Earnings1Q25 gross profit margin of 42.9% was the highest quarterly gross profit margin in BMI's history, driven by sales mix, including more remote monitoring software services revenue.
Financial PerformanceBMI reported 1Q25 results with revenue of $222.2M, up 13.2% y/y, above the $220.9M consensus.
Market StrategyThe acquisition of SmartCover is expected to increase BMI's market share of U.S. water utility spending.