Trinity Biotech plc announced its financial results for the fourth quarter and fiscal year ended December 31, 2024, on May 15, 2025. Total revenues for Q4 2024 were $15.9 million, an 18.1% increase compared to $13.4 million in Q4 2023. The Point-of-Care (PoC) portfolio saw significant growth, with revenues of $5.5 million, up 158.0% year-over-year, driven by $3.2 million in TrinScreen HIV sales.
For the full fiscal year 2024, total revenues from continuing operations were $61.6 million, an 8.3% increase from $56.8 million in 2023. PoC revenues grew strongly by 91.8% year-over-year, with TrinScreen HIV sales reaching $10.0 million for the year. However, clinical laboratory revenues decreased by 7.6% to $44.1 million, impacted by lower autoimmune lab services and infectious diseases product revenues.
The company reported a net loss of $17.0 million for Q4 2024, an increase from $5.5 million in Q4 2023, primarily due to $4.7 million in restructuring, impairment, and one-off costs. For the full year 2024, the total loss was $31.8 million, compared to $24.0 million in 2023, influenced by a $12.7 million gain on divestiture in the prior year. Gross margin for Q4 2024 was 30.8%, down from 34.0% in Q4 2023, while the full-year gross margin improved slightly to 34.8% from 34.2% in 2023.
In a related development, on May 14, 2025, Trinity Biotech entered into a further amended credit agreement with Perceptive Advisors, providing approximately $4.5 million in additional liquidity through cash and payment-in-kind interest. This agreement also extended the loan's maturity date by six months to July 27, 2026. This additional funding is intended to support the company's transformation plan and the continued development of its innovative CGM technology.
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