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Guardian Pharmacy Services, Inc. Stock Price: Quote, Forecast, Splits & News (GRDN)

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Company Profile

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Guardian Pharmacy Services, Inc. Price & Performance (GRDN)

Stock Performance

Updated Mar 26, 8:00 PM UTC

GRDN:NYSE

$20.23USD

0.49% · $0.10

After Hours

-6.38% · $1.29

Open

$20.44

High

$20.70

Low

$19.37

Market Cap

$1.28B

P/E Ratio

-14.4

Volume

198.00K

Year High

$25.74

Year Low

$14.16

News & Market Insights

Guardian Pharmacy's Q4 Revenue Soars by 20% Amid Expansion
Mar 26, 2025
Guardian Pharmacy Services reported a 20% year-over-year revenue increase in Q4 2024, reaching $338.6 million. The growth was driven by acquisitions and organic expansion, including a 14% rise in resident count. Adjusted EBITDA also surged 30%, reflecting operational improvements. The company projects 2025 revenue between $1.33 billion and $1.35 billion.123
Stock Lock-Up Expiration Opens Trading for Guardian Pharmacy Insiders
Mar 13, 2025
Following the expiration of its IPO lock-up period on March 25, Guardian Pharmacy insiders can now trade shares. The company initially offered 8 million shares at $14 each in September. With shares closing at $20.48 before the lock-up ended, insiders and early investors may capitalize on the stock’s growth.456
Guardian Pharmacy Ends 2024 Debt-Free Amid Strong Financial Results
Mar 26, 2025
Guardian Pharmacy closed 2024 with no outstanding debt, supported by IPO proceeds. Q4 revenue rose 20% to $338.6 million, while adjusted EBITDA grew 30%. The company also expanded its credit facility to $75 million, positioning itself for future growth through organic initiatives and acquisitions.738

What's Happening

Earnings

Report Date

Mar 26, 2025

Reported Revenue

338.6M

Avg 1d Change

3.77%

Report Period

Q4 2024

Reported EPS

0.24

Implied Move 1d

—

Transcript

11m 21s

This afternoon's call is being recorded and a replay of call will be available later today. I'm now pleased to introduce the President and CEO of Guardian Pharmacy, Fred Burke. Welcome to Guardian Pharmacy's Fourth Quarter and full year twenty twenty four earnings call. On today's call, I'll share financial highlights, review some of the accomplishments we achieved in 2024 and share some commentary on what to expect for 2025. Starting with the fourth quarter highlights, I'm pleased to share strong results today which include revenue of $339,000,000 an increase of 20% year on year Resident count at the end of the quarter of approximately 186,000 a 14% increase from the fourth quarter last year. And adjusted EBITDA of $26,000,000 representing an increase of 30% compared to last year's quarter. And for the full year, 2024, we generated revenue of 1,228,000,000.000 increase of 17% over last year and adjusted EBITDA of 91,000,000 up 19% year over year. In terms of 2024 miles Guardian Pharmacy achieved several significant milestones.

13m

We expanded our footprint by adding nine new pharmacy locations through a combination of M and A and greenfield startups. And began the process of bringing them up on the Guardian platform. David will update you on progress in these new markets. We continue to operationally streamline our COVID flu vaccination clinics that our facility operators expect us to provide for the residents and staff. Historically, the process was a huge operational challenge for our organization and a significant profitability headwind After the 2023 vaccine season, we formed a cross functional task force to address the issue. David will elaborate, but I am very proud of that team. And I'm pleased to report we turned a profit headwind into a slight profit tailwind a significant improvement for the recently completed 2024 vaccine season. I'd be remiss not to mention that six months ago to the day we began our new life as a public company. With the successful launch of our IPO. The organization has responded nicely and is enjoying this new challenge. The core business remains strong. As we saw high single digit organic growth augmented by significant M and A. Stable gross margins and operating leverage. These accomplishments demonstrate a strong start to our time in the public markets, and we feel confident that this success will only continue to grow over time.

14m 56s

Looking ahead to the rest of 2025, David will speak to our guidance momentarily, However, we're very optimistic about 2025 and beyond. We're excited to be the leading long term care pharmacy in the nation for assisted living and memory care and further believed we are positioned well. We have a 12% market share which to us means 88% to go One important topic for '25 is the potential impact of inflation Reduction Act. On 2026 and beyond. We're working diligently on navigating this possible headwind 2026 taking a multipronged approach to finding a solution including working closely with federal policymakers and our PBM partners. All parties seem amenable to working with us to find a viable solution and we remain confident that we can successfully mitigate any headwinds. We'll continue to update you on our progress. Let me take a moment to recap Guardian's secret sauce. Our solutions focus on the specific and differentiated needs of residents in assisted living and behavioral health facilities, both attractive and high growth end markets.

16m 28s

These types of facilities require a completely different array of services than skilled nursing. Which is what most long term care pharmacies are set up to serve. In contrast, Guardian is purpose built to serve the very different needs of assisted living. We provide an extensive suite of tech enabled services designed to help ensure the residents adhere to their appropriate drug regimen. Which helps reduce the cost of care and improve clinical outcomes. We execute on a successful multipronged organic greenfield and acquisition growth strategy to increase our market share. Our management team is highly experienced with a legacy of industry thought leadership and operational excellence. Our company is 35% employee owned.

17m 26s

Which we feel drives our teams to provide outstanding service to our customers and excellent financial performance. We believe very deeply in the power of human capital to drive growth. One unique I think underappreciated aspect of Guardian is the emphasis we place on developing the talent of our operators and the focus on alignment of their goals with the company's overarching mission. I was just in Phoenix last week for our national management meeting and got to spend time with our pharmacy management teams. It was incredibly uplifting to be with such a dedicated group who cares so much for the residents we serve and who are dedicated to making sure Guardian is an ongoing sustainable business. Which in turn will allow us to continue these important services we render to our frail and elderly residents. I am impressed with the experience and ability of our team Each pharmacy is run by a core group made up of a President and three functional directors. This team is responsible for sales, marketing, staffing, operations, logistics, billing, collections, etcetera. Essentially, they are general managers running their own business with its own P and L. I truly believe that this decentralized entrepreneurial approach is unique in the pharmacy industry.

19m 6s

We seriously consider culture and fit when bringing on new team members and also when making an acquisition. The average tenure of our pharmacy leadership is north of a decade. And we have experienced virtually no voluntary turn We invest in training of our teams. Each of our operators are fantastic clinical professionals in their own right. When they come aboard. We then focus on building business skills creating top notch general managers. And in terms of the alignment of goals, we recently rolled out our new long term incentive plan Remember that our employees own roughly 35% of the company. This structure ensures alignment and striving to grow the business. As an example, over the past two years, we've launched greenfield startups in six contiguous markets. And those opportunities were both identified and driven by our local operators, who saw the need and organically opened up a greenfield startup pharmacy in a contiguous market. In fact, over a dozen of our key management teams have launched expansions into 20 contiguous markets in the history of the company. As a result of this deep bench and close alignment, we're confident in our ability execute on our growth strategy. Our team is enthused and aligned leaving us well positioned with a team that's ready to take on the exciting opportunities of the future.

20m 52s

In conclusion, all in all, I'm pleased to have another positive report for you all. We're proud of the results we delivered and are very excited for the year ahead with lots of runway to execute on our plans. Now I'll turn the call over to David to review the quarter in greater detail. David? Good afternoon, and thank you for joining the call today.

21m 20s

I'll share the highlights for the full year 2024. The fourth quarter and then provide additional color on our 2025 guidance. For the fourth quarter, of 2024, revenue increased 20.5% to $338,600,000 driven by organic growth, the Heartland and Freedom acquisitions and the vaccine clinic seasonality that Fred had mentioned earlier. Residence count grew 14% a 86,000 adjusted EBITDA grew 30.3% year over year to 25,900,000 representing a margin of 7.6%. Including over $1,000,000 in public company costs versus non in the course of 2023. Turning to the balance sheet, we ended the fourth quarter with $4,700,000 in cash, The outstanding balance on our credit facility ended the year at zero as the term note and line of credit were paid off with IPO proceeds. Looking forward, we have $40,000,000 available under our line of credit with the ability to increase the overall credit facility up to 75,000,000 Now turning to a look at our full year financial highlights. Revenue reached $1,228,000,000 a 17.4% increase driven by organic growth acquisitions of Heartland and Freedom pharmacies and seasonal vaccine clinics. Our gross margin remained stable at 19.9% adjusted EBITDA grew 19.2% year over year to 90,100,000.0 representing a margin of 7.4%.

23m 22s

And as I mentioned before, this includes over $1,000,000 of public company cost versus none in 2023. Let me remind you, we added nine locations in 2024, These locations are various points of scale and are contributing very little to the bottom line. And as I mentioned before, we successfully paid off our term loan. In addition to the strong financial results, I'd like to expand a few of the key initiatives that Fred mentioned. We expanded our footprint by adding nine new pharmacy locations through a combination of M and A and greenfield startups. We completed two traditional M and A transactions adding five new locations. The first, Heartland Pharmacy, added four operating in the Intermountain West, Idaho, Utah and Colorado. And the other a single location in the New Jersey market. Additionally, we added four new locations via greenfield bolt on transactions in contiguous markets. We are pleased with the progress of the new pharmacy locations We're on track and slightly ahead of our typical three to four year timeline for new pharmacies reaching mature Guardian profitability levels. We created a COVID flu cross functional task force that transformed an expected operationally complex unprofitable vaccine process into less on or a slightly profitable venture that greatly benefits the communities and residents we serve.

25m 8s

Post COVID LTC pharmacies were expected to administer flu and COVID vaccines, which added an extremely complex operational challenge for our pharmacies and historically a profitability headwind. In 2024, Guardian launched a task force focused on improving supply chain logistical and reimbursement challenges. We're proud of that team's work and glad to report they were successful. The $12,000,000 of revenue from the operating clinics in Q4 of twenty four was a slight increase year on year, but the more meaningful financial impact relates to profitability and the year on year swing from a profitability headwind to one of being marginally profitable in 2024. We expect vaccine dispensing to grow and remain profitable However, as the business grows, we do not expect comparable year on year improvement. In profitability. Finally, I'll touch on guidance before opening the call to questions. We will be reiterating the guidance outlook that we provided in our preliminary release on March 3. For the full year 2025, we expect revenue of 1,330,000,000.00 to 1,350,000,000.00 and adjusted EBITDA of 97,000,000 to 101,000,000 To add some additional color, these guidance ranges take into consideration the following. The midpoint of this range suggests a growth rate of 9% and this guidance only includes current pins on the map.

26m 55s

It doesn't include future acquisitions or contiguous startups which both are an essential part of our growth strategy. Our pipeline remains strong. Historically, we've completed about two acquisitions a year which results in new pens on the map and territory expansion. Keep in mind this broader market landscape consists of approximately 1,000 independent pharmacies in The U. S. But given our strict M and A criteria, only a couple of hundred meet our standards to be considered actual targets.

27m 31s

We remain highly selective focusing on human capital regional sales alignment, and operating metrics when evaluating potential opportunities. We are confident high single digit organic growth coupled with M and A will yield a long term growth rate in the mid to low teens. Gross margins remain fairly steady, approximately 20% on an annual basis Additionally, we plan to continue to achieve leverage in 2025 even though the year will include a full year of public company cost of around 4,000,000 compared to just one quarter of those related expenses in 2024. In concluding, I'd like to reiterate Fred's sentiment that we are proud of the strong 2024 results and are looking forward to the remainder of 2025. The business continues to scale in many ways. Acquisitions continue to be integrated into Guardian operations contiguous startups continue to mature, we continue to leverage the core business platform. We have the people and operations in place to ensure sustainable organic growth in the years ahead and plan to execute on the plans we've laid out for you. With that, I'll open the call to questions. Operator?

29m 1s

Ladies and Your first question comes from the line of Parker Stoner from Raymond James. Your line is now open.

29m 39s

Hey, how's it going guys? Yes, this is Parker on for John Ransom.

29m 44s

Just as we think about the earnings bridge from 24% to 25%, what are some of the puts and takes that we should consider Obviously, as you mentioned, the, you know, annualization of the public company costs, anything else that we should consider in there? Know, the Heartland acquisition, I know you did another deal on the quarter that you mentioned. Anything else that you would call out in that bridge?

30m 10s

Hey, Parker. How you doing?

30m 13s

Doing good.

30m 14s

Good. Good to have you on here.

30m 16s

I think we've laid out strong organic growth in the high single digits coupled with our M and A activity yields something in the low double digits. We're comfortable with that. It's pretty much steady as we go. Looking from 24% to 25 and continue to push to achieve additional leverage. Okay.

30m 43s

And then maybe if you can just expand on some of your you're having with your PBM partners related to some of the IRA issues and just some of the other things. Looking out. I mean, maybe just speak, you know, a little more broadly, how you're feeling about the progress [indiscernible] And, anything else that you would note?

31m 2s

You know, as it relates to the IRA, obviously, we've been talking about this for some time beginning in summer of twenty twenty four. And as Fred laid out, we continue to be comfortable with the products process. We're engaged discussing it. Issues have been acknowledged and we're comfortable that we're gonna be able to mitigate and work our way through Okay. And if I can just get one last one. From all data points that we can track, it seems like the flu season persisted much longer than normal, well into, you know, kind of mid to late February. There anything that we should consider there in terms of first quarter modeling or seasonality or how that might impact your business?

31m 50s

I don't think so. If you look at how our population works with the flu vaccine, we inoculate almost every resident that we serve in our communities Therefore, the severity of the season whether it's more severe or less doesn't really impact how many people actually that we administer the vaccines to. So I don't think anything material related to the severity of the season.

32m 21s

Yeah. This is Brett Parker. I'll I'll add one other comment, which is [indiscernible] someone could receive a prescription for Tamiflu or the case of an infection, an antibiotic, but it's at the margin.

32m 40s

Okay. Great. Appreciate it.

32m 46s

Your next question comes from the line of David MacDonald from Truist. Please go ahead.

32m 52s

Good afternoon, guys.

32m 53s

A couple of quick questions. Wanted to, come back to the IRA just for a second and it different angle. I'm just curious if some of the changes there has in any way impacted your pipeline of potential m and a opportunities?

33m 14s

Or any other impacts that you'd call out just on the pipeline, whether it's, you know, seeing more opportunities, potentially seeing pricing move around a little bit just anything that you'd call out there?

33m 26s

Hey, David. This is David. I think as we've talked about our M and A pipeline continues to be robust. With the select, you know, operators out there that fit the criteria that we're looking for. And I would say the IRA you know, hasn't affected it greatly. I know it's on people's mind as we're talking to them about it. So I would I would say it hasn't hurt, but it could have helped slightly. But our our pipeline remains very robust.

34m 3s

Okay. And then just to follow-up on Parker's question just with regards to your PBM partners. I don't know if you guys want to get into this level of detail, but just curious, has there been any tweaks to how you guys are contracting? Any conversations around that? You know, any kind of movement more towards generics? Just did any high level comments that you would make with regards to that?

34m 30s

I'll I'll jump in, David. Good to hear your voice. Thank you for joining today. Obviously, it would be inappropriate for us to comment on details related to our negotiations with the PBMs.

34m 44s

But yes, all those things are on the on the table that we're considering and discussing with them to the The takeaway for you, I think, is very importantly that the PBMs are acknowledging the issue and are engaged with us in solving it. So we're heartened about that. We'll keep you posted as we move forward.

35m 10s

Okay.

35m 10s

And then guys, just one other quick year over year question. With regards to the improvement, some of the vaccine stuff, I'm just curious, did that ramp over the course of the year? Or was that you know, improvement in 2024? Basically, what I'm asking is is there some annualization of that year over year improvement that creates a modest incremental tailwind in 2025 relative to 'twenty four. Heard your commentary about not same rate of change, but is there a little bit of a tailwind benefit from just the annualization of that?

35m 48s

You know, the benefit of the flu COVID vaccine was majority in q four. So Okay. And as it ramps into '25, we'll see the flu. We talked about the 12,000,000 of revenue that will grow at the same rate of the overall business. And the profitability is slightly less than our core business So there there's not a huge tailwind that would need to be factored in.

36m 18s

Okay.

36m 20s

We're calling it out to help you understand the performance in q four. It moving from a negative to a positive, you know, was a influence on our q four. EBITDA growth.

36m 38s

Okay.

36m 39s

Very much.

36m 44s

Your last question comes from the line of Scott Fidel from Stephens. Please go ahead.

36m 50s

Hi. This is Raj on for Scott.

36m 53s

Had a quick one on kind of observed drug mix trends in the quarter, maybe anything to call out there and kind of what's embedded from a pricing perspective in the 2025 guidance?

37m 10s

Hey, Raj. Good to hear your voice and thanks for joining here. As we look to '25, nothing substantial is changing on horizon. The drug mix, reimbursement, everything is relatively steady as we look to '25.

37m 31s

Great. Thank you. And then just as a follow-up, I know the company has some kind of more pilot initiatives around more kind of clinical intervention types of services and some like fall risk management and disease state management. Maybe kind of kind of update on that playbook so far and what kind of progress do you guys expect to make there on that front in 2025?

37m 56s

I'll speak to that Raj. We are so proud of our data analytics team working closely with our clinical team to bring these value added services and products, you know, to our customers.

38m 12s

And it is so exciting. They're continuing to move forward with that. Making great progress And I think our customers are enthused about it as well. So we're we're excited about that.

38m 29s

Alright. Great. Thank you. That's all for me.

38m 34s

There are no further questions at this time. I'd like to turn the call over to Fred Burke for closing comments. Sir, please go ahead.

38m 42s

Just a quick word of thanks to everyone who's joined really appreciate your interest in our company and for you joining the call today. Thanks very much, and with that, we'll say goodbye.

38m 58s

This concludes today's conference call. Thank you very much for your participation.

39m 2s

You may now disconnect.

Key Insights

Guardian Pharmacy reported strong financial results for Q4 2024, with revenue of $339 million (up 20% YoY), adjusted EBITDA of $26 million (up 30% YoY), and a resident count increase of 14% to 186,000. Full-year 2024 revenue reached $1.228 billion (up 17% YoY) with adjusted EBITDA of $91 million (up 19% YoY).
The company expanded its footprint in 2024 by adding nine new pharmacy locations through M&A and greenfield startups, with progress slightly ahead of the typical 3-4 year timeline for profitability.
Guardian successfully turned its COVID/flu vaccination clinics from a profitability headwind into a marginally profitable venture in 2024, contributing $12 million in Q4 revenue. Vaccine dispensing is expected to grow but with stable profitability in 2025.
For 2025, the company provided guidance of $1.33-$1.35 billion in revenue and $97-$101 million in adjusted EBITDA, reflecting a growth rate of approximately 9%. This guidance excludes potential future acquisitions or contiguous startups, which remain a key part of the growth strategy.
Guardian continues to focus on high single-digit organic growth, M&A opportunities, and leveraging its differentiated service model for assisted living and memory care facilities. The company is also addressing potential headwinds from the Inflation Reduction Act for 2026 and beyond through collaboration with PBM partners and policymakers.

Recent Transcripts

Guardian Pharmacy reports 20% revenue and EBITDA growth in Q3 2024.

Go Deeper

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OverviewOverview
News & Market InsightsNews & Market Insights
EarningsEarnings
RelatedRelated

Earnings

Report Date

Mar 26, 2025

Reported Revenue

338.6M

Avg 1d Change

3.77%

Report Period

Q4 2024

Reported EPS

0.24

Implied Move 1d

—

Transcript

11m 21s

13m

14m 56s

16m 28s

17m 26s

19m 6s

20m 52s

21m 20s

23m 22s

25m 8s

26m 55s

27m 31s

29m 1s

Ladies and Your first question comes from the line of Parker Stoner from Raymond James. Your line is now open.

29m 39s

Hey, how's it going guys? Yes, this is Parker on for John Ransom.

29m 44s

30m 10s

Hey, Parker. How you doing?

30m 13s

Doing good.

30m 14s

Good. Good to have you on here.

30m 16s

30m 43s

31m 2s

31m 50s

32m 21s

32m 40s

Okay. Great. Appreciate it.

32m 46s

Your next question comes from the line of David MacDonald from Truist. Please go ahead.

32m 52s

Good afternoon, guys.

32m 53s

33m 14s

33m 26s

34m 3s

34m 30s

I'll I'll jump in, David. Good to hear your voice. Thank you for joining today. Obviously, it would be inappropriate for us to comment on details related to our negotiations with the PBMs.

34m 44s

35m 10s

Okay.

35m 10s

35m 48s

36m 18s

Okay.

36m 20s

We're calling it out to help you understand the performance in q four. It moving from a negative to a positive, you know, was a influence on our q four. EBITDA growth.

36m 38s

Okay.

36m 39s

Very much.

36m 44s

Your last question comes from the line of Scott Fidel from Stephens. Please go ahead.

36m 50s

Hi. This is Raj on for Scott.

36m 53s

Had a quick one on kind of observed drug mix trends in the quarter, maybe anything to call out there and kind of what's embedded from a pricing perspective in the 2025 guidance?

37m 10s

37m 31s

37m 56s

I'll speak to that Raj. We are so proud of our data analytics team working closely with our clinical team to bring these value added services and products, you know, to our customers.

38m 12s

And it is so exciting. They're continuing to move forward with that. Making great progress And I think our customers are enthused about it as well. So we're we're excited about that.

38m 29s

Alright. Great. Thank you. That's all for me.

38m 34s

There are no further questions at this time. I'd like to turn the call over to Fred Burke for closing comments. Sir, please go ahead.

38m 42s

Just a quick word of thanks to everyone who's joined really appreciate your interest in our company and for you joining the call today. Thanks very much, and with that, we'll say goodbye.

38m 58s

This concludes today's conference call. Thank you very much for your participation.

39m 2s

You may now disconnect.

Key Insights

Guardian Pharmacy reported strong financial results for Q4 2024, with revenue of $339 million (up 20% YoY), adjusted EBITDA of $26 million (up 30% YoY), and a resident count increase of 14% to 186,000. Full-year 2024 revenue reached $1.228 billion (up 17% YoY) with adjusted EBITDA of $91 million (up 19% YoY).
The company expanded its footprint in 2024 by adding nine new pharmacy locations through M&A and greenfield startups, with progress slightly ahead of the typical 3-4 year timeline for profitability.
Guardian successfully turned its COVID/flu vaccination clinics from a profitability headwind into a marginally profitable venture in 2024, contributing $12 million in Q4 revenue. Vaccine dispensing is expected to grow but with stable profitability in 2025.
For 2025, the company provided guidance of $1.33-$1.35 billion in revenue and $97-$101 million in adjusted EBITDA, reflecting a growth rate of approximately 9%. This guidance excludes potential future acquisitions or contiguous startups, which remain a key part of the growth strategy.
Guardian continues to focus on high single-digit organic growth, M&A opportunities, and leveraging its differentiated service model for assisted living and memory care facilities. The company is also addressing potential headwinds from the Inflation Reduction Act for 2026 and beyond through collaboration with PBM partners and policymakers.

Guardian Pharmacy Services, Inc. Price & Performance (GRDN)

Stock Performance

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Volume

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News & Market Insights

What's Happening

Earnings

Report Date

Reported Revenue

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Implied Move 1d

Transcript

Key Insights

Recent Transcripts

Go Deeper

Related

Recent Transcripts

News & Market Insights

Go Deeper

Earnings

Report Date

Reported Revenue

Avg 1d Change

Report Period

Reported EPS

Implied Move 1d

Transcript

Key Insights