diff --git a/Makefile b/Makefile
index 09d418f..0beaad2 100644
--- a/Makefile
+++ b/Makefile
@@ -1,6 +1,6 @@
 PROJECT_SHORTNAME ?= keydb
 VERSION ?= 0.3.27
-COLLECTION_VERSION ?= 0.4.31
+COLLECTION_VERSION ?= 0.4.38
 OPERATOR_TYPE ?= ansible
 PROJECT_TYPE ?= $(OPERATOR_TYPE)-operator
 COMMUNITY_OPERATOR_NAME ?= keydb-operator