Filing Flows › Guardian Pharmacy Services (GRDN) › Q4 2025
Guardian Pharmacy Services (GRDN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 11, 2026
Guardian Pharmacy Services (GRDN) reported revenue of $398M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and +5% from the quarter before. Operating margin was 7.7%, net earnings $21.3M (5.3% of revenue).
Guardian Pharmacy Services, Q4 2025: revenue $398M (+17% year over year), operating margin 7.7%, net earnings $21.3M, operating cash flow $34.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $398M | +5% | +17% |
| Gross profit | $85.5M | +14% | +27% |
| Operating profit | $30.8M | +88% | +84% |
| Net earnings | $21.3M | +122% | +80% |
| Operating cash flow | $34.6M | +23% | +55% |
| Free cash flow | $34.1M | +41% | +70% |
What changed
Revenue was $397.6M in Q4 2025, up 17% year over year and up 5% from the previous quarter.
Gross margin was 21.5%, up 1.7 points from a year earlier. Operating profit was $30.8M, a 7.7% margin (up 2.8 points year over year). Of the extra revenue versus a year earlier, 24% reached operating profit, above the 5% margin then. Operating expenses grew 9% against revenue growth of 17%. Net earnings were $20.9M, up 75% year over year. The effective tax rate was 31.6%.
Operating cash flow was $34.6M (up 55% year over year), 163% of net earnings. Non-cash charges added back $5.7M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items added $6.5M. Capital expenditures of $495K left free cash flow of $34.1M.
Questions
What was Guardian Pharmacy Services' revenue in the fourth quarter 2025?
Guardian Pharmacy Services (GRDN) reported revenue of $398M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and +5% from the quarter before.
Was Guardian Pharmacy Services profitable in the fourth quarter 2025?
Operating profit was $30.8M (7.7% of revenue) and net earnings $21.3M.