Filing Flows › Badger Meter (BMI) › Q3 2026 › vs Q2 2026
Badger Meter (BMI) Q3 2026 vs Q2 2026 (quarter over quarter)
Badger Meter's revenue rose $13.6M (+6%) from $222M in Q2 2026 to $236M in Q3 2026. Gross margin 41.9% against 40.8% (+1.1 pts).
Badger Meter, Q3 2026: revenue $236M (+0.1% year over year), operating margin 20.2%, net earnings $35.9M, operating cash flow $43.3M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 41.9% | 40.8% | +1.1 pts |
| Operating margin | 20.2% | 17.7% | +2.5 pts |
| Net margin | 15.2% | 13.4% | +1.8 pts |
| Free cash flow margin | 17.1% | 9.8% | +7.2 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $236M | $222M | $13.6M | +6% |
| Gross profit | $98.8M | $90.8M | $8.1M | +9% |
| Cost of revenue | $137M | $132M | $5.5M | +4% |
| Operating profit | $47.7M | $39.4M | $8.4M | +21% |
| Operating expenses | $51.1M | $51.4M | −$289K | -0.6% |
| Pre-tax earnings | $48.0M | $39.7M | $8.2M | +21% |
| Net earnings | $35.9M | $29.7M | $6.2M | +21% |
| Income tax | $12.1M | $10.0M | $2.1M | +21% |
| Depreciation | $2.6M | $2.8M | −$205K | -7% |
| Share-based compensation | $2.5M | $3.2M | −$705K | -22% |
| Working capital & other | $2.3M | −$9.0M | $11.3M | — |
| Operating cash flow | $43.3M | $26.7M | $16.6M | +62% |
| Free cash flow (OCF − capex) | $40.3M | $21.9M | $18.4M | +84% |
| Capital expenditures | $3.0M | $4.8M | −$1.8M | -38% |
Questions
How much did Badger Meter's revenue grow quarter over quarter in Q3 2026?
Badger Meter's revenue rose $13.6M (+6%) from $222M in Q2 2026 to $236M in Q3 2026. Gross margin 41.9% against 40.8% (+1.1 pts).