Badger Meter (BMI) Investor presentation summary

Business overview and strategic positioning

• Achieved $826M in 2024 sales with operations in over 50 countries and 2,200+ employees.

• Offers a comprehensive suite of digital smart water solutions, including flow measurement, water quality, pressure, and network monitoring.

• Maintains a leading position in North American smart water solutions and is expanding internationally.

• Focuses on innovation, continuous improvement, and sustainability, supported by five R&D centers.

• Recognized for a premium financial profile and operational excellence.

Product and solution portfolio

• BlueEdge framework integrates water technology, software, and services for end-to-end water management.

• Solutions span measurement, connectivity, actionable insights, and customer support.

• Portfolio addresses the full water cycle, including environmental monitoring, treatment, and property operations.

• Emphasizes customizable, scalable offerings to grow with customer needs.

• BlueEdge serves as a strategic lens for R&D and acquisition investments.

Financial performance and growth

• 2024 sales grew 18% year-over-year, with a 14% CAGR since 2019.

• SaaS revenue reached 6.7% of total sales, growing at a 28% CAGR.

• Operating margin improved to 19.1% in 2024, up 450 basis points since 2019.

• Free cash flow conversion at 114% and EPS grew 35% in 2024.

• Reduced net working capital as a percentage of sales by 620 basis points since 2019.