• COVID Lockdowns crushed Q4 of FY 2020 for parking management software innovator Smart Parking.
  • The company has rebounded, posting revenue and profit growth in FY 2022 and 2023.
  • Smart Parking operates in Australia, New Zealand, the UK, and Germany.

Smart Parking applies innovative technology to manage a problem that many drivers experience on a regular basis. Unfortunately, the company ranked with travel and leisure stocks being seriously affected by the COVID lockdowns and the stay-at-home conditions imposed by governments.

The company’s principal business – parking management services – uses its software-supported camera design system – ANPR (automatic plate recognition) – for monitoring parking in business and corporate car parks.

Smart Parking offers a range of additional services, including car park monitoring systems and “park and pay” technology for consumers.

Although revenues dipped slightly between FY 2020 and FY 2021, the loss of more than seven million dollars in FY 2020 was erased in FY 2021 by a net profit of $5.3 million.

Smart Parking Financial PerformanceSource: ASX


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FY 2023 results yielded record revenues and a 565% increase in net profit after tax.

Over five years, the share price is up 89.4% and 50% year over year, yet the 90-day average trading volume is 114.96 thousand shares.

Source: ASX

In contrast, Webcentral Limited (ASX: ACG), a software company with a one-hundred-million-dollar market cap, has a 90-day shares average trading volume of 688.3 thousand shares.

An analyst at Marcus Today has a BUY recommendation on SPZ, one of the highlights of FY 2023 for the company –  a 33% increase in parking sites under management, further stating the “company is poised for further growth despite potential regulatory risk.”

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