Filing Flows › Collegium Pharmaceutical (COLL) › Q2 2026
Collegium Pharmaceutical (COLL) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Collegium Pharmaceutical (COLL) reported revenue of $200M for the second quarter 2026 (Q2 2026), +6% from a year earlier and +3% from the quarter before. Operating margin was 1.9%, net loss $15.1M (7.5% of revenue).
Collegium Pharmaceutical, Q2 2026: revenue $200M (+6% year over year), operating margin 1.9%, net loss $15.1M, operating cash flow $71.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $200M | +3% | +6% |
| Operating profit | $3.7M | -88% | -89% |
| Net earnings | −$15.1M | -204% | -226% |
| Operating cash flow | $71.3M | +25% | -2% |
| Free cash flow | $70.8M | +25% | -2% |
What changed
Revenue was $199.9M in Q2 2026, up 6% year over year and up 3% from the previous quarter. Belbuca was the largest line at 29% of revenue. Jornay PM added $13.4M year over year (up 41%), 113% of the total change. Nucynta IR declined 46%.
Gross margin was 55.2%, down 2.5 points from Q2 2025. Operating profit was $3.7M, a 1.9% margin (down 16.8 points year over year). Operating profit fell $31.4M even though revenue rose $11.9M versus Q2 2025, so costs grew faster than sales. Operating expenses grew 45% against revenue growth of 6%. The quarter ended with a net loss of $15.1M, after a profit of $14.5M the previous quarter. Net interest and other expense of $17.2M was the main reason.
Operating cash flow was $71.3M (down 2% year over year). Non-cash charges added back $64.8M of depreciation and amortization and $14.5M of share-based compensation. Working capital and other items added $7.1M. Capital expenditures of $496K left free cash flow of $70.8M.
Questions
What was Collegium Pharmaceutical's revenue in the second quarter 2026?
Collegium Pharmaceutical (COLL) reported revenue of $200M for the second quarter 2026 (Q2 2026), +6% from a year earlier and +3% from the quarter before.
Was Collegium Pharmaceutical profitable in the second quarter 2026?
Operating profit was $3.7M (1.9% of revenue) and net loss $15.1M.