COLLEGIUM PHARMACEUTICAL, INC (COLL) FY2025 10-K Annual Report

Filed: Feb 26, 2026
Health Care
Pharmaceutical PreparationsSEC EDGAR

COLLEGIUM PHARMACEUTICAL, INC (COLL) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

COLLEGIUM PHARMACEUTICAL, INC FY2025 10-K Analysis

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
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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)
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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
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COLLEGIUM PHARMACEUTICAL, INC FY2025 Key Financial Metrics
XBRL

Revenue

$781M

+23.6% YoY

Net Income

$63M

-9.1% YoY

Gross Margin

59.3%

-41bp YoY

Operating Margin

23.0%

-389bp YoY

Net Margin

8.1%

-290bp YoY

ROE

20.8%

-939bp YoY

Total Assets

$1.7B

-0.4% YoY

EPS (Diluted)

$1.73

-7.0% YoY

Operating Cash Flow

$329M

+60.7% YoY

Source: XBRL data from COLLEGIUM PHARMACEUTICAL, INC FY2025 10-K filing on SEC EDGAR. All figures in USD.

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