Trinity Biotech (TRIB) Q1 2026 earnings summary

Executive summary

• Received orders for over 2 million TrinScreen HIV tests, to be fulfilled in Q3 2026, supporting revenue and profitability targets.

• Demand for rapid HIV diagnostics rebounded after 2025 disruptions in international aid funding.

• Commercial scale-up of outsourced UniGold HIV production underway, expected to improve gross margin, EBITDA, and cash flow in Q3 2026.

• Development pipeline advancing, including CGM+ and other innovation programs for long-term growth.

Financial highlights

• Q1 2026 revenue rose 43% year-over-year to $10.8m, driven by rapid HIV and haemoglobin product sales.

• Gross margin improved to 35.4% from 25.2% year-over-year; gross profit reached $3.8m, up from $1.9m.

• Net loss narrowed to $4.4m from $8.8m in Q1 2025.

• Adjusted EBITDA was negative $1.1m, a significant improvement from negative $4.0m in Q1 2025.

Outlook and guidance

• Orders and manufacturing scale-up reinforce confidence in achieving 2026 revenue and profitability goals.

• Commercial scale-up of outsourced manufacturing expected to be substantially complete in Q3 2026.

• Continued focus on innovation and new product development to support long-term growth.