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Guardian Pharmacy Services (GRDN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Guardian Pharmacy Services (GRDN) Q3 2026 earnings results →
Q3 2026 Revenue down 2% year over year to $371M · 5¢ of every $1 of revenue kept as net profit · operating margin 6.8%
Guardian Pharmacy Services made $371M in Q3 2026 (-2% Y/Y). Operating margin 6.8%, net earnings $18.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $371.1M in Q3 2026, down 2% year over year and up 5% from the previous quarter.
Gross margin was 23.0%, up 3.2 points from Q3 2025. Operating profit was $25.1M, a 6.8% margin (up 2.4 points year over year). Operating expenses grew 3% against a revenue fall of 2%. Net earnings were $18.7M, up 90% year over year. The effective tax rate was 26.4%.
Operating cash flow was $43.4M (up 54% year over year), 227% of net income including minority interests. Non-cash charges added back $5.9M of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items added $15.6M. Capital expenditures of $4.0M left free cash flow of $39.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $371M | -2% | 6.8% | $18.7M | $43.4M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $352M | +2% | 5.9% | $22.1M | $30.0M |
| Q1 2026 | 10-Q | May 6, 2026 | $337M | +2% | 5.3% | $13.5M | $6.1M |
| Q4 2025 | 10-K | Mar 11, 2026 | $398M | +17% | 7.7% | $21.3M | $34.6M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $377M | +20% | 4.3% | $9.8M | $28.2M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $344M | +15% | 3.7% | $9.0M | $19.9M |
| Q1 2025 | 10-Q | May 12, 2025 | $329M | +20% | 3.9% | $9.4M | $17.6M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- Medicare & Medicaid — 71% of its revenue · Stated in 10-K (sentence) · source
About Guardian Pharmacy Services
Guardian Pharmacy Services is one of the nation’s leading long-term care pharmacy services companies. Through its locally-based business model, Guardian partners with long-term care facilities (“LTCFs”) to deliver medications and a comprehensive suite of technology-enabled services designed to enhance care and improve adherence to drug regimens, helping to reduce the cost of care and improve clinical outcomes. With a growing network of more than 61 licensed pharmacies, 54 of which are full-service, Guardian is dedicated to providing exceptional service to approximately 210,000 residents (as of June 30, 2026).
In its own words, from its 8-K, filed Aug 6, 2026.
Guardian Pharmacy Services against its Retail-Drug Stores and Proprietary Stores peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -2% against the peers' median -2%. Operating margin: 6.8% against the peers' median 3.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| GRDN Guardian Pharmacy Services | Q3 2026 | $371M | -2% | 6.8% |
| CVS CVS Health | Q3 2026 | $108.4B | +5% | 3.3% |
| PETS Petmed Express | Q1 FY27 | $41.0M | -20% | -15.2% |
Source: Guardian Pharmacy Services 10-Q on SEC EDGAR · CIK 1802255 · Retail-Drug Stores and Proprietary Stores
Guidance and outlook
13F: who owns GRDN and who is buying
More on GRDN
- How Guardian Pharmacy Services makes money: revenue by segment
- Guardian Pharmacy Services next earnings date and what analysts expect
- Guardian Pharmacy Services stock forecast, price target and fair value
- Who owns Guardian Pharmacy Services stock: holders, funds and Congress trades
- Guardian Pharmacy Services guidance and outlook
- Is Guardian Pharmacy Services a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results