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BENCHMARK REPORTS SECOND QUARTER 2024 RESULTS

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2 years ago

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TEMPE, Ariz., July 30, 2024 /PRNewswire/ — Benchmark Electronics, Inc. (NYSE: BHE) today announced financial results for the second quarter ended June 30, 2024. Additionally, the company’s Board of Directors have authorized an increase in the quarterly dividend from $0.165 to $0.17 per share, effective immediately.

Second quarter 2024 results(1):

Revenue of $666 millionGenerated net cash provided by operations of $56 million and positive free cash flow of $47 millionGAAP and non-GAAP gross margin of 10.2%GAAP and non-GAAP operating margin of 4.1% and 5.1%, respectivelyGAAP and non-GAAP earnings per share of $0.43 and $0.57, respectively

Three Months Ended

June 30,

March 31,

June 30,

(Amounts in millions, except per share data)

2024

2024

2023

Sales

$

666

$

676

$

733

Net income

$

16

$

14

$

14

Income from operations

$

27

$

26

$

24

Net income – non-GAAP(1)

$

21

$

20

$

20

Income from operations – non-GAAP(1)

$

34

$

33

$

33

Diluted earnings per share

$

0.43

$

0.38

$

0.39

Diluted earnings per share – non-GAAP(1)

$

0.57

$

0.55

$

0.56

Operating margin

4.1

%

3.8

%

3.3

%

Operating margin – non-GAAP(1)

5.1

%

4.9

%

4.5

%

(1)

A reconciliation of non-GAAP results to the most directly comparable GAAP measures and a discussion of why management believes these non-GAAP results are useful are included below.

“Once again Benchmark delivered solid results, demonstrating consistent progress toward achieving our longer-term operational objectives,” said Jeff Benck, Benchmark’s President and CEO.

Benck continued, “While market uncertainty persists across a number of our sectors, we remain focused on executing for our customers while protecting margins, driving down inventories and delivering positive free cash flow, which we now expect to exceed $120 million in fiscal year 2024.”

Cash Conversion Cycle

June 30,

March 31,

June 30,

2024

2024

2023

Accounts receivable days

51

56

59

Contract asset days

25

24

23

Inventory days

90

94

102

Accounts payable days

(52)

(52)

(56)

Advance payments from customers days

(24)

(28)

(25)

Cash conversion cycle days

90

94

103

Second Quarter 2024 Industry Sector Update

Revenue and percentage of sales by industry sector were as follows.

June 30,

March 31,

June 30,

(In millions)

2024

2024

2023

Semi-Cap

$

172

26

%

$

166

25

%

$

164

22

%

Complex Industrials

142

21

%

141

21

%

167

23

%

Medical

111

17

%

115

17

%

145

20

%

A&D

109

16

%

106

16

%

80

11

%

AC&C

132

20

%

148

21

%

177

24

%

Total

$

666

100

%

$

676

100

%

$

733

100

%

Revenue decreased quarter over quarter primarily due to decreases in Medical and Advanced Computing and Communications (AC&C) sales, which were partially offset by an increase in Semi-Cap sales.  Revenue decreased year-over-year primarily due to decreases in Complex Industrials, Medical, and AC&C sales, which were partially offset by increases in Semi-Cap and A&D sales.

Third Quarter 2024 Guidance

Revenue between $630 million – $670 millionDiluted GAAP earnings per share between $0.36 – $0.42Diluted non-GAAP earnings per share between $0.52 – $0.58Non-GAAP earnings per share guidance excludes stock-based compensation expense, restructuring charges and other costs, and amortization of intangible assets.

In the third quarter of 2024, restructuring charges are expected to be approximately $1.0 million, stock-based compensation expense is expected to be $4.5 million and the amortization of intangible assets is expected to be $1.2 million.

Second Quarter 2024 Earnings Conference Call

The Company will host a conference call to discuss the results today at 5:00 p.m. Eastern Time. The live webcast of the call and accompanying reference materials will be accessible by logging on to the Company’s website at www.bench.com. A replay of the broadcast will also be available on the Company’s website.

About Benchmark Electronics, Inc.

Benchmark provides comprehensive solutions across the entire product life cycle by leading through its innovative technology and engineering design services, leveraging its optimized global supply chain and delivering world-class manufacturing services in the following industries: semiconductor capital equipment, complex industrials, medical, commercial aerospace, defense, and advanced computing and communications. Benchmark’s global operations include facilities in seven countries and its common shares trade on the New York Stock Exchange under the symbol BHE.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts and may include words such as “anticipate,” “believe,” “intend,” “plan,” “project,” “forecast,” “strategy,” “position,” “continue,” “estimate,” “expect,” “may,” “will,” “could,” “predict,” and similar expressions of the negative or other variations thereof. In particular, statements, express or implied, concerning the Company’s outlook and guidance for third quarter and fiscal year 2024 results, future operating results or margins, the ability to generate sales and income or cash flow, expected revenue mix, the Company’s business strategy and strategic initiatives, the Company’s repurchases of shares of its common stock, the Company’s expectations regarding restructuring charges, stock-based compensation expense and amortization of intangibles, and the Company’s intentions concerning the payment of dividends, among others, are forward-looking statements. Although the Company believes these statements are based on and derived from reasonable assumptions, they involve risks, uncertainties and assumptions that are beyond the Company’s ability to control or predict, relating to operations, markets and the business environment generally, including those discussed under Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in any of the Company’s subsequent reports filed with the Securities and Exchange Commission. Events relating to the possibility of customer demand fluctuations, supply chain constraints, continuing inflationary pressures, the effects of foreign currency fluctuations and high interest rates, geopolitical uncertainties including continuing hostilities and tensions, trade restrictions and sanctions, or the ability to utilize the Company’s manufacturing facilities at sufficient levels to cover its fixed operating costs, may have resulting impacts on the Company’s business, financial condition, results of operations, and the Company’s ability (or inability) to execute on its plans. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes, including the future results of the Company’s operations, may vary materially from those indicated. Undue reliance should not be placed on any forward-looking statements. Forward-looking statements are not guarantees of performance. All forward-looking statements included in this document are based upon information available to the Company as of the date of this document, and the Company assumes no obligation to update.

Non-GAAP Financial Measures

Management discloses certain non‐GAAP information to provide investors with additional information to analyze the Company’s performance and underlying trends. These non-GAAP financial measures exclude restructuring charges, stock-based compensation expense, amortization of intangible assets acquired in business combinations, certain legal and other settlement losses (gains), customer insolvency losses (recoveries), asset impairments, other significant non-recurring costs and the related tax impacts of all of the above. A detailed reconciliation between GAAP results and results excluding certain items (“non-GAAP”) is included in the following tables attached to this document. In situations where a non-GAAP reconciliation has not been provided, the Company was unable to provide such a reconciliation without unreasonable effort due to the uncertainty and inherent difficulty predicting the occurrence, the financial impact and the periods in which the non-GAAP adjustments may be recognized. Management uses non‐GAAP measures that exclude certain items in order to better assess operating performance and help investors compare results with our previous guidance. This document also references “free cash flow”, a non-GAAP measure, which the Company defines as cash flow from operations less additions to property, plant and equipment and purchased software. The Company’s non‐GAAP information is not necessarily comparable to the non‐GAAP information used by other companies. Non‐GAAP information should not be viewed as a substitute for, or superior to, net income or other data prepared in accordance with GAAP as a measure of the Company’s profitability or liquidity. Readers should consider the types of events and transactions for which adjustments have been made.

Benchmark Electronics, Inc. and Subsidiaries

Condensed Consolidated Statements of Income

(Amounts in Thousands, Except Per Share Data)

(UNAUDITED)

Three Months Ended

Six Months Ended

June 30,

June 30,

2024

2023

2024

2023

Sales

$

665,896

$

733,232

$

1,341,471

$

1,427,927

Cost of sales

597,946

666,201

1,206,113

1,296,938

Gross profit

67,950

67,031

135,358

130,989

Selling, general and administrative expenses

38,022

37,672

75,354

75,870

Amortization of intangible assets

1,204

1,591

2,408

3,183

Restructuring charges and other costs

1,471

3,287

4,814

4,713

Income from operations

27,253

24,481

52,782

47,223

Interest expense

(6,933)

(8,258)

(14,178)

(14,708)

Interest income

2,526

1,622

4,518

2,880

Other (expense) income, net

(2,323)

61

(3,500)

(2,104)

Income before income taxes

20,523

17,906

39,622

33,291

Income tax expense

4,995

3,915

10,092

6,940

Net income

$

15,528

$

13,991

$

29,530

$

26,351

Earnings per share:

Basic

$

0.43

$

0.39

$

0.82

$

0.74

Diluted

$

0.43

$

0.39

$

0.81

$

0.74

Weighted-average number of shares used in
   calculating earnings per share:

 Basic

36,047

35,618

35,929

35,478

 Diluted

36,497

35,676

36,388

35,730

 

Benchmark Electronics, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(In Thousands)

(UNAUDITED)

June 30,

December 31,

2024

2023

Assets

Current assets:

Cash and cash equivalents

$

309,287

$

277,391

Restricted cash

578

5,822

Accounts receivable, net

376,568

449,404

Contract assets

182,090

174,979

Inventories

599,842

683,801

Prepaid expenses and other current assets

42,286

44,350

Total current assets

1,510,651

1,635,747

Property, plant and equipment, net

225,888

227,698

Operating lease right-of-use assets

125,082

130,830

Goodwill and other long-term assets

293,118

280,480

Total assets

$

2,154,739

$

2,274,755

Liabilities and Shareholders’ Equity

Current liabilities:

Current installments of long-term debt

$

5,928

$

4,283

Accounts payable

346,153

367,480

Advance payments from customers

157,156

204,883

Accrued liabilities

133,823

136,901

Total current liabilities

643,060

713,547

Long-term debt, net of current installments

283,559

326,674

Operating lease liabilities

116,637

123,385

Other long-term liabilities

16,379

32,064

Total liabilities

1,059,635

1,195,670

Shareholders’ equity

1,095,104

1,079,085

Total liabilities and shareholders’ equity

$

2,154,739

$

2,274,755

 

Benchmark Electronics, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(In Thousands)

(UNAUDITED)

Six Months Ended

June 30,

2024

2023

Cash flows from operating activities:

Net income

$

29,530

$

26,351

Depreciation and amortization

23,026

22,549

Stock-based compensation expense

6,361

8,657

Accounts receivable

71,346

6,359

Contract assets

(7,111)

(2,264)

Inventories

82,717

(28,096)

Accounts payable

(25,550)

9,499

Advance payments from customers

(47,727)

(12,260)

Other changes in working capital and other, net

(28,318)

(31,163)

Net cash provided by (used in) operating activities

104,274

(368)

Cash flows from investing activities:

Additions to property, plant and equipment and software

(14,407)

(47,049)

Other investing activities, net

(1,405)

585

Net cash used in investing activities

(15,812)

(46,464)

Cash flows from financing activities:

Net debt activity

(41,731)

102,237

Other financing activities, net

(17,161)

(17,296)

Net cash (used in) provided by financing activities

(58,892)

84,941

Effect of exchange rate changes

(2,918)

(209)

Net increase in cash and cash equivalents and restricted cash

26,652

37,900

Cash and cash equivalents and restricted cash at beginning of year

283,213

207,430

Cash and cash equivalents and restricted cash at end of period

$

309,865

$

245,330

 

Benchmark Electronics, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Financial Results

(Amounts in Thousands, Except Per Share Data)

(UNAUDITED)

Three Months Ended

Six Months Ended

June 30,

March 31,

June 30,

June 30,

June 30,

2024

2024

2023

2024

2023

Income from operations (GAAP)

$

27,253

$

25,529

$

24,481

$

52,782

$

47,223

Restructuring charges and other costs

1,471

3,343

2,364

4,814

3,790

Stock-based compensation expense

4,185

2,176

3,867

6,361

8,657

Amortization of intangible assets

1,204

1,204

1,591

2,408

3,183

Asset impairment

—

—

923

—

923

Legal and other settlement loss (gain)

317

855

—

1,172

—

Customer insolvency (recovery)

(316)

—

—

(316)

—

Non-GAAP income from operations

$

34,114

$

33,107

$

33,226

$

67,221

$

63,776

GAAP operating margin

4.1

%

3.8

%

3.3

%

3.9

%

3.3

%

Non-GAAP operating margin

5.1

%

4.9

%

4.5

%

5.0

%

4.5

%

Gross profit (GAAP)

$

67,950

$

67,408

$

67,031

$

135,358

$

130,989

Stock-based compensation expense

326

426

423

752

819

Customer insolvency (recovery)

(316)

—

—

(316)

—

Non-GAAP gross profit

$

67,960

$

67,834

$

67,454

$

135,794

$

131,808

GAAP gross margin

10.2

%

10.0

%

9.1

%

10.1

%

9.2

%

Non-GAAP gross margin

10.2

%

10.0

%

9.2

%

10.1

%

9.2

%

Selling, general and administrative expenses

$

38,022

$

37,332

$

37,672

$

75,354

$

75,870

Stock-based compensation expense

(3,858)

(1,750)

(3,444)

(5,608)

(7,838)

Legal and other settlement (loss) gain

(317)

(855)

—

(1,172)

—

Non-GAAP selling, general and administrative expenses

$

33,847

$

34,727

$

34,228

$

68,574

$

68,032

Net income (GAAP)

$

15,528

$

14,002

$

13,991

$

29,530

$

26,351

Restructuring charges and other costs

1,471

3,343

2,364

4,814

3,790

Stock-based compensation expense

4,185

2,176

3,867

6,361

8,657

Amortization of intangible assets

1,204

1,204

1,591

2,408

3,183

Asset impairment

—

—

923

—

923

Legal and other settlement loss (gain)

317

855

(1,155)

1,172

(1,155)

Customer insolvency (recovery)

(316)

—

—

(316)

—

Income tax adjustments(1)

(1,437)

(1,393)

(1,484)

(2,830)

(3,007)

Non-GAAP net income

$

20,952

$

20,187

$

20,097

$

41,139

$

38,742

Diluted earnings per share:

Diluted (GAAP)

$

0.43

$

0.38

$

0.39

$

0.81

$

0.74

Diluted (Non-GAAP)

$

0.57

$

0.55

$

0.56

$

1.13

$

1.08

Weighted-average number of shares used in
   calculating diluted earnings per share:

Diluted (GAAP)

36,497

36,401

35,676

36,388

35,730

Diluted (Non-GAAP)

36,497

36,401

35,676

36,388

35,730

Net cash provided by (used in) operations

$

55,816

$

48,457

$

24,538

$

104,274

$

(368)

Additions to property, plant and
   equipment and software

(8,504)

(5,903)

(8,318)

(14,407)

(47,049)

Free cash flow (used)

$

47,312

$

42,554

$

16,220

$

89,867

$

(47,417)

(1)  This amount represents the tax impact of the non-GAAP adjustments using the applicable effective tax rates.

 

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SOURCE BENCHMARK ELECTRONICS

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Technology

From Remote Racing to Embodied AI: Fibocom and Intedigo Bring 5G Bidirectional Data Transmission into Real-World Applications

Published

56 minutes ago

on

July 18, 2026

By

SHANGHAI, July 18, 2026 /PRNewswire/ — From July 17 to 20, Fibocom and Intedigo will jointly present a cross-regional, beyond-visual-line-of-sight (BVLOS) teleoperation demonstration at Booth H3-C408 during the World Artificial Intelligence Conference (WAIC) 2026. Visitors will be able to enter a remote driving cockpit and control a real race car located at HURA PARK in Jiading, Shanghai, steering, accelerating, and braking in real time while experiencing how 5G connectivity enables remote operation.

More than an immersive driving experience, the demonstration provides a live validation of 5G bidirectional data transmission for embodied AI teleoperation. The vehicle continuously sends live track video, vehicle status, and operating data to the remote cockpit, while control commands are transmitted back to the vehicle, creating a closed-loop teleoperation system. Stable, low-latency, and highly reliable connectivity is essential for high-dynamic maneuvers such as high-speed cornering, precision braking, and continuous lane changes.

Developed by Intedigo, the remote driving system connects a real race car with an immersive remote driving cockpit. It supports 1080p@60Hz video transmission, glass-to-glass (G2G) video latency of less than 80 ms, and control latency of less than 10 ms. The demanding racing environment magnifies differences in video continuity and control responsiveness, making communications performance directly perceptible, measurable, and verifiable.

At the joint demonstration, Fibocom’s FM160 5G module provides cellular connectivity for the system. Powered by the Qualcomm Snapdragon™ X62 5G Modem-RF System, the FM160 supports SA and NSA network architectures as well as 3GPP Release 16. On the downlink, it supports NR Carrier Aggregation (NR CA) with bandwidth of up to 120 MHz, delivering peak speeds of up to 3.5 Gbps in NSA mode and 2.5 Gbps in SA mode. On the uplink, it supports UL MIMO and delivers peak speeds of up to 900 Mbps in SA mode. These capabilities support the continuous transmission of HD video and vehicle status data, along with reliable delivery of control commands.

As embodied AI moves into factories, data centers, logistics operations, and industrial parks, robots are becoming increasingly capable of performing tasks autonomously. Yet complex environments, unexpected events, and edge cases still require Human-in-the-Loop (HITL) remote intervention to help ensure safe and reliable operation.

Daniel Liu, CEO of Intedigo, said:

“5G represents the pinnacle of human communications and the starting point of machine communications. In the past, communications connected people to people; in the future, they will connect people to robots and robots to robots. Remote racing is simply the easiest entry point for people to understand this concept. What we are truly validating is a communications system capable of supporting remote collaboration for embodied AI. HURA makes low-latency remote driving a tangible experience, while RoBOX extends this capability to robots and a broader range of intelligent terminals. Together with Fibocom, we hope to enable more machines to receive remote assistance whenever needed while remaining continuously connected and operating reliably.”

Simon Tao, VP of Wireless Solutions Business Group and General Manager of MBB BU at Fibocom, said:

“As embodied AI enters real-world industrial environments, reliable connectivity will become the foundation for telemetry feedback, remote control and operational management. Fibocom’s 5G solutions, represented by FM160, provide the cellular connectivity required for continuous on-site data transmission and reliable control command delivery. Fibocom will continue collaborating with ecosystem partners such as Intedigo to bring cellular connectivity to more robots, autonomous machines and mobile intelligent terminals, enabling embodied AI systems to stay continuously connected and respond reliably in real-world applications.”

From remote race cars to robots, unmanned equipment, and mobile intelligent terminals, 5G is evolving from connecting people to connecting machines. This joint demonstration makes the capabilities of 5G bidirectional data transmission directly perceptible, experiential, and verifiable, helping pave the way for embodied AI to scale across real-world applications.
 

About Fibocom

Fibocom, founded in 1999, is China’s first wireless communication module company listed on both the A-share and H-share markets (300638.SZ, 0638.HK). As a global leading provider of wireless communication modules and AI solutions, Fibocom leverages wireless communication and artificial intelligence as its core technologies to provide integrated hardware and software solutions that empower industry applications. These solutions accelerate the transformation from “Connect Everything” to “Intelligent Connectivity” across diverse industries.

Fibocom’s one-stop solutions encompass cellular communication, AI, automotive, and GNSS modules, as well as AI toolchains, supporting industry-side and mainstream large model integration, and providing AI Agent, global connectivity, and cloud services, driving the digital intelligence upgrades in industries such as robotics, consumer electronics, low-altitude economy, intelligent transportation, smart retail, and smart energy.

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SOURCE Fibocom Wireless Inc.

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DR. PHONE FIX ANNOUNCES SECOND TRANCHE CLOSING OF NON-BROKERED CONVERTIBLE DEBENTURE UNIT FINANCING

Published

56 minutes ago

on

July 18, 2026

By

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

EDMONTON, AB, July 18, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (“Dr. Phone Fix” or the “Company”) (TSXV: DPF) is pleased to announce that, further to its news release dated May 19, 2026 and June 24, 2026 (the “Prior News Releases”), it has closed the second tranche of its non-brokered private placement (the “Offering”) of convertible debenture units of the Company (each, a “Unit”). The Company issued 726 Units, at a price of $1,000 per Unit, for aggregate gross proceeds of $726,000. Each Unit is comprised of (i) one $1,000 principal amount unsecured convertible debenture of the Company (a “Convertible Debenture”) and (ii) 3,125 common share (“Common Share”) purchase warrants of the Company (each, a “Warrant”). Additional detail on the Offering, including terms of the Convertible Debentures and Warrants, is set out in the Prior News Releases.

In connection with the Offering, the Company paid a finder’s fee consisting of an aggregate cash fee of $50,820 and issued an aggregate of 317,625 common share purchase warrants of the Company (each, a “Finder’s Warrant”) to certain qualified arm’s length parties. Each Finder’s Warrant is exercisable to acquire one Common Share of the Company at an exercise price of $0.22 prior to the date that is 24 months from the date of issuance.

All securities issued pursuant to the Offering, including any Common Shares issuable upon conversion of the Convertible Debentures or exercise of the Warrants and Finder’s Warrants, are subject to a statutory hold period of four months and one day from the closing of the Offering, in accordance with applicable securities laws and TSX Venture Exchange (the “TSXV”) policies. 

The Offering remains subject to final acceptance of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Dr. Phone Fix

Dr. Phone Fix is a national, award-winning, eco-friendly, and customer-centric leader in Canada’s cell phone and electronics repair and certified pre-owned device industry. Founded in 2019, the Company now operates 44 retail locations nationwide through a standardized and scalable operating platform designed to support consistent execution across multiple markets, delivering fast, reliable, and environmentally conscious repair services alongside a curated selection of certified pre-owned devices and premium accessories. Dr. Phone Fix maintains strong partnerships with OEMs and certified suppliers, ensuring consistently high-quality standards across its national footprint. With a focus on responsible device lifecycle management, customer service, and operational discipline, Dr. Phone Fix continues to set the benchmark for device care and resale in Canada.

www.docphonefix.com

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Information and Cautionary Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the final acceptance of the Offering by the TSXV; and the expected use of proceeds following the closing of the Offering. Forward-looking information in this news release is based on certain assumptions and expected future events, namely: the Company’s financial condition and development plans do not change as a result of unforeseen events; the TSXV will provide its final acceptance of the Offering; and the Company will be able to obtain the financing required in order to develop and continue its business and operations. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to obtain TSXV final acceptance for the Offering; the potential failure to complete the balance of the Offering or to raise the full anticipated gross proceeds; market conditions and investor demand for the Company’s securities; the Company’s inability to deploy the proceeds as currently intended; and general economic and market conditions. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

 

SOURCE Dr. Phone Fix

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Technology

Football Tournament Season Sparks Global Social Connection Surge as 3Fun Reports Growth Across Key Markets

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2 hours ago

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July 18, 2026

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NEW YORK, July 18, 2026 /PRNewswire/ — As the World Cup enters its final stage and fans celebrate across the globe, new data from 3Fun, the leading dating app for open-minded singles and partners, reveals that the World Cup’s impact extends far beyond the stadium. The tournament has ignited a massive surge in global social activity, with users increasingly turning to the platform to translate sporting euphoria into personal connections.

The “Celebratory Intimacy” Effect: Why Winning Drives Matching

Psychological research has long suggested that major sports victories do more than just boost national pride; they influence human biology and intimacy. Studies indicate that watching a favorite team win can temporarily elevate testosterone levels in fans, leading to a surge in sexual desire and “celebratory intimacy”. This theory is vividly reflected in 3Fun’s latest performance metrics.

Compared with the previous 20-day period, 3Fun saw a 6.13% increase in Daily Active Users (DAU) during the peak of the World Cup season (June 23 – July 12), adding more than 275,000 active participants. The platform’s “heat” was further evidenced by an additional 446,491 messages sent, while the user match rate jumped by 5.71%, resulting in nearly 50,000 new connections.

Spain and Argentina Lead the “Lust for Victory”

The data shows a direct correlation between success on the pitch and activity on 3Fun. Nations with deep football cultures and strong tournament performances saw the highest growth:

Spain: Witnessed a staggering 37.56% surge in new users.Argentina: Followed with a 26.62% increase.France & Mexico: Saw growth rates of 25.44% and 21.42% respectively.

In the U.S., cities like Houston (+8.98%) and New York (+7.45%) led the way. This trend aligns with a broader cultural shift: recent 3Fun data reveals that 69% of Americans report a growing interest in non-traditional relationships, with 77% of seekers preferring dating apps to find compatible partners.

Digital Jet-Setting: 3Fun’s “Roaming” Feature Becomes a Fan Favorite

While millions traveled for the games, many more “traveled” virtually. 3Fun’s new Roaming feature, currently in gray-scale testing, allows users to explore connections beyond their current location by virtually discovering communities in other cities.

The top 10 “Roaming” destinations during the Football Tournament  season reveal where the world’s social interest was concentrated:

Sao Paulo, Brazil (17.35% of total roaming volume)New York, USA (14.82%)Las Vegas, USA (11.37%)Los Angeles, USA (11.19%)London, UK (9.89%)Rio de Janeiro, Brazil (7.40%)Houston, USA (7.36%)Dallas, USA (7.18%)Miami, USA (6.85%)Chicago, USA (6.60%).

The dominance of Brazilian cities like Sao Paulo and Rio de Janeiro highlights a “digital pilgrimage” to the spiritual home of football, where users sought to connect with the local energy and like-minded fans.

3Fun Insight: Connection Beyond the Game

“Major global events like the World Cup bring people together far beyond the borders of the pitch,” said Daniel Morgan, 3Fun’s Director of Social Trends. “Our data shows that users aren’t just looking for scores; they are looking for meaningful, shared experiences. Whether through virtual roaming or local matching, these events create unique windows for people to explore their desires in a safe, celebratory, and inclusive community”.

Daniel further noted, “With 72% of users noticing growing acceptance of diverse relationship styles, global sports events such as the World Cup represent a moment when people feel more open to meeting others and exploring new forms of connection”.

About 3Fun: With over 10 million downloads and 3 million verified active users worldwide, 3Fun is the leading dating app for open-minded singles and partners to meet like-minded people. The platform provides a safe and inclusive space to explore ethical open relationships and polyamory, fostering community and connection without judgment. 

Disclaimer: 3Fun is not affiliated with, endorsed by, or sponsored by FIFA, the World Cup, or any official World Cup organizing body. All references to the tournament are descriptive or for informational and topical context only.

View original content:https://www.prnewswire.com/news-releases/football-tournament-season-sparks-global-social-connection-surge-as-3fun-reports-growth-across-key-markets-302828995.html

SOURCE 3Fun

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