Smart Parking (SPZ) H2 2025 earnings summary

Executive summary

• Revenue increased 42% to $77.2 million, driven by organic growth and the successful Peak Parking acquisition in the U.S.

• Adjusted EBITDA rose 47% to $20.5 million, with margin expansion to 26.6%.

• Net profit after tax increased 46% to $5.4 million, and EPS grew 37% to $0.0145.

• Expanded estate to 1,938 sites globally, including 1,799 ANPR sites, up 26% year-over-year.

• Peak Parking acquisition exceeded expectations, expanding U.S. presence and contributing to record results.

Financial highlights

• Adjusted EBITDA reached $20.5 million, with margins expanding 110 basis points to 26.6%.

• Free cash flow generated was $13.3 million, up 15% year-over-year.

• Net profit after tax rose 46% to $5.4 million; basic EPS up 37% to 1.45cps.

• Cash on hand at year-end was $12.7 million after raising $45 million for the Peak acquisition.

• Debt-free as of July 2025 after repaying revolving facility.

Outlook and guidance

• Positive outlook for FY 2026 with expectations of another year of profitable growth and full-year benefit from new sites and Peak Parking acquisition.

• Targeting 3,000 ANPR sites under management by December 2028, with current site growth running ahead of plan.

• Margin expansion expected from technology implementation in North America.

• Continued focus on organic growth, new market entry, and accretive acquisitions.

• July 2026 revenue up 73% year-over-year, adjusted EBITDA up 60%.