Collegium Pharmaceutical (COLL) Q2 FY2026 earnings: revenue $200 million, up 6.3% on the year

Collegium Pharmaceutical, Inc. (COLL) reported revenue of $200 million for Q2 FY2026, the quarter ended 30 June 2026, up 6.3% on the same quarter a year earlier. Net income was -$15 million, and diluted earnings per share $-0.46. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$200 millionup 6.3%

Net income-$15 million

Diluted EPS$-0.46

QuarterQ2 FY2026ended 30 June 2026

What management said

Guidance figures: 1 raised, 2 lowered, 1 kept.

JORNAY PM revenue growth accelerated to 41%: JORNAY PM net revenue reached $46.1 million in Q2, up 41% year-over-year from $38.9 million in Q1 and $32.6 million in Q2 2025. Prescriptions grew 13.1% year-over-year and prescriber base reached all-time high of over 30,000 healthcare providers, up 17.6% year-over-year.
Salesforce deployment ahead of back-to-school season: Expanded ADHD salesforce fully trained and deployed ahead of important back-to-school selling season. Two complementary ADHD medicines now positioned under single commercial platform to enhance ability to serve healthcare providers and patients.
Pain portfolio revenue declined 9% year-over-year: Pain portfolio net revenues were $140.9 million in Q2 2026, down 9% from $154.6 million in Q1 2026 and $155.0 million in Q2 2025. Decline driven primarily by weakness in Nucynta franchise despite growth from other products.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Revenue	200	194	188	+6.3%
Cost of revenue	89.6	76.3	79.6	+12.5%
Gross profit	110	117	108	+1.8%
Gross margin	55.2%	60.6%	57.7%
Selling, general and administrative	107	86.3	73.6	+44.8%
Operating income	3.7	30.9	35.1	-89.5%
Operating margin	1.9%	16.0%	18.7%
Interest expense	19.5	15.9	20.5	-4.6%
Pre-tax income	-13.5	18.7	17.0	n/a
Income tax	1.5	4.2	5.0	-69.9%
Effective tax rate	n/a	22.6%	29.6%
Net income	-15.1	14.5	12.0	n/a
Net margin	-7.5%	7.5%	6.4%
Diluted EPS	-$0.46	$0.40	$0.34	n/a

$ 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 and capital returned

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Operating cash flow	71.3	57.1	72.4	-1.5%
Capital expenditure	0.5	0.3	0.1	+663.1%
Free cash flow	70.8	56.8	72.4	-2.1%
Free cash flow margin	35.4%	29.4%	38.5%
Cash from investing	-503	1.6	-2.9	n/a
Cash from financing	292	-21.3	-48.4	n/a
Depreciation and amortisation	64.8	55.9	56.6	+14.4%
Share-based compensation	14.5	10.9	10.8	+33.9%
Buybacks	0.0	n/a	25.1	n/a
Diluted shares, weighted	32m	40m	39m	-16.9%
Shares outstanding at period end	32m	32m	32m	+3.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Shareholders' equity	312	312	232	+34.3%
Debt	1,092	803	823	+32.6%
Operating lease liabilities	3.4	3.8	4.9	-29.8%
Other liabilities	729	533	533	+36.8%
Total liabilities and equity	2,136	1,652	1,593	+34.1%
Fixed assets	10.7	11.7	12.9	-17.4%
Goodwill	190	146	148	+28.6%
Intangible assets	1,186	614	780	+52.0%
Investments	0.0	153	105	n/a
Cash and equivalents	129	269	117	+10.3%
Receivables	285	229	213	+33.8%
Inventory	113	42.7	38.1	+196.9%
Other assets	221	187	178	+24.2%
Total assets	2,136	1,652	1,593	+34.1%

Questions

What was Collegium Pharmaceutical's revenue in Q2 FY2026?

Collegium Pharmaceutical (COLL) reported revenue of $200 million for Q2 FY2026, the quarter ended 30 June 2026, up 6.3% on the same quarter a year earlier.

How much did Collegium Pharmaceutical earn in Q2 FY2026?

Net loss for Q2 FY2026 was $15 million, and the diluted loss per share $0.46.

When did Collegium Pharmaceutical report Q2 FY2026 results?

Collegium Pharmaceutical filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 6 August 2026.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026
Revenue	137	150	145	145	159	182	178	188	209	205	194	200
Cost of revenue	56.4	55.1	53.5	54.5	62.5	83.7	80.4	79.6	80.2	77.1	76.3	89.6
Gross profit	80.3	94.6	91.5	90.8	96.8	98.3	97.3	108	129	128	117	110
Gross margin	59%	63%	63%	63%	61%	54%	55%	58%	62%	62%	61%	55%
SG&A	35.3	32.9	42.0	43.3	62.0	63.1	76.4	73.6	67.1	67.6	86.3	107
Operating income	45.0	61.7	49.5	47.5	34.8	38.1	21.7	35.1	62.1	60.8	30.9	3.7
Operating margin	33%	41%	34%	33%	22%	21%	12%	19%	30%	30%	16%	2%
Interest expense	20.8	19.3	17.3	15.6	18.4	22.7	20.8	20.5	21.8	19.3	15.9	19.5
Pre-tax income	28.8	46.7	36.6	29.1	15.6	17.3	3.1	17.0	43.4	29.0	18.7	-13.5
Tax rate	28%	32%	24%	33%	40%	27%	23%	30%	27%	42%	23%	n/a
Net income	20.6	31.9	27.7	19.6	9.3	12.5	2.4	12.0	31.5	17.0	14.5	-15.1
Net margin	15%	21%	19%	13%	6%	7%	1%	6%	15%	8%	7%	-8%
Diluted EPS	$0.53	$0.82	$0.71	$0.52	$0.27	$0.36	$0.07	$0.34	$0.84	$0.46	$0.40	-$0.46
Operating cash flow	74.0	73.3	61.9	67.4	-9.0	84.6	55.4	72.4	78.4	123	57.1	71.3
Capital expenditure	0.1	0.2	0.6	0.3	0.2	0.6	0.8	0.1	0.2	0.7	0.3	0.5
Free cash flow	74.0	73.2	61.4	67.1	-9.2	84.1	54.6	72.4	78.2	122	56.8	70.8
Buybacks	n/a	n/a	n/a	n/a	0.0	n/a	n/a	25.1	0.0	n/a	n/a	0.0
Shares outstanding	33m	32m	33m	32m	32m	31m	32m	32m	32m	32m	32m	32m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2026, filed 6 August 2026, accession 0001628280-26-053851: the filing on EDGAR. All of Collegium Pharmaceutical, Inc.'s filings: EDGAR company page.

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