Filing Flows › Collegium Pharmaceutical (COLL) › Q4 2025
Collegium Pharmaceutical (COLL) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Collegium Pharmaceutical (COLL) reported revenue of $205M for the fourth quarter 2025 (Q4 2025), +13% from a year earlier and -2% from the quarter before. Operating margin was 29.6%, net earnings $17.0M (8.3% of revenue).
Collegium Pharmaceutical, Q4 2025: revenue $205M (+13% year over year), operating margin 29.6%, net earnings $17.0M, operating cash flow $123M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $205M | -2% | +13% |
| Gross profit | $128M | -0.6% | +31% |
| Operating profit | $60.8M | -2% | +59% |
| Net earnings | $17.0M | -46% | +35% |
| Operating cash flow | $123M | +57% | +45% |
| Free cash flow | $122M | +56% | +46% |
What changed
Revenue was $205.4M in Q4 2025, up 13% year over year and down 2% from the previous quarter.
Gross margin was 62.5%, up 8.5 points from a year earlier. Operating profit was $60.8M, a 29.6% margin (up 8.6 points year over year). Of the extra revenue versus a year earlier, 96% reached operating profit, above the 21% margin then. Operating expenses grew 12% against revenue growth of 13%. Net earnings were $17.0M, up 35% year over year. The effective tax rate was 41.6%.
Operating cash flow was $123.0M (up 45% year over year), 725% of net earnings. Non-cash charges added back $111.9M of depreciation and amortization and $9.8M of share-based compensation. Working capital and other items used $15.5M. Capital expenditures of $689K left free cash flow of $122.4M.
Questions
What was Collegium Pharmaceutical's revenue in the fourth quarter 2025?
Collegium Pharmaceutical (COLL) reported revenue of $205M for the fourth quarter 2025 (Q4 2025), +13% from a year earlier and -2% from the quarter before.
Was Collegium Pharmaceutical profitable in the fourth quarter 2025?
Operating profit was $60.8M (29.6% of revenue) and net earnings $17.0M.