10-K · March 11, 2026
Guardian reports clear operational inflection in 2025 with strengthening revenue, margins and free cash flow. The company emphasizes a differentiated, tech-enabled, high-touch pharmacy model focused on ALFs and BHFs…
Earnings analysis · 10-Q
GRDN earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Guardian Pharmacy Services reported Q1 2026 revenue of $336.6 million, slightly above estimates of $329.8 million, but diluted EPS of $0.21 missed expectations of $0.24. The company maintained its full-year revenue…
Read full summary
Guardian Pharmacy Services reported Q1 2026 revenue of $336.6 million, slightly above estimates of $329.8 million, but diluted EPS of $0.21 missed expectations of $0.24. The company maintained its full-year revenue guidance of $1.4 billion to $1.42 billion and raised its Adjusted EBITDA guidance to a range of $123 million to $127 million. Key growth drivers included an increase in residents served from 189,000 to 207,000 despite organic revenue declines attributed to price decreases from the Inflation Reduction Act.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.21
What stood out
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Revenue Surpassed Expectations
Q1 2026 reported revenue reached $336.6 million, exceeding estimates of $329.8 million.
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Increase in Residents Served
The number of residents served grew from 189,000 in Q1 2025 to 207,000 in Q1 2026.
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Adjusted EBITDA Guidance Increased
Management raised Adjusted EBITDA guidance from $120-$124 million to $123-$127 million.
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Decline in Cost of Goods Sold Percentage
Cost of goods sold as a percentage of revenue improved from 80.5% to 77.3%.
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Cash Position Relatively Stable
Cash and cash equivalents stood at $64.9 million as of March 31, 2026, slight decrease from $65.6 million.
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Strong Cash Flow from Operating Activities
Net cash provided by operating activities amounted to $17.6 million, despite a decline from $30.6 million in Q1 2025.
What to watch
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EPS Misses Consensus
Diluted EPS of $0.21 fell short of the anticipated $0.24.
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Organic Revenue Decline
Excluding the impact of acquisitions, organic revenue decreased by $11.2 million due to price impacts from the IRA.
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Increased SG&A Expenses
Selling, general and administrative expenses rose by 14.2% compared to the prior year, impacting margins.
Management's outlook
Maintained revenue guidance of $1.4B-$1.42B; Adjusted EBITDA raised to $123M-$127M.
Earlier filings 4
10-Q · August 11, 2025
Guardian reported Q2 revenue of $344,334,000, up $44,297,000 (+14.8%) versus Q2 2024, with gross profit rising to $68,146,000 (gross margin 19.8%). Operating income fell to $12,580,000 (3.7% operating margin) due to…
10-K · March 26, 2025
Guardian positions itself as a purpose-built, technology-enabled LTCF pharmacy focused on higher-growth assisted living and behavioral health markets, emphasizing a high-touch clinical model, proprietary analytics…
10-Q · November 12, 2024
Revenue for the quarter rose to $314.393M, up $51.652M (+19.7%) versus Q3 2023, with gross profit increasing $8.686M to $60.878M (gross margin ~19.4%). However, SG&A and one-time equity-related charges drove an…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.