Collegium Pharmaceutical Inc (COLL)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	75,733	21,232	-6,119	-30,562	-28,847	-59,932	-52,327	-34,690	-3,374	42,764	45,293	42,606	27,828	18,365	690	-12,326	-22,722	-11,435	-21,828	-30,176
Revenue (ttm)	US$ in thousands	459,924	438,505	430,531	422,636	400,720	314,280	280,041	251,774	255,854	301,783	299,168	291,446	281,134	286,592	361,135	441,180	518,290	515,321	504,149	494,269
Pretax margin		16.47%	4.84%	-1.42%	-7.23%	-7.20%	-19.07%	-18.69%	-13.78%	-1.32%	14.17%	15.14%	14.62%	9.90%	6.41%	0.19%	-2.79%	-4.38%	-2.22%	-4.33%	-6.11%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $75,733K ÷ $459,924K
= 16.47%

The pretax margin of Collegium Pharmaceutical Inc has shown some fluctuation over the past eight quarters. In Q4 2023, the pretax margin improved significantly to 13.36%, indicating that the company was able to generate more income before taxes relative to its overall revenue during that period. This is a positive sign for the company's profitability.

On the other hand, in Q3 2023, the pretax margin was relatively lower at 3.88%, showing a slight decrease in profitability compared to the previous quarter. However, this was still a positive result overall.

The company experienced negative pretax margins in Q2 2023 (-1.14%) and Q1 2023 (-5.82%), which indicates that the company's expenses outpaced its revenues during those periods. This could be a cause for concern as it may indicate potential issues with cost management or declining revenues.

Comparing to the same quarters in the previous year, Collegium Pharmaceutical Inc showed improvements in its pretax margin. In Q4 2022, Q3 2022, Q2 2022, and Q1 2022, the pretax margins were -6.22%, -16.57%, -16.69%, and -12.71% respectively, showing a positive trend of increasing profitability over the quarters in 2023 compared to 2022.

Overall, Collegium Pharmaceutical Inc's pretax margin performance has been mixed over the past eight quarters, with some periods of strong profitability and others indicating challenges. The company should continue to monitor and manage its expenses closely to ensure sustained improvement in its pretax margin going forward.