Just a sensor stitched into a shirt? Well, not quite. Catapult provides sophisticated analysis to help understand player load with a view to preventing soft tissue injury. The technology also assists team management understand their players bio-mechanics in an objective way. The real smarts are in the algorithms that process the data and the insights to be gleaned. After establishing themselves as the clear leader in Australia, CAT is now targeting a large addressable opportunity globally. The AFL deal with Champion Data highlights the in-league risk however we believe the risk-reward equation is skewed to the upside. CAT delivered a strong quarter last week, typically a soft quarter for the group, driven by the emerging markets. Click here for our more information. (VIEW LINK)