Smart Parking Ltd
ASX:SPZ
Smart Parking Ltd
Smart Parking Ltd. engages in the provision of design, development, and management of parking technology. The company is headquartered in Melbourne, Victoria. The company went IPO on 2007-01-09. The firm's segments include Parking Management, Technology, and Research & Development. The Parking Management segment is engaged in the provision of parking management solutions, predominantly servicing the retail sector, managing agents and land owners in the United Kingdom. The Technology segment includes sale of Smart City and Internet of Things (IoT) technology, hardware and software predominantly for parking solutions around the world. The Research & Development includes costs to research, develop and improve Smart City, IoT and automatic number plate recognition (ANPR) software/hardware for both the Technology and Parking Management segments. The firm's Smart Parking mobile application is designed to help direct motorists to available parking spaces, advise of car park conditions and tariffs, and utilize contactless payment.
Smart Parking Ltd. engages in the provision of design, development, and management of parking technology. The company is headquartered in Melbourne, Victoria. The company went IPO on 2007-01-09. The firm's segments include Parking Management, Technology, and Research & Development. The Parking Management segment is engaged in the provision of parking management solutions, predominantly servicing the retail sector, managing agents and land owners in the United Kingdom. The Technology segment includes sale of Smart City and Internet of Things (IoT) technology, hardware and software predominantly for parking solutions around the world. The Research & Development includes costs to research, develop and improve Smart City, IoT and automatic number plate recognition (ANPR) software/hardware for both the Technology and Parking Management segments. The firm's Smart Parking mobile application is designed to help direct motorists to available parking spaces, advise of car park conditions and tariffs, and utilize contactless payment.
Strong Q3 Revenue: Revenue reached $34 million in constant currency, up 29% versus the previous corresponding period.
EBITDA Growth: Adjusted EBITDA (excluding Germany investment costs) was $8.9 million, up 42%, with margin rising to 26.2%.
Site Expansion: Total ANPR sites grew 24% to 1,043, with notable growth in both the UK and new territories such as APAC and Germany.
APAC Outperformance: APAC revenue grew 286%, and site count in the region more than doubled from 47 to over 100 since June 2022.
German Market Progress: New contract wins with major retailers and fast food chains in Germany; expect profitability there between 50–70 sites.
Positive Q4 Outlook: Q4 is expected to be seasonally strong, with momentum continuing and further growth anticipated in all regions.
Solid Balance Sheet: Over $10 million in net cash supports ongoing growth and acquisition strategy.
Regulatory Engagement: Company is actively addressing regulatory issues in Queensland, with engagement ongoing to establish a code of practice.
