TRINITY BIOTECH PLC

Trinity Biotech plc announced the launch of Trinovium, a new subsidiary dedicated to advanced liquid cooling solutions and fluid intelligence systems for AI data centers. Trinovium will leverage Trinity's existing expertise in ultra-high-purity fluid manufacturing, analytical technologies, and large-scale production capabilities. This move targets the rapidly growing data center liquid cooling market, projected to expand from $4 billion in 2026 to $27 billion by 2033, driven by increasing AI compute density. The initiative aims to provide a capital-efficient path into this market and create potential for additional operating leverage from existing assets.

Trinity Biotech announced it has been awarded significant orders for over 2 million TrinScreen HIV tests, reinforcing strong demand and supporting 2026 revenue and profitability targets. Concurrently, the company reported its Q1 2026 financial results, with revenues increasing 43% to $10.8 million, driven by strong rapid HIV and haemoglobin product sales. The company also achieved substantial year-on-year gross margin percentage improvements and significantly reduced its net loss and negative Adjusted EBITDA, reflecting progress in its Comprehensive Transformation Plan.

Trinity Biotech reported Q1 2026 revenues of $10.8 million, a 43% increase year-over-year, with gross margin improving significantly to 35.4% from 25.2%. The company also received additional purchase orders for over 2 million units of its TrinScreen™ HIV rapid test, scheduled for Q3 2026 fulfillment, which are expected to contribute meaningfully to 2026 revenue and profitability. These developments are supported by the ongoing execution of its Comprehensive Transformation Plan, including outsourced manufacturing, which is anticipated to further enhance financial performance.

Trinity Biotech PLC has entered into a new At-the-Market (ATM) offering agreement with Lucid Capital Markets, LLC, enabling the company to sell up to $4,352,314 of its American Depositary Shares (ADSs). Lucid will act as the sales agent and receive a 3.0% commission on gross sales. Concurrently, the company terminated its previous ATM program with Craig-Hallum Capital Group LLC, which had been inactive since March 2025.

Trinity Biotech PLC has reached an agreement with its lender, Perceptive Credit Holdings III, LP, to capitalize the interest payable for May 2026. This interest will be added to the outstanding principal balance of the credit agreement. Additionally, Perceptive has provided a limited waiver concerning Section 8.15 of the credit agreement for June 2026.

Trinity Biotech PLC filed a Post-Effective Amendment No. 1 to its F-1 Registration Statement, registering up to 33,752,429 American Depositary Shares (ADSs) for resale by YA II PN, LTD., the Selling Securityholder. This action is pursuant to a Standby Equity Purchase Agreement allowing the company to sell up to $25 million in ADSs to the investor. While Trinity Biotech will not receive proceeds from the Selling Securityholder's resale, it may receive up to $25 million from direct sales to the investor, intended for operating expenses, working capital, and general corporate purposes. The filing also updates information to reflect fiscal year ended December 31, 2025 results and a recent debt amendment.

Trinity Biotech appointed Jerry Lydon as Head of North America Commercial Operations to strengthen execution and drive profitability, aligning with its Comprehensive Transformation Plan. The company reported Q4 2025 revenues of $11.1 million, a decrease from $15.9 million in Q4 2024, primarily due to disruptions in HIV testing markets and supply chain adjustments. Despite lower sales, gross margin improved by over 400 basis points to 35.2%. For the full year 2025, revenues were $43.8 million, down from $61.6 million in 2024, but gross margin increased to 38.6%.

Trinity Biotech plc announced the appointment of Jerry Lydon as Head of North America Commercial Operations, a strategic move to drive revenue and profitability following its Comprehensive Transformation Plan. The company reported Q4 2025 revenues of $11.1 million, broadly in line with guidance, and an improved gross margin of 35.2%. For the full year 2025, revenues were $43.8 million, with gross margin increasing to 38.6%, reflecting benefits from the ongoing transformation efforts despite overall revenue declines.