Badger Meter, Inc. (BMI) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.021 Ladies and gentlemen, thank you for joining us and welcome to the BMI Q4 and full year 00:00:05.021 -- 00:00:10.110 2025 earnings call. After today's prepared remarks, we will host a question 00:00:10.110 -- 00:00:15.100 and answer session. If you would like to ask a question, please press star one to raise 00:00:15.100 -- 00:00:20.290 your hand. I will now hand the conference over to Barbara Noverini, head of investor 00:00:20.290 -- 00:00:24.714 relations. Barbara, please go ahead. 00:00:25.360 -- 00:00:30.387 Thank you for joining the Badger Meter fourth quarter and full year 2025 earnings 00:00:30.387 -- 00:00:35.454 conference call. I'm here today with Ken Bockhorst, our chairman, president, and 00:00:35.454 -- 00:00:40.561 chief executive officer, Bob Rockledge, our new executive vice president of North 00:00:40.561 -- 00:00:45.708 America Municipal Utility, and Dan Waldstein, our recently appointed chief financial 00:00:45.708 -- 00:00:47.197 officer. 00:00:47.197 -- 00:00:51.726 This morning, we made the earnings release and related slide presentation available on 00:00:51.726 -- 00:00:54.969 our website at investors.badgermeter.com. 00:00:55.874 -- 00:01:01.105 As a reminder, any forward-looking statements made on this call are subject to various 00:01:01.105 -- 00:01:05.514 risks and uncertainties, the most important of which are outlined in our news release 00:01:05.514 -- 00:01:10.921 and SEC filings. On today's call, we will refer to certain non-GAAP financial 00:01:10.921 -- 00:01:16.487 metrics, including certain base metrics. Use of the term base for these purposes 00:01:16.487 -- 00:01:21.592 is intended to refer to certain financial metrics excluding the smart cover acquisition. 00:01:21.592 -- 00:01:26.918 Our ea...