Filing Flows › Collegium Pharmaceutical (COLL) › Q3 2026
Collegium Pharmaceutical (COLL) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Collegium Pharmaceutical (COLL) reported revenue of $216M for the third quarter 2026 (Q3 2026), +3% from a year earlier and +8% from the quarter before. Operating margin was 13.3%, net earnings $21.8M (10.1% of revenue).
Collegium Pharmaceutical, Q3 2026: revenue $216M (+3% year over year), operating margin 13.3%, net earnings $21.8M, operating cash flow $86.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $216M | +8% | +3% |
| Gross profit | $125M | +14% | -3% |
| Operating profit | $28.7M | +677% | -54% |
| Net earnings | $21.8M | — | -31% |
| Operating cash flow | $86.5M | +21% | +10% |
| Free cash flow | $86.3M | +22% | +10% |
What changed
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.
Questions
What was Collegium Pharmaceutical's revenue in the third quarter 2026?
Collegium Pharmaceutical (COLL) reported revenue of $216M for the third quarter 2026 (Q3 2026), +3% from a year earlier and +8% from the quarter before.
Was Collegium Pharmaceutical profitable in the third quarter 2026?
Operating profit was $28.7M (13.3% of revenue) and net earnings $21.8M.