Earnings Summary of Collegium Pharmaceutical Inc for Q2 2024
Intellectia.AI Updated: 1970-01-01
Earnings Summary of Collegium Pharmaceutical Inc. for Q2 2024
Collegium Pharmaceutical Inc. reported its financial results for the second quarter (Q2) ending June 30, 2024. Below is a comprehensive summary of the financial performance, including key metrics, segment performance, and significant announcements.
Key Financial Metrics
| Metric | Q2 2024 | Q1 2024 | Q2 2023 | YoY Change | QoQ Change | Consensus Estimates | Actual vs Estimates |
|---|---|---|---|---|---|---|---|
| Total Revenue | $145.3M | $144.9M | $135.5M | ↑ 7.2% | ↑ 0.3% | $143.94M | Beat by $1.36M |
| Earnings Per Share (EPS) | $1.54 | $1.51 | $1.45 | ↑ 6.2% | ↑ 2.0% | $1.51 | Beat by $0.03 |
Interpretation: Collegium Pharmaceutical demonstrated solid financial performance in Q2 2024 with revenue reaching $145.3 million, a 7.2% year-over-year (YoY) increase and a slight quarter-over-quarter (QoQ) rise of 0.3%. The earnings per share (EPS) came in at $1.54, beating the consensus estimate of $1.51 and showing an improvement of 6.2% YoY and 2.0% QoQ.
Revenue Breakdown Across Major Segments
| Segment | Q2 2024 Revenue | Q2 2023 Revenue | QoQ Change | YoY Change |
|---|---|---|---|---|
| Belbuca | $56M | $46.9M | ↑19.4% | ↑ 9.1M |
| Xtampza ER | $42.2M | $37.8M | ↑11.6% | ↑ 3.3M |
| Nucynta IR/ER | $23.1M | $26.6M | ↓ 13.5% | ↓ 3.5M |
| Symproic | $7.9M | $7.7M | ↑2.6% | ↑ 0.2M |
| Other | $16.1M | $16.5M | ↓ 2.4% | ↓ 0.4M |
Interpretation: The revenue breakdown indicates that Belbuca, Xtampza ER, and Symproic experienced growth in Q2 2024 compared to the same quarter last year, with Belbuca showing the most significant rise at 19.4%. However, revenues from Nucynta IR/ER witnessed a 13.5% decline. Collectively, the increased performance in key segments contributed to the overall revenue growth.
Dividends and Share Repurchase Program
In January 2024, the company's Board of Directors authorized the repurchase of up to $150 million of the company's common stock through June 30, 2025, under the 2024-2025 Repurchase Program. By the end of Q2 2024, Collegium had repurchased 888,889 shares at an average price of $31.50 per share, totaling $28 million.
Forward Guidance
The report did not provide specific forward guidance figures. However, the company’s performance trajectory and continued share repurchase program suggest a strategic focus on driving shareholder value.
Stock Price Movement After Earnings Release
Following the earnings release, Collegium Pharmaceutical’s stock price experienced a moderate gain, registering a 1.93% increase, reflecting investor optimism in response to the posted results.
Conclusion: Collegium Pharmaceutical Inc. reported robust financial results for Q2 2024 with significant revenue growth in key segments and an upbeat earnings per share metric, boosting market confidence in its strategic operations and financial health.
