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Side-by-side financial comparison of COLLEGIUM PHARMACEUTICAL, INC (COLL) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
COLLEGIUM PHARMACEUTICAL, INC is the larger business by last-quarter revenue ($205.4M vs $192.7M, roughly 1.1× SPS COMMERCE INC). SPS COMMERCE INC runs the higher net margin — 13.4% vs 8.3%, a 5.2% gap on every dollar of revenue. On growth, COLLEGIUM PHARMACEUTICAL, INC posted the faster year-over-year revenue change (12.9% vs 12.7%). COLLEGIUM PHARMACEUTICAL, INC produced more free cash flow last quarter ($122.4M vs $38.2M). Over the past eight quarters, COLLEGIUM PHARMACEUTICAL, INC's revenue compounded faster (19.1% CAGR vs 13.5%).
Collegium Pharmaceutical, Inc. is a specialty pharmaceutical firm focused on developing and commercializing innovative, abuse-deterrent pain management therapies. Operating primarily in the U.S. market, it offers extended-release analgesics for chronic pain patients, serving providers across primary and specialty care segments.
SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.
COLL vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $205.4M | $192.7M |
| Net Profit | $17.0M | $25.8M |
| Gross Margin | 62.5% | 70.4% |
| Operating Margin | 29.6% | 18.0% |
| Net Margin | 8.3% | 13.4% |
| Revenue YoY | 12.9% | 12.7% |
| Net Profit YoY | 35.3% | 47.2% |
| EPS (diluted) | $0.48 | $0.69 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $205.4M | $192.7M | ||
| Q3 25 | $209.4M | $189.9M | ||
| Q2 25 | $188.0M | $187.4M | ||
| Q1 25 | $177.8M | $181.5M | ||
| Q4 24 | $181.9M | $170.9M | ||
| Q3 24 | $159.3M | $163.7M | ||
| Q2 24 | $145.3M | $153.6M | ||
| Q1 24 | $144.9M | $149.6M |
| Q4 25 | $17.0M | $25.8M | ||
| Q3 25 | $31.5M | $25.6M | ||
| Q2 25 | $12.0M | $19.7M | ||
| Q1 25 | $2.4M | $22.2M | ||
| Q4 24 | $12.5M | $17.6M | ||
| Q3 24 | $9.3M | $23.5M | ||
| Q2 24 | $19.6M | $18.0M | ||
| Q1 24 | $27.7M | $18.0M |
| Q4 25 | 62.5% | 70.4% | ||
| Q3 25 | 61.7% | 69.5% | ||
| Q2 25 | 57.7% | 68.1% | ||
| Q1 25 | 54.8% | 68.7% | ||
| Q4 24 | 54.0% | 67.5% | ||
| Q3 24 | 60.8% | 68.5% | ||
| Q2 24 | 62.5% | 66.1% | ||
| Q1 24 | 63.1% | 65.6% |
| Q4 25 | 29.6% | 18.0% | ||
| Q3 25 | 29.7% | 16.4% | ||
| Q2 25 | 18.7% | 14.1% | ||
| Q1 25 | 12.2% | 14.3% | ||
| Q4 24 | 20.9% | 14.5% | ||
| Q3 24 | 21.9% | 15.6% | ||
| Q2 24 | 32.7% | 15.1% | ||
| Q1 24 | 34.1% | 10.3% |
| Q4 25 | 8.3% | 13.4% | ||
| Q3 25 | 15.0% | 13.5% | ||
| Q2 25 | 6.4% | 10.5% | ||
| Q1 25 | 1.4% | 12.2% | ||
| Q4 24 | 6.9% | 10.3% | ||
| Q3 24 | 5.9% | 14.3% | ||
| Q2 24 | 13.5% | 11.7% | ||
| Q1 24 | 19.1% | 12.0% |
| Q4 25 | $0.48 | $0.69 | ||
| Q3 25 | $0.84 | $0.67 | ||
| Q2 25 | $0.34 | $0.52 | ||
| Q1 25 | $0.07 | $0.58 | ||
| Q4 24 | $0.36 | $0.46 | ||
| Q3 24 | $0.27 | $0.62 | ||
| Q2 24 | $0.52 | $0.48 | ||
| Q1 24 | $0.71 | $0.48 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $386.7M | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $301.7M | $973.9M |
| Total Assets | $1.7B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $386.7M | $151.4M | ||
| Q3 25 | $285.9M | $133.7M | ||
| Q2 25 | $222.2M | $107.6M | ||
| Q1 25 | $197.8M | $94.9M | ||
| Q4 24 | $162.8M | $241.0M | ||
| Q3 24 | $120.0M | $205.8M | ||
| Q2 24 | $271.6M | $271.8M | ||
| Q1 24 | $318.0M | $290.8M |
| Q4 25 | $301.7M | $973.9M | ||
| Q3 25 | $274.8M | $958.9M | ||
| Q2 25 | $232.2M | $949.8M | ||
| Q1 25 | $234.4M | $920.9M | ||
| Q4 24 | $228.8M | $854.7M | ||
| Q3 24 | $234.3M | $829.4M | ||
| Q2 24 | $216.6M | $703.4M | ||
| Q1 24 | $222.2M | $683.0M |
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.6B | $1.1B | ||
| Q1 25 | $1.6B | $1.1B | ||
| Q4 24 | $1.7B | $1.0B | ||
| Q3 24 | $1.6B | $1.0B | ||
| Q2 24 | $1.1B | $854.5M | ||
| Q1 24 | $1.1B | $839.8M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $123.0M | $45.9M |
| Free Cash FlowOCF − Capex | $122.4M | $38.2M |
| FCF MarginFCF / Revenue | 59.6% | 19.8% |
| Capex IntensityCapex / Revenue | 0.3% | 4.0% |
| Cash ConversionOCF / Net Profit | 7.25× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $327.6M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $123.0M | $45.9M | ||
| Q3 25 | $78.4M | $60.6M | ||
| Q2 25 | $72.4M | $32.3M | ||
| Q1 25 | $55.4M | $40.0M | ||
| Q4 24 | $84.6M | $40.6M | ||
| Q3 24 | $-9.0M | $53.3M | ||
| Q2 24 | $67.4M | $29.4M | ||
| Q1 24 | $61.9M | $34.1M |
| Q4 25 | $122.4M | $38.2M | ||
| Q3 25 | $78.3M | $54.6M | ||
| Q2 25 | $72.4M | $25.7M | ||
| Q1 25 | $54.6M | $33.8M | ||
| Q4 24 | $84.1M | $34.3M | ||
| Q3 24 | $-9.2M | $48.1M | ||
| Q2 24 | $67.1M | $24.4M | ||
| Q1 24 | $61.4M | $30.5M |
| Q4 25 | 59.6% | 19.8% | ||
| Q3 25 | 37.4% | 28.7% | ||
| Q2 25 | 38.5% | 13.7% | ||
| Q1 25 | 30.7% | 18.6% | ||
| Q4 24 | 46.2% | 20.1% | ||
| Q3 24 | -5.8% | 29.4% | ||
| Q2 24 | 46.2% | 15.9% | ||
| Q1 24 | 42.3% | 20.4% |
| Q4 25 | 0.3% | 4.0% | ||
| Q3 25 | 0.1% | 3.2% | ||
| Q2 25 | 0.0% | 3.6% | ||
| Q1 25 | 0.4% | 3.4% | ||
| Q4 24 | 0.3% | 3.6% | ||
| Q3 24 | 0.2% | 3.2% | ||
| Q2 24 | 0.2% | 3.3% | ||
| Q1 24 | 0.4% | 2.4% |
| Q4 25 | 7.25× | 1.78× | ||
| Q3 25 | 2.49× | 2.37× | ||
| Q2 25 | 6.05× | 1.64× | ||
| Q1 25 | 22.92× | 1.80× | ||
| Q4 24 | 6.75× | 2.31× | ||
| Q3 24 | -0.96× | 2.27× | ||
| Q2 24 | 3.44× | 1.63× | ||
| Q1 24 | 2.23× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
COLL
Segment breakdown not available.
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
