COLL
Collegium Pharmaceutical, Inc.48.71
-0.30-0.61%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
Q&A clarifies GTN drivers, BD limits
Q&A unpacked Jornay's revenue surge, pinning 28% QoQ growth on gross-to-net tailwinds from seasonality, better returns, and contracting—full-year now mid-60s, tightened from upper 60s. Sales force expansion added prescribers but awaits 2026 impact. Management opened up on BD: ready to lever to 3x net debt/EBITDA for commercial pain/CNS assets, avoiding R&D risk. Nucynta snagged a $2.8M rebate timing benefit; adherence tracks ADHD norms. No surprises. Investors watch Jornay momentum and deal flow.
Key Stats
Market Cap
1.54BP/E (TTM)
29.88Basic EPS (TTM)
1.63Dividend Yield
0%Recent Filings
8-K
2026 guidance: $805-825M revenue
Collegium issued 2026 guidance via press release on January 8, projecting net product revenues of $805M-$825M and adjusted EBITDA of $455M-$475M, with Jornay PM driving $190M-$200M. Jornay PM surges +32% while total revenue grows modestly +4%; EBITDA holds flat. New Hikma AG deal bolsters Nucynta durability. Forward-looking; actuals may differ materially.
8-K
Closes $980M credit facility
Collegium Pharmaceutical closed a $980M syndicated credit facility on December 23, 2025, with $580M term loan repaying its prior $581M debt, plus $300M delayed draw and $100M revolver maturing 2030. SOFR + 2.75%-3.75% slashes interest costs versus old terms. New covenants test leverage and fixed charges quarterly. Flexibility fuels business development.
8-K
Record Q3 revenues, raised guidance
Collegium Pharmaceutical reported record Q3 2025 net product revenues of $209.4 million, surging 31% year-over-year, fueled by Jornay PM's $41.8 million haul amid 20% prescription growth and the pain portfolio's $167.6 million, up 11%. The company raised full-year 2025 guidance to $775-785 million in net revenues and $460-470 million in adjusted EBITDA, reflecting robust commercial execution in ADHD and pain markets. Cash reserves hit $285.9 million. Yet litigation settlements pose ongoing risks.
10-Q
Q3 FY2025 results
Collegium Pharmaceutical's Q3 FY2025 results showed robust topline momentum, with product revenues hitting $209.4M, up 31.5% y/y from $159.3M (derived), fueled by Jornay PM's full-quarter contribution post-September 2024 acquisition and gains across Belbuca, Xtampza ER, and Nucynta lines. Gross margin held steady at 61.7%, while operating income climbed to $62.1M from $34.8M y/y, reflecting controlled SG&A at $67.1M amid integration costs; diluted EPS reached $0.84, up from $0.27, reconciling cleanly to 39.4M weighted shares with no anti-dilution flags. Cash from operations surged to $206.3M YTD, bolstering $150.1M quarter-end cash and $136M marketable securities, against $570M term debt (due 2029 at SOFR+4.50%) and $238M convertibles (due 2029 at 2.875%), with $150M share repurchase authorization unused. The Ironshore deal closed September 2024 for $306.1M cash, adding $635M intangibles (7.7-year life) and $12.1M goodwill for ADHD synergies. Yet patent challenges from generics loom large.
8-K
Q2 revenues soar 29%
Collegium Pharmaceutical reported Q2 2025 net product revenues of $188.0 million, surging 29% year-over-year, fueled by Jornay PM's record $32.6 million (up 23% in prescriptions) and pain portfolio's $155.4 million (up 7%). The company raised full-year guidance to $745-760 million in revenues and $440-455 million adjusted EBITDA, while authorizing a $150 million share repurchase through 2026. Strong cash generation hit $222.2 million. Yet debt remains a drag on flexibility.
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