Slide 1: Second Quarter 2022 Earnings
BADGER METER SECOND QUARTER 2022 EARNINGS July 20, 2022 © 2022 Badger Meter, Inc. 1
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS Certain statements contained in this presentation as well as other information provided from time to time by Badger Meter, Inc. (the “company”) or its employees, may contain forward-looking statements that involve risks and uncertainties that could cause actual results to
Slide 3: Highlights
HIGHLIGHTS Y-O-Y Sales Growth Trend (ex acquisitions in Q4 2021) • Strong order pace/momentum continued; record backlog 13.4% 12.4% 12.2% exiting the quarter • Record sales in second quarter of $137.8 million, up 12% year- over-year (nearly 14% ex currency) • Utility water sales increased 14% - thir
Slide 4: Second Quarter Financial Snapshot
SECOND QUARTER FINANCIAL SNAPSHOT (US$ in millions, except per share data) • Utility water sales increased 14%, growth Q2 2022 Q2 2021 Change most notable in ultrasonic meters, cellular Sales $137.8 $122.9 12.2% endpoints and BEACON SaaS • Flow instrumentation sales up 4% with FX Gross Margin 54.8 5
Slide 5: Water Quality Monitoring – Applications Across the Eco-System
WATER QUALITY MONITORING – APPLICATIONS ACROSS THE ECO-SYSTEM Water Production Water Delivery Water Consumption | Conservation Wastewater Recycling Source Water Acquire Purify | Treat Move Monitor Control Industry Irrigation Commercial Residential Collect Treat Return Source Water Monitoring For Chl
Slide 6: Outlook / Macro-Trends
OUTLOOK / MACRO-TRENDS • Resilient and recession-resistant industry fundamentals – 85% replacement driven, long-duration AMI project runway (no precedent for cancellations) and recurring SaaS revenue • Strong execution throughout dynamic macro challenges; successfully navigating inflation, component
Slide 7: Q&A
Q&A Note: For your planning purposes, our Q3 2022 earnings release/call is tentatively scheduled for October 19, 2022 © 2022 Badger Meter, Inc. 7
Slide 8: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS EBITDA Free Cash Flow (US$ in millions) (US$ in millions) Q2 2022 Q2 2021 YTD 2022 YTD 2021 Q2 2022 Q2 2021 Net Earnings (GAAP) $16.7 $14.0 $31.0 $27.8 Cash from Ops (GAAP) $19.7 $14.5 Interest expense 0.0 0.0 0.0 0.0 Capital Expenditures (1.6) (2.6) Income tax provi