Trinity Biotech PLC
NASDAQ:TRIB
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Trinity Biotech PLC
Trinity Biotech Plc engages in the development, manufacture, and marketing of medical diagnostic products for the clinical laboratory and point-of-care segments of the diagnostic market. The company is headquartered in Bray, Wicklow. The firm's products are used to detect autoimmune, infectious and sexually transmitted diseases, diabetes and disorders of the liver and intestine. The company operates through two segments: the Americas and Rest of World. Its products are classified as POC, emergency medicine, clinical laboratory and blood bank screening. Its POC brands include Uni-Gold and Recombigen. Emergency medicine diagnostics refer to its acute care testing, STAT labs, pre/post-operative units, physician office labs and the central laboratory. Trinity Biotech supplies clinical laboratory market with reagent products and other products through its clinical chemistry business.
Trinity Biotech Plc engages in the development, manufacture, and marketing of medical diagnostic products for the clinical laboratory and point-of-care segments of the diagnostic market. The company is headquartered in Bray, Wicklow. The firm's products are used to detect autoimmune, infectious and sexually transmitted diseases, diabetes and disorders of the liver and intestine. The company operates through two segments: the Americas and Rest of World. Its products are classified as POC, emergency medicine, clinical laboratory and blood bank screening. Its POC brands include Uni-Gold and Recombigen. Emergency medicine diagnostics refer to its acute care testing, STAT labs, pre/post-operative units, physician office labs and the central laboratory. Trinity Biotech supplies clinical laboratory market with reagent products and other products through its clinical chemistry business.
Revenue Growth: Trinity Biotech delivered Q3 2024 revenue of $15.2 million, up just over 3% year-over-year, driven by strong TrinScreen HIV sales.
Cost Reduction: Operating loss improved to $2.6 million from $4.5 million in Q3 2023, reflecting ongoing cost-cutting and operational efficiency efforts.
Transformation Progress: The company is on track with its transformation plan, consolidating manufacturing, offshoring production, and centralizing corporate services, with most initiatives expected to complete by early 2025.
TrinScreen Outlook: Management reiterated 2024 TrinScreen HIV sales guidance of approximately $10 million, expecting around $3 million in Q4.
Margin Trends: Gross margin was 35% for the quarter, impacted by higher TrinScreen sales, but expected to improve as operational changes take effect.
New Growth Drivers: Trinity is investing in a next-generation continuous glucose monitor (CGM) and has acquired innovative prostate cancer and preeclampsia diagnostic technologies.
NASDAQ Compliance: The company has regained compliance with NASDAQ listing requirements, removing a key risk overhang.
