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Side-by-side financial comparison of COLLEGIUM PHARMACEUTICAL, INC (COLL) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $205.4M, roughly 1.9× COLLEGIUM PHARMACEUTICAL, INC). COLLEGIUM PHARMACEUTICAL, INC runs the higher net margin — 8.3% vs -1.9%, a 10.2% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs 12.9%). Over the past eight quarters, COLLEGIUM PHARMACEUTICAL, INC's revenue compounded faster (19.1% CAGR vs 10.2%).
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.
Innovate Corp. is an American public financial services company founded in 1994.
COLL vs VATE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $205.4M | $382.7M |
| Net Profit | $17.0M | $-7.4M |
| Gross Margin | 62.5% | 15.4% |
| Operating Margin | 29.6% | 3.7% |
| Net Margin | 8.3% | -1.9% |
| Revenue YoY | 12.9% | 61.7% |
| Net Profit YoY | 35.3% | 55.4% |
| EPS (diluted) | $0.48 | $-0.57 |
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 | $382.7M | ||
| Q3 25 | $209.4M | $347.1M | ||
| Q2 25 | $188.0M | $242.0M | ||
| Q1 25 | $177.8M | $274.2M | ||
| Q4 24 | $181.9M | $236.6M | ||
| Q3 24 | $159.3M | $242.2M | ||
| Q2 24 | $145.3M | $313.1M | ||
| Q1 24 | $144.9M | $315.2M |
| Q4 25 | $17.0M | $-7.4M | ||
| Q3 25 | $31.5M | $-8.9M | ||
| Q2 25 | $12.0M | $-19.8M | ||
| Q1 25 | $2.4M | $-24.5M | ||
| Q4 24 | $12.5M | $-16.6M | ||
| Q3 24 | $9.3M | $-15.0M | ||
| Q2 24 | $19.6M | $14.4M | ||
| Q1 24 | $27.7M | $-17.4M |
| Q4 25 | 62.5% | 15.4% | ||
| Q3 25 | 61.7% | 14.3% | ||
| Q2 25 | 57.7% | 18.8% | ||
| Q1 25 | 54.8% | 16.6% | ||
| Q4 24 | 54.0% | 19.6% | ||
| Q3 24 | 60.8% | 19.9% | ||
| Q2 24 | 62.5% | 21.0% | ||
| Q1 24 | 63.1% | 15.4% |
| Q4 25 | 29.6% | 3.7% | ||
| Q3 25 | 29.7% | 1.8% | ||
| Q2 25 | 18.7% | 2.0% | ||
| Q1 25 | 12.2% | 1.2% | ||
| Q4 24 | 20.9% | 1.1% | ||
| Q3 24 | 21.9% | 2.4% | ||
| Q2 24 | 32.7% | 9.2% | ||
| Q1 24 | 34.1% | 0.9% |
| Q4 25 | 8.3% | -1.9% | ||
| Q3 25 | 15.0% | -2.6% | ||
| Q2 25 | 6.4% | -8.2% | ||
| Q1 25 | 1.4% | -8.9% | ||
| Q4 24 | 6.9% | -7.0% | ||
| Q3 24 | 5.9% | -6.2% | ||
| Q2 24 | 13.5% | 4.6% | ||
| Q1 24 | 19.1% | -5.5% |
| Q4 25 | $0.48 | $-0.57 | ||
| Q3 25 | $0.84 | $-0.71 | ||
| Q2 25 | $0.34 | $-1.67 | ||
| Q1 25 | $0.07 | $-1.89 | ||
| Q4 24 | $0.36 | $-0.72 | ||
| Q3 24 | $0.27 | $-1.18 | ||
| Q2 24 | $0.52 | $1.03 | ||
| Q1 24 | $0.71 | $-2.21 |
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 | $112.1M |
| Total DebtLower is stronger | — | $80.3M |
| Stockholders' EquityBook value | $301.7M | $-240.1M |
| Total Assets | $1.7B | $950.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $386.7M | $112.1M | ||
| Q3 25 | $285.9M | $35.5M | ||
| Q2 25 | $222.2M | $33.4M | ||
| Q1 25 | $197.8M | $33.3M | ||
| Q4 24 | $162.8M | $48.8M | ||
| Q3 24 | $120.0M | $51.0M | ||
| Q2 24 | $271.6M | $80.2M | ||
| Q1 24 | $318.0M | $38.4M |
| Q4 25 | — | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | — | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | — | $641.5M |
| Q4 25 | $301.7M | $-240.1M | ||
| Q3 25 | $274.8M | $-233.3M | ||
| Q2 25 | $232.2M | $-224.8M | ||
| Q1 25 | $234.4M | $-204.2M | ||
| Q4 24 | $228.8M | $-180.4M | ||
| Q3 24 | $234.3M | $-163.1M | ||
| Q2 24 | $216.6M | $-149.0M | ||
| Q1 24 | $222.2M | $-184.4M |
| Q4 25 | $1.7B | $950.1M | ||
| Q3 25 | $1.6B | $913.2M | ||
| Q2 25 | $1.6B | $890.9M | ||
| Q1 25 | $1.6B | $868.0M | ||
| Q4 24 | $1.7B | $891.1M | ||
| Q3 24 | $1.6B | $897.2M | ||
| Q2 24 | $1.1B | $898.9M | ||
| Q1 24 | $1.1B | $943.5M |
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 | $101.1M |
| Free Cash FlowOCF − Capex | $122.4M | — |
| FCF MarginFCF / Revenue | 59.6% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | 7.25× | — |
| TTM Free Cash FlowTrailing 4 quarters | $327.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $123.0M | $101.1M | ||
| Q3 25 | $78.4M | $19.2M | ||
| Q2 25 | $72.4M | $40.4M | ||
| Q1 25 | $55.4M | $-14.1M | ||
| Q4 24 | $84.6M | $41.4M | ||
| Q3 24 | $-9.0M | $-28.4M | ||
| Q2 24 | $67.4M | $21.5M | ||
| Q1 24 | $61.9M | $-25.4M |
| Q4 25 | $122.4M | — | ||
| Q3 25 | $78.3M | $19.0M | ||
| Q2 25 | $72.4M | — | ||
| Q1 25 | $54.6M | $-18.8M | ||
| Q4 24 | $84.1M | $34.2M | ||
| Q3 24 | $-9.2M | $-31.5M | ||
| Q2 24 | $67.1M | $18.4M | ||
| Q1 24 | $61.4M | $-31.0M |
| Q4 25 | 59.6% | — | ||
| Q3 25 | 37.4% | 5.5% | ||
| Q2 25 | 38.5% | — | ||
| Q1 25 | 30.7% | -6.9% | ||
| Q4 24 | 46.2% | 14.5% | ||
| Q3 24 | -5.8% | -13.0% | ||
| Q2 24 | 46.2% | 5.9% | ||
| Q1 24 | 42.3% | -9.8% |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.1% | 0.1% | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.4% | 1.7% | ||
| Q4 24 | 0.3% | 3.0% | ||
| Q3 24 | 0.2% | 1.3% | ||
| Q2 24 | 0.2% | 1.0% | ||
| Q1 24 | 0.4% | 1.8% |
| Q4 25 | 7.25× | — | ||
| Q3 25 | 2.49× | — | ||
| Q2 25 | 6.05× | — | ||
| Q1 25 | 22.92× | — | ||
| Q4 24 | 6.75× | — | ||
| Q3 24 | -0.96× | — | ||
| Q2 24 | 3.44× | 1.49× | ||
| Q1 24 | 2.23× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
COLL
Segment breakdown not available.
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
