NASDAQ$COLL

Collegium Pharmaceutical Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Collegium reported a net loss due to a $38.3 million product revenue adjustment related to returns adjustments, despite efforts to manage costs.

Collegium Pharmaceutical reported a net loss for Q4 2021, primarily due to a significant revenue adjustment related to product returns. While the company managed to contain operating expenses, the revenue adjustment significantly impacted the financial results. The company is focused on renegotiating Xtampza ER contracts and diversifying the business through acquisitions, with the BDSI acquisition expected to be transformative.

  • Total net product revenues decreased to $27.4 million, including a $38.3 million product revenue adjustment.
  • Xtampza ER net product revenues were $5.3 million, including returns adjustments of $13.8 million.
  • Nucynta franchise net product revenues were $22.1 million, including returns adjustments of $24.5 million.
  • Net loss for the quarter was ($25.0) million, or ($0.73) loss per share.

Headline financials

Total Revenue

$27.4M

Previous: $76.3M-64.1%
EPS (adj)

-$0.51

Previous: $0.20-355.0%
Adjusted EBITDA

-$4.48M

No prior period
Capital Expenditures

$515K

Previous: $1.48M-65.2%
Free Cash Flow

$35.7M

Previous: $21.1M+69.1%
Net Income

-$25M

Previous: $6.96M-459.8%
Operating Income

-$34.1M

Previous: $15M-327.5%
Gross Profit

-$1.33M

Previous: $44.3M-103.0%
Cash & Equivalents

$186M

Previous: $174M+7.1%
Total Assets

$692M

Previous: $644M+7.5%
Stock-Based Comp

$4.91M

Previous: $6.21M-20.9%

Revenue & EPS history

Collegium · Revenue · Quarterly

$27.4M

Q4 2021-64.1%vs Q4 2020
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Revenue by segment

Collegium · $27.4M total across 2 segments · Q4 2021

  • Nucynta Franchise
    $22.1M
  • Xtampza ER
    $5.3M

Forward guidance

Collegium expects total revenues in the range of $315 million to $330 million for 2022. A more detailed outlook will be provided after the closing of the acquisition of BioDelivery Sciences International, Inc. (BDSI), expected late in the first quarter of 2022.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+2.6%

Avg return

Earnings day

+4.9%

Avg return

5 days after

+2.2%

Avg return

30 days after

61%

28 / 46 earnings

Positive

+31.2%

Q3 2019

Best reaction

-17.6%

Q2 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+7.7%-2.2%-8.9%
Q4 2025-3.5%-12.6%-29.1%
Q3 2025+4.4%+16.5%+17.8%
Q1 2025+5.9%+6.6%+10.7%
Q4 2024+2.2%+0.2%+4.5%
Q3 2024-6.8%-9.0%-13.1%
Q2 2024+2.5%+5.9%+7.3%
Q1 2024-17.2%-12.5%-12.8%
Q4 2023+14.5%+15.8%+25.1%
Q3 2023+4.6%+10.8%+23.0%
Q2 2023+6.8%+9.5%+7.9%
Q1 2023+3.6%+6.4%-2.2%
Q4 2022+1.7%+0.5%-10.0%
Q3 2022+6.9%+11.9%+30.6%
Q2 2022+11.4%+7.2%-1.0%
Q1 2022+1.7%+10.0%+15.9%
Q4 2021-14.0%-17.7%-14.1%
Q3 2021-5.3%+1.0%-12.5%
Q2 2021-17.6%-23.7%-19.2%
Q1 2021+3.6%-0.3%-1.8%
Q4 2020-9.6%-14.1%-8.8%
Q3 2020+2.2%+4.3%+1.9%
Q2 2020+6.6%+13.4%+16.4%
Q1 2020+9.4%+16.2%+0.3%
Q4 2019+5.2%-1.5%-27.4%
Q3 2019+31.2%+38.5%+53.5%
Q2 2019+4.0%+9.6%+0.9%
Q1 2019+5.6%-2.9%-18.0%
Q4 2018+18.5%+22.4%+2.0%
Q3 2018-0.4%+10.8%+23.1%
Q2 2018-5.7%-2.0%-15.7%
Q1 2018+11.6%+8.6%+9.7%
Q4 2017+17.9%+6.3%-11.9%
Q3 2017+25.8%+44.7%+75.2%
Q2 2017-4.2%-0.1%-2.4%
Q1 2017+12.5%+11.5%+28.0%
Q4 2016+7.9%+7.4%-34.6%
Q3 2016+7.9%+1.8%-0.1%
Q2 2016-13.1%-9.7%-23.8%
Q1 2016-3.0%
Q4 2015-5.6%
Q3 2015-10.4%
Q2 2015-4.3%
Q1 2015-0.8%
Q1 2014-0.8%
Q4 2014-0.8%
Q3 2014
Q2 2014

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