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
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
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
Q2 FY2025 results
Collegium Pharmaceutical posted solid Q2 FY2025 results, with product revenues hitting $188M, up 29.4% y/y from $145M, fueled by Jornay PM's $33M debut post-September 2024 acquisition alongside Xtampza ER's 18.0% y/y gain to $53M. Gross profit climbed to $108M from $91M y/y, yet operating income dipped 26.1% to $35M as SG&A swelled 70.0% to $74M from integration costs and expanded sales efforts. Diluted EPS fell to $0.34 from $0.52 y/y, reconciled via 39.1M weighted shares including convertible notes adjustment. Cash swelled to $117M with $128M operating cash flow for the half-year, supporting $585M term debt at 9.9% effective rate and $238M convertibles; free cash flow not disclosed in the 10-Q. The Ironshore deal closed September 2024 for $306M cash, adding $635M intangibles amortized over 7.7 years and $14M goodwill. Patent battles with 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.
8-K
Collegium launches $150M buyback
Collegium Pharmaceutical's board authorized a $150 million share repurchase program on July 1, 2025, targeting up to that amount of common stock through December 31, 2026. Purchases will occur on the open market, guided by market conditions and share price, funded entirely by existing cash reserves. This signals confidence in the company's value. Yet, execution hinges on volatile markets.
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