Shares in sports data analytics business Catapult Group Ltd (ASX: CAT) dropped 5.25% today, despite the group announcing it has signed a "league wide" deal with the UK's Rugby Football League organisation. The deal will see Catapult deliver 390 "elite tracking units" to the English Rugby League's teams and national teams.
Catapult declined to provide any financial details over the deal likely as it is commercially sensitive, although it's likely to represent a nice little lift to Catapult's recurring revenues.
The stock though has been on the nose throughout most of 2017 as the company's financials have failed to meet the great expectations of investors. Catapult is still a relatively early-stage technology company with a healthy balance sheet and blue-chip global client list.
The group posted operating income of $8.3 million for the quarter ending September 30 2017 in what was a strong result over its traditionally strongest quarter seasonally. Its the future that counts though and all eyes will be on Catapult's performance over the quarter ending December 31 2017.
