Badger Meter(NYSE) BMI

Badger Meter makes tools that help cities and companies track how much water they use. These devices find leaks and measure water quality to prevent waste. The company also provides software that shows this data on digital dashboards.

Measuring Every Drop

• Utility Water: Water meters, radio tools, and software used by city water departments to bill customers; accounts for approximately 89% of net sales in 2025.
• Flow Instrumentation: Meters, valves, and sensors that measure the movement of liquids and gases in industrial buildings; represents approximately 11% of net sales in 2025.
• Software and Analytics: Cloud-hosted tools like BEACON that use Software as a Service (SaaS), a subscription-based software model, to provide leak alerts.
• Water Quality Monitoring: Sensors that check for chemicals and dirt in the water supply to ensure safety and regulatory compliance.

Growing the Digital Network

• Acquired UDlive Limited on May 1, 2026, to add hardware and software for monitoring sewer lines.
• Purchased Hadronex, known as SmartCover, on Jan. 30, 2025, to expand its sewer monitoring capabilities.
• Expanded the BlueEdge suite of digital solutions into international markets like the Middle East and the United Kingdom.
• Invested in ultrasonic meter technology to provide long-term measurement accuracy for utilities by using sound waves to measure flow.

Connecting the Water Cycle

Badger Meter uses cellular networks from providers like AT&T and Verizon to send water data without needing expensive local towers. This strategy helps utilities transition to Advanced Metering Infrastructure (AMI), which provides more frequent data than manual reading.

Reviewing the Latest Results

• Net sales reached $222.3 million for the three months ended June 30, 2026, down 6.6% year over year.
• Net earnings were $29.7 million for the three months ended June 30, 2026, compared to $34.6 million in 2025.
• Cash and cash equivalents totaled $95.7 million as of June 30, 2026, down from $226.0 million at year-end 2025.
• Operating earnings were $74.5 million for the six months ended June 30, 2026, down from $94.3 million in 2025.
• The company maintained a market capitalization of $4.3 billion as of the quarter ended June 30, 2026.

Modernizing Global Water Management

Badger Meter has evolved from a traditional meter manufacturer into a provider of digital water management technology. Its mix of hardware and software helps utilities and industrial clients address aging infrastructure and conservation requirements.