Four ASX stocks seeking a competitive edge in the lucrative sports market

Several ASX companies are involved in the sports technology sector – from those working to prevent and better treat concussion to others focused on improving athletic performance.

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• Several ASX-listed companies are driving advancements in the growing sports technology sector 

• CogState is working to optimise brain health assessments for various conditions including concussion

• Control Bionics is unlocking growth in sports science with technologies capturing neural and physiological data

From the grass roots of backyards, parks and local clubs, to the high-octane action inside our many stadiums, sport is deeply ingrained in Australia's culture.

And it's big business – both in Australia and internationally. A business in which sports science has made its mark, evolving from a niche academic field into a multi-billion-dollar industry driven by advances in tech, data analytics and an ever-growing demand for peak performance.

On the ASX, several companies, including the four listed below, are involved in the growing sports technology sector – from working to prevent and better treat concussion to improving athletic performance.

CogState (ASX:CGS)

This neuroscience technology company is working to optimise brain health assessments for various conditions including alzheimer's and dazed athletes coming off the field with suspected concussion.

Cogstate’s Cognigram Digital Cognitive Assessment System, previously known as CogSport, is used by physicians to detect changes in cognitive function in patients by measuring processing speed, attention, visual learning, working memory, visual motor function and executive function.

The Cognigram system can be used to assess cognition on a single occasion or cognitive change over periodic assessments.

You may have even seen or heard of Cognigram referred to as the Cogstate concussion test, and mentioned in coverage of footy games.

Brad O'Connor told Stockhead that Cognigram is used by several leading sporting organisations in Australia and internationally including the Australian Football League (AFL) and National Rugby League (NRL).

"Whether you're measuring cognition after a traumatic brain injury or in the context of ageing, the critical aspect is being able to access scientifically valid, simple, low-cost tools, which Cogstate is committed to providing," he said.

HitIQ (ASX:HIQ)

HitIQ is also focused on concussion management technologies. The company is targeting a growing worldwide concussion management market including elite and recreational sport, clinical practitioners, military, research, and combat sports.

The company said its platform aimed to provide a total concussion ecosystem supporting identification, monitoring and management.

Its product suite uses high-end technology to span early detection, surveillance and assessment from concussion.

HitIQ’s tech is being used across a range of sports. The company has commercial agreements with the AFL, NRL and announced in November it had extended a deal with the English Premier League for 18 months.

HitIQ said its technology would remain a core part of the Premier League’s concussion management protocols, with head injury incidents securely recorded and administered through the company's centralised CSX concussion assessment technology platform.

Executive chairman Earl Eddings said the extension reinforced the trust the Premier League had in its concussion management technology.

"It is a clear acknowledgment of the positive impact our platform is having in supporting the league’s commitment to player safety," he said.

Control Bionics (ASX:CBL)

Control Bionics develops electromyography (EMG) based technology, including NeuroNode and NeuroStrip to empower individuals with severe disabilities.

But the company is also unlocking growth in other markets including health diagnostics and sports science with its technologies able to capture neural and physiological data.

In December Control Bionics announced it had acquired a 20% stake in US-based Neuro Elite Athletics, which is the company behind the NeuroBounce program for athletes.

Its partial ownership in Neuro Elite Athletics will provide Control Bionics with an exclusive licensing arrangement for the NeuroBounce program in Australia and Japan.

Control Bionics said the proprietary NeuroBounce was the only computerised EMG training program in the world, which had been proven to increase vertical leap by 5-15cm in just eight training sessions.

It has been used by US athletes for more than 25 years improving vertical jump height and explosiveness in sports such as basketball, volleyball and football.

For the NeuroBounce program, Control Bionics said its NeuroStrip technology was being leveraged to train the brain to activate previously unused muscle fibres.

Control Bionics said Neuro Elite Athletics had significant US market potential with thousands of high school, college and professional sporting teams across major leagues.

Catapult Group (ASX:CAT)

The sports technology company describes itself as "operating at the intersection of sports science and analytics" with products designed to optimise performance, avoid injury and improve return to play.

The company creates smart technology that tracks and measures an athlete’s movements in real-time, providing valuable insights into their physical condition, performance and health.

This data in turn helps coaches and teams make smarter decisions about training, tactics and recovery.

Catapult’s products include GPS tracking systems that measure things like speed, distance and effort, as well as video analysis tools that allow coaches to review key moments in games.

Catapult said it supported more than 4,400 teams across 40 sports, spanning more than 100 countries. In 2024, the company launched a sideline video product called Focus Live for American Football.

The new product followed the National Collegiate Athletics Association (NCAA ) – the governing body for US collegiate sports – approving sideline video analysis during American football games.

It also partnered with the UEFA to deliver live performance insights during Euro 2024.

At Stockhead, we tell it like it is. While Control Bionics is a Stockhead advertiser, the company did not sponsor this article.