Collegium Pharmaceutical, Inc. · NASDAQ:COLL
Collegium Pharmaceutical — Q1 2025 Earnings Presentation
22 slides from Collegium Pharmaceutical's earnings presentation, May 8, 2025
Slide 1: Q1 2025 Earnings Report
Q1 2025 Earnings Report May 8, 2025 | 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: 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. 4
Slide 5: Recent Business Highlights – Q1 2025
Recent Business Highlights – Q1 20251 Drove Momentum in Commercial Strategically Deployed Capital Strengthened Executive Team Portfolio and Delivered Top-line Growth and Strengthened Balance Sheet and Led With Science Product Revenues, Net +23% $177.8M $55.4M in cash from operations; 3 New executive
Slide 6: Next Phase of Growth – Building on a Successful Strategy
Next Phase of Growth – Building on a Successful Strategy DRIVE SIGNIFICANT MAXIMIZE STRATEGICALLY Jornay PM® Growth Pain Portfolio Deploy Capital • Invest in Jornay PM to support • Maximize and enhance • Expand portfolio through near-term growth and create durability of pain portfolio disciplined bu
Slide 7: Commercial Update
Commercial Update Scott Dreyer Executive Vice President & Chief Commercial Officer
Slide 8: Jornay PM: Strong Brand Fundamentals from HCP Perspective
Jornay PM: Strong Brand Fundamentals from HCP Perspective1 Jornay PM Considered Highly Favorable Jornay PM Recognized for Symptom and Patient/Caregiver Requests Control by HCPs Influence Prescribing #1 recognized #1 highest rated branded ADHD medication for achieving branded ADHD medication in terms
Slide 9: Collegium Resources Driving Strong Jornay PM Prescription Growth
Collegium Resources Driving Strong Jornay PM Prescription Growth ACCELERATION IN QUARTERLY STRONG AND GROWING MARKET SHARE IN BRANDED LA PRESCRIPTIONS 1 PRESCRIBER BASE 2 METHYLPHENIDATE MARKET 1 +22% +6% +24% 25K 20% 181K 21K 14% 147K Q1'24 Q1'25 Q1'24 Q1'25 Q1'24 Q1'25 With Collegium resources and
Slide 10: Investing in Jornay PM to Drive Significant Momentum
Investing in Jornay PM to Drive Significant Momentum COMMERCIAL PRIORITIES FOCUSED ON GROWTH JORNAY PM NEAR-TERM REVENUE EXPECTATIONS Increase Awareness and Adoption with Expanded Set of Prescribers +>34% • Added ~55 new sales reps bringing the expanded ADHD sales force to ~180 sales reps in total,
Slide 11: Well Positioned to Maximize and Enhance Durability of Responsible Pain Management Portfolio
Well Positioned to Maximize and Enhance Durability of Responsible Pain Management Portfolio SUCCESSFUL COMMERCIAL STRONG BRAND EXECUTION OF GROWTH STRATEGY 1 FUNDAMENTALS 2 #1 highest rated branded ER opioid in terms $51.7M of product differentiation and favorability +2% 74% of surveyed target HCPs
Slide 12: Financial Highlights
Financial Highlights Colleen Tupper Executive Vice President & Chief Financial Officer
Slide 13: Q1'25 Financial Highlights
Q1’25 Financial Highlights1 Record Product Revenues, Net Adjusted Operating Expenses2 Adjusted EBITDA2 +23% $177.8M +3% $144.9M $95.2M $92.4M +80% $62.2M $34.5M Q1'24 Q1'25 Q1'24 Q1'25 Q1'24 Q1'25 1. This financial data was provided by Collegium in its press release on Form 8-K and Quarterly Report
Slide 14: Reaffirming 2025 Financial Guidance
Reaffirming 2025 Financial Guidance: Strong Top- and Bottom-Line Growth • Revenue growth expected to be driven Guidance Range2 YoY Change3 by >$135M in Jornay PM net revenue in 2025 and durable pain portfolio performance Product Revenues, Net $735 – 750M +18% • Continued adjusted EBITDA growth to ge
Slide 15: Disciplined Capital Deployment
Disciplined Capital Deployment EXPAND PORTFOLIO THROUGH OPPORTUNISTICALLY LEVERAGE RAPIDLY PAY DISCIPLINED BUSINESS DEVELOPMENT SHARE REPURCHASE PROGRAM DOWN DEBT Acquisition of Ironshore established Board authorized $25M Accelerated 5-year $646M term loan at reduced cost commercial presence in neur
Slide 16: Closing Remarks
Closing Remarks Vikram Karnani President & Chief Executive Officer
Slide 17: Collegium's Next Phase of Growth
Collegium’s Next Phase of Growth CREATING VALUE FOR SHAREHOLDERS Growing Increasing Generating Strong Strategically Disciplined Business Revenue Profitability Cash Flows Deploying Capital Development 17
Slide 18: Q&A
Q&A
Slide 19: Non-GAAP Reconciliations
Non-GAAP Reconciliations
Slide 20: Reconciliation of GAAP Net Income to Adjusted EBITDA
Reconciliation of GAAP Net Income to Adjusted EBITDA (in thousands, unaudited) Three Months Ended March 31, 2025 2024 GAAP net income $ 2,417 $ 27,713 Adjustments: Interest expense 20,790 17,339 Interest income (2,225) (4,487) Provision for income taxes 705 8,909 Depreciation 1,091 917 Amortization
Slide 21: 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, 2025 2024 GAAP operating expenses $ 75,637 $ 41,982 Adjustments: Stock-based compensation 11,524 7,475 Executive transition expense 1,397 — Acquisition related expenses 1,2
Slide 22: Reconciliation of GAAP Net Income to Adjusted Net Income and Adjusted Earnings Per Share
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, 2025 2024 GAAP net income $ 2,417 $ 27,713 Adjustments: Non-cash interest expense 1,367 1,780 Amortization 55,473 34,517
Collegium Pharmaceutical — Q1 2025 Earnings Presentation on 6ix