Collegium Pharmaceutical(COLL) - 2025 Q3 - Quarterly Results

Financial Performance - Generated record quarterly net revenue of $209.4 million, up 31% year-over-year[1] - Generated record quarterly pain portfolio net revenue of $167.6 million, up 11% year-over-year, with all three core products growing year-over-year[5] - Generated Nucynta franchise net revenue of $54.8 million, up 21% year-over-year[8] - Adjusted EBITDA for Q3 2025 was $133.0 million, representing a 27% increase year-over-year[10] - GAAP net income for Q3 2025 was $31.5 million, with $1.00 GAAP earnings per share (basic)[9] - Net income for Q3 2025 was $31.5 million, significantly up from $9.3 million in Q3 2024, marking a 237.5% increase[28] - Adjusted EBITDA for Q3 2025 was $133.0 million, compared to $105.1 million in Q3 2024, representing a 26.5% increase[30] - The company reported a basic earnings per share of $1.00 for Q3 2025, compared to $0.29 for Q3 2024, reflecting a significant increase[28] Revenue Guidance - Raised full-year 2025 net revenue guidance to a range of $775 to $785 million and adjusted EBITDA guidance to a range of $460 to $470 million[1][6] - Collegium Pharmaceutical anticipates continued growth in product revenues and adjusted EBITDA for 2025, driven by market expansion and new product launches[1] Cash and Assets - Ended Q3'25 with cash, cash equivalents, and marketable securities of $285.9 million[1] - Total assets as of September 30, 2025, were $1.607 billion, a decrease from $1.664 billion as of December 31, 2024[26] - Cash and cash equivalents increased to $150.1 million from $70.6 million at the end of 2024, showing a 112.5% increase[26] Operating Expenses - Adjusted operating expenses for Q3 2025 were $55.7 million, representing a 60% increase year-over-year[9] - Selling, general and administrative expenses for Q3 2025 were $67.1 million, up from $62.0 million in Q3 2024, indicating an 8.5% increase[28] Product Performance - Generated record quarterly Jornay PM® net revenue of $41.8 million, with prescriptions growing by 20% year-over-year[5] - Jornay PM prescribers reached an all-time high of 27,700 healthcare providers, up 22% year-over-year[5] - Product revenues for Q3 2025 reached $209.4 million, a 31.5% increase from $159.3 million in Q3 2024[28] - Gross profit for Q3 2025 was $129.2 million, compared to $96.8 million in Q3 2024, reflecting a 33.4% year-over-year growth[28] Strategic Focus - The company is focused on managing relationships with licensors and maintaining regulatory approvals to support future growth[1]