TRIB · Trinity Biotech plc

Trinity Biotech's Q4 2025 results reflect the ongoing impact of its Comprehensive Transformation Plan. Revenue of $11.1 million declined 30% year-over-year, primarily due to disruption in global HIV testing funding and manufacturing transitions for TrinScreen HIV. However, gross margin improved significantly to 35.2% from 30.8%, driven by cost savings from manufacturing consolidation and operational efficiencies. Net loss widened to $17.5 million, including a $10.0 million one-time IFRS charge from modifying Perceptive financing. Adjusted EBITDA improved to negative $0.5 million from negative $7.0 million, indicating underlying operational progress. The appointment of Jerry Lydon as Head of North America Commercial Operations signals a shift from restructuring to revenue growth and profitability. Key transformation milestones include successful scaling of outsourced TrinScreen HIV manufacturing and commencement of Uni-Gold HIV production. The company also highlighted the Premier Hb9210 platform receiving IFCC Gold classification, supporting its competitive position. Management's focus on disciplined commercial execution and leveraging the improved cost structure is expected to drive sustainable financial improvement.