Collegium Pharmaceutical (COLL) FY2024 results: revenue $631 million, up 11.4% on the year

Collegium Pharmaceutical, Inc. (COLL) reported revenue of $631 million for fiscal 2024, the year ended 31 December 2024, up 11.4% on the year before. Net income was $69 million, up 43.7%, and diluted earnings per share $1.86. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.

Revenue

$631 million

+11.4% on the year

FY2017FY2024

Operating margin

26.9%

29.5% a year earlier

FY2017FY2024

Net income

$69 million

+43.7% on the year

FY2017FY2024

Diluted EPS

$1.86

+44.2% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	631	567	464	+11.4%
Cost of revenue	254	241	254	+5.6%
Gross profit	377	326	209	+15.7%
Gross margin	59.8%	57.5%	45.2%
Research and development	0.0	0.0	4.0
Selling, general and administrative	210	159	172	+32.1%
Operating income	170	167	33.3	+1.8%
Operating margin	26.9%	29.5%	7.2%
Interest expense	74.0	83.3	63.2	-11.2%
Pre-tax income	98.6	75.7	-28.8	+30.2%
Income tax	29.4	27.6	-3.8	+6.5%
Effective tax rate	29.8%	36.4%	n/a
Net income	69.2	48.2	-25.0	+43.7%
Net margin	11.0%	8.5%	-5.4%
Diluted EPS	$1.86	$1.29	-$0.74	+44.2%

$ million except per share.

Free 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

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	205	275	124	-25.4%
Capital expenditure	1.7	0.5	1.6	+258.4%
Free cash flow	203	274	123	-25.9%
Free cash flow margin	32.2%	48.4%	26.4%
Cash from investing	-288	-70.8	-574
Cash from financing	-60.6	-140	437
Depreciation and amortisation	169	149	n/a	+13.3%
Share-based compensation	32.4	27.1	22.9	+19.4%
Buybacks	60.0	75.0	14.1	-20.0%
Diluted shares, weighted	40m	42m	34m	-3.3%
Shares outstanding at period end	31m	32m	34m	-1.3%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	229	195	195	+17.1%
Debt	852	667	701	+27.8%
Operating lease liabilities	5.5	6.1	7.1	-9.6%
Other liabilities	577	275	271	+110.0%
Total liabilities and equity	1,664	1,143	1,174	+45.5%
Fixed assets	14.3	16.0	19.5	-10.3%
Goodwill	162	134	134	+21.3%
Intangible assets	891	422	567	+111.4%
Investments	92.2	71.6	0.0	+28.8%
Cash and equivalents	70.6	239	174	-70.5%
Receivables	229	180	183	+27.3%
Inventory	35.6	32.3	46.5	+10.0%
Other assets	169	49.4	50.1	+241.7%
Total assets	1,664	1,143	1,174	+45.5%

10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.