Trinity Biotech plc announced its financial results for the quarter ended September 30, 2024, on November 15, 2024, reporting total revenue of $15.2 million. This represents a 3.2% increase year-over-year compared to $14.7 million in Q3 2023. The Point-of-Care (PoC) portfolio was a strong performer, generating $4.3 million in revenue, a 60.1% increase year-over-year, driven by $2.4 million in TrinScreen HIV sales.
Clinical laboratory revenue decreased by 9.6% to $10.8 million, though the clinical chemistry portfolio grew by 79.3% year-over-year. The haemoglobins business saw a 17.1% decrease due to lower instrument sales during the rollout of a new column system. Gross profit for the quarter was $5.3 million, with a gross margin of 35.0%, broadly in line with Q3 2023 when excluding stock obsolescence charges.
The company's operating loss decreased by 51% to $2.2 million before restructuring and impairment charges, from $4.5 million in Q3 2023. Selling, general and administrative (SG&A) expenses decreased by $1.2 million to $6.5 million, primarily due to lower employee remuneration costs. Trinity Biotech reiterated its guidance for annualized run-rate revenues of approximately $75 million and annualized run-rate EBITDASO of approximately $20 million by Q2 2025, and 2024 TrinScreen HIV sales of approximately $10 million.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.