Badger Meter

Badger Meter helps cities and companies track how much water they use. Its tools find leaks and measure water quality to prevent waste. These solutions help utilities and factories manage their water systems more efficiently.

The Product Lineup

• Utility Water: Water meters, radio hardware, and software services for municipal water providers; accounted for roughly 89% of net sales in 2025.
• Flow Instrumentation: Meters, valves, and sensing tools used by industrial customers to control fluids like air, steam, and oil.
• Smart Software: Cloud-hosted analytics like BEACON that let customers view usage data and receive leak alerts on their devices.
• Water Quality Monitoring: Optical and electrochemical sensors that measure parameters such as chlorine, pH levels, and turbidity in real-time.

Recent Strategic Moves

• Acquired Hadronex, Inc (operating as SmartCover Systems) in January 2025 to add sewer and lift station monitoring technology.
• Signed a purchase agreement in April 2026 to acquire UDlive Ltd, a UK-based provider of software for monitoring sewer lines.
• Expanded the share repurchase program in February 2026 to include an additional $75 million of common stock.

What Makes the Company Different

The company provides a complete suite of hardware and software that eliminates the need for utilities to build their own communication networks. Its long history in mechanical meters has evolved into digital ultrasonic technology that maintains accuracy for longer periods without moving parts.

Financial Performance

• Net sales reached $202.3 million in Q1 2026, down 9% from $222.2 million in Q1 2025.
• Operating income was $35.2 million in Q1 2026, a 28.8% decrease from the $49.4 million reported in Q1 2025.
• Operating cash flow grew to $33.9 million in Q1 2026, up 2.6% year-over-year.
• Net income hit $27.3 million in Q1 2026, down 28.8% from $38.4 million in the previous year.

Bottom Line

Badger Meter has transitioned from a traditional hardware manufacturer into a digital technology provider for the water industry. Its focus on integrated software and remote sensing allows it to address global challenges like aging infrastructure and water conservation.