In This Article:
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Revenue: $15.2 million for Q3 2024, a 3% increase from Q3 2023.
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Point of Care Revenue: Increased by $2.7 million to $4.3 million, a 60% increase compared to Q3 2023.
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TrinScreen Sales: Approximately $2.4 million in Q3 2024, with full-year guidance of $10 million for 2024.
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Clinical Laboratory Revenues: $10.8 million, a 9% decrease from Q3 2023.
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Gross Profit: $5.3 million, representing a gross margin of 35%.
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Operating Loss: $2.6 million in Q3 2024, compared to $4.5 million in Q3 2023.
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Net Loss: $4.8 million in Q3 2024, compared to $6.7 million in Q3 2023.
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Adjusted EBITDASO: $1.4 million loss, compared to $3.5 million loss in Q3 2023.
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Basic Loss per ADS: $0.46 compared to $0.88 in Q3 2023.
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Cash Balance: Decreased from $5.3 million at June 30 to $2.8 million at the end of September.
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Cash Used by Operations: $3.6 million in Q3 2024, an improvement of $1 million compared to Q3 2023.
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Cash Inflow from Financing Activities: $4.2 million in Q3 2024.
Release Date: November 15, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Trinity Biotech PLC (NASDAQ:TRIB) reported a 3% year-on-year revenue growth, driven by TrinScreen HIV revenues.
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The company is making significant progress in the development of its next-generation continuous glucose monitor (CGM) for diabetes management, targeting a rapidly growing market.
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Trinity Biotech PLC (NASDAQ:TRIB) has successfully addressed NASDAQ listing deficiencies, removing an important overhang from its stock.
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The company is executing a comprehensive transformation plan aimed at enhancing profitability and operational efficiency.
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Trinity Biotech PLC (NASDAQ:TRIB) has made strategic acquisitions in innovative prostate cancer and preeclampsia test technologies, expanding its product pipeline.
Negative Points
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TrinScreen HIV revenues were lower in Q3 compared to Q2 due to different ordering patterns, although higher revenues are expected in Q4.
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Hemoglobin revenues from A1c testing products were lower than the previous year due to uneven ordering patterns.
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The company reported an operating loss of $2.6 million in the quarter, although this was an improvement from the previous year's loss.
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Trinity Biotech PLC (NASDAQ:TRIB) experienced a decrease in cash balance from $5.3 million to $2.8 million by the end of September.
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The commercialization timeline for newly acquired lab-based technologies, such as the preeclampsia and prostate cancer tests, extends into 2025 and 2026, delaying potential revenue generation.