NYHED - 11 April 2022

The sports technology company Trackman is growing in both revenue, bottom line and staff

The annual accounts of the company Trackman, which develops radar and camera technology that can follow a golf ball's path through the air, have just been released, and the results speak for themselves. In just two years, turnover has almost doubled to DKK 1.2 billion. DKK. And the bottom line follows. Here, the result before tax grew by 89% to DKK 475 million. DKK

The growth in revenue and profit is due to continued positive development in the company's largest business area golf, driven by simulators for indoor golf and technology for driving ranges. COVID-19 increased the number of rounds of golf played by around 14% in most markets in 2021, supporting sales growth.

"It has become better than we could have hoped for in our wildest dreams. We have just crossed one billion in revenue, and we are proud to be able to present these accounts and at the same time be representatives of a growing industry," says Fredrik Tuxen, CTO of Trackman.

Almost all of the world's very best players use Trackman to better analyze and improve their game. In 2021, Trackman technology collected data of over 1 billion. golf shot. Trackman has also entered the sport of baseball and is slowly starting to play football and American football.

Mikkel Damsgaard practised for days with Trackman technology before his dream goal against England

We all remember the summer of 2021, when the men's national football team managed to unite all of Denmark in red and white. And perhaps we all especially remember the semi-final against England, where Mikkel Damsgaard ignited a nationwide bomb of euphoria when he blasted a nice free kick directly into the rush and put Denmark 1-0 up?

Coach Kasper Hjulmand and the team had borrowed Trackman equipment for the team's EC meeting, and after training his shot for days with Trackman, Mikkel Damsgaard changed his shot. Before his shot was characterized by a sidespin that curved to the left, now his shot also had a dip.

"Mikkel Damsgaard scores his fabulous free-kick goal in the EC semi-final against England because he had trained with Trackman. With feedback from Trackman, he adjusted both his ball speed and spin axis so that his kicking technique now causes the ball to dive a little more downward on its way to goal. Instead of 90 degrees to the side, his kick now goes 45 degrees downward past the wall of opponents and a chanceless goalkeeper. So even though Mikkel Damsgaard's goal is not precisely placed in the top corner, he still scores because he has adjusted his kicking technique via feedback from Trackman's technology," says Fredrik Tuxen with a smile: "Kasper Hjulmand sent us several video clips from their training, and it's pure joy to watch players adjust their kicking technique using Trackman feedback. We can't watch those clips enough times.”

Flexible, efficient framework in INCUBA and optimal location at the Department of Computer Science

Since 2019, Trackman has had a development department in INCUBA on Katrinebjerg, where today there are four employees who primarily develop tracking algorithms. The algorithms are used e.g. in large golf 'driving ranges' in Europe, Asia and the USA, where golf enthusiasts stand on several floors and practice their shots. The feedback from Trackman's tracking of each stroke is displayed on a large flat screen, so the player can continuously adjust his technique.

"We have some sharp heads in INCUBA. They have expertise in everything from computer vision, mathematical modeling and neural networks to processing raw radar data and signal processing. They are simply experts in our field," says Fredrik Tuxen and adds:

"We are actually looking to expand our department in INBUCA on Katrinebjerg, so that we can build a team with an even stronger community. Right now we are actively looking for an algorithm developer for the team, and we would also like to run exam projects with students from the nearby Department of Computer Science.”

For Trackman, the establishment of the department was both uncomplicated and problem-free thanks to INCUBA's flexible framework and facilities. "It was a great way for us to start the department, where we could graduate as we developed the team. All the facilities were there, electricity, internet, lunch arrangement, and so it was an easy way for us to move into a brand new department and with a minimal workload. We are super happy about it, so I can definitely recommend it," says Fredrik Tuxen and adds: "In addition, the location with the Department of Computer Science right across the street is absolutely brilliant, which we would like to use more of."

We are a value-based company where the future is still Danish

Trackman's growth, gazelle titles and great key figures have caused many capital funds and other investors to look hungrily at the sports technology company. But all suitors are rejected.

"We are happy with what we do and have no ambitions to sell. There is no need for outside capital, and we also believe that the company is best off with us as owners. We consider ourselves a family-owned company, and we are extremely value-based in our approach to running a business. We prioritize using Danish sub-suppliers, and it is also important for us to keep quality workplaces in Denmark," says Fredrik Tuxen and concludes: "We always act according to a long-term vision that has Trackman's and our employees' well-being in mind in the long term Lane."

So while it hasn't been short on offers, the Trackman isn't for sale. In 2022, business growth of 15-25% is expected, although with higher uncertainty than previously due to the increased geopolitical risk. Precisely in this connection, Trackman has initiated a global campaign #golfersforukraine, where leading golf organisations, companies and players donate to UNICEF to support children affected by the war in Ukraine. More than DKK 5 million has so far been collected.