Badger Meter Files 2024 10-K

TL;DR

Badger Meter's 2024 10-K is in. Check financials and risks for the water meter giant.

AI Summary

Badger Meter Inc. filed its 2024 10-K on February 14, 2025, reporting on its fiscal year ending December 31, 2024. The company, based in Milwaukee, WI, is a leader in totalizing fluid meters and counting devices. The filing details financial performance, business operations, and risk factors for the company.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Badger Meter's financial health and strategic direction for the fiscal year 2024, impacting investment decisions.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not indicate any immediate or unusual risks.

Key Numbers

• 1231 — Fiscal Year End (The reporting period concluded on December 31, 2024.)
• 20250214 — Filing Date (The 10-K report was officially filed on this date.)

Key Players & Entities

• BADGER METER INC (company) — Filer
• 2024-12-31 (date) — Fiscal Year End
• 2025-02-14 (date) — Filing Date
• Milwaukee, WI (location) — Company Headquarters
• 3824 (industry_code) — Standard Industrial Classification

FAQ

Key Financial Figures

• $186.35 — ck are deemed to have a market value of $186.35 per share, the closing price of the Com
• $1 — n Stock outstanding with a par value of $1 per share. DOCUMENTS INCORPORATED BY
• $19.2 million — manufacturing process improvements were $19.2 million in 2024, $19.0 million in 2023 and $15.
• $19.0 million — mprovements were $19.2 million in 2024, $19.0 million in 2023 and $15.8 million in 2022. Rese
• $15.8 million — lion in 2024, $19.0 million in 2023 and $15.8 million in 2022. Research and development activ

Filing Documents

• bmi-20241231.htm (10-K) — 2748KB
• bmi-ex21.htm (EX-21) — 45KB
• bmi-ex23.htm (EX-23) — 9KB
• bmi-ex31.htm (EX-31) — 17KB
• bmi-ex31_1.htm (EX-31.1) — 17KB
• bmi-ex32.htm (EX-32) — 11KB
• img116674734_0.jpg (GRAPHIC) — 70KB
• 0000950170-25-020889.txt ( ) — 13061KB
• bmi-ex19_insidertrading.htm (EX-19.INSIDERTRADING) — 40KB
• bmi-20241231.xsd (EX-101.SCH) — 1425KB
• bmi-20241231_htm.xml (XML) — 2911KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 16 Item 1C. Cybersecurity 16 Item 2.

Properties

Properties 17 Item 3.

Legal Proceedings

Legal Proceedings 18 Item 4. Mine Safety Disclosures 18 PART II 19 Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 19 Item 6. Reserved 21 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 8.

Financial Statements and Supplemental Data

Financial Statements and Supplemental Data 26 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 53 Item 9A.

Controls and Procedures

Controls and Procedures 53 Item 9B. Other Information 53 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 53 PART III 54 Item 10. Directors, Executive Officers and Corporate Governance 54 Item 11.

Executive Compensation

Executive Compensation 54 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 54 Item 13. Certain Relationships and Related Transactions, and Director Independence 54 Item 14. Principal Accountant Fees and Services 54 PART IV 55 Item 15. Exhibits and Financial Statement Schedules 55 Item 16 Form 10-K Summary 55 Exhibit Index 56

Signatures

Signatures 58 3 Special Note Regarding Forward Looking Statements Certain statements contained in this Annual Report on Form 10-K, 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 differ materially from those in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "think," "should," "could" and "objective" or similar expressions are intended to identify forward looking statements. All such forward looking statements are based on the Company's then current views and assumptions and involve risks and uncertainties. Some risks and uncertainties that could cause actual results to differ materially from those expressed or implied in forward looking statements include those described in Item 1A of this Annual Report on Form 10-K for the year ended December 31, 2024. 4 PAR T I

BUSINESS

ITEM 1. BUSINESS Badger Meter, Inc. (the "Company") is a leading innovator, manufacturer and marketer of products incorporating flow measurement, quality, control and other system solutions serving markets worldwide. The Company was incorporated in 1905. Throughout this 2024 Annual Report on Form 10-K, the words "we," "us" and "our" refer to the Company. Available Information The Company's internet address is http://www.badgermeter.com . The Company makes available free of charge through its website its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and amendments to those reports, on the same day they are electronically filed with, or furnished to, the Securities and Exchange Commission. The Company is not including the information contained on or available through its website as a part of, or incorporating such information by reference into, this Annual Report on Form 10-K. Market Overview, Products and Solutions With more than a century of water technology innovation, Badger Meter is a global provider of industry leading water management solutions, with nearly 95% of net sales derived from water-related applications. The Badger Meter offerings, marketed as BlueEdge, are comprised of a suite of tailorable solutions that connect water management technology, software, and support services to deliver insights enabling the proactive management of water across the water cycle. These tailorable solutions encompass measurement and control hardware, connectivity and communication, data visualization and software-delivered actionable insights as well as ongoing support and expertise essential to optimize customers' operations and contribute to the sustainable use and protection of the world's most precious resource. The Company's measurement and control hardware, instruments and sensors are primarily comprised of the following product families: meters that measure the flow of water and other fluids and are known for

View Full Filing

View this 10-K filing on SEC EDGAR