Trinity Biotech plc (TRIB), a commercial-stage biotechnology company, on Tuesday reported a narrower net loss and higher revenue for the first quarter ended March 31, 2026, and provided updates for upcoming events in 2026.
Shares fell over 15% in Tuesday's trade.
Q1 2026
Net loss for this quarter totaled $4.39 million, or $0.23 per share, marking a 50% decrease from the $8.79 million, or $0.48 per share, reported last year. The narrower loss is attributable to higher revenues from increased sales of Rapid HIV tests, amounting to $3.7 million, compared to $0.4 million in the prior year.
Total revenue for Q1 2026 increased by 43% to $10.85 million, compared to $7.57 million in the previous year.
The EBITDA amounted to a loss of $1.95 million for the first quarter this year, considerably lower than $5.84 million from last year.
Adjusted EBITDA came to a loss of $1.06 million for the present quarter, relatively less than $3.96 million for the same quarter last year.
As of March 31, 2026, cash and cash equivalents totaled to $2.02 million.
Operational Highlights and Upcoming Events
- Trinity Biotech received over 2 million purchase orders for its rapid HIV test, TrinScreen HIV. The order is scheduled for completion in the third quarter of 2026.
- Following regulatory approvals granted this year for UniGold HIV, the company anticipates the commercial scale-up during the third quarter. This facilitates the company's Comprehensive Transformation Plan, which may deliver improvements in gross margin, EBITDA, and cash flow generation.
Trinity shares closed Tuesday at $0.57, down 15.83%. In the pre-market, shares are trading at $0.58, up 2.67%.
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