Trinity Biotech PLC (TRIB) Q3 2024 Earnings Call Highlights: Revenue Growth and Strategic ...

GuruFocus.com11-16

Revenue: $15.2 million for Q3 2024, a 3% increase from Q3 2023. Point of Care Revenue: Increased by $2.7 million to $4.3 million, a 60% increase compared to Q3 2023. TrinScreen Sales: Approximately $...

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GuruFocus has detected 6 Warning Signs with TRIB.\n\nRelease Date: November 15, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nTrinity Biotech PLC (NASDAQ:TRIB) reported a 3% year-on-year revenue growth, driven by TrinScreen HIV revenues.\nThe company is making significant progress in the development of its next-generation continuous glucose monitor (CGM) for diabetes management, targeting a rapidly growing market.\nTrinity Biotech PLC (NASDAQ:TRIB) has successfully addressed NASDAQ listing deficiencies, removing an important overhang from its stock.\nThe company is executing a comprehensive transformation plan aimed at enhancing profitability and operational efficiency.\nTrinity Biotech PLC (NASDAQ:TRIB) has made strategic acquisitions in innovative prostate cancer and preeclampsia test technologies, expanding its product pipeline.\n\n Negative Points \n\nTrinScreen HIV revenues were lower in Q3 compared to Q2 due to different ordering patterns, although higher revenues are expected in Q4.\nHemoglobin revenues from A1c testing products were lower than the previous year due to uneven ordering patterns.\nThe company reported an operating loss of $2.6 million in the quarter, although this was an improvement from the previous year's loss.\nTrinity Biotech PLC (NASDAQ:TRIB) experienced a decrease in cash balance from $5.3 million to $2.8 million by the end of September.\nThe 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.\n\n Q & A Highlights \nQ: You mentioned expecting TrinScreen sales around $10 million for the year. Does this mean you're looking for over $3 million in revenue from TrinScreen in Q4? A: Yes, that's correct. We anticipate about $3 million in TrinScreen revenue for Q4. The variation in quarterly revenue is due to the large order sizes typical in the HIV rapid test market, which can fluctuate quarter-on-quarter.\nQ: Premier instrument sales were lower this quarter. Do you expect this business to recover in Q4 or 2025? A: The core revenue for consumables remains consistent. The reduction was mainly due to fewer instrument placements as we transition to a new column proposition, which offers better value. We expect instrument sales to pick up once the new supply chain changes are fully implemented.\nQ: Are the cost reduction initiatives expected to be completed by the end of Q1 2025? A: Yes, most changes are expected to be completed by the end of Q4 2024 or early 2025. This will lead to a significant improvement in profitability and cash flow, with benefits expected to build throughout 2025.\nQ: What is the timeline for commercializing the PSA and preeclampsia tests? Will they be available throughout the US? A: The preeclampsia test is expected to generate revenue in the second half of 2025, initially as a lab-developed test available across the US. The prostate cancer test is expected to generate revenue in 2026, with further development needed to enhance its value.\nQ: What are the biggest initiatives driving the expected sales increase and EBITDASO turnaround by Q2 2025? A: The main contributors are the consolidation of manufacturing sites and offshoring less complex operations, which will significantly reduce overhead costs. Additionally, the offshoring of corporate services will enhance efficiency and agility, particularly as we expand our CGM product.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483495567"}