GRDN earnings analysis
What we found in GRDN's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Surpassed Expectations
- Q1 2026 reported revenue reached $336.6 million, exceeding estimates of $329.8 million.
- Increase in Residents Served
- The number of residents served grew from 189,000 in Q1 2025 to 207,000 in Q1 2026.
- Adjusted EBITDA Guidance Increased
- Management raised Adjusted EBITDA guidance from $120-$124 million to $123-$127 million.
- Decline in Cost of Goods Sold Percentage
- Cost of goods sold as a percentage of revenue improved from 80.5% to 77.3%.
- Cash Position Relatively Stable
- Cash and cash equivalents stood at $64.9 million as of March 31, 2026, slight decrease from $65.6 million.
- 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.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- EPS Misses Consensus
- Diluted EPS of $0.21 fell short of the anticipated $0.24.
- Organic Revenue Decline
- Excluding the impact of acquisitions, organic revenue decreased by $11.2 million due to price impacts from the IRA.
- Increased SG&A Expenses
- Selling, general and administrative expenses rose by 14.2% compared to the prior year, impacting margins.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.21
- Gross margin
- 19.1%
- Operating margin
- 3.9%
What they said about what is next.
Maintained revenue guidance of $1.4B-$1.42B; Adjusted EBITDA raised to $123M-$127M.
The filing reads about the same as the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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