Collegium Pharmaceutical, Inc. reported record financial results for the second quarter ended June 30, 2025, with net revenue reaching $188.0 million, a 29% increase year-over-year. Jornay PM generated record quarterly net revenue of $32.6 million, with prescriptions growing by 23% year-over-year. The pain portfolio also contributed significantly, with $155.4 million in net revenue, up 7% year-over-year, with all three core products showing growth.
Following encouraging performance in the first half of the year, Collegium raised its full-year 2025 net revenue guidance to a new range of $745 million to $760 million. Adjusted EBITDA guidance was also increased to a range of $440 million to $455 million. This updated outlook reflects anticipated strong performance for Jornay PM, with net revenue expected between $140 million and $145 million.
The company ended the second quarter with a robust cash, cash equivalents, and marketable securities balance of $222.2 million. Collegium also completed a $25 million accelerated share repurchase program in July and authorized a new $150 million share repurchase program through December 2026, demonstrating its commitment to disciplined capital deployment and shareholder value.
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