Badger Meter (BMI) Investor presentation summary

Business overview and strategic positioning

• Premier provider of smart water solutions with ~$900M Q1'26 TTM sales and operations in 50+ countries.

• Offers comprehensive digital water management, including flow, quality, pressure, and analytics.

• Maintains a culture of innovation, sustainability, and continuous improvement.

• Holds a leading North American market position and expanding global presence.

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

Financial performance and trends

• Q1 2026 sales were $202.3M, down 9% YoY due to project pacing and weaker short-cycle orders.

• Operating margin declined to 17.4% from 22.2% YoY; diluted EPS fell to $0.93 from $1.30.

• Free cash flow remained stable at $29.5M; no outstanding debt and over $200M in cash.

• Dividend increased for 33 consecutive years, with an 18% rise in August 2025.

• Long-term sales growth driven by smart water adoption, SaaS, and recurring revenue streams.

Innovation, R&D, and product offerings

• Invests in R&D with five global centers, focusing on ultrasonic metering, water quality, and analytics.

• BlueEdge suite tailors solutions across the water cycle, integrating hardware, software, and services.

• Leading in cellular communication with millions of endpoints deployed, offering secure, resilient data solutions.

• SaaS and analytics platforms provide actionable insights for utilities and customers.