Collegium Pharmaceutical, Inc. · NASDAQ:COLL
Collegium Pharmaceutical — Q1 2026 Earnings Presentation
24 slides from Collegium Pharmaceutical's earnings presentation, May 7, 2026
Slide 1: Q1 2026 Earnings Report
Q1 2026 Earnings Report May 7, 2026 | Nasdaq: COLL Healthier people. Stronger communities.
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. We may, in some cases, use terms such as "predicts," "forecasts," "believes," "potential," "proposed," "continue," "estimates," "anticipates,"
Slide 3: Business Update
Business Update Vikram Karnani President & Chief Executive Officer
Slide 4: Building a Leading, Diversified Biopharmaceutical Company
Building a Leading, Diversified Biopharmaceutical Company BY THE NUMBERS Healthier people. Stronger communities. $815M $465M 2 2026 Product Sales1 2026 Adjusted Current focus areas: EBITDA1,2 ADHD & Pain DIFFERENTIATED MEDICINES 4 1. This financial data represents the midpoint of 2026 financial guid
Slide 5: Recent Business Highlights
Recent Business Highlights1 Accelerated Achieved Top-and Strategically Deployed Capital Commercial Momentum Bottom-line Growth to Expand and Diversify Portfolio3 Product Revenues, Net +9% $194M +36% YoY growth $178M in Q1’26 net revenue Announced proposed acquisition of AZSTARYS from Corium Therapeu
Slide 6: Strategic Priorities to Drive Value Creation
Strategic Priorities to Drive Value Creation 2026 Strategic Priorities VALUE CREATION Drive further growth for JORNAY PM ✓ Grows revenue ✓ Extends longevity Maximize the durability of the ✓ Increases profitability Pain Portfolio ✓ Generates robust cash flows Strategically deploy capital ✓ Diversifie
Slide 7: Commercial Update
Commercial Update Scott Dreyer Executive Vice President & Chief Commercial Officer
Slide 8: Product Differentiation and Strong Brand Fundamentals Drive Utilization
Product Differentiation and Strong Brand Fundamentals Drive Utilization1 #1 highest rated ~70% branded ADHD medicine in terms of of surveyed HCPs plan to increase prescribing product differentiation (highest among all other branded ADHD medicines) >70% ~67% of HCPs will honor a patient/caregiver req
Slide 9: Fastest Growing Stimulant for Treatment of ADHD
Fastest Growing Stimulant for Treatment of ADHD GROWTH STRONG MARKET SHARE IN IN QUARTERLY AND GROWING BRANDED LONG-ACTING PRESCRIPTIONS 1 PRESCRIBER BASE 2 METHYLPHENIDATE MARKET 1 +14% +17% +5.8 Percentage Points 30K 26% 206K 25K 181K 20% Q1'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 1. IQVIA NPA through Ma
Slide 10: Highly Complementary Addition to ADHD Portfolio
Highly Complementary Addition to ADHD Portfolio1 Dual immediate and long-acting profile First and only ADHD treatment with both fast and long-acting medicines in one capsule Treatment option for patients in need of rapid onset of efficacy and duration throughout the day Considered highly differentia
Slide 11: Driving Accelerated Growth for ADHD Portfolio
Driving Accelerated Growth for ADHD Portfolio1 • Increase awareness and adoption • Successfully integrate AZSTARYS into with expanded set of prescribers portfolio • Raise caregiver and patient awareness • Accelerate growth trajectory by to drive HCP request leveraging established commercial infrastr
Slide 12: Well Positioned to Maximize Durability of Responsible Pain Management Portfolio
Well Positioned to Maximize Durability of Responsible Pain Management Portfolio SUCCESSFUL COMMERCIAL STRONG BRAND EXECUTION 1 FUNDAMENTALS 2 #1 highest rated branded ER opioid in terms of product differentiation and favorability $52.6M Q1’26 revenue 74% of surveyed target HCPs plan to increase pres
Slide 13: Financial Highlights
Financial Highlights Colleen Tupper Executive Vice President & Chief Financial Officer
Slide 14: Q1'26 Financial Highlights
Q1’26 Financial Highlights1 Product Revenues, Net Adjusted Operating Expenses2 Adjusted EBITDA2 +9% $194M +9% $178M +11% $104M $95M $69M $62M Q1'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 1. This financial data was provided by Collegium in its press release on Form 8-K and Quarterly Report on Form 10-Q filed
Slide 15: AZSTARYS Acquisition Transaction and Financial Details
AZSTARYS Acquisition Transaction and Financial Details1 Funding for Purchase Price Capital Impact Financial Impact Acquisition • $650 million in cash • $350 million cash on • Net debt to adjusted • Immediately accretive hand EBITDA2,3 expected to to adjusted EBITDA2 • Up to $135 million in be approx
Slide 16: 2026 Financial Guidance
2026 Financial Guidance 2026 Guidance Range2 YoY Change3 Product Revenues, Net $805 – 825M +4% JORNAY PM Revenue, Net $190 – 200M +31% Adjusted EBITDA1 $455 – 475M +1% 1. Represents a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” on slide 2. 2. This financial data was provided b
Slide 17: Disciplined Capital Deployment
Disciplined Capital Deployment EXPAND PORTFOLIO THROUGH DISCIPLINED DEBT OPPORTUNISTICALLY LEVERAGE BUSINESS DEVELOPMENT MANAGEMENT SHARE REPURCHASE PROGRAM 3 • Acquisition of Ironshore added lead • Successfully closed $980M syndicated • Returned $222M of value to growth driver, JORNAY PM, new sales
Slide 18: Closing Remarks
Closing Remarks Vikram Karnani President & Chief Executive Officer
Slide 19: Creating Value for Shareholders
Creating Value for Shareholders 2026 STRATEGIC PRIORITIES 1. Drive significant 2. Maximize the durability 3. Strategically deploy capital growth for JORNAY PM of the Pain Portfolio • Business Development • Debt repayment • Share repurchases VALUE CREATION Grow Extend Increase Generate Diversify Stre
Slide 20: Healthier people. Stronger communities.
Healthier people. Stronger communities. Building a leading, diversified biopharmaceutical company committed to improving the lives of people living with serious medical conditions. 20 20
Slide 21: Non-GAAP Reconciliations
Non-GAAP Reconciliations
Slide 22: Reconciliation of GAAP Net Income to Adjusted EBITDA
Reconciliation of GAAP Net Income to Adjusted EBITDA (in thousands, unaudited) Three Months Ended March 31, 2026 2025 GAAP net income $ 14,496 $ 2,417 Adjustments: Interest expense 15,862 20,790 Interest income (3,706) (2,225) Provision for income taxes 4,244 705 Depreciation 463 1,091 Amortization
Slide 23: Reconciliation of GAAP Operating Expenses to Adjusted Operating Expenses
Reconciliation of GAAP Operating Expenses to Adjusted Operating Expenses (in thousands, unaudited) Three Months Ended March 31, 2026 2025 GAAP operating expenses $ 86,350 $ 75,637 Adjustments: Stock-based compensation 10,880 11,524 Executive transition expense — 1,397 Acquisition related expenses 6,
Slide 24: Reconciliation of GAAP Net Income to Adjusted Net Income and Adjusted EPS
Reconciliation of GAAP Net Income to Adjusted Net Income and Adjusted Earnings Per Share (in thousands, except share and per share amounts, unaudited) Three Months Ended March 31, 2026 2025 GAAP net income $ 14,496 $ 2,417 Adjustments: Non-cash interest expense 819 1,367 Amortization 55,473 55,473 S
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