Badger Meter (BMI) Investor presentation summary

Business overview and market position

• Premier provider of smart water solutions with $782M in trailing twelve-month sales and operations in over 50 countries.

• Offers a comprehensive suite of digital water management products, including flow measurement, water quality, pressure, and network monitoring with integrated software and analytics.

• Recognized as an industry leader in North America and expanding globally, supported by a culture of innovation and sustainability.

• Maintains a premium financial profile and strong operational track record.

Product and solution portfolio

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

• Portfolio addresses customer challenges such as population growth, aging infrastructure, and water scarcity, offering measurement, connectivity, analytics, and support.

• Solutions include AMI/Network as a Service, SaaS platforms, and advanced monitoring devices.

• Customer feedback on BlueEdge has been highly positive, guiding R&D and acquisition strategies.

Financial performance and trends

• Q2 2024 sales reached $216.7M, up 23% year-over-year, with gross margin at 39.4% and EPS up 47%.

• Utility water sales grew 26%, driven by strong AMI demand and backlog conversion; flow instrumentation sales rose 5%.

• Free cash flow increased 70% to $34.1M, reflecting improved earnings and working capital management.

• Five-year sales CAGR of 13%, SaaS revenue CAGR of 28%, and 49% EPS growth since 2019.