Guardian Pharmacy Services (GRDN) Company Report

Guardian Pharmacy Services (GRDN) reaffirmed its 2025 guidance and issued new guidance for 2026, projecting revenue in the range of $1.4 billion-$1.42 billion and Adjusted EBITDA of $115 million-$118 million.
The company expects Adjusted EBITDA growth to continue at a low double-digit rate in 2026, with the midpoint at $116.5 million, despite the Inflation Reduction Act (IRA) impacting 2026 revenue, which is forecast to be relatively flat compared to 2025.
Guardian Pharmacy Services maintains a 13% national market share in the assisted living facility (ALF) market and plans to continue its multi-pronged growth strategy through organic growth and a disciplined M&A strategy, targeting independent pharmacy operators with $10-30 million in revenue.
The company has a history of consistent growth with a 16% top-line CAGR from 2012-2025 and a healthy balance sheet with virtually zero debt, funding acquisitions with existing cash.

Jan 15, 2026, 12:30 AM

Transcript

Guardian Pharmacy Services Provides 2026 Guidance and Discusses IRA Impact

GRDN

Guidance Update

M&A

New Projects/Investments

Guardian Pharmacy Services (GRDN) issued 2026 revenue guidance in the range of $1.4 billion-$1.42 billion and Adjusted EBITDA guidance of $115 million-$118 million, representing low double-digit Adjusted EBITDA growth from a 2025 midpoint of $105 million.
The company anticipates the Inflation Reduction Act (IRA) will cause 2026 revenue to be relatively flat compared to 2025 due to mandatory drug pricing reductions, but they expect to fully offset the negative impact on Adjusted EBITDA.
GRDN is the market leader in the assisted living facility (ALF) market, serving approximately 140,000 residents and holding a 13% national market share, with a growth strategy focused on organic expansion and M&A targeting independent pharmacies with $10-30 million in revenue.
The company maintains a healthy balance sheet with virtually zero debt and strong cash flow, with a cash conversion rate of approximately 60%, and plans to deploy capital for M&A and greenfield startups rather than share buybacks to increase liquidity.

Jan 15, 2026, 12:30 AM

Transcript

Guardian Provides 2025 and 2026 Financial Outlook and Addresses IRA Impact

GRDN

Guidance Update

New Projects/Investments

Guardian (GRDN) is a leading provider of pharmacy services for Assisted Living Facilities (ALF), serving ~140,000+ ALF Residents and holding a 13% nationwide ALF market share as of September 30, 2025, and June 2025, respectively.
The company has demonstrated a consistent track record of growth, with an estimated revenue CAGR of ~16% from 2012-2025.
For 2025, Guardian provided guidance (reported on 1/13/2026) for revenue between $1.43-$1.45 Billion and Adjusted EBITDA between $104-$106 million, with a 7.4% Adjusted EBITDA Margin.
For 2026, the company projects (reported on 1/13/2026) revenue between $1.40-$1.42 Billion and Adjusted EBITDA between $115-$118 million, with an Adjusted EBITDA Margin of >8%.
The Inflation Reduction Act (IRA) is expected to impact key branded drugs in 2026-2027 due to negotiated lower prices, with Guardian implementing mitigation initiatives such as efficiency improvements and purchasing optimization.

Jan 15, 2026, 12:30 AM

Presentation

Guardian Pharmacy Services Updates 2026 Guidance and Discusses Growth Strategy

GRDN

Guidance Update

M&A

New Projects/Investments

Guardian Pharmacy Services reaffirmed its 2025 guidance and issued new 2026 guidance, projecting revenue between $1.4 billion and $1.42 billion and Adjusted EBITDA between $115 million and $118 million.
The company expects 2026 revenue to be relatively flat compared to 2025 due to the impact of the Inflation Reduction Act (IRA), which eliminated a margin source on branded drugs, but anticipates maintaining low double-digit Adjusted EBITDA growth by overcoming this headwind.
As the market leader in assisted living facility (ALF) pharmacy services, Guardian holds a 13% national market share, serving approximately 140,000 ALF residents, and plans to continue growth through organic expansion and disciplined M&A.
The capital deployment strategy focuses on acquiring smaller, independent pharmacies, typically with $10-30 million in revenue, and the company is not planning a share buyback as it aims to increase liquidity.

Jan 15, 2026, 12:30 AM

Transcript

Guardian Pharmacy Services Reiterates 2025 Guidance and Provides 2026 Outlook

GRDN

Guidance Update

M&A

Guardian Pharmacy Services (GRDN) reiterated its 2025 financial guidance and provided a preliminary outlook for 2026.
For 2025, the company expects revenue between $1.43 billion and $1.45 billion and adjusted EBITDA between $104 million and $106 million.
For 2026, Guardian projects revenue of $1.40 billion to $1.42 billion, reflecting the impact of drug-pricing reforms, and adjusted EBITDA of $115 million to $118 million, representing approximately 11% year-over-year growth and an adjusted EBITDA margin above 8%.
The company also completed the acquisition of a single pharmacy location in Montana at year-end, adding a new territory to its platform.

Jan 13, 2026, 9:41 PM

8-K

Guardian Pharmacy Services Discusses Growth, Market Share, and IRA Impact at Stevens Conference

GRDN

M&A

New Projects/Investments

Revenue Acceleration/Inflection

Guardian Pharmacy Services is a leading long-term care pharmacy provider primarily focused on the assisted living and memory care end markets, holding approximately 13% national market share and targeting expansion to 20-30%.
The company's organic growth is driven by increasing market share, contiguous greenfield startups, and relationships with national and regional accounts, complemented by strategic acquisitions.
The Inflation Reduction Act (IRA) is identified as a significant headwind for 2026, impacting 8 of their top 10 drugs, but Guardian is confident in offsetting the EBITDA decline through direct payer relationships, despite anticipated revenue reduction.
Guardian's operational model emphasizes a 92% generic dispense rate, a tech-enabled platform for medication administration, and data analytics, including a falls risk program, to provide value to assisted living operators and residents.
Acquired pharmacies typically take about four years to reach corporate average profitability, though some, like those in Oregon and Seattle, may integrate faster due to existing systems and immediate synergy implementation.

Nov 19, 2025, 5:00 PM

Transcript

Guardian Pharmacy Services Discusses Growth Strategy and IRA Impact at Stephens Conference

GRDN

New Projects/Investments

M&A

Revenue Acceleration/Inflection

Guardian Pharmacy Services is a leading long-term care pharmacy provider focused on assisted living and memory care, holding approximately 13% national market share and targeting expansion to 20-30%. The assisted living market represents a large total addressable market (TAM) of one million residents.
The company's organic growth strategy includes increasing market share in existing areas, expanding into contiguous greenfield markets, and raising resident adoption rates within facilities from 50-70% to a corporate average of 89-90%.
Inorganic growth is driven by strategic acquisitions, with integration typically taking four years to reach corporate average profitability, though some acquisitions may integrate faster due to operational synergies.
A significant upcoming challenge is the Inflation Reduction Act (IRA), expected to strongly impact long-term care in 2026 by affecting 8 of 10 key drugs for Guardian; however, the company is confident it can offset the EBITDA headwind through direct payer relationships and collaborative partnerships.
Guardian differentiates itself with a 92% generic dispense rate, a tech-enabled platform for safe medication administration by non-nursing caregivers, and sophisticated data analytics, including tools for assisted living operators like a falls risk program.

Nov 19, 2025, 5:00 PM

Transcript

Guardian Pharmacy Services Discusses Growth Strategy, IRA Impact, and Market Dynamics at Stevens 2025 Conference

GRDN

M&A

New Projects/Investments

Guidance Update

Guardian Pharmacy Services is a leading long-term care pharmacy provider focused on the assisted living and memory care end markets, holding approximately 13% national market share and targeting expansion to 20-30%.
The company anticipates a significant impact from the Inflation Reduction Act (IRA) in 2026, affecting eight of ten drugs crucial to its business, but is confident in offsetting the EBITDA headwind despite expected revenue decline.
Organic growth is driven by market share expansion and contiguous greenfield startups, while acquired pharmacies typically take about four years to reach corporate average profitability, though recent acquisitions may integrate faster.
Guardian maintains a 92% generic dispense rate and is exploring adjacent market opportunities in PACE and hospice, with hospice representing a large potential market roughly half the size of assisted living.
The company plans to participate in the bankruptcy process of competitor Omnicare to potentially acquire attractive assets.

Nov 19, 2025, 5:00 PM

Transcript

Guardian Pharmacy Services Reports Strong Q3 2025 Results and Raises Full-Year Guidance

GRDN

Earnings

Guidance Update

M&A

Guardian Pharmacy Services reported strong Q3 2025 financial results, with revenue growing 20% to $377.4 million and Adjusted EBITDA increasing 19% to $27.3 million, yielding an Adjusted EPS of $0.25.
The company raised its full-year 2025 guidance, now expecting revenue in the range of $1.43 billion-$1.45 billion and Adjusted EBITDA between $104 million-$106 million.
Growth was driven by a 13% increase in resident count to 203,766, mid-double-digit organic revenue growth, plan optimization efforts, strong vaccine activity, and contributions from recent acquisitions in Oregon and Washington.
Adjusted EBITDA margins held steady at 7.2%, reflecting the dilutive impact of recent acquisitions and greenfield startups, though underlying core margins from maturing pharmacies continue to expand.
Guardian also noted that it has filed an S-3 shelf registration for up to 6 million shares to provide financial flexibility, with approximately 93% of pre-IPO shares locked up until June 30, 2026.

Nov 10, 2025, 9:30 PM

Transcript

Guardian Pharmacy Services Reports Strong Q3 2025 Results and Raises Full-Year Guidance

GRDN

Earnings

Guidance Update

M&A

Guardian Pharmacy Services reported strong Q3 2025 financial results, with revenue growing 20% to $377.4 million and adjusted EBITDA increasing 19% to $27.3 million, resulting in adjusted EPS of $0.25.
The company raised its full-year 2025 guidance, now expecting revenue between $1.43 billion and $1.45 billion and adjusted EBITDA between $104 million and $106 million.
Strategic growth includes recent acquisitions in Oregon and Washington, expanding its presence in the Pacific Northwest, and contributing to a 13% year-over-year increase in total resident count to 203,766.
Guardian has filed an S-three shelf registration for up to 6 million shares for financial flexibility, while 93% of pre-IPO shares are locked up until June 30, 2026. The company also ended the quarter with $36 million in cash and no debt under its credit facility.