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Trinity Biotech Plc (TRIB)
NASDAQ:TRIB
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Trinity Biotech
(NASDAQ:TRIB)
35Underperform
Trinity Biotech (TRIB) vs. S&P 500 (SPY)
Market Cap
$7.29M
Dividend YieldN/A
Average Volume (3M)70.61K
Price to Earnings (P/E)―
Beta (1Y)0.49
Revenue Growth-3.76%
EPS Growth39.52%
CountryUS
Employees380
SectorHealthcare
Sector Strength72
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-2.26
Shares Outstanding18,053,679
10 Day Avg. Volume40,556
30 Day Avg. Volume70,613
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.12
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Trinity Biotech Business Overview & Revenue Model
Company DescriptionTrinity Biotech plc acquires, develops, manufactures, and markets medical diagnostic products for the clinical laboratory and point-of-care (POC) segments of the diagnostic market in the Americas, Africa, Asia, and Europe. The company offers clinical laboratory products, including diagnostic tests and instrumentation, which detect infectious diseases, such as lyme disease; sexually transmitted diseases consisting syphilis and herpes; SARS-CoV-2; and epstein barr, measles, mumps, toxoplasmosis, cytomegalovirus, rubella, varicella and other viral pathogens, as well as products for the in-vitro diagnostic testing for haemoglobin A1c used in the monitoring and diagnosis of diabetes, and identifying those who are at a risk of developing diabetes. It also develops, manufactures, and sells products in the immunofluorescence assay, enzyme-linked immunosorbent, western blot, and line immunoassay formats; and provides reagent products, such as ACE, bile acids, lactate, oxalate, and glucose-6-phosphate dehydrogenase for diagnosis of liver and kidney diseases, as well as haemolytic anaemia. In addition, the company sells raw materials to the life sciences industry and research institutes. It serves public health authorities, non-governmental organisations, and clinical and reference laboratories through its direct sales force, as well as through a network of independent distributors and strategic partners. Trinity Biotech plc was incorporated in 1992 and is headquartered in Bray, Ireland.
How the Company Makes MoneyTrinity Biotech generates revenue primarily through the sale of its diagnostic products. The company's key revenue streams include the sale of diagnostic tests for infectious diseases, such as HIV and hepatitis, as well as autoimmune disorders and other clinical conditions. Trinity Biotech also earns income from its point-of-care testing solutions, which are designed for use outside of traditional laboratory settings. Additionally, the company may benefit from partnerships and collaborations with other healthcare organizations, research institutions, and government bodies, which can contribute to its earnings through joint ventures, research grants, and technology licensing agreements. Trinity Biotech's focus on innovation and product development helps maintain its competitive edge and drives revenue growth in the dynamic diagnostics market.
Trinity Biotech Financial Statement Overview
Summary
Trinity Biotech is experiencing significant financial challenges with declining revenue and profitability. The company shows negative EBIT and net income margins, high leverage, and negative equity, indicating financial instability and cash flow management issues.Income Statement
Trinity Biotech is facing significant challenges with declining revenue and profitability. The TTM (Trailing-Twelve-Months) figures show a decrease in total revenue from previous years, coupled with negative EBIT and net income margins indicating operating losses. The gross profit margin has also shrunk, reflecting rising costs or declining sales efficiency.30
Negative
Balance Sheet
The balance sheet shows high leverage with a negative equity position, indicating financial instability. The debt-to-equity ratio is unfavorable, and the negative stockholders' equity suggests that liabilities exceed assets, posing a risk to the company's financial health. Return on equity is not calculable due to negative equity.20
Very Negative
Cash Flow
The cash flow statement highlights negative operating cash flow and free cash flow, signaling cash management issues. The company's financing activities are the primary source of liquidity, which may not be sustainable long-term. The free cash flow to net income ratio is not favorable, reflecting inefficiency in cash generation relative to earnings.25
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 59.13M | 56.83M | 74.78M | 92.97M | 101.98M | 90.44M | Gross Profit |
| 20.14M | 19.45M | 22.05M | 38.08M | 48.58M | 38.12M | EBIT |
| -13.17M | -27.05M | -10.91M | 13.15M | 19.11M | 872.00K | EBITDA |
| -10.33M | -24.10M | -16.71M | 10.59M | 21.52M | -19.52M | Net Income Common Stockholders |
| -20.34M | -24.02M | -41.00M | 875.00K | -6.01M | -4.07M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 6.22M | 3.69M | 6.58M | 25.91M | 27.33M | 16.40M | Total Assets |
| 132.26M | 59.44M | 92.10M | 118.89M | 130.40M | 131.07M | Total Debt |
| 29.88M | 67.43M | 58.26M | 99.16M | 104.34M | 82.03M | Net Debt |
| 23.65M | 63.74M | 51.68M | 73.25M | 77.01M | 65.63M | Total Liabilities |
| 50.31M | 83.38M | 94.28M | 119.21M | 132.62M | 126.36M | Stockholders Equity |
| 81.96M | -23.95M | -2.18M | -319.00K | -2.22M | 4.71M |
| Cash Flow | Free Cash Flow | ||||
| -18.73M | -14.26M | -6.90M | 4.55M | 13.56M | -9.88M | Operating Cash Flow |
| -12.49M | -11.56M | -921.00K | 13.24M | 23.75M | 5.47M | Investing Cash Flow |
| -21.12M | 24.76M | -5.98M | -8.69M | -10.20M | -15.36M | Financing Cash Flow |
| 30.43M | -16.04M | -12.32M | -6.02M | -2.72M | -4.00M |
Trinity Biotech Technical Analysis
Negative
0.57
Price Trends
0.77
Negative
0.92
Negative
1.52
Negative
Market Momentum
-0.04
Positive
34.35
Neutral
4.60
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TRIB, the sentiment is Negative. The current price of 0.57 is below the 20-day moving average (MA) of 0.67, below the 50-day MA of 0.77, and below the 200-day MA of 1.52, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 34.35 is Neutral, neither overbought nor oversold. The STOCH value of 4.60 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TRIB.
Trinity Biotech Risk Analysis
Trinity Biotech disclosed 50 risk factors in its most recent earnings report. Trinity Biotech reported the most risks in the “Legal & Regulatory” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Trinity Biotech Peers Comparison
Overall Rating
UnderperformOutperform
Sector (48)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $18.57B | 21.83 | 13.24% | 1.79% | 6.70% | 2.56% | |
73 Outperform | $34.03B | 39.37 | 57.66% | ― | 6.46% | 5.82% | |
52 Neutral | $252.08M | 25.27 | -4.64% | ― | -54.17% | -135.78% | |
49 Neutral | $6.81B | ― | -24.09% | ― | -3.92% | -202.80% | |
48 Neutral | $6.84B | 1.02 | -53.11% | 2.50% | 16.84% | 0.92% | |
46 Neutral | $2.36B | ― | -50.74% | ― | -7.03% | -20233.78% | |
35 Underperform | $7.29M | ― | 77.20% | ― | -3.76% | 39.52% |
* Healthcare Sector Average
Performance Comparison
TRIB
Trinity Biotech
0.57
-1.39
-70.92%
BIO
Bio-Rad Laboratories
243.56
-85.16
-25.91%
IDXX
Idexx Laboratories
419.95
-101.72
-19.50%
OSUR
Orasure Technologies
3.37
-2.64
-43.93%
DGX
Quest Diagnostics
169.28
39.73
30.67%
QDEL
QuidelOrtho
34.11
-8.04
-19.07%
Trinity Biotech Earnings Call Summary
Earnings Call Date: Nov 15, 2024 | % Change Since: -61.49% | Next Earnings Date: Apr 2, 2025
Earnings Call Sentiment Neutral
The earnings call reflected a company in transition, with significant improvements in revenue growth and cost reduction measures. However, challenges remain, particularly in the hemoglobin segment and overall net loss, indicating a mixed outlook.Highlights
Revenue Growth in Q3 2024
The company's revenues for Q3 2024 were $15.2 million, representing a 3% increase compared to Q3 2023. This growth was primarily driven by a 60% increase in point-of-care revenue.
TrinScreen HIV Sales Projection
Trinity Biotech reiterated its guidance for TrinScreen sales of approximately $10 million for the full year 2024, reflecting strong market demand.
Reduction in Operating Loss
The operating loss before restructuring and impairment charges decreased to $2.2 million from $4.5 million in Q3 2023, marking a 51% improvement.
NASDAQ Listing Compliance Achieved
The company successfully addressed NASDAQ listing deficiencies, removing an important overhang on its stock.
Cost Reduction Initiatives
SG&A expenses decreased by $1.2 million to $6.5 million in Q3 2024, showcasing effective cost reduction measures.
Lowlights
Hemoglobin Revenue Decline
Hemoglobin revenues from A1c testing products were lower in Q3 2024 compared to Q3 2023, due to uneven ordering patterns and decreased instrument sales.
Clinical Laboratory Revenue Decrease
Clinical laboratory revenues decreased by 9% compared to Q3 2023, offset by a revenue decrease in the hemoglobin business, which was 70% lower year-over-year.
Net Loss for Q3 2024
The net loss post-tax and interest was $4.8 million in Q3 2024, compared to a $6.7 million loss in the same quarter last year.
Cash Balance Decrease
The cash balance decreased from $5.3 million at June 30 to $2.8 million at the end of September 2024, with cash used by operations of $3.6 million.
Company Guidance
During Trinity Biotech's Q3 2024 earnings call, the company reiterated its guidance for 2024, projecting TrinScreen HIV sales revenue of approximately $10 million and annualized run rate revenues of around $75 million by Q2 2025. The company reported a 3% year-on-year revenue growth, reaching $15.2 million for Q3 2024, primarily driven by a 60% increase in point-of-care revenues due to TrinScreen sales. Operating loss improved by 51% to $2.2 million before restructuring and impairment charges. The company aims to achieve approximately $20 million of annualized run rate EBITDASO by Q2 2025 through comprehensive transformation initiatives, including cost reductions and operational efficiencies.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.