The strong revenue growth, particularly in the high-margin Jornay PM product, combined with reaffirmed guidance and improved financial flexibility, suggests continued momentum. Traders should monitor the execution of the company's capital deployment strategy, including potential business development opportunities.
Price Chart
Executive Summary
Collegium Pharmaceutical reported strong financial results for Q4 and full-year 2025, with revenue growth of 13% and 24% YoY respectively, driven by significant growth in its ADHD business (Jornay PM) and durable performance in its pain portfolio. The company reaffirmed its 2026 guidance and strengthened its balance sheet through a new $980 million credit facility and $25 million in share repurchases.
Key Financial Metrics
Key Facts
- Generated record quarterly net revenues of $205.4 million (up 13% YoY) and full-year net revenues of $780.6 million (up 24% YoY)
- Jornay PM net revenue grew 57% YoY in Q4 and 48% YoY for the full year
- Pain portfolio net revenues grew 5% YoY in Q4 and 6% YoY for the full year
- Reaffirmed full-year 2026 guidance with product revenues of $805-825 million and adjusted EBITDA of $455-475 million
- Closed $980 million syndicated credit facility to improve debt terms and provide flexibility for business development
- Repurchased $25 million of shares in 2025
Financial Impact
Revenue growth of 24% YoY to $780.6 million, adjusted EBITDA growth of 15% YoY to $460.5 million
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Jornay PM | $148.9M | +48.0% |
| Pain Portfolio | $631.7M | +6.0% |
Risk Factors
- Dependence on continued growth of Jornay PM
- Competition in ADHD and pain management markets
- Execution risk in business development strategy
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-011990 |
| Document: coll-2025x12x31xex99x2.htm | 0001628280-26-011990 |
| Document: coll-20260226.htm | 0001628280-26-011990 |
| Document: 0001628280-26-011990-index-headers.html | 0001628280-26-011990 |
| Document: 0001628280-26-011990-index.html | 0001628280-26-011990 |
| Document: 0001628280-26-011990.txt | 0001628280-26-011990 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 19, 2026 6w ago | Court Ruling | $28.74 $22.38 | ▼ −22.13% | ▼ −20.18% | $22.07 (−23.21%) |
Aug 13, 2026 7w ago | 8-K | $28.15 $22.75 | ▼ −19.18% | ▼ −17.44% | $22.07 (−21.60%) |
Aug 6, 2026 8w ago | 8-K | $29.11 $23.70 | ▼ −18.58% | ▼ −19.18% | $22.07 (−24.18%) |
May 15, 2026 19w ago | Insider Cluster | $33.65 $34.65 | ▲ +2.97% | ▲ +1.39% | $22.07 (−34.41%) |
May 12, 2026 20w ago | Press Release | $35.69 $34.80 | ▼ −2.49% | ▼ −0.77% | $22.07 (−38.16%) |
May 11, 2026 20w ago | 144 | $35.81 $34.40 | ▼ −3.94% | ▼ −3.63% | $22.07 (−38.37%) |
Apr 23, 2026 23w ago | Press Release | $32.28 $34.22 | ▲ +6.01% | ▲ +1.38% | $22.07 (−31.63%) |
Apr 7, 2026 25w ago | 8-K | $33.43 $35.32 | ▲ +5.65% | ▼ −2.89% | $22.07 (−33.98%) |
Mar 19, 2026 28w ago | Press Release | $36.30 $34.41 | ▼ −5.21% | ▼ −12.83% | $22.07 (−39.20%) |
Mar 3, 2026 30w ago | Press Release | $39.99 $33.07 | ▼ −17.30% | ▼ −12.90% | $22.07 (−44.81%) |
US Market Status
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