prosumers 0.5m prosumers players players players players (Immediate TAM) Prosumers make up ~51% of the registered Soccer playing market Sources: CAT AudienceNET survey, (2,000+ respondents); FIFA ‘Big 11 Count’ Member Survey (2006); Management estimates Numbers may not add due to rounding.
3 . P R O S U M E R L A U N C H STRONG MOMENTUM AHEAD OF PROSUMER LAUNCH H1 FY18 PLAYERTEK SALES ALREADY 1.4x FY17 SALES • We’re on track to launch our new prosumer product in Q4 FY18 37% 5,334 Brand new pod (40% smaller) and charging dock * 3,903 Brand new app with SmartCoach insights Scalable manufacturing Global 3rd party logistics Go-to-market strategy across e-commerce, inside sales and FY17 1H FY18 physical retail H1 FY18 PROSUMER SPORTS INTO WHICH SALES BY GEOGRAPHY • PLAYERTEK has proved a valuable platform to test and validate WE’VE SOLD PLAYERTEK our prosumer model. Soccer • We feel confident that Soccer is the right market to go after - APAC Rugby 18% Americas American Football 69% of team prosumer sales in the last 12 months have been to 30% AFL Soccer teams Gaelic Football EMEA Lacrosse 52% Field Hockey 12 *Pro-forma – includes PLAYERTEK sales from 1 July 2017
4 . I N V E S T I N G I N G R O W T H INVESTMENT IN ELITE PRODUCT SUITE T O D R I V E P E N E T R A T I O N A N D E X P A N D R E V E N U E S T R E A M S 4. Product suite expansion Integrated Performance Tactical Technology Stack AMS 3. Adjacent market expansion Data Commercialisation 2. Core acquisition Elite Video +Internationalisation 1. Visionary development Elite Wearables +Sports Specific Algorithms Past Present Future Developed Acquired In Development 13
4 . I N V E S T I N G I N G R O W T H AMS ACQUIRED AND INTEGRATED Seamless transition of clients and staff On On-pitch d data ta Off ff-pitch d data ta Rebrand to AMS by Catapult Established API for Catapult Cloud Medical Now available in nine languages Elite wearables Established regional sales platform Strength & conditioning Relocation of Brisbane office 34% growth in clients since acquisition Key client wins below: Wellness Elite video Team management Data Data sources sources 14
4 . I N V E S T I N G I N G R O W T H ADVANCED TACTICAL SEARCH DATA VISUALISATIONS TACTICAL Enhance video analysis with data Researching real time AR combining driven search tools ClearSky with video IN DEVELOPMENT ANALYTICS Growing our data science and Data driven telestration to help machine learning team coaches illustrate tactical analysis Integral part of the elite video • platform that we are planning to internationalise Video analysis and feedback to • players is the foundation of tactical analysis Leverages Catapult’s existing • elite video and wearable platforms to deliver deeper tactical insights which we believe will be fundamental to future video workflow Foundation to launch deeper • CORE VIDEO WORKFLOW tactical products from FY19 Building on XOS technologies TODAY Video capture, tagging and editing Distribution to athletes with coaching feedback 15
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