Filing Flows › Badger Meter (BMI) › Q2 2026 › vs Q1 2026
Badger Meter (BMI) Q2 2026 vs Q1 2026 (quarter over quarter)
Badger Meter's revenue rose $20.0M (+10%) from $202M in Q1 2026 to $222M in Q2 2026. Gross margin 40.8% against 41.7% (-0.9 pts).
Badger Meter, Q2 2026: revenue $222M (-7% year over year), operating margin 17.7%, net earnings $29.7M, operating cash flow $26.7M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 40.8% | 41.7% | -0.9 pts |
| Operating margin | 17.7% | 17.4% | +0.3 pts |
| Net margin | 13.4% | 13.5% | -0.1 pts |
| Free cash flow margin | 9.8% | 14.6% | -4.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $222M | $202M | $20.0M | +10% |
| Gross profit | $90.8M | $84.3M | $6.4M | +8% |
| Cost of revenue | $132M | $118M | $13.6M | +12% |
| Operating profit | $39.4M | $35.2M | $4.2M | +12% |
| Operating expenses | $51.4M | $49.2M | $2.2M | +5% |
| Pre-tax earnings | $39.7M | $36.3M | $3.4M | +9% |
| Net earnings | $29.7M | $27.3M | $2.4M | +9% |
| Income tax | $10.0M | $9.0M | $1.0M | +11% |
| Depreciation | $2.8M | $2.8M | $21K | +0.7% |
| Share-based compensation | $3.2M | $2.2M | $1.0M | +47% |
| Working capital & other | $9.0M | −$1.6M | $10.6M | — |
| Operating cash flow | $26.7M | $33.9M | −$7.2M | -21% |
| Free cash flow (OCF − capex) | $21.9M | $29.5M | −$7.6M | -26% |
| Capital expenditures | $4.8M | $4.4M | $412K | +9% |
Questions
How much did Badger Meter's revenue grow quarter over quarter in Q2 2026?
Badger Meter's revenue rose $20.0M (+10%) from $202M in Q1 2026 to $222M in Q2 2026. Gross margin 40.8% against 41.7% (-0.9 pts).