Trinity Biotech wins 2m TrinScreen HIV order; Q1 revenue up 43%
Trinity Biotech has received purchase orders totalling more than 2 million units of its TrinScreen HIV rapid diagnostic test, with fulfilment scheduled for the third quarter of 2026. The Dublin-headquartered, NASDAQ-listed company said the orders are expected to make a meaningful contribution to its 2026 revenue and profitability objectives, and that they signal a recovery in global HIV diagnostics demand following disruptions caused by shifts in international aid funding structures in 2025.
The announcement came alongside Q1 2026 financial results that showed revenue of $10.8 million, up 43% from $7.6 million in Q1 2025. Rapid HIV product sales drove much of that growth, with TrinScreen HIV contributing $2.3 million compared to just $0.4 million in the prior-year period. Haemoglobin product sales also rose, from $2.3 million to $3.3 million. Gross margin expanded sharply, from 25.2% to 35.4%, and gross profit doubled to $3.8 million. The net loss narrowed to $4.4 million from $8.8 million, while adjusted EBITDA improved to negative $1.1 million from negative $4.0 million a year earlier.
Transformation plan bearing fruit
The margin improvement reflects progress under Trinity Biotech's Comprehensive Transformation Plan, which has shifted manufacturing for TrinScreen HIV to an offshored and outsourced model. The company said that commercial scale-up of outsourced upstream production of its second HIV rapid test, UniGold HIV, following regulatory approvals received earlier in 2026, is expected to be substantially in place by Q3 2026. Trinity Biotech said this final component of the transformation plan should deliver further improvements in gross margin, EBITDA and cash flow generation once fully operational.
Chief executive John Gillard said: "Recent outbreaks of Ebola and Hantavirus serve as an important reminder of the ongoing public health risks posed by infectious diseases. Against this backdrop, these additional orders for TrinScreen HIV represent a further welcome indication of renewed focus on HIV disease management."
Beyond HIV diagnostics, the company continues development of its continuous glucose monitoring product, CGM+, acquired through the purchase of biosensor assets from Waveform Technologies. That programme, along with other innovation initiatives, underpins what Trinity Biotech describes as its longer-term growth ambitions beyond its core diagnostics portfolio.
Market context
The recovery in TrinScreen orders reflects a broader dynamic in global health diagnostics. Demand for rapid HIV tests in high-prevalence markets was notably disrupted in 2025 as changes to US government aid funding flows created uncertainty among procurers and distributors. TrinScreen HIV holds WHO prequalification, which is a prerequisite for supply into many low- and middle-income country programmes and a meaningful commercial differentiator in tender-driven markets.
The global rapid HIV diagnostics market is served by a number of established players, including Abbott, OraSure Technologies and bioMérieux, as well as smaller regional manufacturers. For a company of Trinity Biotech's scale, WHO prequalification and an outsourced manufacturing model that can flex to meet bulk procurement orders represent a defensible competitive position in the global health channel, even if that channel remains subject to the funding volatility the company experienced in 2025. Investors will watch Q3 delivery execution and any further order announcements as indicators of how durable the current demand recovery proves to be.