Filing Flows › Guardian Pharmacy Services (GRDN) › Q3 2026 › vs Q3 2025
Guardian Pharmacy Services (GRDN) Q3 2026 vs Q3 2025 (year over year)
Guardian Pharmacy Services's revenue fell $6.4M (-2%) from $377M in Q3 2025 to $371M in Q3 2026. Gross margin 23.0% against 19.8% (+3.2 pts).
Guardian Pharmacy Services, Q3 2026: revenue $371M (-2% year over year), operating margin 6.8%, net earnings $18.7M, operating cash flow $43.4M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 23.0% | 19.8% | +3.2 pts |
| Operating margin | 6.8% | 4.3% | +2.4 pts |
| Net margin | 5.0% | 2.6% | +2.4 pts |
| Free cash flow margin | 10.6% | 6.1% | +4.5 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $371M | $377M | −$6.4M | -2% |
| Gross profit | $85.2M | $74.7M | $10.5M | +14% |
| Cost of revenue | $286M | $303M | −$16.9M | -6% |
| Operating profit | $25.1M | $16.4M | $8.7M | +53% |
| Operating expenses | $60.2M | $58.4M | $1.8M | +3% |
| Pre-tax earnings | $26.0M | $16.6M | $9.3M | +56% |
| Net earnings | $18.7M | $9.8M | $8.9M | +90% |
| Minority interests | $440K | −$225K | $665K | — |
| Income tax | $6.9M | $7.0M | −$181K | -3% |
| Depreciation & amortization | $5.9M | $5.8M | $94K | +2% |
| Share-based compensation | $2.7M | $4.4M | −$1.6M | -37% |
| Working capital & other | $16.0M | $8.2M | $7.9M | +96% |
| Operating cash flow | $43.4M | $28.2M | $15.2M | +54% |
| Free cash flow (OCF − capex) | $39.3M | $23.0M | $16.4M | +71% |
| Capital expenditures | $4.0M | $5.2M | −$1.2M | -23% |
Questions
How much did Guardian Pharmacy Services's revenue grow year over year in Q3 2026?
Guardian Pharmacy Services's revenue fell $6.4M (-2%) from $377M in Q3 2025 to $371M in Q3 2026. Gross margin 23.0% against 19.8% (+3.2 pts).