Trinity Biotech PLC (TRIB) News

$ (3,344)

$ (6,277)

(1,939)

(446)

(10,815)

Loss for the period on continuing operations

(5,729)

(17,092)

Unallocated Expenses

^[1]

(1,364)

(1,679)

Operating loss

(7,093)

(18,771)

Net financing expense

(3,045)

(6,158)

Loss before tax

(10,138)

(24,929)

Income tax credit

278

(10,074)

(24,651)

Profit for the period from discontinued operations

12,854

Loss for the nine-month period

(10,074)

(11,797)

Americas [Member]

Disclosure of disaggregation of revenue from contracts with customers [line items]

(1,050)

(3,129)

(1,303)

(446)

(10,815)

Disclosure of disaggregation of revenue from contracts with customers [line items]

(2,799)

(13,944)

Ireland [Member]

(2,268)

(3,140)

(636)

Disclosure of disaggregation of revenue from contracts with customers [line items]

(2,904)

(3,140)

Other Countries [Member]

(26)

(8)

Class A Ordinary shares [Member]

$ (26)

$ (8)

[1]	Unallocated expenses represent head office general and administration costs of the Group, which cannot be allocated to the results of any specific geographical area.

SEGMENT INFORMATION (Schedule of Segment Assets and Segment Liabilities by Geographical Area) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Assets and liabilities
Segment assets	$ 86,392	$ 52,253
Unallocated assets:
Income tax assets (current and deferred)	2,646	3,491
Cash and cash equivalents and short-term investments	5,317	3,691	$ 14,228	$ 6,578
Total assets as reported in the Statement of Financial Position	94,355	59,435
Segment liabilities	119,687	80,805
Unallocated liabilities:
Income tax liabilities (current and deferred)	4,068	2,579
Total liabilities as reported in the Statement of Financial Position	123,755	83,384
Americas [Member]
Assets and liabilities
Segment assets	31,018	26,230
Unallocated assets:
Segment liabilities	78,328	49,398
Ireland [Member]
Assets and liabilities
Segment assets	55,374	26,023
Unallocated assets:
Segment liabilities	41,339	31,387
Other Countries [Member]
Assets and liabilities
Segment assets	0	0
Unallocated assets:
Segment liabilities	$ 19	$ 20

FINANCIAL INCOME AND EXPENSES (Schedule of Financial Income (Expenses), Net) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Financing Income Abstract
Non-cash financial income	$ 55	$ 216
Financial income	55	216
Financial expense:
Interest on leases	(297)	(322)
Penalty for early repayment of senior secured term loan	0	(905)
Cash interest on convertible & exchangeable notes	(154)	(154)
Cash interest on senior secured term loan	(4,545)	(3,781)
Accretion interest on convertible & exchangeable notes	(422)	(391)
Accretion on senior secured term loan	(1,068)	(813)
Accretion interest on contingent liability	(24)	0
Fair value adjustments of derivative financial instruments	(980)	(8)
Capitalization of borrowing costs	824	0
EIR catch up adjustment	3,566	0
Financial expense	3,100	6,374
Net Financing Expense	$ (3,045)	$ (6,158)

IMPAIRMENT CHARGES (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disclosure Of Impairment Charges And Inventory Provisioning [Abstract]
Impairment loss	$ 446	$ 10,815

IMPAIRMENT CHARGES (Schedule of Statement of Operation) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Selling, General & Administration Expenses Abstract
Impairment of PP&E	$ 446	$ 3,492
Impairment of goodwill and other intangible assets	0	5,823
Impairment of financial assets	0	1,500
Total impairment loss	$ 446	$ 10,815

DISCONTINUED OPERATIONS (Narrative) (Details) - USD ($)	1 Months Ended	6 Months Ended
DISCONTINUED OPERATIONS (Narrative) (Details) - USD ($)	Apr. 30, 2023	Jun. 30, 2024
Disclosure of classes of share capital [line items]
Proceeds of sale to repayments		$ 11,000,000
Proceeds from senior secured debt		10,100,000
Amount of repayment penalty		$ 905,000
Biosynth [Member]
Disclosure of classes of share capital [line items]
Cash Proceeds from discontinued operations	$ 30,000,000

DISCONTINUED OPERATIONS (Schedule of Revenue Covenants Under that Loan) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
loss on re-measurement re-measurement of assets and liabilities:
Revenues	$ 30,547	$ 28,727
Finance costs	3,100	6,374
Profit before tax from discontinued operations	(10,138)	(24,929)
Tax expense:
Profit after tax for the period from discontinued operations	0	12,854
Senior Secured Term Loan Credit Facility [Member] \| Discontinued Operations [Member]
loss on re-measurement re-measurement of assets and liabilities:
Revenues	0	2,784
Expenses	0	(2,648)
Operating income	0	136
Profit before tax from discontinued operations	0	136
Tax expense:
Related to current pre-tax profit/(loss)	0	0
Gain on sale of the discontinued operations	0	12,718
Profit after tax for the period from discontinued operations	0	12,854
The net cashflows generated from the sale of Fitzgerald Industries International Inc are, as follows:
Cash received from sale of the discontinued operations net of transaction costs	0	29,201
Cash sold as a part of discontinued operations	0	(775)
Net cash inflow on date of disposal	$ 0	$ 28,426

GOODWILL AND INTANGIBLE ASSETS (Narrative) (Details)	6 Months Ended
GOODWILL AND INTANGIBLE ASSETS (Narrative) (Details)	Jun. 30, 2024 USD ($)
Disclosure Of Goodwill And Intangible Assets [Abstract]
Decrease in gross intangible assets	$ 26,280,000

GOODWILL AND INTANGIBLE ASSETS (Schedule of Goodwill and Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Disclosure of detailed information about intangible assets [line items]
Goodwill and intangible assets	$ 41,786	$ 16,270
Cost [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill and intangible assets	248,165	221,906
Accumulated amortization and impairment [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill and intangible assets	(206,379)	(205,636)
Carrying amounts [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill and intangible assets	41,786	16,270
Goodwill [Member] \| Cost [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill and intangible assets	78,716	66,645
Development cost [Member] \| Cost [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill and intangible assets	140,811	127,365
Patents and licences [Member] \| Cost [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill and intangible assets	8,694	8,694
Other [Member] \| Cost [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill and intangible assets	$ 19,944	$ 19,202

LOSS PER SHARE (Narrative) (Details) $ in Thousands, shares in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($) shares	Jan. 31, 2024 shares
Disclosure of classes of share capital [line items]
Loss for the period (all attributable to owners of the parent) \| $	$ (10,074)	$ (11,797)
Number of ordinary shares used in calculating basic earnings per share	183,376,218	152,885,033
Class A Ordinary shares [Member]
Disclosure of classes of share capital [line items]
Loss for the period (all attributable to owners of the parent) \| $	$ 10,074	$ 11,797
Number of ordinary shares used in calculating basic earnings per share	183,376,218	152,885,033
Class A Ordinary shares [Member] \| Waveform Technologies, Inc. [Member]
Disclosure of classes of share capital [line items]
Number of shares issued for acquisition			36

LOSS PER SHARE (Schedule of basic loss per ordinary share) (Details) - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Earnings per share [line items]
Basic (loss)/earnings per share denominator	183,376,218	152,885,033
Reconciliation to weighted average (loss)/earnings per share denominator:
Basic (loss)/earnings per share denominator	183,376,218	152,885,033
Class A Ordinary shares [Member]
Earnings per share [line items]
Basic (loss)/earnings per share denominator	183,376,218	152,885,033
Reconciliation to weighted average (loss)/earnings per share denominator:
Number of shares at January 1	165,865,884	164,985,882
Weighted average number of shares issued during the year	30,065,934	454,751
Weighted average number of treasury shares	(12,555,600)	(12,555,600)
Basic (loss)/earnings per share denominator	183,376,218	152,885,033

LOSS PER SHARE (Schedule of Diluted Loss Per Ordinary Share) (Details) - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Weighted average ordinary shares used in calculating basic and diluted earnings per share [abstract]
Basic EPS Denominator	183,376,218	152,885,033
Class A Ordinary shares [Member]
Weighted average ordinary shares used in calculating basic and diluted earnings per share [abstract]
Basic EPS Denominator	183,376,218	152,885,033
Issuable on conversion of Exchangeable notes	38,391	38,391
Issuable on conversion of Convertible notes	24,691,358	24,691,358
Issuable on exercise of options	0	515,678
Issuable on exercise of warrants	0	0
Basic (loss)/earnings per share denominator	208,105,967	178,130,460

INVENTORIES (Narrative) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Classes of current inventories [abstract]
Inventories net of provisions	$ 10,531,000	$ 11,344,000

INVENTORIES (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Classes of current inventories [abstract]
Raw materials and consumables	$ 12,051	$ 10,053
Work-in-progress	5,287	4,498
Finished goods	5,618	5,382
Total inventories	$ 22,956	$ 19,933

SHARE OPTIONS AND SHARE WARRANTS (Narrative) (Details) $ / shares in Units, $ in Thousands	1 Months Ended	6 Months Ended
	Jan. 31, 2024 $ / shares shares	Jun. 30, 2024 USD ($) shares $ / shares shares	Jun. 30, 2023 USD ($) shares	Dec. 31, 2023 shares	Dec. 31, 2022 shares
Disclosure of classes of share capital [line items]
Share-based payments \| $		$ 926	$ 2,339
Share option [Member]
Disclosure of classes of share capital [line items]
Share-based payments \| $		$ 926,000	$ 2,339,000
Class A Ordinary shares [Member]
Disclosure of classes of share capital [line items]
Number of Options		59,014,672	46,654,672	46,914,672	44,814,672
Class A Ordinary shares [Member] \| Share option [Member]
Disclosure of classes of share capital [line items]
Number of Options		12,100,000
Contingently issuable shares		6,250,000
Class A Ordinary shares [Member] \| Continuous Glucose Monitoring [Member]
Disclosure of classes of share capital [line items]
Ordinary shares of warrant outstanding		1,200,000
Exercise price of warrants \| $ / shares		$ 0.11
Class A Ordinary shares [Member] \| Term Loan Facility [Member]
Disclosure of classes of share capital [line items]
Ordinary shares of warrant outstanding	10,000,000
Number of warrants issued	1,000,000
Exercise price of warrants \| $ / shares	$ 0.11
American depositary share [Member]
Disclosure of classes of share capital [line items]
Number of Options		2,950,734

SHARE OPTIONS AND SHARE WARRANTS (Schedule of Grants of Share Options and Warrants) (Details) - Class A Ordinary shares [Member]	6 Months Ended
	Jun. 30, 2024 shares $ / shares	Jun. 30, 2023 shares $ / shares
Options And Warrants [Abstract]
Outstanding Beginning Balance \| shares	46,914,672	44,814,672
Granted \| shares	12,100,000	3,000,000
Exercised \| shares	0	(880,000)
Forfeited \| shares	0	(280,000)
Outstanding at end of year \| shares	59,014,672	46,654,672
Exercisable at end of year \| shares	24,029,255	16,961,339
Weighted Average exercise price
Outstanding Beginning Balance	$ 0.39	$ 0.47
Granted	0.14	0.25
Exercised	0	0.19
Forfeited	0	2.43
Outstanding at end of year	0.35	0.45
Exercisable at end of year	0.58	0.29
Bottom of range [member]
Weighted Average exercise price
Outstanding Beginning Balance	0.12	0.19
Granted	0.14	0.25
Exercised		0.19
Forfeited		2.43
Outstanding at end of year	0.12	0.19
Exercisable at end of year	0.12	0.19
Top of range [member]
Weighted Average exercise price
Outstanding Beginning Balance	1.34	2.43
Granted	0.14	0.25
Exercised		0.19
Forfeited		2.43
Outstanding at end of year	1.34	1.74
Exercisable at end of year	$ 1.34	$ 1.74

BORROWINGS (Narrative) (Details) - USD ($)	1 Months Ended			6 Months Ended		12 Months Ended
BORROWINGS (Narrative) (Details) - USD ($)	Jan. 31, 2024	May 31, 2022	May 22, 2022	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about borrowings [line items]
Convertible loan note				$ 14,964,000		$ 14,542,000
Repayment penalty				0	$ (905,000)
Fair value remeasurement for derivative financial balances				900,000
Equity Component Of Convertible Note				$ 6,709,000		6,709,000
Amendment and restatement of term loan [Member]
Disclosure of detailed information about borrowings [line items]
Increase term loan	$ 22,000,000
Outstanding term loan	12,500,000
Remaining amount available for general corporate purposes	9,500,000
Additional liquidity of amended term loan	$ 6,500,000
Percentage of secured overnight financing rate	4.00%
Reduction in base rate of secured overnight financing rate	2.50%
Outstanding principal in base rate of secured overnight financing rate	6.25%
Amended Term Loan	$ 35,000,000
Amendment and restatement of term loan [Member] \| Class A Ordinary shares [Member]
Disclosure of detailed information about borrowings [line items]
Issuance Of Warrants For Additional Ads				10,000,000
Additional Warrants Issued	10,000,000
Repricing Of Existing Warrants For Ads	$ 0.11
Amendment and restatement of term loan [Member] \| American depositary share [Member]
Disclosure of detailed information about borrowings [line items]
Issuance Of Warrants For Additional Ads				500,000
Additional Warrants Issued				500,000
Repricing Of Existing Warrants For Ads				$ 2.2
Amendment and restatement of term loan [Member] \| Minimum [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate	2.50%
Reduction of Amended Term Loan early repayment of penalty	7.00%
Reduction of Amended Term Loan dependent timing of early repayment penalty	3.50%
Amendment and restatement of term loan [Member] \| Maximum [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate	8.75%
Reduction of Amended Term Loan early repayment of penalty	8.00%
Reduction of Amended Term Loan dependent timing of early repayment penalty	4.00%
IFRS 9 [Member]
Disclosure of detailed information about borrowings [line items]
Accretion interest adjustment				$ 400,000
Borrowings, closing carrying value				15,000,000
Convertible loan note				6,700,000
MiCo Ltd [Member]
Disclosure of detailed information about borrowings [line items]
Notional amount		$ 45,200,000
Equity Component Of Convertible Note			$ 25,200,000
MiCo Ltd [Member] \| Unsecured junior convertible note [Member]
Disclosure of detailed information about borrowings [line items]
Principal Amount Loaned			$ 20,000,000
Senior secured term loan [Member] \| Non Current Liabilities [Member]
Disclosure of detailed information about borrowings [line items]
Repayment of term loan				0		10,050,000
Accretion interest				(1,068,000)		(1,131,000)
Fair value of derivative financial asset				193,000
Fair value of derivative financial liability				1,400,000
Remaining amount of loan				65,809,000		40,109,000	$ 44,301,000
Principal Amount Loaned				28,500,000		$ 5,000,000
Exchangeable Senior Notes [Member]
Disclosure of detailed information about borrowings [line items]
Total exchangeable notes percentage							99.70%
Remaining amount of loan				$ 210,000
Convertible Notes [Member] \| MiCo Ltd [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate		1.50%
Convertible notes conversion basis description		The convertible note mandatorily converts into ADSs if the volume weighted average price of the Company’s ADSs is at or above US$16.20 for any five consecutive Nasdaq trading days. For further details on the convertible note, refer to the Company’s Form 6-K filings with the SEC on April 11, 2022.

BORROWINGS (Schedule of Movement in the Term Loan and the 7-year Convertible Notes) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disclosure of fair value measurement of liabilities [line items]
Eir Catch Up Adjustment	$ 3,566	$ 0
Non-current liability [Member] \| Senior secured term loan [Member]
Disclosure of fair value measurement of liabilities [line items]
Balance at January 1	(40,109)	(44,301)	$ (44,301)
Cash drawdown	(28,500)		(5,000)
Loan origination costs	325		194
Derivative financial liability at date of issue	0		90
Derivative financial asset at date of issue	(24)		(11)
Accretion interest	(1,068)		(1,131)
Cash repayment of principal	0		10,050
Eir Catch Up Adjustment	3,567		0
Balance at end of the period	(65,809)		(40,109)
Non-current liability [Member] \| 7-year Convertible Note [Member]
Disclosure of fair value measurement of liabilities [line items]
Balance at January 1	(14,542)	$ (13,746)	(13,746)
Accretion interest	(422)		(796)
Balance at end of the period	$ (14,964)		$ (14,542)

BORROWINGS (Schedule of Movement in the Derivative Financial Asset) (Details) - Non Current Assets [Member] - Derivative Financial Asset [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Disclosure of fair value measurement of liabilities [line items]
Balance at beginning of the period	$ 178
Event driven movement in derivative financial asset	24
Fair value adjustments in the period	(9)
Balance at end of the period	$ 193

BORROWINGS (Schedule of Movement in the Derivative Financial Liability) (Details) - Non-current liability [Member] - Derivative Financial Liability [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Disclosure of fair value measurement of liabilities [line items]
Balance at January 1	$ (526)
Event driven movement in derivative financial liability	0
Fair value adjustments in the period	(918)
Balance at end of the period	$ (1,444)

BORROWINGS (Schedule of Movement in the Exchangeable Notes balance) (Details) - Exchangeable Senior Notes [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Disclosure of fair value measurement of liabilities [line items]
Balance at end of the period	$ (210,000)
Current Liabilities [Member]
Disclosure of fair value measurement of liabilities [line items]
Balance at January 1	(210,000)	$ (210,000)
Balance at end of the period	$ (210,000)	$ (210,000)

SHARE CAPITAL (Narrative) (Details) - shares

6 Months Ended

12 Months Ended

Jun. 30, 2024

Dec. 31, 2023

Disclosure of classes of share capital [line items]

Class A Ordinary shares [Member] | Waveform Technologies, Inc. [Member]

^[1]

880

Disclosure of classes of share capital [line items]

ADS Treasury shares [Member] | Waveform Technologies, Inc. [Member]

36,000,000

Disclosure of classes of share capital [line items]

Class A Ordinary shares [Member]

1,800,000

[1]	During the nine-months ended September 30, 2023, the Company issued 880,000 ‘A’ ordinary shares upon the exercise of employee share options for a consideration of US$0.2 million. The Company incurred expenses of US$11,000 in connection with the issuances.

SHARE CAPITAL (Schedule of Share Capital) (Details) - shares

6 Months Ended

12 Months Ended

Jun. 30, 2024

Dec. 31, 2023

Disclosure of classes of share capital [line items]

In issue at January 1

165,866

164,986

Issued as consideration for Waveform acquisition

^[1]

880

36,000

In issue at December 31

201,866

165,866

American depositary share [Member]

Disclosure of classes of share capital [line items]

In issue at January 1

8,293

8,249