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Earnings analysis · 10-Q

COLL earnings analysis

Filed May 7, 2026 · Our reading of the company's report

The latest report

Collegium Pharmaceutical reported Q1 2026 results with revenues of $193.5 million, surpassing estimates and posting a sharp rise in net income to $14.5 million. The quarter reflected strong performance across several…

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Collegium Pharmaceutical reported Q1 2026 results with revenues of $193.5 million, surpassing estimates and posting a sharp rise in net income to $14.5 million. The quarter reflected strong performance across several key products, particularly Jornay PM, while management highlighted ongoing investments in sales and marketing as they navigate upcoming acquisitions and regulatory challenges.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $39 Operating expenses $45 Left as operating profit $16

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Reported figures

Earnings per share
$0.4
Segment
Jornay PM
Segment
Belbuca
Segment
Xtampza ER
Segment
Nucynta Products
Segment
Symproic

What stood out

  • Revenue Exceeds Expectations

    Q1 2026 revenues reached $193.5 million, exceeding expectations of $183.7 million by 5.7%.

  • Strong EPS Growth

    Diluted EPS for Q1 2026 was reported at $0.40, up from $0.07 in Q1 2025.

  • Jornay PM Sales Surge

    Jornay PM revenue increased by $10.4 million due to higher volume and pricing.

  • Increased Cash Position

    The company held $421.8 million in cash, cash equivalents, and marketable securities as of March 31, 2026.

  • Positive Cash Flow Trends

    Operating cash flow stood at $57.1 million, slightly up from $55.4 million in 2025.

  • Reaffirmed Full-Year Guidance

    Collegium maintained its full-year revenue guidance of $805M-$825M.

What to watch

  • Acquisition Integration Risks

    The pending acquisition of AZSTARYS may encounter delays or issues during integration, potentially impacting business operations.

  • Drug Pricing Pressure

    Ongoing regulatory scrutiny and new legislation on drug pricing may affect profitability.

  • Liabilities from Opioid Litigation

    Continued opioid-related lawsuits could lead to significant legal expenses and adverse financial impacts.

Management's outlook

Full-year revenue guidance reaffirmed, with expected product revenues between $805M and $825M.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.