company The XX:XX generated afternoon, XXXX Good Joe. everyone. was position. a cash exited operating We in Thanks, flows. financial robust and profitable strong net
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total to compared returns year $XX.X QX net net the $XXX product product inclusive For were million of reflected and full XXXX aggregate related to XXXX. revenues adjustment product million in revenues performance of million $XXX.X year $XX.X prior fourth obligations XXXX. million were net of the $XX.X Xtampza product year. adjustments quarter returns for to $X.X the in ER in for satisfied revenues XX:XX the million, compared million quarter
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million, $XXX.X exited million EBITDA year for XX:XX $XXX.X million to expenses, of and to the $XXX to growing related compared QX million expenses, $XX.X the litigation full million fourth in of XXXX. net was to operating income with structure. EBITDA quarter fourth compared and the settlements. Net full quarter for compensation loss of XXXX. quarter, the million. to not GAAP compared year. $XXX.X of XXXX and in adjusted compared net million $XX.X expenses XXXX, million in compared the for the including committed leveraging million fourth the and million was Adjusted a year full quarter stock-based the in million full the the fourth $XX.X $XX were to Net year, for cash Non XX.X% XXXX to remain litigation negative were $XXX.X income million down XX:XX XX.X million $XX.X year. full for $X $X.X which XXXX. in full Non-GAAP $XXX.X fourth was for the in quarter operating in was of $X.X adjusted full $X.X to For expenses million year compared cost We expenses the income compared stock-based to XXXX. managing settlements expenses, year Flat quarter $XXX.X and fourth compensation million operating exclude balance include our the of million related We restructuring, million to year XXXX. restructuring
accelerated under During The $XX in of program program our January. the share program. share million million repurchase includes repurchase ASP at $XX.XX, share as we quarter, our XX.X shares shares which concluded is repurchase part in million repurchase XX and authorized an accelerated repurchased
$XX $XX.XX, concluded share $XX.X The includes we AFP as in the which shares repurchase today, our accelerated repurchase share program $XX purchased million million an shares of worth January. in August in As Since of at million program. XX:XX have part inception of of program's repurchase accelerated
As now program's detail since today, and share of have now We repurchase of adjustment. in XX:XX million of more of have remaining. on program worth returns $XX.X an $XXX the $XX.X the provide our August shift purchased we $XX.XX. inception to AFP me million share authorized million Let
for within well there prior product returned month exploration. market XX until to compliance reporting product exploration based return events purposes XXXX, are after physically for The company's the year of December During and product months in on recent ended as and in an in claims, provisions XX XX, level For X relevant policy processing requires return significant context, window, other process returns unprecedented the as up returns financial was disruptions factors. months is beginning XX:XX and the returns. rate,
return than in return of credit. of actual The company significant The resolve claims. enhancing of the the significant the disruption eligible on scared company's within return majority normal unprocessed time concluded returns product the had that XX:XX return business. inclusive collect for monitor returned has This the rendering our of of claims rates unprocessed directly collections represented them after returned the and In returns of that under processing customers that the for the required their ineligible timely claims of in to of products physically sustained failed through company's to litigation During products rate returns to and fit returns, product return and with Collegium engage Due the indirectly significant to timely, refund a not the customers return fourth significant of return XX:XX nights accurately product year. claimed to value to to customers vendor due receive efforts majority during the to wholesale did and third visibility party to increased. XX% value ability vigorously a to company's overall they portion and less these formally ordinary returns product due us return of not the the of physically Our a course processor engaged addition and portion expiration and expects policy necessary. not returns process returns if our return of to claims course. the received the by the its for customers claims. period being policy, in a return of amounts are for pursue resulted quarter XX:XX such We delay denied with also returns
company not returns expects the with in the are products its and denied continue has of claims. deny related uncertainty return Although that to to exists to these policy. for resolution ultimate credit accordance
reduce a million. product the the net as observed recorded situation, result XX:XX increase. this head of claims an by As of for the returns our provision Because returns to impact of of historical wholesaler an in revenues adjustment of product company returned well rates, $XX.X uptick as
increase returns moving guidance. forward rate revenue will approximately we outlook. XXXX estimated to of Going XXXX into Now maintain XX:XX is and X.X%, our our forecasts which factored
issue guidance expectation XXXX. we close saying following Let me for of that company start that will by the is our detailed combined BDSI,
BDSI. and revenue Our we comments total on detailed BDSI include excluding guidance will Collegium total spending exclusively and adjusted expenses plans revenue, make directional also guidance product will provide our EBITDA. operating company for Today,
revenue COVID-XX We driven to an Growth Xtampza to ER. to of revenues XX% approach revenue. assumptions our making total on learnings million on XX:XX by net million, $XXX expect a product XXXX and increase $XXX Revenue in are will deliver be dynamics off improving. taking are XXXX over XX% based We market prudent of no
total contracts remain renegotiating of year for of beginning that the focused will net Xtampza down We to driving by XX% the XXXX. in the on are up growth and in than the renewal less in laser XX% year
financial improvements slightly revenue be assumes continue further moderate in will which expenses, to we discipline, XX:XX impact down, Excluding gross-to-net. flat to to Nucynta on volume and maintain BDSI. of the XXXX operating excluding Directionally declines returns no we expect
keep Our excluding costs year-over-year. OpEx, flat target to compensation stock-based is
We flow post operations throughout close to will from the additional flows cash generate and cash anticipate quickly accelerate generation of year BDSI.
balances building paydown. future Our use current cash cash business our will support of prioritized be development to to and debt near-term
year share We also remaining XXXX on In program today. closing a $XX.X authorized Collegium. for as our have XX:XX repurchase million is pivotal of
post have we strengthen continue close. it to financial as contracts optimize entering integrate Xtampza our and strong We from year and into the BDSI a position ER business will here our
We the and looking of phase are creation, year now to We truly value call ahead. an up I and to will exciting forward in XX:XX open questions. growth am the
