Trio-Tech International Reports 123.6% Revenue Growth to $16.5 Million in Latest Quarter

Trio-Tech International reported significant financial growth in its latest quarterly results, with total revenue reaching $16.5 million for the three months ended March 31, 2026, a 123.6% increase from $7.4 million in the same period last year. The company's Semiconductor Back-end Solutions (SBS) segment was a major contributor, generating $13.1 million, up 141.1% from $5.4 million, while the Industrial Electronics (IE) segment also saw a 75.7% increase to $3.4 million from $2.0 million. Despite this revenue surge, the overall gross profit margin decreased to 15.5% from 26.8% due to increased costs and a shift in revenue mix.

In terms of profitability, Trio-Tech reported a loss from operations of $81, an improvement from a loss of $343 in the prior year. The company also recorded a net loss attributable to common shareholders of $38, compared to a loss of $495 in the same quarter of the previous year. The increase in operating expenses, which rose to $2.6 million from $2.3 million, was primarily driven by higher general and administrative costs and increased selling expenses. The company’s income tax expense also rose significantly to $146 from $6, reflecting higher global intangible low-taxed income (GILTI) expenses.

Operationally, Trio-Tech's total assets increased to $44.7 million as of March 31, 2026, up from $41.1 million at the end of the previous fiscal year. This growth was attributed to higher cash and cash equivalents, trade accounts receivable, and inventories, although short-term deposits decreased. The company’s liabilities also rose to $12.3 million from $7.1 million, largely due to increased accounts payable and accrued expenses, reflecting the company's expansion and operational scaling.

Strategically, Trio-Tech completed the acquisition of the remaining 50% interest in Trio-Tech Malaysia in December 2025, now fully owning the subsidiary. This acquisition is expected to enhance the company's operational capabilities in the region. Additionally, the company has been diversifying its service offerings and expanding into new markets, particularly in aerospace-related products, which has helped mitigate revenue volatility.

Looking ahead, Trio-Tech remains cautiously optimistic about its growth trajectory, despite ongoing challenges in the semiconductor industry and geopolitical tensions affecting market conditions. The company plans to leverage its recent capital raise of approximately $10 million from a registered direct offering to support working capital and further strategic initiatives. Management continues to monitor market dynamics closely, aiming to adapt to changing conditions while pursuing opportunities for sustainable growth.