Guardian Pharmacy Services, Inc. Class A ( (GRDN) ) has released its Q3 earnings. Here is a breakdown of the information Guardian Pharmacy Services, Inc. Class A presented to its investors.
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Guardian Pharmacy Services, Inc., a prominent player in the long-term care pharmacy services sector, provides technology-enabled services to help residents in long-term health care facilities manage their medication regimens, improving clinical outcomes and reducing care costs.
In its third-quarter 2024 earnings report, Guardian Pharmacy Services highlighted a significant 20% year-over-year revenue increase to $314.4 million, driven by organic growth and the acquisition of Heartland Pharmacy. Despite strong revenue performance, the company reported a net loss of $105.8 million, largely due to substantial share-based compensation expenses related to their recent corporate reorganization and IPO.
Key financial metrics included an adjusted EBITDA rise of 20% to $23.0 million, excluding the impact of share-based compensation. The resident count also grew by 12%, reaching 180,000, attributed to both organic growth and the Heartland acquisition. For the nine months ending September 30, 2024, revenue rose by 16% to $889.8 million, with adjusted EBITDA increasing by 15% to $64.9 million.
Looking ahead, Guardian Pharmacy Services is optimistic about its growth trajectory, following its recent market expansion and acquisition activities. The company has set a full-year revenue guidance of between $1.205 billion and $1.215 billion, with adjusted EBITDA expected to be between $86.5 million and $87.0 million, laying a solid foundation for future growth as a public entity.
