CHICAGO, August 2, 2023 – SP® Plus Corporation (Nasdaq:SP), a best-in-class technology and operations management provider of mobility services for aviation, commercial, hospitality, and institutional clients throughout North America and Europe, today announced its second quarter 2023 results.Management CommentaryMarc Baumann, Chairman and Chief Executive Officer, said, “Second quarter results again demonstrated how well aligned our solutions and services are with emerging trends in market demand. The artful combination of people and technology is yielding strong returns, differentiating SP+ in the marketplace and underpinning a record pace of new business wins.“In our Commercial segment, high single-digit gross profit growth was led by increased demand for our services across a broad range of verticals, particularly health care, municipal, and large event venues. We added 55 net new locations, the ninth consecutive quarter of net location growth, and we improved our trailing twelve-month retention to 94%, the highest in recent memory. Aviation segment gross profit increased at a double-digit rate, representing both acquisition and organic growth, and benefitting from cross-selling additional services across our airport locations.“In the first half of 2023, adjusted gross profit increased by 13% and revenues excluding reimbursed expenses were up 15%. Based on our increased gross profit contribution from high margin technology services and a greater proportion of management fee contracts, we expect this close correlation of revenue and gross profit trends to continue.“Technology solutions continued to increase in the second quarter and the full-year contribution is on track to double 2022 levels, as a percentage of gross profit. Our Sphere technology solutions offer a major upgrade from the parking systems in place at many locations, often without requiring significant upfront capital investment by our clients. Of the year-to-date new locations added in our Commercial segment, 36% represented standalone Sphere technology deployments, without other SP+ services. This is a clear indication of the compelling value proposition of our technology solutions, and how these offerings are further expanding our addressable market.“Last week, we completed the acquisition of certain technology assets of Roker Inc. to enhance our existing Sphere offerings, particularly to municipal, university and healthcare clients.  This tuck-in acquisition marked the third technology-related transaction we’ve completed in the last twelve-months, demonstrating our commitment to leading the digital transformation of our industry and strengthening our position as a provider of innovative solutions dedicated to making every moment matter for a world on the go.