Collegium Q3'26: Record $216.3M Revenue, EPS $0.60, 2026 Guidance Reaffirmed
COLL is trading near its 52-week low of $21.43 (12% above the low).
Summary
Collegium reported record Q3 2026 net revenue of $216.3M (+3% year-over-year) with diluted EPS of $0.60, reaffirmed full-year 2026 guidance, and said its $50M accelerated share repurchase will finish before year-end.
Key Events · Earnings and Guidance · COLL
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Record Q3 Revenue of $216.3M
Product revenues, net rose 3% year-over-year from $209.4M, driven by ADHD growth offsetting an 18% decline in the pain portfolio.
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EPS Falls on Acquisition Costs
GAAP diluted EPS was $0.60 versus $0.84 a year ago; adjusted EPS was $1.96 versus $2.25, with GAAP operating expenses up 44% to $96.7M including $6.7M of acquisition-related expenses.
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ADHD Franchise Now 36% of Revenue
JORNAY PM net revenue reached $51.9M (+24%) and AZSTARYS added $26.5M in its first full quarter of Collegium ownership.
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2026 Guidance Reaffirmed
Full-year 2026 product revenues of $825-855M, JORNAY PM $190-200M, AZSTARYS $65-75M and adjusted EBITDA of $445-470M.
Analysis · COLL · Life Sciences
Revenue hit a record, but profit fell: GAAP diluted EPS dropped to $0.60 from $0.84 a year ago as acquisition costs and a 44% jump in GAAP operating expenses ate into the top line. The ADHD franchise is now the growth engine — JORNAY PM up 24% and AZSTARYS contributing $26.5M in its first full quarter — while the pain portfolio shrank 18%, with Nucynta down 44%. Management reaffirmed full-year 2026 guidance of $825-855M in product revenues and $445-470M in adjusted EBITDA, and said the $50M accelerated share repurchase should be completed before year-end, with $100M still authorized through December 2026.
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At the time of this filing, COLL was trading at $23.97 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $770.6M. The 52-week trading range was $21.43 to $50.79. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.