Badger Meter, Inc.

Ladies and gentlemen, welcome to the fourth quarter 2022 Badger Meter earnings conference call. If you would like to ask a question during the Q&A portion of the call, please press star 1 on your telephone keypad. As a reminder, today's conference is being recorded. It is now my pleasure to turn the conference over to Karen Bauer, Vice President of Investor Relations, Corporate Strategy, and Treasurer. Please go ahead, Ms. Bauer.

Good morning, and thank you all for joining the Badger Meter fourth quarter and full year 2022 earnings conference call. On the call with me today are Ken Bockhorst, Chairman, President, and Chief Executive Officer, and Bob Rockledge, Chief Financial Officer. The earnings release and related slide presentation are available on our website. Quickly, I will cover the safe harbor, reminding you that any forward-looking statements made during this call are subject to various risks and uncertainties. the most important of which are outlined in our press release and SEC filings. On today's call, we will refer to certain non-GAAP financial metrics. Our earnings slides provide a reconciliation of the GAAP to non-GAAP financial metrics used. With that, I'll turn the call over to Ken.

Thanks, Karen, and thank you for joining our fourth quarter earnings call. The Badger Meter team finished the year with another strong performance, delivering solid revenue growth while achieving yet another positive book-to-bill ratio. Despite persistent macro challenges with sustained inflation and sporadic component shortages throughout 2022, gross profit margins have consistently been within our tightened, normalized range of 38% to 40%, and we improved SEA expense leverage during the year. We generated robust cash flow in 2022 and utilized that growth capital to acquire Syrinx in early January 2023, adding to our comprehensive hardware-enabled software offerings. I'll talk more about Cyrenix, provide a recap for the full year, and discuss our outlook later in the call. But for now, I'll turn the call over to Bob to go through the details of the quarter.