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Collegium Pharmaceutical (COLL) FY2021 results: revenue $277 million, down 10.7% on the year

Collegium Pharmaceutical, Inc. (COLL) reported revenue of $277 million for fiscal 2021, the year ended 31 December 2021, down 10.7% on the year before. Net income was $72 million, up 167.3%, and diluted earnings per share $1.86. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.

Revenue
$277 million
-10.7% on the year
FY2016FY2021
Operating margin
6.4%
18.1% a year earlier
FY2016FY2021
Net income
$72 million
+167.3% on the year
FY2016FY2021
Diluted EPS
$1.86
+144.7% on the year
FY2016FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q4 FY2021

Income statement (profit and loss)

$ millionFY2021FY2020FY2019On the yearLast 8 years
Revenue277310297-10.7%
Cost of revenue126130194-3.0%
Gross profit151180103-16.2%
Gross margin54.4%58.0%34.7%
Research and development9.59.810.3-3.3%
Selling, general and administrative119114116+4.5%
Operating income17.656.2-23.7-68.7%
Operating margin6.4%18.1%-8.0%
Interest expense21.028.90.9-27.2%
Pre-tax income-3.427.6-22.7
Income tax-74.90.80.0
Effective tax raten/a3.0%n/a
Net income71.526.8-22.7+167.3%
Net margin25.8%8.6%-7.7%
Diluted EPS$1.86$0.76-$0.68+144.7%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2021FY2020FY2019On the yearLast 8 years
Operating cash flow10493.927.8+10.2%
Capital expenditure1.95.56.4-64.9%
Free cash flow10288.421.3+15.0%
Free cash flow margin36.7%28.5%7.2%
Cash from investing-1.9-374-6.4
Cash from financing-89.32862.0
Depreciation and amortisation68.961.50.7+12.0%
Share-based compensation24.321.916.5+10.7%
Buybacks47.9n/an/a
Diluted shares, weighted41m35m33m+16.8%
Shares outstanding at period end34m35m34m-2.8%

Balance sheet

$ millionFY2021FY2020FY2019On the yearLast 8 years
Shareholders' equity20318687.4+9.1%
Debt25025711.5-2.8%
Operating lease liabilities8.08.89.4-9.3%
Other liabilities231192198+20.5%
Total liabilities and equity692644306+7.5%
Fixed assets19.519.011.9+2.6%
Intangible assets26933629.5-20.0%
Cash and equivalents186174170+7.1%
Receivables10683.373.0+27.0%
Inventory17.415.69.6+11.4%
Other assets94.215.912.3+492.5%
Total assets692644306+7.5%

10-K for the year ended 31 December 2021, filed 24 February 2022: the filing.