GRDN · Guardian Pharmacy Services, Inc.

Guardian Pharmacy Services delivered a strong Q1 2026 with revenue growth of 2% to $336.6 million and significant improvements in profitability, including net income rising to $13.5 million from $9.3 million and Adjusted EBITDA increasing 27% to $29.8 million. Gross profit expanded to $76.3 million from $64.3 million, driven by lower cost of goods sold despite revenue growth, while SG&A expenses rose to $58.6 million. CEO Fred P. Burke highlighted the successful navigation of Inflation Reduction Act pricing resets on branded medications, maintaining margin stability and achieving double-digit Adjusted EBITDA growth amid a 10% increase in residents served to 207,000. The company ended the quarter debt-free with $64.9 million in cash equivalents. Updated FY2026 guidance reflects $3 million in discrete IRA-related benefits and favorable payor dynamics, raising Adjusted EBITDA outlook to $123-$127 million while revenue guidance holds at $1.40-$1.42 billion, excluding acquisitions. In March 2026, a non-dilutive secondary offering of 6.9 million Class A shares boosted public float and liquidity without proceeds to the company or share count change, followed by a new shelf registration for future flexibility.