Guardian Pharmacy Services Reports Strong Q4 and Full Year 2025 Results, Raises 2026 Guidance

Highlights Robust Growth, Improved Profitability, and Strategic Progress

ATLANTA, March 11, 2026 –
Guardian Pharmacy Services, Inc. (NYSE: GRDN), a leading long-term care (LTC) pharmacy services provider, has announced outstanding financial and operational results for the fourth quarter and full year ended December 31, 2025. The company also raised its 2026 Adjusted EBITDA guidance, reflecting strong momentum and confidence in its operating model.

Key Financial Highlights

• Q4 2025 Results:
  • Revenue: \$397.6 million, up 17% year-over-year (organic growth: 12%)
  • Residents served: Approximately 205,000, up 10% year-over-year
  • Net Income: \$21.3 million, up 81% from Q4 2024
  • Adjusted EBITDA: \$39.5 million, up 53% from Q4 2024
  • Diluted EPS: \$0.33; Adjusted EPS: \$0.37
• Full Year 2025 Results:
  • Revenue: \$1.45 billion, up 18% from \$1.23 billion in 2024 (organic growth: 13%)
  • Net Income: \$49.0 million, a major turnaround from a loss of \$71.0 million in 2024
  • Adjusted EBITDA: \$115.1 million, up 27% from \$90.8 million in 2024
  • Diluted EPS: \$0.78; Adjusted EPS: \$1.07
  • Cash and cash equivalents: \$65.6 million at year end, up from \$4.7 million at the end of 2024

Strategic and Operational Developments

• Acquisitions: Guardian acquired North Ridge Pharmacy in Missoula, Montana, expanding its full-service pharmacy count to 54.
• Vaccine Clinics: Prescription vaccine volumes grew 3% YoY in Q4 and 9% for the full year. Over 120,000 residents were vaccinated in 2025. Profitability in vaccine clinics improved due to better purchasing, reimbursement, labor economics, and operational execution.
• Capital Efficiency: Annualized return on equity reached approximately 27% in 2025, highlighting strong capital efficiency.
• Strong Balance Sheet: Ended 2025 with \$65.6 million in cash and no long-term debt under its \$75 million credit facility, providing significant liquidity and financial flexibility.

2026 Outlook: Raised Adjusted EBITDA Guidance

• Revenue Guidance: \$1.40 billion – \$1.42 billion (unchanged from prior guidance)
• Adjusted EBITDA Guidance: Raised to \$120 million – \$124 million (previously \$115 million – \$118 million)

The company is not incorporating potential upside from favorable Q4 payor dynamics and quarter-to-quarter variability into its 2026 outlook, reflecting a disciplined approach to guidance.

Management Commentary

“2025 was a year of broad-based execution and disciplined investment, with results that exceeded our expectations across resident, revenue, and Adjusted EBITDA growth,” said Fred Burke, President and CEO. “We exited the year with strong momentum and are accordingly raising our outlook for 2026 Adjusted EBITDA in a measured manner, consistent with our philosophy of guiding to what we can clearly see. We remain confident in the durability of our operating model and our ability to deliver sustained, long-term value for our shareholders.”

Other Notable Details for Investors

• Shareholder Value: The company’s robust growth, profitability improvements, cash generation, and capital efficiency are all positive signals for shareholders and could be price-sensitive.
• Return on Equity: The 27% ROE is well above many industry peers, suggesting efficient use of capital and potential for enhanced shareholder returns.
• Balance Sheet Strength: No long-term debt and a significant increase in cash position reduce financial risk and provide flexibility for future investments or potential shareholder returns.
• Acquisition Strategy: Continued acquisitions and greenfield expansion support long-term growth and market share gains.
• Regulatory Environment: The company is entering 2026 with the initial phase of new IRA drug pricing changes. Management is maintaining its revenue outlook, indicating confidence in navigating regulatory shifts.
• Non-GAAP Metrics: Investors should note the company’s heavy use of Adjusted EBITDA, Adjusted Net Income, and Adjusted EPS. These provide valuable insight into core operating performance but exclude significant items such as share-based compensation, legal and regulatory matters, and other non-recurring costs.

Risks and Forward-Looking Statements

The company’s forward-looking statements are subject to various risks, including execution of business strategies, market competition, relationships with LTCFs and payors, regulatory changes, supply chain disruptions, and more. Investors should carefully review the company’s latest SEC filings for a comprehensive risk assessment.

Conclusion: What May Move the Share Price

• Raised 2026 Adjusted EBITDA guidance signals strong momentum and may be positively received by investors.
• Significant turnaround in profitability and cash generation in 2025 could drive positive sentiment.
• Continued acquisition activity and expansion of pharmacy network support long-term growth prospects.
• Improved vaccine clinic profitability and increased resident base highlight operational excellence and scalability.
• Zero long-term debt and robust liquidity minimize financial risk and provide flexibility for growth or shareholder returns.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. All forward-looking statements are subject to risks and uncertainties as detailed in Guardian Pharmacy Services’ SEC filings. Investors should conduct their own due diligence before making investment decisions.

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