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BENCHMARK REPORTS THIRD QUARTER 2024 RESULTS

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2 years ago

on

TEMPE, Ariz., Oct. 30, 2024 /PRNewswire/ — Benchmark Electronics, Inc. (NYSE: BHE) today announced financial results for the third quarter ended September 30, 2024.

Third quarter 2024 results(1):

Revenue of $658 millionGenerated net cash provided by operations of $39 million and positive free cash flow of $29 millionGAAP and non-GAAP gross margin of 10.1% and 10.2%, respectivelyGAAP and non-GAAP operating margin of 4.3% and 5.3%, respectivelyGAAP and non-GAAP earnings per share of $0.42 and $0.57, respectively

Three Months Ended

September 30,

June 30,

September 30,

(Amounts in millions, except per share data)

2024

2024

2023

Sales

$

658

$

666

$

720

Net income

$

15

$

16

$

20

Income from operations

$

28

$

27

$

30

Net income – non-GAAP(1)

$

21

$

21

$

23

Income from operations – non-GAAP(1)

$

35

$

34

$

37

Diluted earnings per share

$

0.42

$

0.43

$

0.57

Diluted earnings per share – non-GAAP(1)

$

0.57

$

0.57

$

0.65

Operating margin

4.3

%

4.1

%

4.2

%

Operating margin – non-GAAP(1)

5.3

%

5.1

%

5.2

%

 

(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.

 

“Our third quarter results represent the 16th consecutive quarter of non-GAAP operating margin expansion on a year-over-year basis.  These results coupled with our focused working capital initiatives, has enabled us to deliver $245 million of positive free cash flow over the last 12 months,” said Jeff Benck, Benchmark’s President and CEO.

Benck continued “I would again like to welcome our new CFO, Bryan Schumaker, to the company. I am confident with his background and experience he will play a key role in helping drive continued operational excellence as we embark on our next phase of growth.”

Cash Conversion Cycle

September 30,

June 30,

September 30,

2024

2024

2023

Accounts receivable days

51

51

60

Contract asset days

26

25

24

Inventory days

89

90

100

Accounts payable days

(54)

(52)

(53)

Advance payments from customers days

(22)

(24)

(26)

Cash conversion cycle days

90

90

105

 

Third Quarter 2024 Industry Sector Update

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

September 30,

June 30,

September 30,

(In millions)

2024

2024

2023

Semi-Cap

$

188

28

%

$

172

26

%

$

165

23

%

Complex Industrials

151

23

142

21

154

21

Medical

107

16

111

17

149

21

A&D

102

16

109

16

100

14

AC&C

110

17

132

20

152

21

Total

$

658

100

%

$

666

100

%

$

720

100

%

 

Revenue decreased quarter over quarter primarily due to decreases in 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 Medical and AC&C sales, which were partially offset by increases in Semi-Cap and A&D sales.

Fourth Quarter 2024 Guidance

Revenue between $640 million – $680 millionDiluted GAAP earnings per share between $0.40 – $0.46Diluted non-GAAP earnings per share between $0.53 – $0.59Non-GAAP earnings per share guidance excludes stock-based compensation expense, amortization of intangible assets and restructuring charges and other costs.

In the fourth quarter of 2024, stock-based compensation expense is expected to be $3.5 million, amortization of intangible assets is expected to be $1.2 million and restructuring and other charges are expected to be approximately $1.0 million.

Third 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 fourth 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, amortization of intangibles, award of any tax incentives and capital expenditures, 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

Nine Months Ended

September 30,

September 30,

2024

2023

2024

2023

Sales

$

657,747

$

719,695

$

1,999,218

$

2,147,622

Cost of sales

591,006

650,618

1,797,119

1,947,556

Gross profit

66,741

69,077

202,099

200,066

Selling, general and administrative expenses

36,636

35,509

111,990

111,379

Amortization of intangible assets

1,205

1,592

3,613

4,775

Restructuring charges and other costs

795

1,635

5,609

6,348

Income from operations

28,105

30,341

80,887

77,564

Interest expense

(6,569)

(8,475)

(20,747)

(23,183)

Interest income

2,811

1,343

7,329

4,223

Other (expense) income, net

(3,952)

2,384

(7,452)

280

Income before income taxes

20,395

25,593

60,017

58,884

Income tax expense

5,021

5,181

15,113

12,121

Net income

$

15,374

$

20,412

$

44,904

$

46,763

Earnings per share:

Basic

$

0.43

$

0.57

$

1.25

$

1.32

Diluted

$

0.42

$

0.57

$

1.23

$

1.30

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

 Basic

36,051

35,647

35,970

35,535

 Diluted

36,629

35,876

36,469

35,879

 

Benchmark Electronics, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In Thousands)
(UNAUDITED)

September 30,

December 31,

2024

2023

Assets

Current assets:

Cash and cash equivalents

$

324,423

$

277,391

Restricted cash

—

5,822

Accounts receivable, net

372,276

449,404

Contract assets

186,538

174,979

Inventories

581,901

683,801

Prepaid expenses and other current assets

43,569

44,350

Total current assets

1,508,707

1,635,747

Property, plant and equipment, net

224,164

227,698

Operating lease right-of-use assets

122,117

130,830

Goodwill and other long-term assets

294,009

280,480

Total assets

$

2,148,997

$

2,274,755

Liabilities and Shareholders’ Equity

Current liabilities:

Current installments of long-term debt

$

6,751

$

4,283

Accounts payable

356,038

367,480

Advance payments from customers

145,350

204,883

Accrued liabilities

130,992

136,901

Total current liabilities

639,131

713,547

Long-term debt, net of current installments

272,000

326,674

Operating lease liabilities

114,181

123,385

Other long-term liabilities

21,009

32,064

Total liabilities

1,046,321

1,195,670

Shareholders’ equity

1,102,676

1,079,085

Total liabilities and shareholders’ equity

$

2,148,997

$

2,274,755

 

Benchmark Electronics, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(In Thousands)
(UNAUDITED)

Nine Months Ended

September 30,

2024

2023

Cash flows from operating activities:

Net income

$

44,904

$

46,763

Depreciation and amortization

34,578

34,103

Stock-based compensation expense

10,740

12,331

Accounts receivable

76,479

12,937

Contract assets

(11,559)

(6,472)

Inventories

102,540

1,789

Accounts payable

(16,107)

(24,420)

Advance payments from customers

(59,533)

(8,879)

Other changes in working capital and other, net

(38,733)

(30,938)

Net cash provided by operating activities

143,309

37,214

Cash flows from investing activities:

Additions to property, plant and equipment and software

(24,221)

(66,713)

Other investing activities, net

483

588

Net cash used in investing activities

(23,738)

(66,125)

Cash flows from financing activities:

Share repurchases

(5,101)

—

Net debt activity

(52,596)

107,194

Other financing activities, net

(23,507)

(23,306)

Net cash (used in) provided by financing activities

(81,204)

83,888

Effect of exchange rate changes

2,843

(1,647)

Net increase in cash and cash equivalents and restricted cash

41,210

53,330

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

$

324,423

$

260,760

 

Benchmark Electronics, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Financial Results
(Amounts in Thousands, Except Per Share Data)
(UNAUDITED)

 

Three Months Ended

Nine Months Ended

Sept 30,

June 30,

March 31,

Dec 31,

Sept 30,

Sept 30,

2024

2024

2024

2023

2023

2024

2023

Income from operations (GAAP)

$

28,105

$

27,253

$

25,529

$

32,100

$

30,341

$

80,887

$

77,564

Restructuring charges and other costs

795

1,471

3,343

2,054

1,437

5,609

5,227

Stock-based compensation expense

4,379

4,185

2,176

2,955

3,674

10,740

12,331

Amortization of intangible assets

1,205

1,204

1,204

1,204

1,592

3,613

4,775

Asset impairment

—

—

—

—

198

—

1,121

Legal and other settlement loss (gain)

367

317

855

—

—

1,539

—

Customer insolvency (recovery)

—

(316)

—

—

—

(316)

—

Non-GAAP income from operations

$

34,851

$

34,114

$

33,107

$

38,313

$

37,242

$

102,072

$

101,018

GAAP operating margin

4.3

%

4.1

%

3.8

%

4.6

%

4.2

%

4.0

%

3.6

%

Non-GAAP operating margin

5.3

%

5.1

%

4.9

%

5.5

%

5.2

%

5.1

%

4.7

%

Gross profit (GAAP)

$

66,741

$

67,950

$

67,408

$

71,004

$

69,077

$

202,099

$

200,066

Stock-based compensation expense

413

326

426

416

420

1,165

1,239

Customer insolvency (recovery)

—

(316)

—

—

—

(316)

—

Non-GAAP gross profit

$

67,154

$

67,960

$

67,834

$

71,420

$

69,497

$

202,948

$

201,305

GAAP gross margin

10.1

%

10.2

%

10.0

%

10.3

%

9.6

%

10.1

%

9.3

%

Non-GAAP gross margin

10.2

%

10.2

%

10.0

%

10.3

%

9.7

%

10.2

%

9.4

%

Selling, general and administrative expenses

$

36,636

$

38,022

$

37,332

$

35,646

$

35,509

$

111,990

$

111,379

Stock-based compensation expense

(3,966)

(3,859)

(1,750)

(2,539)

(3,254)

(9,575)

(11,092)

Legal and other settlement (loss) gain

(367)

(317)

(855)

—

—

(1,539)

—

Non-GAAP selling, general and administrative expenses

$

32,303

$

33,847

$

34,727

$

33,107

$

32,255

$

100,876

$

100,287

Net income (GAAP)

$

15,374

$

15,528

$

14,002

$

17,552

$

20,412

$

44,904

$

46,763

Restructuring charges and other costs

795

1,471

3,343

2,899

1,437

5,609

5,227

Stock-based compensation expense

4,379

4,185

2,176

2,955

3,674

10,740

12,331

Amortization of intangible assets

1,205

1,204

1,204

1,204

1,592

3,613

4,775

Asset impairment

—

—

—

—

198

—

1,121

Legal and other settlement loss (gain)

367

317

855

(37)

(3,375)

1,539

(4,530)

Customer insolvency (recovery)

—

(316)

—

—

—

(316)

—

Income tax adjustments(1)

(1,406)

(1,437)

(1,393)

(1,280)

(529)

(4,236)

(3,536)

Non-GAAP net income

$

20,714

$

20,952

$

20,187

$

23,293

$

23,409

$

61,853

$

62,151

Diluted earnings per share:

Diluted (GAAP)

$

0.42

$

0.43

$

0.38

$

0.49

$

0.57

$

1.23

$

1.30

Diluted (Non-GAAP)

$

0.57

$

0.57

$

0.55

$

0.65

$

0.65

$

1.70

$

1.73

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

Diluted (GAAP)

36,629

36,497

36,401

35,956

35,876

36,469

35,879

Diluted (Non-GAAP)

36,629

36,497

36,401

35,956

35,876

36,469

35,879

Net cash provided by operations

$

39,036

$

55,816

$

48,457

$

137,079

$

37,583

$

143,309

$

37,214

Additions to property, plant and
equipment and software

(9,814)

(8,504)

(5,903)

(11,026)

(19,664)

(24,221)

(66,713)

Free cash flow (used)

$

29,222

$

47,312

$

42,554

$

126,053

$

17,919

$

119,088

$

(29,499)

 

(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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Texas Athletics and McCombs School of Business Launch New Bevo Lab, Bringing Together Sports, AI and Analytics

Published

25 minutes ago

on

October 23, 2026

By

Dell Technologies, Google Cloud and SHI International join Texas Athletics to power a first-of-its-kind hub for sports intelligence, data analytics, research, and talent development

AUSTIN, Texas, Oct. 23, 2026 /PRNewswire/ — University of Texas Athletics and the Business of Sports Institute (BOSI) in the McCombs School of Business, in cooperation with Longhorn Sports Properties, today announced the launch of Bevo Lab, a unique collaboration that will serve as higher education’s premier sports intelligence platform and living laboratory—bringing together sports, technology, data analytics, and artificial intelligence (AI) to elevate human performance while expanding hands-on learning opportunities for students.
 

Joined by Dell Technologies, Google Cloud, and SHI International, Texas Athletics is building the premier sports intelligence platform in higher education, creating a standard of excellence that spans 21 intercollegiate teams and over 500 student-athletes. Bevo Lab will leverage AI-driven research and data analytics to deliver real-world solutions to help athletes and coaches become more efficient in their training and preparation while developing a pipeline of students with hands-on experience for sought-after careers in technology and sports analytics.

“With the help of our nationally ranked academic leaders and cutting-edge technology brand sponsors, Bevo Lab will become the global benchmark for innovation in sports AI and data analytics, making Texas Athletics the most data-driven athletic program in the country,” said Chris Del Conte, vice president and Folger Family Athletics Director at The University of Texas. “What starts here changes the world, and this vision will transform collegiate athletics. There is no bigger stage, no more powerful brand and no better time than now to lead in this new evolution of sports technology.”

Del Conte will officially announce Bevo Lab today at Texas’ Business of College Sports Summit.

Named for the university’s esteemed and powerful live mascot, Bevo Lab will be a part of BOSI, an academic and research center in McCombs that combines business education, on-field/on-court performance analytics, applied research, and industry participation. The lab will engage as many as 40 student researchers annually in managing the modeling and data projects under the direction of acclaimed sports data analyst, author, and BOSI executive director Kirk Goldsberry, Ph.D.

“The AI and emerging technologies provided by our industry partners will empower our students and researchers to deliver improved efficiency and increased speed in data analysis to boost performance and improve success,” added Goldsberry. “Bevo Lab will reinforce Texas as a leader in sports analytics and AI and will serve as the blueprint for the future of sports.”

Key innovations driving the Bevo Lab:

Bevo Lakehouse: A unified data warehouse that consolidates previously siloed sports-specific data such as game film and wearable technology into a single platform—starting with football, before expanding across all 21 varsity sports.Predictive AI & analytics models: Custom machine learning frameworks, including “transfer AI” for roster evaluation, designed to give coaches actionable insights for game strategy, scouting, and player development.Tailored front-end applications: Intuitive visual and natural language interfaces built specifically for the distinct daily workflows of athletes, coaches and athletic executives.Next-generation skills training: A hands-on program for UT students to gain AI skills and deploy live applications alongside athletic teams. Through a first-of-its-kind Google Public Sector ambassador program, students will also get to work directly with engineering teams, gaining high-stakes industry experience to launch careers in tech and sports analytics.

Dell Technologies: Powering a New Era in College Athletics

Dell Technologies is deepening its decadeslong relationship with The University of Texas as the premier founding sponsor and the Official Technology Infrastructure Sponsor of Bevo Lab. Building on a broad history of collaboration that spans groundbreaking research at the Texas Advanced Computing Center and technology innovation across Texas Athletics, Dell is providing the secure AI-ready infrastructure that powers Bevo Lab, enabling students, researchers, coaches and student-athletes to transform data into actionable insights, accelerate innovation and elevate human performance.

“Bevo Lab represents the next chapter in Dell Technologies’ longstanding relationship with The University of Texas and our shared commitment to innovation,” said Geraldine Tunnell, chief marketing officer, Dell Technologies. “By providing the secure, AI-ready infrastructure that powers this initiative, we’re enabling students, researchers, coaches and student-athletes to turn data into insight, accelerate innovation and unlock new possibilities for human performance. Together, we’re helping shape the future of sports analytics, research and education.”

Google Cloud: Pioneering AI Breakthroughs from Campus to Game Day

Google Cloud joins Bevo Lab as the Official Cloud Provider and Enterprise AI Provider, establishing a secure, powerful data foundation built for the future of collegiate athletic performance. By leveraging Google Cloud and Gemini, Google’s advanced multimodal, agentic AI, student researchers and athletic staff members can quickly unify vast athletic datasets to generate real-time sports intelligence. Google Public Sector’s Rapid Innovation and Specialty Engineering Teams will collaborate directly with UT coaches and students to prototype new sports technology while mentoring future sports and technology leaders. In fact, early collaboration with Google Public Sector has already introduced AI-driven workflows that save UT coaches more than 15 hours per week in game preparation, giving them critical time back to focus on strategy and player development.

“As a proud UT alum, I am thrilled to see my alma mater leading the charge at the intersection of collegiate sports, academic research, and artificial intelligence,” said Matt Renner, president and chief revenue officer of Google Cloud. “Bevo Lab will establish a new global benchmark for sports innovation, directly enhancing how the Longhorns will train, game plan, and compete on the field while providing a premier launchpad for the next generation of tech and sports analytics leaders. By putting our advanced data analytics platforms and Gemini models into the hands of UT students, coaches, and researchers, we are building a secure foundation for sports intelligence that will define the future of the industry.”

SHI International: Uniting Strategy and Integration for the Win

Founding sponsor SHI will serve as the strategic technology and solutions integrator of Bevo Lab, translating Texas Athletics’ vision into a secure, scalable technology architecture. Drawing on its deep expertise across IT infrastructure, cloud, AI and cybersecurity, SHI will orchestrate the partner ecosystem, ensuring multiple technologies across Bevo Lab operate as one unified platform for sports innovation that will evolve with the university’s athletic performance and provide research and workforce development opportunities for students managing the data analytics projects.

“For nearly four decades, customers have trusted SHI to bring together the right technologies, partners and expertise to build, manage and secure some of the world’s most complex IT environments,” said Jack Hogan, vice president of Advanced Growth Technologies at SHI International. “As the strategic technology and solutions integrator of Bevo Lab, we are thrilled to turn best-of-breed infrastructure, cloud, data, AI and security technologies into one trusted, scalable environment that enables Texas Athletics, coaches, student-athletes and researchers to achieve greatness on the playing field, in the lab, in the classroom and throughout their post-college careers.”

Strategic Collaboration Across Athletics and Industry

Longhorn Sports Properties, the Austin-based division of college media and technology leader Learfield, assisted in the development of Bevo Lab and secured its founding corporate sponsors.

“Bevo Lab is a cutting-edge collaboration that will make a tremendous positive impact on our coaches, our student-athletes and the university,” said Lucas Motta, vice president of Longhorn Sports Properties. “We are excited to lock arms with Dell Technologies, Google Cloud and SHI as leaders within their industry, and together we will help power Texas Athletics to even more championships while preparing our students for the new era in the tech workforce.”

Bevo Lab will be housed in Innovation Tower adjacent to the UT campus and in the heart of Austin’s Innovation District. A dedicated microsite that details Bevo Lab and its research will be available at texaslonghorns.com/bevolab.

About Dell Technologies
Dell Technologies (NYSE: DELL) helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry’s broadest and most innovative technology and services portfolio for the AI era.
 

About Google Cloud
Google Cloud offers a powerful, optimized AI stack—including AI infrastructure, leading models like Gemini, data management capabilities, multicloud security solutions, developer tools and platform, as well as agents and applications—that enables organizations to transform their business for the Agentic Era. Customers in more than 200 countries and territories turn to Google Cloud as their trusted technology partner.

About SHI International
SHI International is a $16 billion transformational technology solutions integrator serving the needs of more than 17,000 corporate, enterprise, public sector and academic customer organizations around the world. It helps companies achieve business goals through the use of technologies ranging from software licensing and end user computing devices to innovative cloud and edge solutions. With over 7,000 employees worldwide, SHI is the largest Minority and Woman Owned Business Enterprise (MWBE) in the U.S.

About Learfield
Learfield is the leading media and technology company powering college athletics. Through its digital and physical platforms, Learfield owns and leverages a deep data set and relationships in the industry to drive revenue, growth, brand awareness, and fan engagement for brands, sports, and entertainment properties. With ties to over 1,200 collegiate institutions and over 12,000 local and national brand partners, Learfield’s presence in college sports and live events delivers influence and maximizes reach to target audiences. With solutions for a 365-day, 24/7 fan experience, Learfield enables schools and brands to connect with fans through licensed merchandise, game ticketing, donor identification for athletic programs, exclusive custom content, innovative revenue generation solutions, student-athlete marketing initiatives, and advanced digital platforms. Since 2008, it has served as title sponsor for the acclaimed Learfield Directors’ Cup, supporting athletic departments across all divisions. 

Media contacts:
University of Texas Athletics: John Bianco, john.bianco@athletics.utexas.edu, 512-471-1346

Longhorn Sports Properties/Learfield: Tammy Purves, tammy.purves@learfield.com, 404-932-3266

McCombs School of Business: Judie Kinonen, Judie.Kinonen@mccombs.utexas.edu, 409-356-3324

Dell Technologies: Lauren Mauro, media.relations@dell.com.

Google Cloud: press@google.com

SHI: Kaitlynn Cooney, SHI-PR@walkersands.com

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SOURCE Learfield

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Technology

XbotGo Named World’s No. 1 Consumer Team Sports AI Tracking Camera Brand

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October 23, 2026

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XbotGo recognized as the market leader in consumer team sports AI tracking technology based on 2025 unit sales.  

MOUNTAIN VIEW, Calif., Oct. 23, 2026 /PRNewswire/ — XbotGo is proud to announce that it has officially been recognized as the World’s No. 1 Consumer Team Sports AI Tracking Camera Brand by China Insights Consultancy (CIC), a premier independent market research and consulting firm.  

The certification, issued in October 2026 under research registration number ⁠CIC-2026-985176⁠, is based on a comprehensive evaluation of global unit sales volume throughout the 2025 calendar year. The market research specifically measures consumer-grade camera devices designed for team sports, such as basketball and football, that leverage advanced computer vision and artificial intelligence algorithms to automatically track athletes and capture dynamic gameplay without manual operation.  

“This global market recognition is a powerful testament to the hard work of our engineering teams and the trust our community places in us every day,” said Dr. David Tan, CEO of XbotGo. “From everyday parents and local youth coaches to elite amateur athletes, our mission has always been to make professional-grade sports analysis and hands-free recording accessible to everyone. Being named the global sales leader proves that our vision is resonating worldwide.”

The XbotGo Falcon series combines ultra-sharp 4K resolution, intelligent multi-player tracking, instant highlight creation, and seamless livestreaming capabilities into a compact, subscription-free device. By eliminating the need for a dedicated camera operator, XbotGo empowers teams and families to preserve and analyze every pivotal moment effortlessly.

To learn more about the XbotGo Falcon and explore its award-winning AI tracking technology, visit xbotgo.com.

About XbotGo

XbotGo was founded in 2021 by Dr. David Tan—a computer vision expert, hardware innovator, and devoted soccer dad. Like every parent on the sidelines, he found traditional cameras either too complex or too costly to capture his child’s moments on the field. That frustration sparked a vision: to make sports recording accessible to all through AI. Today, XbotGo is a global AI sports technology company owned by Blink Tech, headquartered in Silicon Valley, California, with R&D centers across Silicon Valley, Beijing, Shenzhen, and Suzhou.

Media Contact:
XbotGo
Gabriel Roxas
PR@xbotgo.com

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Technology

DataBeyond Showcases PICKINGMAN in Global Livestream from Operating Waste-Sorting Facility

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25 minutes ago

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October 23, 2026

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DONGGUAN, China, Oct. 23, 2026 /PRNewswire/ — DataBeyond showcased PICKINGMAN, its embodied AI robot for mixed municipal solid waste sorting, during the robot’s first global public livestream at 8 a.m. Beijing time on October 22. The broadcast took place at the Liaobu Municipal Solid Waste Integrated Treatment Center in Dongguan.

Built for Waste-Sorting Conditions

The broadcast demonstrated the robot working on an operating sorting line, highlighting the application of embodied AI to demanding industrial tasks involving mixed materials, dirty conditions and repetitive manual labor. PICKINGMAN began operating at the facility on September 22.

PICKINGMAN features dual arms with a total of 14 degrees of freedom, IP65-rated dust and water protection, and a maximum picking rate of 3,600 picks per hour. Designed to support continuous 24/7 operation, it can sort recyclables including PET bottles and trays, PP containers, PE items, aluminum cans and glass. It coordinates perception, decision-making and motion control to identify and pick target materials on a moving conveyor.

Project Results

Jointly developed by DataBeyond and Guangdong Dongshi Environment Co., Ltd., the Liaobu project combines robotic picking with AI optical sorting and other processing equipment. According to project data, the complete sorting line can process 50 metric tons of mixed municipal solid waste in four hours, achieving approximately 35% waste reduction and 25% resource recovery. Previously, sorting recyclables from the same volume required four skilled workers working for eight hours.

The integrated line separates recyclables for downstream recovery before residual waste is compressed and sent for further treatment, connecting resource recovery with existing waste management operations.

Workforce Benefits and Next Steps

For operators facing recruitment and retention challenges, robotic picking offers an alternative to repetitive manual sorting. The project aims to reduce workers’ direct contact with waste and enable personnel to focus on equipment inspection, production coordination and other technical roles.

“During the livestream, we identified areas where the robot still needs improvement,” said DataBeyond’s Mo Zhuoya. “Bridging the gap between R&D and industrial deployment requires engineering experience. We will accelerate product iteration and conduct longer global livestreams.”

About DataBeyond

DataBeyond develops AI-powered optical sorting equipment and robotic solutions for recycling and solid waste processing. The company integrates AI and multisensor technologies to improve material separation and support resource recovery.

Media Contact

Felix WU
marketing@databeyond.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/databeyond-showcases-pickingman-in-global-livestream-from-operating-waste-sorting-facility-302918041.html

SOURCE DataBeyond

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