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Collegium Pharmaceutical (COLL) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Collegium Pharmaceutical (COLL) Q3 2026 earnings results →
Q3 2026 Revenue up 3% year over year to $216M · 10¢ of every $1 of revenue kept as net profit · operating margin 13.3%
Collegium Pharmaceutical made $216M in Q3 2026 (+3% Y/Y): Belbuca $57.7M, Jornay PM $51.9M, Xtampza ER $45.8M. Operating margin 13.3%, net earnings $21.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $216.3M in Q3 2026, up 3% year over year and up 8% from the previous quarter. Belbuca was the largest line at 27% of revenue. Jornay PM added $10.1M year over year (up 24%), 144% of the total change. Nucynta ER declined 57%.
Gross margin was 58.0%, down 3.7 points from Q3 2025. Operating profit was $28.7M, a 13.3% margin (down 16.4 points year over year). Operating profit fell $33.4M even though revenue rose $7.0M versus Q3 2025, so costs grew faster than sales. Operating expenses grew 44% against revenue growth of 3%. Net earnings were $21.8M, down 31% year over year. The tax line was a benefit of $13.9M on pre-tax earnings of $7.9M.
Operating cash flow was $86.5M (up 10% year over year), 398% of net earnings. Non-cash charges added back $55.8M of depreciation and amortization and $12.4M of share-based compensation. Capital expenditures of $277K left free cash flow of $86.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $216M | +3% | 13.3% | $21.8M | $86.5M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $200M | +6% | 1.9% | −$15.1M | $71.3M |
| Q1 2026 | 10-Q | May 7, 2026 | $194M | +9% | 16.0% | $14.5M | $57.1M |
| Q4 2025 | 10-K | Feb 26, 2026 | $205M | +13% | 29.6% | $17.0M | $123M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $209M | +31% | 29.7% | $31.5M | $78.4M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $188M | +29% | 18.7% | $12.0M | $72.4M |
| Q1 2025 | 10-Q | May 8, 2025 | $178M | +23% | 12.2% | $2.4M | $55.4M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Collegium Pharmaceutical
Our mission is to build a leading, diversified biopharmaceutical company committed to improving the lives of people living with serious medical conditions. We have developed, licensed, and acquired a portfolio of meaningfully differentiated products for use in the treatment of attention deficit hyperactivity disorder (“ADHD”) and moderate to severe pain. We commercialize our products, consisting of Jornay PM, Belbuca, Xtampza ER, Nucynta ER and Nucynta IR (collectively the “Nucynta Products”), and Symproic, in the United States. On September 3, 2024, we acquired Ironshore, which had developed and obtained commercial approval to market Jornay PM in the United States.
In its own words, from its 10-K, filed Feb 26, 2026.
Collegium Pharmaceutical against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +7%. Operating margin: 13.3% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| COLL Collegium Pharmaceutical | Q3 2026 | $216M | +3% | 13.3% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: Collegium Pharmaceutical 10-Q on SEC EDGAR · CIK 1267565 · Pharmaceutical Preparations
Guidance and outlook
13F: who owns COLL and who is buying
More on COLL
- How Collegium Pharmaceutical makes money: revenue by segment
- Collegium Pharmaceutical next earnings date and what analysts expect
- Collegium Pharmaceutical stock forecast, price target and fair value
- Who owns Collegium Pharmaceutical stock: holders, funds and Congress trades
- Collegium Pharmaceutical guidance and outlook
- Is Collegium Pharmaceutical a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Collegium Pharmaceutical guidance history: guided vs reported
- Collegium Pharmaceutical gross margin by quarter
- Collegium Pharmaceutical operating margin by quarter
- Collegium Pharmaceutical net income by quarter
- Collegium Pharmaceutical free cash flow by quarter
- Collegium Pharmaceutical capital expenditures by quarter
- Collegium Pharmaceutical Belbuca revenue by quarter
- Collegium Pharmaceutical Jornay PM revenue by quarter
- Collegium Pharmaceutical Xtampza ER revenue by quarter