Trinity Biotech (TRIB) has released an update.
Trinity Biotech has announced its first quarter financial results for 2024, showcasing a strong performance with a 39% growth in Point-of-Care revenues, primarily driven by the rollout of its HIV test production. The company has made significant operational improvements, leading to a 3.6 percentage point increase in gross margin percentage and is on track to achieve a $20 million annualized EBITDASO on revenues of about $75 million by Q2 2025. Trinity Biotech remains focused on executing its Comprehensive Transformation Plan, expecting further advancements in profitability and gross margins throughout 2024 and into early 2025.
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