Trinity Biotech (TRIB) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was $14.2m on a like-for-like basis, slightly down from $14.6m in Q3 2024, excluding discontinued low-margin product lines.

• Strong quarter-on-quarter revenue growth driven by UniGold HIV sales and resumption of TrinScreen HIV manufacturing under a new outsourced model.

• Achieved positive Adjusted EBITDA of $0.5m, a significant improvement from negative $1.4m in Q3 2024.

• Net loss widened to $5.1m from $4.8m in Q3 2024, but loss per ADS improved to $0.28 from $0.46.

Financial highlights

• Total revenue was $14.3m, down from $15.2m in Q3 2024.

• Gross profit increased to $6.5m (Q3 2024: $5.3m) with gross margin rising to 45.2% from 35.0%.

• Adjusted EBITDA turned positive at $0.5m versus negative $1.4m a year ago.

• R&D expense reduced to $0.8m (Q3 2024: $1.0m), with $1.7m capitalized, including $1.0m for the CGM program.

• SG&A expense decreased to $6.2m from $6.5m, reflecting cost reductions.

Outlook and guidance

• Additional liquidity of $4.0m was secured from the primary lender in October 2025.

• Forward-looking statements highlight focus on growth, market acceptance of new products, and recurring revenues, but caution on risks such as debt reduction, profitability, and market conditions.