Collegium Pharmaceutical (COLL) Q3 FY2026 earnings: revenue $216 million, up 3.3% on the year

Collegium Pharmaceutical, Inc. (COLL) reported revenue of $216 million for Q3 FY2026, the quarter ended 30 September 2026, up 3.3% on the same quarter a year earlier. Net income was $22 million, down 30.9% on the year, and diluted earnings per share $0.60. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$216 million

+3.3% on the year · +8.2% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

13.3%

29.7% a year earlier

Q4 FY2024Q3 FY2026

Net income

$22 million

-30.9% on the year

Q4 FY2024Q3 FY2026

Diluted EPS

$0.60

-28.6% on the year

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 4 kept.

Product revenue rose to record quarter: Product revenues, net rose 3% to $216.3 million from $209.4 million a year earlier. The release describes this as record quarterly net revenue.
Adjusted EBITDA fell 9%: Adjusted EBITDA was $121.6 million, down 9% from $133.0 million a year earlier.
JORNAY PM revenue hit record: JORNAY PM net revenue was $51.9 million, up 24%. Management described record revenues, prescriptions and prescriber adoption for the product.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	216	200	209	+8.2%	+3.3%
Cost of revenue	90.9	89.6	80.2	+1.5%	+13.4%
Gross profit	125	110	129	+13.7%	-2.9%
Gross margin	58.0%	55.2%	61.7%
Selling, general and administrative	99.6	107	67.1	-6.6%	+48.4%
Operating income	28.7	3.7	62.1	+676.7%	-53.7%
Operating margin	13.3%	1.9%	29.7%
Interest expense	21.9	19.5	21.8	+12.4%	+0.8%
Pre-tax income	7.9	-13.5	43.4		-81.8%
Income tax	-13.9	1.5	11.9
Effective tax rate	-175.2%	n/a	27.5%
Net income	21.8	-15.1	31.5		-30.9%
Net margin	10.1%	-7.5%	15.0%
Diluted EPS	$0.60	-$0.46	$0.84		-28.6%

$ 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	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	86.5	71.3	78.4	+21.3%	+10.3%
Capital expenditure	0.3	0.5	0.2	-44.2%	+47.3%
Free cash flow	86.3	70.8	78.2	+21.8%	+10.2%
Free cash flow margin	39.9%	35.4%	37.4%
Cash from investing	-0.3	-503	-30.9
Cash from financing	-70.9	292	-14.8
Depreciation and amortisation	55.8	64.8	56.5	-13.8%	-1.2%
Share-based compensation	12.4	14.5	9.8	-14.1%	+26.8%
Buybacks	n/a	0.0	0.0
Diluted shares, weighted	39m	32m	39m	+20.5%	-0.8%
Shares outstanding at period end	31m	32m	32m	-4.4%	-1.7%

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

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	296	312	275	-5.0%	+7.9%
Debt	1,082	1,092	808	-0.9%	+33.8%
Operating lease liabilities	3.9	3.4	4.5	+14.6%	-13.3%
Other liabilities	714	729	520	-2.0%	+37.4%
Total liabilities and equity	2,096	2,136	1,607	-1.9%	+30.4%
Fixed assets	10.9	10.7	12.2	+2.1%	-11.2%
Goodwill	194	190	146	+1.9%	+32.9%
Intangible assets	1,135	1,186	725	-4.3%	+56.5%
Investments	0.0	0.0	136
Cash and equivalents	145	129	150	+11.8%	-3.5%
Receivables	311	285	234	+9.0%	+32.8%
Inventory	88.2	113	38.1	-22.1%	+131.8%
Other assets	213	221	166	-3.7%	+28.0%
Total assets	2,096	2,136	1,607	-1.9%	+30.4%

Questions

What was Collegium Pharmaceutical's revenue in Q3 FY2026?

Collegium Pharmaceutical (COLL) reported revenue of $216 million for Q3 FY2026, the quarter ended 30 September 2026, up 3.3% on the same quarter a year earlier.

How much did Collegium Pharmaceutical earn in Q3 FY2026?

Net income for Q3 FY2026 was $22 million, down 30.9% on the year, and diluted earnings per share $0.60.

When did Collegium Pharmaceutical report Q3 FY2026 results?

Collegium Pharmaceutical filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	27.4	83.8	124	127	130	145	136	137	150	145	145	159	182	178	188	209	205	194	200	216
Cost of revenue	28.7	35.3	71.2	68.2	79.8	67.4	61.7	56.4	55.1	53.5	54.5	62.5	83.7	80.4	79.6	80.2	77.1	76.3	89.6	90.9
Gross profit	-1.3	48.5	52.4	58.8	49.8	77.4	73.8	80.3	94.6	91.5	90.8	96.8	98.3	97.3	108	129	128	117	110	125
Gross margin	-5%	58%	42%	46%	38%	53%	54%	59%	63%	63%	63%	61%	54%	55%	58%	62%	62%	61%	55%	58%
R&D	1.6	4.0	0.0	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
SG&A	26.6	54.5	41.3	38.4	38.0	52.8	38.2	35.3	32.9	42.0	43.3	62.0	63.1	76.4	73.6	67.1	67.6	86.3	107	99.6
Operating income	-34.1	-10.0	11.1	20.5	11.8	24.6	35.6	45.0	61.7	49.5	47.5	34.8	38.1	21.7	35.1	62.1	60.8	30.9	3.7	28.7
Operating margin	-125%	-12%	9%	16%	9%	17%	26%	33%	41%	34%	33%	22%	21%	12%	19%	30%	30%	16%	2%	13%
Interest expense	4.8	5.8	17.8	19.0	20.6	21.4	21.9	20.8	19.3	17.3	15.6	18.4	22.7	20.8	20.5	21.8	19.3	15.9	19.5	21.9
Pre-tax income	-38.9	-15.8	-6.6	1.4	-7.8	-17.6	17.8	28.8	46.7	36.6	29.1	15.6	17.3	3.1	17.0	43.4	29.0	18.7	-13.5	7.9
Tax rate	n/a	n/a	n/a	68%	n/a	n/a	27%	28%	32%	24%	33%	40%	27%	23%	30%	27%	42%	23%	n/a	-175%
Net income	-25.0	-13.1	-5.2	0.5	-7.2	-17.4	13.0	20.6	31.9	27.7	19.6	9.3	12.5	2.4	12.0	31.5	17.0	14.5	-15.1	21.8
Net margin	-91%	-16%	-4%	0%	-6%	-12%	10%	15%	21%	19%	13%	6%	7%	1%	6%	15%	8%	7%	-8%	10%
Diluted EPS	-$0.73	-$0.39	-$0.15	$0.01	-$0.21	-$0.51	$0.34	$0.53	$0.82	$0.71	$0.52	$0.27	$0.36	$0.07	$0.34	$0.84	$0.46	$0.40	-$0.46	$0.60
Operating cash flow	36.2	-25.3	40.5	42.8	66.3	27.7	99.7	74.0	73.3	61.9	67.4	-9.0	84.6	55.4	72.4	78.4	123	57.1	71.3	86.5
Capital expenditure	0.5	0.1	0.5	0.1	0.9	0.2	0.1	0.1	0.2	0.6	0.3	0.2	0.6	0.8	0.1	0.2	0.7	0.3	0.5	0.3
Free cash flow	35.7	-25.4	40.0	42.7	65.4	27.5	99.7	74.0	73.2	61.4	67.1	-9.2	84.1	54.6	72.4	78.2	122	56.8	70.8	86.3
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	n/a	n/a	25.1	0.0	n/a	n/a	0.0	n/a
Shares outstanding	34m	34m	34m	34m	34m	35m	35m	33m	32m	33m	32m	32m	31m	32m	32m	32m	32m	32m	32m	31m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	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.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.