Short answer
COLLEGIUM PHARMACEUTICAL, INC (COLL) filed its fiscal 2025 10-K annual report with the SEC on Feb 26, 2026. It reported revenue of $781M (+23.6% year over year) and net income of $63M.
- Top risk flagged: Cybersecurity risks overseen by Audit Committee with quarterly updates from Head of IT on incidents and infrastructure vulnerabilities
FY2025 key financial metrics · XBRL
- Revenue
- $781M
- +23.6% YoY
- Net income
- $63M
- −9.1% YoY
- Operating margin
- 23.0%
- −3.9 pp YoY
- Gross margin
- 59.3%
- −0.4 pp YoY
- EPS (diluted)
- $1.73
- −7.0% YoY
- ROE
- 20.8%
- −9.4 pp YoY
- Operating cash flow
- $329M
- +60.7% YoY
Source: XBRL data from the COLLEGIUM PHARMACEUTICAL, INC (COLL) FY2025 10-K on SEC EDGAR. USD.
COLLEGIUM PHARMACEUTICAL, INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Commercializes differentiated biopharmaceutical products for ADHD and moderate to severe pain in the U.S.
- New: September 2024 acquisition of Ironshore adds Jornay PM, expanding into neuropsychiatry and ADHD market
- Strategic shift: Diversification beyond pain management to ADHD stimulation therapy with Jornay PM launch
- Quantitative: Pain sales force ~105 reps; ADHD sales force ~200 reps targeting ~21,000 prescribers
- Noteworthy: FDA granted pediatric exclusivity extensions up to January 2027 for Nucynta IR and December 2025 for Nucynta ER
Management Discussion & Analysis
- Revenue $780.6M in 2025, up $149.2M YoY from $631.4M; Jornay PM +$111.7M, Nucynta Products +$19.8M, Belbuca +$10.4M, Xtampza ER +$8.0M
- Gross profit $463.3M vs $377.3M; operating expenses $284.8M vs $210.4M; operating income $179.6M vs $169.9M; operating margin ~23.0% vs ~26.9% (calculated from operating income/revenue)
- Best segment: Jornay PM revenue $111.7M increase due to full year revenue in 2025 post-acquisition; worst: Symproic revenue down $0.7M
- Cash & equivalents $231.3M at 2025 year-end vs $70.6M at 2024; 2025 Term Loan $580M outstanding with $29M due next 12 months; no detailed capex, buyback or dividend info provided
- Management expects cash, cash equivalents, marketable securities plus operations to fund expenses, debt service, capex; risks include generic launch of Nucynta IR and ER impacting revenues
Risk Factors
- Cybersecurity risks overseen by Audit Committee with quarterly updates from Head of IT on incidents and infrastructure vulnerabilities
- Potential impact from cybersecurity incidents managed by Head of IT with 20+ years experience and senior leadership for 10+ years
- Operational risk from information technology infrastructure reliant on bi-weekly management meetings and established incident response plan
Generated from the filing text; verify against the original. How to read a 10-K
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