The following is a summary of the Trinity Biotech Plc (TRIB) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Trinity Biotech saw nearly 40% quarter-on-quarter growth in Point-of-Care revenues largely attributed to the success of the TrinScreen HIV screening test.

• Q1 2024 revenues amounted to $14.7 million, a slight decrease from Q1 2023 due to the loss of transplant testing activity at the Buffalo lab.

• The gross margin improved to 37.6% in light of cost-saving initiatives and is expected to increase with the scaling of production.

• Opex reduced with an operating loss of $3 million, an improvement from the Q1 2023 loss of $3.9 million.

Business Progress:

• Trinity Biotech has been executing key strategic initiatives, such as acquiring new glucose monitoring technology with a view to growth in 2024 and 2025.

• It applied for ethical approval to initiate a pre-pivotal clinical trial and plans on entering pivotal clinical trials by summer 2025, with EU regulatory approval scheduled for the end of that year.

• The company signed a strategic collaboration with software companies like PulseAI, launched a new CGM microsite, and appointed Avinash Kale as the director for the CGM program.

• Trinity Biotech is also making moves to negotiate better pricing from suppliers for raw materials.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.