Badger Meter, Inc. · NYSE:BMI
Badger Meter — Q2 2025 Earnings Presentation
9 slides from Badger Meter's earnings presentation, Jul 22, 2025
Slide 1: Second Quarter 2025 Financial Results
Badger Meter Second Quarter 2025 Financial Results July 22, 2025 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: Second Quarter 2025 Results Deliver Strong Sales Growth, Profitability and Free Cash Flow
Second Quarter 2025 Results Deliver Strong Sales Growth, Profitability and Free Cash Flow Against Peak Prior Year Comparable Consolidated Y-O-Y Sales Growth Trend 23% • Sales of $238M reflect 10% growth (5% ex SmartCover) against 12% 13% 13% quarterly sales high-water mark in prior-year period 10% •
Slide 4: Second Quarter Financial Snapshot Highlights Strong Cash Generation
Second Quarter Financial Snapshot Highlights Strong Cash Generation (US$ in millions, except per share data) Q2 2025 Q2 2024 Change • Utility water sales increased 11% (6% ex SmartCover), driven by ongoing adoption of digital smart water solutions Sales $238.1 $216.7 9.9% including meters, BEACON ®
Slide 5: Meaningful Momentum in BlueEdge Concept One Year Post-Launch
Meaningful Momentum in BlueEdge Concept One Year Post-Launch; Recent ACE25 Tradeshow Displayed Breadth & Depth of Offering • Booth at ACE25 highlighted various use cases for BlueEdge, featuring SmartCover for the first time • Showcased new Field App that allows utility field personnel to access BEAC
Slide 6: 2024 Sustainability Report Highlights Power of Continuous Improvement Mindset
2024 Sustainability Report Highlights Power of Continuous Improvement Mindset Across the Organization • Exceeded and raised our own targets for greenhouse gas intensity reduction while also delivering record 2024 financial results • Set a new goal to reduce future GHG intensity by 30% using 2024 as
Slide 7: Outlook Continues to Support Long-Term Shareholder Value Creation
Outlook Continues to Support Long-Term Shareholder Value Creation with Favorable Demand and Industry Dynamics • Innovation leader with • Durable macro trends • Strong cash flow and • Differentiated • Strong engagement expanding technology- support long-term borrowing capacity performance despite • V
Slide 8: Questions
Questions For your planning purposes, Badger Meter Q3 2025 earnings are tentatively scheduled for October 21, 2025 8
Slide 9: GAAP To Non-GAAP Reconciliations
GAAP To Non-GAAP Reconciliations (US$ in millions) EBITDA (US$ in millions) Free Cash Flow Q2 2025 Q2 2024 YTD 2025 YTD 2024 Q2 2025 Q2 2024 Net Earnings (GAAP) $34.6 $33.1 $73.0 $62.2 Cash from Ops (GAAP) $44.6 $36.4 Interest income (0.9) (1.9) (2.2) (3.4) Capital Expenditures (3.9) (2.3) Income ta