Collegium Pharmaceutical, Inc. · NASDAQ:COLL
Collegium Pharmaceutical — Q4 2024 Earnings Presentation
24 slides from Collegium Pharmaceutical's earnings presentation, Feb 27, 2025
Slide 1: Q4 and FY2024 Earnings Report
Q4 and FY2024 Earnings Report February 27, 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: Successful Track Record in Building a Leading, Diversified Biopharmaceutical Company
Successful Track Record in Building a Leading, Diversified Biopharmaceutical Company Strong Commercial Execution Robust Financial Results Strategic Capital Deployment Product Revenues, Net Adjusted EBITDA4 $631M3 $1.6B $197M Invested in business Share repurchases $567M2 development to date5 conducte
Slide 5: Recent Business Highlights
Recent Business Highlights DROVE MOMENTUM IN DELIVERED SIGNIFICANT TOP- STRATEGICALLY DEPLOYED CAPITAL COMMERCIAL PORTFOLIO AND BOTTOM-LINE GROWTH2 AND MANAGED THE BALANCE SHEET Leading Pain Product Revenues, Net Portfolio $567M $631M In 2023 In 2024 Acquired Ironshore $60M share 29% YoY growth 5% Y
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: Expansion into Neuropsychiatry Offers Opportunity in Large and Growing ADHD Market
Expansion into Neuropsychiatry Offers Compelling Opportunity in Large and Growing Attention Deficit Hyperactivity Disorder (ADHD) Market Concentrated Prescriber Base ADHD Prevalence1 ~6.5M ~15.5M Pediatric and Adolescents Adults ~20K HCPs writing 1/3 of prescriptions4 Methylphenidate Patient Mix Ske
Slide 9: Jornay PM: Strong Brand Fundamentals from HCP's Perspective
Jornay PM: Strong Brand Fundamentals from HCP’s 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 ter
Slide 10: Jornay PM Generated Significant Growth in 2024
Jornay PM Generated Significant Growth in 2024 Marked by Acceleration Under Collegium’s Ownership ACCELERATION IN QUARTERLY SIGNIFICANT GROWTH IN STRONG AND GROWING PRESCRIPTIONS 1 ANNUAL PRESCRIPTIONS 1 PRESCRIBER BASE 2 636K +26% +31% 24K +29% 487K 23K +58% 21K 21K +11% 19K 18K 178K +49% 309K 17K
Slide 11: Investing in Jornay PM to Drive Revenue Growth
Investing in Jornay PM to Drive Revenue Growth COMMERCIAL PRIORITIES FOCUSED ON GROWTH JORNAY PM NEAR-TERM REVENUE EXPECTATIONS Increase Awareness and Adoption with Expanded Set of Prescribers +>34% • Expand and optimize salesforce to cover full market >$135M opportunity • Leverage non-personal prom
Slide 12: Well Positioned to Maximize and Enhance Durability of Pain Portfolio
Well Positioned to Maximize and Enhance Durability of Pain Portfolio SUCCESSFUL COMMERCIAL STRONG BRAND EXECUTION OF GROWTH STRATEGY FUNDAMENTALS 2 #1 highest rated branded ER opioid in terms +5.6% of product differentiation and favorability YoY growth in Q4’24 prescriptions1 74% of surveyed target
Slide 13: Financial Highlights
Financial Highlights Colleen Tupper, Executive Vice President & Chief Financial Officer
Slide 14: Achievement of 2024 Financial Commitments Sets Strong Foundation for 2025
Achievement of 2024 Financial Commitments Sets Strong Foundation for 2025 and Beyond ACHIEVED 2024 GUIDANCE WITH 2025 GUIDANCE REFLECTS SIGNIFICANT REMAIN COMMITTED TO STRATEGIC RECORD FINANCIAL RESULTS1 TOP- AND BOTTOM-LINE GROWTH3 CAPITAL DEPLOYMENT Product Revenues, Net Product Revenues, Net +11%
Slide 15: Q4 and FY2024 Financial Highlights
Q4 and FY2024 Financial Highlights1 Record Product Revenues, Net Adjusted Operating Expenses2 Record Adjusted EBITDA2 +22% +3% $182M $150M +97% QUARTERLY $104M $108M $51M $26M Q4'23 Q4'24 Q4'23 Q4'24 Q4'23 Q4'24 +11% +9% $631M $567M +22% $367M $401M FULL-YEAR $124M $151M 2023 2024 2023 2024 2023 202
Slide 16: 2025 Financial Guidance Reflects Strong Top- and Bottom-Line Growth
2025 Financial Guidance Reflects 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 genera
Slide 17: Disciplined Capital Deployment
Disciplined Capital Deployment EXPAND PORTFOLIO THROUGH OPPORTUNISTICALLY LEVERAGE RAPIDLY PAY DISCIPLINED BUSINESS DEVELOPMENT SHARE REPURCHASE PROGRAM DOWN DEBT Acquisition of Ironshore establishes To date, repurchased $197M in shares 5-year $646M Pharmakon term loan at commercial presence in neur
Slide 18: Closing Remarks
Closing Remarks Vikram Karnani, President & Chief Executive Officer
Slide 19: 2025 and Beyond: Jornay PM Leading Collegium's Next Phase of Growth
2025 and Beyond: Jornay PM Leading Collegium’s Next Phase of Growth CREATING VALUE FOR SHAREHOLDERS BY: GROWING REVENUE INCREASING PROFITABILITY GENERATING STRONG CASH FLOWS STRATEGICALLY DEPLOYING CAPITAL 19
Slide 20: Q&A
Q&A
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 December 31, Years Ended December 31, 2024 2023 2024 2023 GAAP net income $ 12,536 $ 31,940 $ 69,190 $ 48,155 Adjustments: Interest expense 22,654 19,281 73,974 83,339 Interest income (1,812) (4,303) (1
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 December 31, Years Ended December 31, 2024 2023 2024 2023 GAAP operating expenses $ 60,177 $ 32,942 $ 207,449 $ 159,208 Adjustments: Stock-based compensation 7,596 7,002 32,400 27,13
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 December 31, Years Ended December 31, 2024 2023 2024 2023 GAAP net income $ 12,536 $ 31,940 $ 69,190 $ 48,155 Adjustments: Non-cas
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