StatSports Accounts for Dec-18 came through, Catapult's largest...

StatSports Accounts for Dec-18 came through, Catapult's largest competitor. Link here
Note they still report under "small companies" accounting reporting framework. Which applies when 2 or more of following are met:

• turnover: not more than £10.2m (previously £6.5m);
• balance sheet total: not more than £5.1m (previously £3.26m);
• and average number of employees: not more than 50 (no change).

Looking at the financial statement (they are not required to release an income statement), they disclose on average 70 employees and assets on balance sheet is still sub GBP5.1m. Therefore, their turnover must still be sub GBP10.1m. Not sure what is going on with their pricing/revenue or talk about growing staff to 240 (link).

Interesting takeouts: Inventory has ramped up ~GBP1m. This could mean lower than expected sales or production timing mismatch. Cash holdings very low, only about GBP100k. Equity has risen by about GBP240k - increase in P&L reserves (i.e. net income) however note no corp tax was paid (previous year it was 204k, meaning disproportional increase in tax deductible expenses or lower sales).

Creditors were due GBP3.92m. That's mostly comprised of bank (700k), Acc. Payable (1m) and "other creditors" (2.1m). The 2.1m isn't disclosed what it is. But think that could be related to why they had to sell part of the business in April to Premier League stars Alex Oxlade-Chamberlain and Raheem Sterling (link) to fund that obligation.

Overall - think Catapult's largest competitor is still very reliant on generosity from their capital providers and shareholders. Note, I do think 2-3 big players can be in the elite sport tracking industry, however Catapult's current dominance is clearly prevalent and offers less risk.