Trinity Biotech plc announced a new 9‑million‑unit order for its flagship TrinScreen HIV rapid test, a contract that will be delivered in the fourth quarter of 2025 and the first quarter of 2026. The order, placed by a global health partner whose identity has not yet been disclosed, represents the largest single order the company has secured since launching its Comprehensive Transformation Plan.
The order is expected to lift revenue by roughly $3.6 million in the first quarter of 2026, while the company’s Q3 2025 results showed a positive adjusted EBITDA of $0.5 million—half the figure previously reported. Compared with Q2 2025, when adjusted EBITDA was negative $2.1 million, the turnaround is clear. Revenue for Q3 2025 rose 32% sequentially to $14.3 million, driven by a $2.1 million increase in rapid HIV test sales and a $5.7 million rise in hemoglobin products. Gross margin improved to 45.2% from 42.6% in Q2 2025, reflecting a favorable product mix and cost efficiencies.
Trinity’s ability to meet the new order hinges on a WHO‑approved outsourced manufacturing arrangement that was finalized in November 2025. The approval extends to the production of TrinScreen HIV, allowing the company to scale output without the capital expense of building new facilities. This milestone is a key lever in the company’s transformation strategy, which also includes diversification into diabetes and oncology diagnostics and a focus on high‑margin product lines.
Management highlighted that the order signals a broader recovery in the global HIV testing market, which had been dampened by shifts in international aid funding. CEO John Gillard praised the contract as evidence of the product’s quality and the company’s growing reputation among global health agencies. CFO Paul Murphy noted that the order will provide a steady revenue stream that supports the company’s cash‑flow goals and underpins the next phase of the transformation plan.
Investors reacted positively to the news, with the market rallying in pre‑market trading. The rally was driven by the sizable order and the return to positive adjusted EBITDA, both of which reinforce confidence in Trinity’s operational turnaround and future growth prospects.
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