Trinity Biotech (NASDAQ:TRIB) shares are in focus after the diagnostics specialist reported a return to positive adjusted EBITDA and secured a major 9 million-unit order for its flagship HIV screening product.
The order for the WHO-prequalified TrinScreen HIV rapid test marks a significant volume win for the Dublin-based company, with fulfillment slated for the current quarter and the first quarter of 2026.
The 9 million-unit commitment follows a period of stabilization in global health funding and reflects the success of Trinity’s shift toward high-volume, cost-effective manufacturing.
The company recently received critical World Health Organization (WHO) approval for its outsourced manufacturing model, a move designed to lower production costs and improve scalability as it targets large-scale screening programs in emerging markets.
Financial results for the third quarter of 2025 underscore the turnaround.
Revenue climbed to $14.3 million, a 32% increase over the second quarter, driven by a $2.1 million surge in rapid HIV test sales and a strong performance in its hemoglobin product line.
Improved operational efficiency pushed gross margins to 45.2%, helping the company achieve an adjusted EBITDA of $0.5 million—a sharp reversal from the $2.1 million loss reported in the prior period.
The recovery is a central pillar of Trinity's "Comprehensive Transformation Plan," which emphasizes offshoring upstream manufacturing and consolidating corporate services to drive sustainable profitability.
Management indicated that they expect further margin expansion and EBITDA growth through the first half of 2026 as these structural changes take full effect.
In a concurrent leadership update, the company announced the promotion of Paul Murphy, formerly Head of Group Reporting, to Interim Chief Financial Officer.
Murphy succeeds Susan O’Connor, who completed her interim term as the company continues to stabilize its executive ranks amid its financial pivot.