GUARDIAN PHARMACY SERVICES, INC., 10-K filed on 3/11/2026
Annual Report
v3.25.4
Cover Page - USD ($)
 12 Months Ended
Dec. 31, 2025
Mar. 02, 2026
Jun. 30, 2025
Document Information [Line Items]      
Document Type 10-K    
Document Period End Date Dec. 31, 2025    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Current Fiscal Year End Date --12-31    
Amendment Flag false    
Entity Registrant Name Guardian Pharmacy Services, Inc.    
Entity Central Index Key 0001802255    
Entity File Number 001-42284    
Entity Incorporation, State or Country Code DE    
Document Annual Report true    
Document Transition Report false    
Entity Tax Identification Number 87-3627139    
Entity Address, Address Line One 300 Galleria Parkway SE    
Entity Address, Address Line Two Suite 800    
Entity Address, City or Town Atlanta    
Entity Address, State or Province GA    
Entity Address, Postal Zip Code 30339    
City Area Code 404    
Local Phone Number 810-0089    
Trading Symbol GRDN    
Security Exchange Name NYSE    
Title of 12(b) Security Class A Common Stock, par value $0.001 per share    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Accelerated Filer    
Entity Small Business true    
Entity Emerging Growth Company false    
Entity Shell Company false    
Document Financial Statement Error Correction [Flag] false    
ICFR Auditor Attestation Flag true    
Entity Voluntary Filers No    
Entity Well-known Seasoned Issuer No    
Entity Public Float     $ 411,599,923
Auditor Name Ernst & Young LLP    
Auditor Firm ID 42    
Auditor Location Atlanta, Georgia    
Common Class A [Member]      
Document Information [Line Items]      
Entity Common Stock, Shares Outstanding   36,253,744  
Common Class B [Member]      
Document Information [Line Items]      
Entity Common Stock, Shares Outstanding   27,066,890  
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 65,619 $ 4,660
Accounts receivable, net 101,614 97,153
Inventories 43,359 40,550
Other current assets 11,042 9,622
Total current assets 221,634 151,985
Property and equipment, net 55,522 49,883
Intangible assets, net 18,475 14,912
Goodwill 79,743 69,296
Operating lease right-of-use assets 34,649 29,079
Deferred tax assets 2,199 5,272
Other assets 436 383
Total assets 412,658 320,810
Current liabilities:    
Accounts payable 116,206 102,420
Accrued compensation 15,048 14,430
Operating leases, current portion 7,150 6,836
Other current liabilities 22,299 20,435
Total current liabilities 160,703 144,121
Operating leases, net of current portion 29,992 23,297
Other liabilities 4,039 3,416
Total liabilities 194,734 170,834
Commitments and contingencies (see Note 6)
Equity:    
Members' equity 0 0
Additional paid-in capital 139,353 125,484
Retained earnings 66,343 17,124
Non-controlling interests 12,165 7,305
Total equity 217,924 149,976
Total liabilities and equity 412,658 320,810
Class A common stock [Member]    
Equity:    
Common stock 36 9
Class B common stock [Member]    
Equity:    
Common stock $ 27 $ 54
v3.25.4
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2025
Dec. 31, 2024
Class A common stock [Member]    
Common stock, par or stated value per share $ 0.001  
Common Stock [Member] | Class A common stock [Member]    
Common stock, shares authorized 700,000,000 700,000,000
Common stock, par or stated value per share $ 0.001 $ 0.001
Common stock, shares, issued 36,253,744 9,200,000
Common stock, shares, outstanding 36,253,744 9,200,000
Common Stock [Member] | Class B common stock [Member]    
Common stock, shares authorized 100,000,000 100,000,000
Common stock, par or stated value per share $ 0.001 $ 0.001
Common stock, shares, issued 27,066,890 54,087,158
Common stock, shares, outstanding 27,066,890 54,087,158
v3.25.4
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenues $ 1,448,685 $ 1,228,409
Cost of goods sold 1,155,967 984,038
Gross profit 292,718 244,371
Selling, general, and administrative expenses 220,017 307,291
Operating income (loss) 72,701 (62,920)
Other expenses:    
Interest expense 665 3,278
Other expense (income), net (1,387) 279
Total other expenses (income) (722) 3,557
Income (loss) before income taxes 73,423 (66,477)
Provision for income taxes 24,465 4,556
Net income (loss) 48,958 (71,033)
Less net income attributable to Guardian Pharmacy, LLC prior to the Corporate Reorganization 0 22,760
Less net income (loss) attributable to non-controlling interests (261) 16,254
Net income (loss) attributable to Guardian Pharmacy Services, Inc. $ 49,219 $ (110,047)
Class A and Class B common stock [Member]    
Net income (loss) per share of Class A and Class B common stock    
Basic [1] $ 0.79 $ (1.77)
Diluted [1] $ 0.78 $ (1.77)
Weighted-average Class A and Class B common shares outstanding    
Basic 62,386,253 62,005,811
Diluted 63,297,123 62,005,811
[1] Basic and diluted net income (loss) per share of Class A and Class B common stock is applicable only for the period subsequent to September 27, 2024, which is the period following the initial public offering (“IPO”) and related Corporate Reorganization (as defined in Note 1 to the Consolidated Financial Statements). See Note 10 Basic and Diluted Loss Per Share for the number of shares used in the computation of net income (loss) per share of Class A and Class B common stock and the basis for the computation of net income (loss) per share.
v3.25.4
Consolidated Statements of Changes in Members' Equity and Stockholders' Equity - USD ($)
$ in Thousands
Total
Class A [Member]
Class B [Member]
Members' Equity [Member]
Common Stock [Member]
Class A [Member]
Common Stock [Member]
Class B [Member]
Additional Paid-in capital [Member]
Retained Earnings [Member]
Non-Controlling Interests [Member]
Beginning Balance at Dec. 31, 2023 $ 59,859     $ 28,209         $ 31,650
Net income (loss) attributable to Guardian Pharmacy Services, Inc. (110,047) $ (16,261) $ (93,786)         $ (110,047)  
Net income (loss) attributable to non-controlling interest 16,254                
Share-based compensation forfeitures (Shares)           (7,074)      
Share-based compensation forfeitures (1)           $ (1)    
Share-based compensation expense 3,574           3,574    
Issuance of common stock associated with vested restricted stock units (Shares)         9,200,000        
Issuance of common stock associated with vested restricted stock units 106,762       $ 9   106,753    
Net income prior to Corporate Reorganization 39,110     22,760         16,350
Contributions prior to Corporate Reorganization 2,107               2,107
Distributions prior to Corporate Reorganization (50,329)     (36,050)         (14,279)
Non-cash equity contribution prior to Corporate Reorganization 4,989               4,989
Conversion of non-controlling interest into Guardian Pharmacy, LLC common units       34,169         (34,169)
Conversion of Restricted Interest Unit awards into Guardian Pharmacy, LLC common units 142,498     142,498          
Conversion of Guardian Pharmacy, LLC common units into Class B common stock of Guardian Pharmacy Services, Inc. (Shares)           54,094,232      
Conversion of Guardian Pharmacy, LLC common units into Class B common stock of Guardian Pharmacy Services, Inc.       $ (191,586)   $ 54 9,185 182,347  
Payments to Class B common stock stockholders of $1.02 per share (55,176)             (55,176)  
Recognition of deferred tax asset, net from Corporate Reorganization 5,973           5,973    
Net income (loss) attributable to non-controlling interest subsequent to Corporate Reorganization (96)               (96)
Contributions Subsequent To Corporate Reorganization 651               651
Non-cash equity contribution subsequent to Corporate Reorganization 286               286
Distributions Subsequent To Corporate Reorganization (184)               (184)
Equity-based compensation subsequent to Corporate Reorganization 3,574           3,574    
Ending Balance at Dec. 31, 2024 149,976       $ 9 $ 54 125,484 17,124 7,305
Ending Balance (Shares) at Dec. 31, 2024         9,200,000 54,087,158      
Contributions 1,970               1,970
Distributions (880)           (422)   (458)
Non-cash equity contribution 3,609               3,609
Net income (loss) attributable to Guardian Pharmacy Services, Inc. 49,219 $ 18,099 $ 31,120         49,219  
Net income (loss) attributable to non-controlling interest (261)               (261)
Share-based compensation forfeitures (Shares)         (200) (1,112)      
Share-based compensation forfeitures (19)           (19)    
Share-based compensation expense 13,869           13,869    
Issuance of common stock associated with vested restricted stock units (Shares)         10,713 24,075      
Issuance of common stock associated with vested restricted stock units 441           441    
Conversion of Guardian Pharmacy, LLC common units into Class B common stock of Guardian Pharmacy Services, Inc. (Shares)         27,043,231 (27,043,231)      
Conversion of Guardian Pharmacy, LLC common units into Class B common stock of Guardian Pharmacy Services, Inc.         $ 27 $ (27)      
Equity-based compensation subsequent to Corporate Reorganization 13,869           13,869    
Ending Balance at Dec. 31, 2025 $ 217,924       $ 36 $ 27 $ 139,353 $ 66,343 $ 12,165
Ending Balance (Shares) at Dec. 31, 2025         36,253,744 27,066,890      
v3.25.4
Consolidated Statements of Changes in Members' Equity and Stockholders' Equity (Parenthetical)
 12 Months Ended
Dec. 31, 2024
$ / shares
Statement of Stockholders' Equity [Abstract]  
Payment to common stock per share $ 1.02
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating activities    
Net income (loss) $ 48,958 $ (71,033)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 22,335 19,772
Share-based compensation expense 13,850 131,490
Provision for losses on accounts receivable 4,581 6,370
Change in deferred tax asset 3,074 0
Other 1,075 767
Changes in operating assets and liabilities:    
Accounts receivable (8,553) (25,485)
Inventories (877) (1,151)
Other current assets (2,482) (1,979)
Accounts payable 16,398 13,230
Accrued compensation 618 (2,967)
Other operating liabilities 1,278 (11,054)
Net cash provided by operating activities 100,255 57,960
Investing activities    
Purchases of property and equipment (19,545) (16,368)
Payment for acquisitions (13,416) (14,710)
Other 736 671
Net cash used in investing activities (32,225) (30,407)
Financing activities    
Proceeds from equity offering, net of underwriter fees 29,039 119,784
Payments of equity offering costs (1,594) (4,157)
Borrowings from notes payable 0 15,000
Repayment of notes payable (497) (38,000)
Borrowings from line of credit 0 189,300
Repayments of line of credit 0 (198,300)
Principal payments on finance lease obligations (4,483) (4,481)
Payments related to acquisitions (2,509) 0
Contributions from non-controlling interests 1,970 2,758
Distributions to non-controlling interests (458) (14,463)
Member distributions 0 (35,750)
Other 500 (160)
Net cash used in financing activities (7,071) (23,645)
Net change in cash and cash equivalents 60,959 3,908
Cash and cash equivalents, beginning of period 4,660 752
Cash and cash equivalents, end of period 65,619 4,660
Supplemental disclosure of cash flow information    
Cash paid during the year for interest 650 3,121
Cash paid during the year for income taxes 21,541 0
Supplemental disclosure of non-cash investing and financing activities    
Purchases of property and equipment through finance leases 4,941 3,529
Accrued and capitalized offering costs recorded to additional paid-in capital 0 8,866
Non-cash equity contributions from non-controlling members 3,609 5,604
Common Class A [Member]    
Financing activities    
Repurchase (Payments) of common stock (29,039) 0
Common Class B [Member]    
Financing activities    
Repurchase (Payments) of common stock $ 0 $ (55,176)
v3.25.4
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Pay vs Performance Disclosure    
Net Income (Loss) $ 49,219 $ (110,047)
v3.25.4
Insider Trading Arrangements
 12 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Risk Management and Strategy
We recognize the importance of identifying, assessing, and managing material risks associated with cybersecurity threats, which include, among other things, operational risks, intellectual property theft, fraud, extortion, harm to employees or patients, and violation of data privacy or security laws. We employ multiple levels of protection designed to minimize the risks associated with cybersecurity, ransomware and data breaches, including firewalls, data loss prevention, email filtering for ransomware, proactive threat-hunting, cloud-based backups, multifactor authentication, encryption software, intrusion testing and SIEM networking monitoring to ensure the integrity of our data and systems. In addition, we maintain recovery and other business continuity procedures.
Our cybersecurity risk management program is informed by prevailing security standards and is designed to provide a framework for evaluating and responding to cybersecurity risks. This includes processes for assessing the severity of a cybersecurity threat, identifying the source of a cybersecurity threat, implementing cybersecurity countermeasures and mitigation strategies, and informing and updating management and, as needed, the audit committee and our board of directors of cybersecurity incidents that may pose a significant risk for the business. Security events and data incidents are evaluated, ranked by severity, and prioritized for response and remediation. Incidents are evaluated to determine materiality, as well as operational and business impact, and are reviewed for privacy impact.
We deploy technical safeguards that are designed to protect our information systems, products, operations and sensitive information from cybersecurity threats. These include including firewalls, data loss prevention, email filtering for ransomware, proactive thread-hunting, cloud-based backups, multifactor authentication, encryption software, intrusion testing and SIEM networking monitoring to ensure the integrity of our data and systems. In addition, we maintain recovery and other business continuity procedures, including cloud-based backups, electrical generators, critical systems housed at hardened data centers and geographic redundancy, intended to minimize disruptions to our operations in the event of disaster or other interruptions to our information systems. Our security events are logged to a central source and monitored by a third party security operations management provider.
We provide periodic training for all personnel regarding cybersecurity threats, with such training appropriate to the roles, responsibilities and access of the relevant Company personnel.
Recognizing the complexity and evolving nature of cybersecurity threats, incidents and risks, we engage third-party experts, including cybersecurity consultants, to evaluate and support our risk management systems. We also rely on software support from third-party vendors to assist with evaluating, monitoring, and testing our information technology systems. These relationships enable us to leverage specialized knowledge and insights, which help ensure our cybersecurity strategies and processes remain effective. Our collaboration with these third parties includes regular audits, routine system monitoring, threat assessments, incident response, and consultation on potential security enhancements. We require third-party service providers with access to personal, confidential, or proprietary information to implement and maintain comprehensive cybersecurity practices consistent with applicable legal standards and industry best practices.
As of the date of this Annual Report on Form
10-K,
we are not aware of any cybersecurity incidents that have materially affected or are reasonably likely to materially affect the Company, including our business strategy, results of operations, or financial condition. For further discussion of the risks associated with cybersecurity incidents, see “
Risk Factors—Risks Related to Our Business—Interruptions to our information
systems may materially and
adversely affect our operating results
” as well as “—
Cybersecurity attacks or other data security incidents could disrupt our operations and expose us to regulatory fines or penalties, liability or reputational harm.
”
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] We deploy technical safeguards that are designed to protect our information systems, products, operations and sensitive information from cybersecurity threats. These include including firewalls, data loss prevention, email filtering for ransomware, proactive thread-hunting, cloud-based backups, multifactor authentication, encryption software, intrusion testing and SIEM networking monitoring to ensure the integrity of our data and systems.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block] As of the date of this Annual Report on Form
10-K,
we are not aware of any cybersecurity incidents that have materially affected or are reasonably likely to materially affect the Company, including our business strategy, results of operations, or financial condition.
Cybersecurity Risk Role of Management [Text Block]
Governance
Our board of directors has overall oversight responsibility for our risk management, and delegates data protection and cybersecurity risk oversight to the audit committee. The audit committee receives regular briefings on cybersecurity risks and risk management practices, including, for example, recent developments in the external cybersecurity threat landscape, evolving standards, vulnerability assessments, third-party and independent reviews, technological trends, as well as how management is addressing or mitigating those risks. The audit committee may also promptly receive information regarding any material cybersecurity incident that may occur, including any ongoing updates regarding the same. The audit committee periodically discusses our approach to cybersecurity risk management with our SVP of Technology & Senior Security Officer.
Our SVP of Technology & Senior Security Officer is responsible for overseeing our cybersecurity risk management program. Our SVP of Technology & Senior Security Officer has over 20 years of extensive experience in information technology and security, and works in coordination with other members of the management team.
Our SVP of Technology & Senior Security Officer, along with leaders from our privacy and corporate compliance functions, collaborate to implement a program designed to manage our exposure to cybersecurity risks and to promptly respond to cybersecurity incidents. Response to incidents is delivered by multi-disciplinary teams in accordance with our incident response plan. Through ongoing communications with these teams during incidents, the SVP of Technology & Senior Security Officer monitors the triage, mitigation and remediation of cybersecurity incidents, and reports such incidents to executive management, the audit committee and other colleagues in accordance with our cybersecurity policies and procedures, as appropriate.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our board of directors has overall oversight responsibility for our risk management, and delegates data protection and cybersecurity risk oversight to the audit committee. The audit committee receives regular briefings on cybersecurity risks and risk management practices, including, for example, recent developments in the external cybersecurity threat landscape, evolving standards, vulnerability assessments, third-party and independent reviews, technological trends, as well as how management is addressing or mitigating those risks. The audit committee may also promptly receive information regarding any material cybersecurity incident that may occur, including any ongoing updates regarding the same. The audit committee periodically discusses our approach to cybersecurity risk management with our SVP of Technology & Senior Security Officer.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Technology & Senior Security Officer has over 20 years of extensive experience in information technology and security, and works in coordination with other members of the management team.
v3.25.4
Organization and Background
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Background
1.
Organization and Background
Business
Guardian Pharmacy Services, Inc. (the “Company”) is a leading, highly differentiated pharmacy services company that provides an extensive suite of technology-enabled services designed to help residents of long-term health care facilities (“LTCFs”) adhere to their appropriate drug regimen, which in turn helps reduce the cost of care and improve clinical outcomes. We emphasize high-touch, individualized clinical, drug dispensing and administration capabilities that are tailored to serve the needs of residents in historically lower acuity LTCFs, such as assisted living facilities, and behavioral health facilities and group homes. Additionally, our robust suite of capabilities enables us to serve residents in all types of LTCFs. We are a trusted partner to residents, LTCFs and health plan payors because we help reduce errors in drug administration, manage and ensure adherence to drug regimens, and lower overall healthcare costs.
Organization
The Company was incorporated in the state of Delaware on November 16, 2021. The Company was formed for the purpose of completing an initial public offering (“IPO”) of its common stock and related corporate reorganization transactions in order to carry on, as a publicly traded entity, the business of Guardian Pharmacy, LLC, which was formed on July 21, 2003 as an Indiana limited liability company.
Corporate Reorganization
Prior to the IPO, we conducted our business through Guardian Pharmacy, LLC, and its majority-owned and wholly-owned limited liability company subsidiaries, which were treated for income tax purposes as partnerships and disregarded entities, respectively. Immediately prior to the IPO, we completed a series of corporate reorganization transactions (the “Corporate Reorganization”), pursuant to which:
 
  •  
All Preferred Units in Guardian Pharmacy, LLC were converted into Common Units, resulting in Guardian Pharmacy, LLC having only Common Units outstanding;
 
  •  
The membership interests, including Restricted Interest Unit awards, held by members other than Guardian Pharmacy, LLC in our subsidiaries (other than certain subsidiaries that were not parties to the Corporate Reorganization, as discussed below) were converted into Common Units of Guardian Pharmacy, LLC. The subsidiaries that participated in the Corporate Reorganization are referred to as the Converted Subsidiaries, and the subsidiaries that were not parties to the Corporate Reorganization are referred to as the
Non-Converted
Subsidiaries; and
 
  •  
Guardian Pharmacy, LLC became a wholly-owned subsidiary of the Company by participating in a merger with a transitory subsidiary of the Company. Pursuant to the merger, each Common Unit of Guardian Pharmacy, LLC was converted into (i) one share of the Company’s Class B common stock, par value $0.001 per share (“Class B common stock”) and (ii) the right to receive $1.02 in cash per share, without interest (collectively, the “Merger Consideration”). In the merger, 54,094,232 shares of Class B common stock were issued in exchange for Common Units of Guardian Pharmacy, LLC. In accordance with the terms of the Company’s Amended and Restated Certificate of Incorporation, such issued shares of Class B common stock will automatically convert on a
one-for-one
basis into shares of the Company’s Class A common stock, par value $0.001 per share (“Class A common stock”), with 25% of such holder’s shares of Class B common stock converting into shares of Class A common stock on each of the following dates: (i) March 28, 2025; (ii) September 27, 2025; (iii) March 28, 2026; and (iv) September 27, 2026. The Merger Consideration was $55,176 and was paid using the proceeds from the IPO.
 
 
As a result of the Corporate Reorganization, the Company became a holding company with no material assets other than its 100% interest in Guardian Pharmacy, LLC, and the Converted Subsidiaries became wholly-owned subsidiaries of Guardian Pharmacy, LLC. In addition, Guardian Pharmacy, LLC remained the majority owner of each of the
Non-Converted
Subsidiaries.
The
Non-Converted
Subsidiaries are (i) greenfield
start-up
pharmacies in various stages of development and integration with Guardian and do not currently have material operations or (ii) pharmacies that we recently acquired. After a period of time that would typically be sufficient to allow such pharmacies to adopt our operating practices and experience meaningful growth in residents served and earnings, we expect to acquire the minority membership interests of such
Non-Converted
Subsidiaries.
As a result of the Corporate Reorganization, the Company recorded deferred tax assets and liabilities attributable to the business of Guardian Pharmacy, LLC. In addition, the Company received tax basis for the $55,176 in cash payments related to the Merger Consideration, which are amortizable for tax purposes. To reflect this new taxability at the corporate level and the tax
step-up,
the Company recorded an incremental net deferred tax asset through additional
paid-in
capital of $5,973 at the time of the Corporate Reorganization. See Note 14
Income Taxes
for further discussion.
Initial Public Offering
On September 27, 2024, the Company consummated its IPO of 8,000,000 shares of its Class A common stock, as described in the Company’s final prospectus dated September 25, 2024, filed with the Securities and Exchange Commission (“SEC”) on September 26, 2024, pursuant to Rule 424(b) under the Securities Act of 1933, as amended. Also on September 27, 2024, the underwriters for the IPO exercised in full their option to purchase an additional 1,200,000 shares of Class A common stock. The 9,200,000 shares were issued at a public offering price of $14.00 per share, resulting in net proceeds to the Company of $119,784, after deducting underwriting discounts of $9,016. In addition to the underwriting discounts, the Company incurred $13,022 of offering costs, which were recorded to additional
paid-in
capital.
Conversion of Class B Common Stock to Class A Common Stock
In accordance with the terms of the Company’s Amended and Restated Certificate of Incorporation and the conversion schedule described in the Corporate Reorganization section above, on March 28, 2025 and September 27, 2025, 13,519,946 shares and 13,523,285 shares, respectively, of the Company’s Class B common stock automatically converted, in accordance with the terms of such class and without any further action by their holders or the Company, into an equal number of shares of the Company’s Class A common stock.
Follow-On
Offering
In May 2025, the Company completed an underwritten
follow-on
public offering of 1,440,447 shares of Class A common stock at an offering price of $21.00 per share (the “Q2 2025 Offering”). We used all of the proceeds, net of underwriting discounts of $1,210, from the Q2 2025 Offering to purchase 1,440,447 shares of outstanding Class A common stock that were issued upon conversion of shares of our Class B common stock that were originally issued in connection with our Corporate Reorganization. The 1,440,447 shares of Class A common stock purchased by the Company were cancelled, resulting in no change to the total number of Class A common stock outstanding. We did not retain any of the proceeds from the sale of shares in the offering.
 
 
As part of the Q2 2025 Offering, certain selling stockholders, consisting of the Company’s founders (the “Guardian Founders”), sold 7,184,553 shares of Class A common stock. We did not receive any proceeds from the sale of shares by the selling stockholders in the Q2 2025 Offering.
v3.25.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
2. Summary of Significant Accounting Policies
Principles of consolidation
The accompanying consolidated financial statements include the accounts of the Company and all controlled subsidiaries (collectively, the “Company”). All intercompany transactions and accounts have been eliminated. Results of operations of the Company’s controlled subsidiaries have been included from the date of acquisition.
Basis of Presentation
The Consolidated Financial Statements are prepared in conformity with the generally accepted accounting principles in the United States of America (“U.S. GAAP”).
The Corporate Reorganization was accounted for as a combination of entities under common control. As a result, the financial reports filed with the SEC by the Company subsequent to the Corporate Reorganization are prepared “as if” Guardian Pharmacy, LLC is the accounting predecessor of the Company. The historical operations of Guardian Pharmacy, LLC are deemed to be those of the Company. Thus, the financial statements included in this report reflect (i) the historical operating results of Guardian Pharmacy, LLC prior to the Corporate Reorganization; (ii) the consolidated results of the Company and Guardian Pharmacy, LLC following the Corporate Reorganization; (iii) the assets and liabilities of the Company and Guardian Pharmacy, LLC at their historical cost; and (iv) the Company’s equity structure for all periods presented. No
step-up
basis of intangible assets or goodwill was recorded.
Guardian Pharmacy, LLC has been determined to be our predecessor for accounting purposes and, accordingly, the consolidated financial statements for periods prior to the Corporate Reorganization have been adjusted to combine the previously separate entities for presentation purposes. The Company’s financial position, results of operations and cash flows effectively represent those of Guardian Pharmacy, LLC as of and for all periods presented.
Use of Estimates
The preparation of Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates.
Fair Value
The Company utilizes the three-level valuation hierarchy for the recognition and disclosure of fair value measurements. The categorization of assets and liabilities within this hierarchy is based upon the lowest level of input that is significant to the measurement of fair value. The three levels of the hierarchy consist of the following:
 
  •  
Level 1—Inputs to the valuation methodology are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.
 
 
  •  
Level 2—Inputs to the valuation methodology are quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active or inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the instrument.
 
  •  
Level 3—Inputs to the valuation methodology are unobservable inputs based upon management’s best estimate of inputs that market participants could use in pricing the asset or liability at the measurement date, including assumptions about risk.
Financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to the short maturity of these instruments.
The following table summarizes the valuation of liabilities measured at fair value on a recurring basis on the Company’s Consolidated Balance Sheets:
 
    
Level 1
     
Level 2
     
Level 3
  
December 31, 2024
         
Liabilities:
         
Contingent consideration obligations
(1)
    $ —       $ —       $ 2,700  
  
 
 
     
 
 
     
 
 
  
Fair value of financial instruments
    $ —       $ —       $ 2,700  
  
 
 
     
 
 
     
 
 
  
 
    
Level 1
     
Level 2
     
Level 3
  
December 31, 2025
         
Liabilities:
         
Contingent consideration obligations
(1)
    $ —       $ —       $ 3,220  
  
 
 
     
 
 
     
 
 
  
Fair value of financial instruments
    $ —       $ —       $ 3,220  
  
 
 
     
 
 
     
 
 
  
 
(1)
The fair value measurement of the contingent consideration obligations arising from acquisitions is based upon Level 3 unobservable inputs including, in part, the estimate of future cash flows based upon the likelihood of achieving the various criteria triggering the payment of the obligations. The fair values of the liabilities associated with contingent consideration obligations were derived using the income approach with unobservable inputs, which included future earnings forecasts for which there is no market data. Fair value measurement using unobservable inputs is inherently uncertain, and a change in significant inputs could result in different fair values. During the years ended December 31, 2024 and 2025, there were no material gains or losses related to liabilities classified as Level 3 as a result of fair value adjustments. Changes in the fair value of the contingent consideration obligations are recorded within Selling, general and administrative expenses.
The following table provides a reconciliation of the activity for the Level 3 contingent consideration fair value measurements during the years ended December 31, 2024 and 2025:
 
Balance at December 31, 2023
    $ —   
Contingent consideration obligations
      2,700  
  
 
 
  
Balance at December 31, 2024
      2,700  
  
 
 
  
Contingent consideration obligations
      2,720  
Payments
      (2,200 ) 
  
 
 
  
Balance at December 31, 2025
    $ 3,220  
  
 
 
  
 
 
Cash and Cash Equivalents
Cash consists primarily of demand deposits held with financial institutions. The Company considers all highly liquid investments purchased with an original maturity of three months or less when purchased to be cash equivalents for financial statement presentation.
Accounts Receivable
Accounts receivable consists primarily of amounts due from third parties (e.g., pharmacy benefit managers, insurance companies, governmental agencies, and long-term care facilities) and private pay customers. Accounts receivable are stated at cost less an allowance for credit losses, the net of which approximates fair value.
Allowance for Credit Losses
Collection of accounts receivable from customers is the Company’s primary source of operating cash flow and is critical to the operating performance and the financial condition of the Company. The primary collection risk relates to amounts due from long-term care facilities and private pay customers, as billings to these customers can be complex and may lead to payment disputes or delays. The Company establishes an allowance for accounts receivable considered to be at increased risk of becoming uncollectible to reduce the carrying value of such receivables to their estimated net realizable value.
When establishing this allowance for credit losses, the Company considers such factors as historical collection experience (i.e., payment history and credit losses) and creditworthiness, specifically identified credit risks, aging of accounts receivable, current and expected economic conditions, and other relevant factors. The allowance for credit losses is regularly reviewed for appropriateness. Judgment is used to assess the collectability of account balances and the economic ability of customers to pay. At the time a balance is definitively deemed to be uncollectible, the balance is written off against the allowance for credit losses. The charges recorded for credit losses is reported within Selling, general and administrative expenses on the Consolidated Statements of Operations. As of December 31, 2024 and 2025, the allowance for credit losses was $8,868 and $8,712, respectively.
The table below outlines the activity for the allowance for credit losses for the years ended December 31, 2024 and 2025:
 
Balance at December 31, 2023
    $ 6,171  
Additions
      8,388  
Deductions
      (5,691 ) 
  
 
 
  
Balance at December 31, 2024
      8,868  
Additions
      6,303  
Deductions
      (6,459 ) 
  
 
 
  
Balance at December 31, 2025
    $ 8,712  
  
 
 
  
Rebates
The Company receives rebates, discounts, and other price concessions relating to purchases from its suppliers and vendors. The Company estimates rebates earned and the associated receivable from pharmaceutical wholesalers and manufacturers, group purchasing organizations (“GPOs”) and vendors, based on estimates of the
 
 
qualifying prescriptions dispensed or the key products purchased and sold. The receivables are recognized at the end of the period in the Consolidated Financial Statements within Accounts receivable and as a reduction to Cost of goods sold and Inventories as appropriate.
Inventories
Inventories consist primarily of purchased pharmaceuticals held for sale to customers. Inventories are recorded at the lower of cost
(first-in,
first-out
method) or net realizable value.
Physical inventory counts are taken quarterly and used to record the inventory balances on hand to ensure the amounts reflected in the accompanying Consolidated Financial Statements are properly stated. Costs include the purchase price of pharmaceuticals, which is reduced for rebates earned associated with inventory remaining at the end of each period, and overhead. There is no significant obsolescence reserve recorded since the Company has not experienced (nor does it expect to experience) significant levels of inventory obsolescence write-offs due to the ability to return unused drugs to its suppliers and vendors for credit.
Property and Equipment
Property and equipment are recorded at cost, net of accumulated depreciation. See Note 4
Property and Equipment
for more information.
Leases
In accordance with Financial Accounting Standards Board (“FASB”), Accounting Standard Codification (“ASC”), 842—Leases (“ASC 842”), the Company has applied the practical expedient to account for the lease and
non-lease
components as a single lease component for all leases. The Company also made an accounting policy election to not recognize
right-of-use
(‘”ROU”) assets and liabilities for leases with a term of 12 months or less unless the lease includes an option to renew or purchase the underlying asset that are reasonably certain to be exercised.
For leases with terms greater than 12 months, the Company records the related asset and obligation at the present value of fixed lease payments over the term. Many of the Company’s leases include rental escalation clauses, renewal options and/or termination options that are factored into the Company’s determination of lease payments when appropriate. Variable lease payments are recognized as incurred.
As the implicit rate is not readily determinable for the Company’s leases, the Company uses an estimated incremental borrowing rate to determine the initial present value of lease payments over the lease terms on a collateralized basis over a similar term, which is based on market and company specific information. The Company applied a portfolio approach using an estimated incremental borrowing rate upon adoption of ASC 842.
Leases that transfer substantially all the benefits and risks of ownership of property to the Company or otherwise meet the criteria for capitalization are accounted for as finance leases. To reflect their purchase and financing, assets acquired under finance leases are recorded on the Consolidated Balance Sheets as Property and equipment, and amounts due under finance leases are recorded as Other Liabilities, Current and Long-Term. Depreciation of assets recorded under finance leases is provided on a straight-line basis over the period of their estimated useful lives (or lease term if shorter) and is reported on the Consolidated Statements of Operations within either Cost of goods sold or Selling, general and administrative expense as determined by the nature of the asset. See Note 6
Lease Obligations
for more information.
 
 
Impairment of Long-Lived Assets
The Company’s long-lived assets consist of property and equipment, as well as intangible assets with definite lives. Intangible assets with definite lives primarily include customer lists and trademarks that are recognized as a result of acquisitions. Long-lived assets are reviewed for indicators of impairment whenever events or changes in circumstances indicate that the carrying amount of these assets may not be recoverable.
The Company groups and evaluates long-lived assets for impairment at the lowest level at which individual cash flows can be identified whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If indicators of impairment are present, the Company first compares the carrying amount of the asset group to the estimated future cash flows associated with the asset group (undiscounted and without interest charges). If the estimated undiscounted future cash flows used in this analysis are less than the carrying amount of the asset group, an impairment loss calculation is prepared. The impairment loss calculation compares the carrying amount of the asset group to the asset group’s fair value. If required, an impairment loss is recorded for the portion of the asset group’s carrying value that exceeds the asset group’s fair value. The Company concluded there was no impairment of long-lived assets during the years ended December 31, 2024 or 2025.
Goodwill
Goodwill is the excess of the consideration transferred over the fair value of identifiable net assets acquired in business combinations accounted for under the acquisition method of accounting. The Company does not amortize goodwill. The Company tests its goodwill annually during the fourth quarter of its fiscal year or when events and circumstances indicate that impairment may have occurred and requires impairment charges to be recognized based on the difference between the carrying amount of the reporting unit and its fair value. Impairment testing of goodwill is required at the reporting unit level (operating segment or one level below operating segment). Prior to performing the impairment test, the Company may make a qualitative assessment of the likelihood of goodwill impairment in order to determine whether a detailed quantitative analysis is required. The Company’s annual impairment testing date is October 1.
No impairment of goodwill resulted from the Company’s annual impairment testing in 2024 or 2025. See Note 5
Goodwill and Intangible Assets
for more information.
Intangible Assets
The Company’s intangible assets with definite lives primarily include customer lists and trademarks. Intangible assets are stated at their acquired fair value less accumulated amortization. These assets are amortized over periods ranging from five to twenty years using a straight-line method, which approximates the period over which expected future cash flows are derived. The Company considers the period of expected cash flows and underlying data to be the best estimate in measuring fair value when determining their useful lives.
Contingent Consideration
When an acquisition involves a contingent consideration arrangement, the Company recognizes a liability as of the acquisition date equal to the fair value of expected contingent payments. This liability is remeasured each reporting period and changes in the fair value are reported within Selling, general and administrative expenses on the Consolidated Statements of Operations. Increases or decreases in the fair value of the contingent consideration liability can result from changes in discount periods and rates, as well as changes in the timing or likelihood of achieving certain revenue or other targets. Payments made greater than three months after the
 
 
acquisition date up to the fair value of the contingent consideration established at the acquisition date are reported as financing activities on the Consolidated Statements of Cash Flows while payments in excess of such amounts are reported as operating activities on the Consolidated Statements of Cash Flows.
The terms of the contingent consideration arrangement may include certain provisions that the Company contribute additional capital to its subsidiaries to fund payment of the contingent payment when earned. These provisions may also require the Company to issue additional equity in its subsidiaries to
non-controlling
interest members to avoid dilution of their ownership upon payment of contingent obligations.
Loss Contingencies
The Company may become involved in legal proceedings and other matters that may result in loss contingencies. A liability is established for such matters when it is probable that a loss has been incurred and the amount of loss can be reasonably estimated. Liabilities for loss contingencies are recorded within Other current liabilities and Other liabilities on the Company’s Consolidated Balance Sheets. See Note 9
Commitments and Contingencies
for more information.
Revenue Recognition
Revenue is recognized when control of the promised goods are transferred or services are provided to customers in an amount that reflects the consideration the Company expects to be entitled to receive in exchange for those goods or services. Each prescription represents a separate performance obligation of the Company, separate and distinct from other prescriptions under customer arrangements.
A significant portion of the Company’s revenues from sales of pharmaceutical and medical products is subject to reimbursement by federal Medicare (i.e., Part A, B, D) programs and state Medicaid programs. The total net sales reported on the Company’s Consolidated Financial Statements are recorded at the amount expected to be ultimately received from these payors, net of a reserve for customer returns based on historical return data. Billing functions for a portion of the Company’s revenue systems are largely computerized,
submitting
claims for online adjudication electronically, with simultaneous feedback of the amount expected to be received at the time of sale to determine and record net revenues.
Patient
co-payments
are billed to the patient as part of the Company’s normal billing procedures. Additionally, the Company bills certain long-term care facilities for the sale of pharmaceuticals. These billings are subject to the Company’s normal accounts receivable collections procedures. No disaggregation of revenue is necessary as the impact of economic factors is comparable due to the similarity in the types of goods and services provided for the long-term care facilities or residents served.
Concentrations of Credit Risk
Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and accounts receivable.
At times, cash balances at financial institutions are in excess of Federal Deposit Insurance Corporation (“FDIC”) insurance coverage. FDIC insurance covers all deposit accounts, including checking and savings accounts, money market deposit accounts, and certificates of deposit, up to $250 per depositor, per insured bank, for each account ownership category. The Company believes it mitigates any risks by depositing cash with major financial institutions.
 
 
Credit risk on accounts receivable is generally diversified due to the number of entities comprising the customer base. The Company generally does not require collateral from its customers in connection with the extension of credit in the form of accounts receivable balances. Management regularly reviews the allowances for credit losses for appropriateness. For the years ended December 31, 2024 and 2025, no single customer accounted for 10% or more of the Company’s revenues.
Delivery Expenses
The Company incurred expenses totaling $40,716, and $47,334 for the years ended December 31, 2024 and 2025
,
respectively, to deliver products sold to its customers. Delivery expenses are reported within Cost of goods sold on the Consolidated Statements of Operations.
Advertising and Marketing Expenses
The Company incurred advertising and marketing expenses totaling $3,502, and $3,895 for the years ended December 31, 2024 and 2025
,
respectively. Advertising and marketing expenses are expensed as incurred and are reported within Selling, general, and administrative expenses on the Consolidated Statements of Operations.
Share-based Compensation
The Company records compensation costs related to the vesting of equity-based and liability-based awards on its Consolidated Statements of Operations. See Note 11
Share-based Compensation
for more information.
Stockholders’ Equity
Common Stock
We have two classes of common stock: Class A common stock, which has one vote per share, and Class B common stock, which has one vote per share. The Class A common stock and Class B common stock vote together as a single class on all matters submitted to a vote of stockholders (including the election of directors), except as otherwise required by applicable law and except in connection with amendments to our certificate of incorporation that increase or decrease the par value of the shares of such class, or alter or change the powers, preferences or special rights of the shares of either class so as to affect the holders of such shares adversely. There are no shares of preferred stock outstanding.
Voting
Holders of shares of our Class A common stock and Class B common stock are entitled to one vote for each share held of record on all matters on which stockholders are entitled to vote generally, including the election or removal of directors elected by our stockholders. The holders of our Class A common stock and Class B common stock do not have cumulative voting rights in the election of directors.
Dividends
Holders of shares of our Class A common stock and Class B common stock are entitled to receive dividends when, as and if declared by our board of directors out of funds legally available therefor, subject to any statutory or contractual restrictions on the payment of dividends and to any restrictions on the payment of dividends imposed by the terms of any outstanding preferred stock.
 
 
Liquidation
Upon our liquidation, dissolution or winding up and after payment in full of all amounts required to be paid to creditors and to the holders of preferred stock having liquidation preferences, if any, the holders of shares of our Class A common stock and Class B common stock will be entitled to receive ratably our remaining assets available for distribution, unless different treatment of the shares of each such class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A common stock and Class B common stock, each voting separately as a class.
Fully Paid and
Non-Assessable
All shares of our Class A common stock and Class B common stock outstanding are fully paid and
non-assessable.
The Class A common stock and Class B common stock will not be subject to further calls or assessments by us.
Rights and Preferences
Holders of shares of our Class A common stock do not have preemptive, conversion, subscription or redemption rights. Holders of shares of our Class B common stock do not have preemptive, subscription or redemption rights. Shares of our Class B common stock are convertible into shares of our Class A common stock as described below under “—Transfer Restrictions and Conversion of Class B Common Stock.” There are no redemption or sinking fund provisions applicable to the Class A common stock or Class B common stock. The rights powers, preferences and privileges of our Class A common stock and Class B common stock are subject to those of the holders of any shares of our preferred stock or any other series or class of stock we may authorize and issue in the future.
Transfer Restrictions and Conversion of Class B Common Stock
Shares of Class B common stock may not be transferred by the holder thereof, unless such transfer is a “Permitted Transfer.” We refer to a transferee of shares of Class B common stock received in a Permitted Transfer as a “Permitted Transferee.” In accordance with our certificate of incorporation, a “Permitted Transfer” generally will include any transfer of Class B common stock (i) approved in advance by our board of directors; (ii) to a family member of the holder; (iii) to certain entities owned by the holder or certain trusts (each, a “Permitted Entity”); (iv) upon a holder’s death by will, intestate succession or operation of law; or (v) by a Permitted Entity to a family member of the holder or any other Permitted Entity of the holder.
As provided in our certificate of incorporation, with respect to each holder of Class B common stock (and any subsequent Permitted Transferee) (a “Qualified Stockholder”), such holder’s shares of Class B common stock will automatically convert into shares of Class A common stock on a
one-for-one
basis pursuant to the
two-year
conversion schedule set forth in our certificate of incorporation. We refer to the date of issuance of the relevant shares of Class B common stock as the “Class B Issuance Date.” With respect to each holder being issued shares of Class B common stock on the Class B Issuance Date, 25% of such holder’s shares of Class B common stock will convert into shares of Class A common stock on each of the following dates: (i) on the 182
nd
day following the Class B Issuance Date (the “First Conversion Date”); (ii) on the
one-year
anniversary of the Class B Issuance Date; (iii) on the
one-year
anniversary of the First Conversion Date; and (iv) on the
two-year
anniversary of the Class B Issuance Date.
If the conversion of any shares of Class B common stock would result in the conversion of any fractional share, the number of shares so converted will be rounded down to the nearest whole number. Notwithstanding the
 
 
foregoing conversion terms, our board of directors may accelerate the conversion of all or any portion of Class B common stock to earlier times, including to permit participation of holders of Class B common stock in underwritten secondary public offerings or for any other reason.
Members’ Equity (all numbers presented as whole numbers)
Prior to the Corporate Reorganization, Guardian Pharmacy, LLC had two classes of members: preferred and common. Generally, 1.0 preferred unit was issued for each $1,000 of capital contributed prior to March 1, 2007, and 0.8338 preferred units were issued for each $1,000 of capital contributed from March 1, 2007 to February 28, 2011. Subsequent to February 28, 2011, 0.5087 preferred units were issued for each $1,000 contributed. In addition, preferred unit holders were entitled to a preferred return of 6% annually on their unrecovered capital balance. As of December 31, 2024, there was no unrecovered capital or unpaid preferred return outstanding.
Prior to the Corporate Reorganization, net income and distributions were allocated to the preferred and common unit holders in accordance with the Guardian Pharmacy, LLC Operating Agreement. In the case of certain events, the preferred units could have been converted into common units on a
one-to-one
basis. Additionally, common units in the Company could have been issued in exchange for minority interests owned in a subsidiary.
Income Taxes
The Company is a taxable entity. As discussed in Note 1, prior to the Corporate Reorganization, Guardian Pharmacy, LLC was comprised of entities treated as partnerships for income tax purposes, and the federal income taxes on taxable income or losses realized by Guardian Pharmacy, LLC were the obligation of the individual members or partners. As a result of the Corporate Reorganization, the Company is subject to federal and state corporate income taxes. The accompanying financial statements include a provision for income taxes based on the period when the Company’s operations are taxable.
The Company accounts for income taxes pursuant to the asset and liability method of ASC 740, Income Taxes, which requires it to recognize current tax liabilities or receivables for the amount of taxes it estimates are payable or refundable for the current year and deferred tax assets or liabilities for the expected future tax consequences of events that have been included in the financial statements. Deferred tax assets or liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities as measured by the enacted tax rates as well as net operating losses and credit carryforwards, which will be in effect when these differences reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period enacted. A valuation allowance is provided when, based upon the available evidence, it is more likely than not that a portion or all of a deferred tax asset will not be realized.
In determining the Company’s tax expense for financial reporting purposes, the Company establishes a reserve when there are transactions, calculations and tax filing positions for which the tax determination is uncertain and it is more likely than not that such positions would not be sustained upon examination. The Company’s policy is to recognize potential interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2024 and 2025, no liability for uncertain tax positions was required. See Note 14
Income Taxes
for additional disclosures regarding income taxes.
The Company prepares and files tax returns based on interpretations of tax laws and regulations. The Company’s tax returns are subject to examination by various taxing authorities in the normal course of business. Such examinations may result in future tax, interest and penalty assessments by these taxing authorities. Prior to the Corporate Reorganization, Guardian Pharmacy, LLC was subject to minimal state income taxes, including the Texas margin tax.
 
 
New Accounting Pronouncements
The following table provides a description of recent accounting pronouncements that are applicable to the Company’s Consolidated Financial Statements:
 
New Accounting Standards Adopted
ASU Number and
Name
   
Description
   
Date of Adoption
   
Effect on the unaudited interim Consolidated
Financial Statements upon adoption
2023-07,
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures		    ASU
2023-07
requires companies to disclose significant segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and are included within each reported measure of segment operating results. The standard also requires companies to disclose the total amount of any other items included in segment operating results which were not deemed to be significant expenses for separate disclosure, along with a qualitative description of the composition of these other items. In addition, the standard also requires disclosure of the CODM’s title and position, as well as detail on how the CODM uses the reported measure of segment operating results to evaluate segment performance and allocate resources. The standard also aligns interim segment reporting disclosure requirements with annual segment reporting disclosure requirements. The standard requires retrospective application		    January 1, 2024 for annual disclosures. January 1, 2025 for interim disclosures.    The Company adopted the standard on January 1, 2024. See Note 12
Segments
for new disclosures.
 
New Accounting Standards Adopted
ASU Number and
Name
   
Description
   
Date of Adoption
   
Effect on the unaudited interim Consolidated
Financial Statements upon adoption
   to all prior periods presented.      
2023-09,
Income Taxes (Topic 740): Improvements to Income Tax Disclosures		    ASU
2023-09
enhances the transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The standard requires the annual financial statements to include consistent categories and greater disaggregation of information in the rate reconciliation, and income taxes paid disaggregated by jurisdiction.		    January 1, 2025 for annual disclosures.    The Company adopted the standard on January 1, 2025. See Note 14
Income Taxes
for new disclosures.
2024-01,
Scope Application of Profits Interest and Similar Awards		    ASU
2024-01
clarifies the scope application of profits interest and similar awards by adding illustrative guidance in ASC 718 -
Compensation - Stock Compensation.
   January 1, 2025 for annual and interim disclosures    The Company adopted the standard as of January 1, 2025, with no material impact on the Consolidated Financial Statements.
2024-03,
Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic
220-40)
    ASU
2024-03
requires Public Business Entities to disclose disaggregated information about specific natural expense categories underlying certain income statement expense line items that are considered “relevant.”		    January 1, 2027 for annual disclosures; January 1, 2028 for interim disclosures    The Company will adopt the new disclosures for the annual periods beginning on January 1, 2027. The Company is currently evaluating the impact of the incremental disaggregated expense information that will be required to be disclosed.
2025-03,
Business Combinations (Topic 805) and Consolidation		    ASU
2025-03
revises the guidance in ASC 805 on identifying the accounting acquirer in a business combination in which the		    January 1, 2027 for annual disclosures.    The Company will adopt the new disclosures for the annual periods beginning on January 1, 2027. The Company is currently evaluating the impact of the new standard.
 
New Accounting Standards Adopted
ASU Number and
Name
   
Description
   
Date of Adoption
   
Effect on the unaudited interim Consolidated
Financial Statements upon adoption
(Topic 810):Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity    legal acquiree is a variable interest entity (VIE). The ASU is intended to improve comparability between business combinations that involve VIEs and those that do not.      
2025-05,
Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets		    ASU
2025-05
amends ASC
326-202
to provide a practical expedient (for all entities) and an accounting policy election (for all entities, other than public business entities, that elect the practical expedient) related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under ASC 606.		    January 1, 2026 for annual and interim disclosures.    The Company will adopt the new disclosures for the annual periods beginning on January 1, 2026, and expects for it to have no material impact on the financial statements.
2025-04,
Compensation — Stock
Compensation (Topic 718) and
Revenue from Contracts with
Customers (Topic 606): Clarifications to Share-Based Consideration
Payable to a Customer
    ASU
2025-04
clarifies the guidance in both ASC 606 and ASC 718 on the accounting for share-based payment awards that are granted by an entity as consideration payable to its customer. The ASU is intended to reduce diversity in practice and improve existing guidance, primarily by revising the definition of a “performance condition” and eliminating a forfeiture policy election for service conditions associated with share-based consideration payable to a customer.		    January 1, 2027 for annual disclosures.    The Company will adopt the new disclosures for the annual periods beginning on January 1, 2027. The Company is currently evaluating the impact of the new standard.
 
 
New Accounting Standards Adopted
ASU Number and
Name
   
Description
   
Date of Adoption
   
Effect on the unaudited interim Consolidated
Financial Statements upon adoption
2025-06—

Intangibles—
Goodwill and
Other—Internal-

Use Software (Subtopic
350-40):
Targeted Improvements to the Accounting for
Internal-Use
Software		    ASU
2025-06
amends certain aspects of the accounting for and disclosure of software costs under ASC
350-40.
    January 1, 2028 for annual and interim disclosures.    The Company will adopt the new disclosures for the annual periods beginning on January 1, 2028. The Company is currently evaluating the impact of the new standard.
All other new accounting pronouncements that have been issued, but not yet effective are currently being evaluated and at this time are not expected to have a material impact on our financial position or results of operations.
v3.25.4
Acquisitions
 12 Months Ended
Dec. 31, 2025
Business Combinations [Abstract]  
Acquisitions
3.
Acquisitions
The Company’s growth strategy involves periodically acquiring institutional pharmacies servicing LTCFs and their residents as well as residents in other care settings. The Company’s strategy includes the acquisition of freestanding institutional pharmacy businesses as well as other assets, generally less significant in size, which are combined with existing pharmacy operations to augment internal organic growth.
2025 Acquisitions
During the year ended December 31, 2025, the Company completed acquisitions of various pharmacy operations (the “2025 Acquisitions”).
Total consideration for the 2025 Acquisitions included $13,725 
of cash, $125 of 
deferred inventory payments, 24,075 shares of Class B common stock with a fair value of $441, and contingent earnout payments of up to $2,600 if certain revenue and earnings targets are achieved by certain acquired entities during the first full four quarters subsequent to the acquisition date. The fair value of the shares of Class B common stock issued was determined based on the closing share price of the Company’s Class A common stock on the acquisition date, discounted for a lack of registration, as the Class B common stock remains unregistered. The fair value of the contingent consideration arrangements at the acquisition dates and at December 31, 2025 was $2,600. The total preliminary purchase consideration for the 2025 Acquisitions was $16,891.
The 2025 Acquisitions included
non-controlling
interests, for which the fair value was estimated to be $3,609. The fair value of the
non-controlling
interests was estimated by utilizing the implied fair value of the
non-controlling
interest, determined based on the acquisition purchase price, and considering discounts necessary due to the lack of marketability and lack of control associated with the
non-controlling
interest. We incurred an immaterial amount of acquisition costs in connection with the 2025 Acquisitions.
The 2025 Acquisitions were treated as purchase
s
in accordance with ASC 805, Business Combinations, which requires recognition of the estimated fair values of assets acquired and liabilities assumed in a transaction. Our recognition of the assets acquired and liabilities assumed was based on management’s judgment after evaluating
 
several factors, including a valuation assessment. There were no material measurement period adjustments recognized in periods subsequent to the 2025 Acquisitions.
The recognition of the assets and liabilities of the 2025 Acquisitions as of December 31, 2025 is as follows:
 
(in thousands)
   
Fair Value
  
Total purchase consideration
    $ 16,891  
Net assets acquired:
   
Inventory
      1,891  
Other assets
      4,362  
Intangible Assets
      6,876  
Other liabilities
      (3,076 ) 
Non-controlling
interest equity
      (3,609 ) 
  
 
 
  
Net assets acquired
      6,444  
  
 
 
  
Goodwill
    $ 10,447  
  
 
 
  
Goodwill and Intangible Assets
Goodwill represents the excess of the purchase price over the estimated fair value of the identifiable net assets acquired in the 2025 Acquisitions. Goodwill represents future economic benefits expected to arise from the Company’s expanded presence in the long-term care pharmacy industry, the assembled workforce acquired, expected revenue synergies, as well as operating efficiencies and cost savings. Of the $10,447 of goodwill recorded related to the 2025 Acquisitions, $8,136 is expected to be deductible for tax purposes.
Intangible assets are comprised of customer lists and trademarks. The fair values for the customer lists and trademarks were $6,586 and $290, respectively. The weighted average useful lives for the customer lists and trademarks were 10 years and 5 years, respectively.
Consolidated Results of Operations
The results of operations for the 2025 Acquisitions have been included in the consolidated financial statements since the dates of acquisition. During the year ended December 31, 2025, the Company’s consolidated statements of operations included $40,146 of revenue associated with the 2025 Acquisitions. Net income associated with the 2025 Acquisitions is not material to the consolidated financial statements.
The comparable prior period results of operations associated with the 2025 Acquisitions are not material to the consolidated financial statements, and as such, supplemental pro forma financial information is not presented.
2024 Acquisitions
In 2024, the Company completed acquisitions of various pharmacy operations (the “2024 Acquisitions”). Total consideration for the 2024 Acquisitions included cash of $14,710, and contingent earnout payments of up to $2,700 if certain revenue and earnings targets are achieved by certain acquired entities during the
two-year
period subsequent to the respective acquisition dates. The fair value of the contingent consideration arrangement at the acquisition dates and as of December 31, 2024 was $2,700, and at December 31, 2025 was $500. During the year ended December 31, 2025, we made payments totaling $2,200 to settle a portion of the contingent consideration. The total purchase consideration for the 2024 Acquisitions was $17,410.
 
 
The 2024 Acquisitions included
non-controlling
interests, for which the fair value was estimated to be $5,371 at the time of the Acquisitions. The fair value of the
non-controlling
interests was estimated by utilizing the implied fair value of the
non-controlling
interests, determined based on the acquisition price, and considering discounts necessary due to the lack of marketability and lack of control associated with the
non-controlling
interests. During 2024, we incurred an immaterial amount of acquisition costs in connection with the 2024 Acquisitions.
The 2024 Acquisitions were treated as a purchase in accordance with ASC 805, Business Combinations, which requires recognition of the estimated fair values of assets acquired and liabilities assumed in a transaction. Our recognition of the assets acquired and liabilities assumed was based on management’s judgment after evaluating several factors, including a valuation assessment. There were no material measurement period adjustments recognized in periods subsequent to the 2024 Acquisitions.
The recognition of the assets and liabilities of the 2024 Acquisitions was as follows during 2024:
 
(in thousands)
   
Fair Value
  
Total purchase consideration
    $ 17,410  
Net assets acquired:
   
Inventory
      2,671  
Other assets
      2,446  
Intangible Assets
      6,236  
Other liabilities
      (1,822 ) 
Non-controlling
interest equity
      (5,371 ) 
  
 
 
  
Net assets acquired
      4,160  
  
 
 
  
Goodwill
    $ 13,250  
  
 
 
  
Goodwill and Intangible Assets
Goodwill represents the excess of the purchase price over the estimated fair value of the identifiable net assets acquired in the 2024 Acquisitions. Goodwill represents future economic benefits expected to arise from the Company’s expanded presence in the long-term care pharmacy industry, the assembled workforce acquired, expected revenue synergies, as well as operating efficiencies and cost savings. Of the $13,250 of goodwill recorded related to the 2024 Acquisitions, $9,957 is expected to be deductible for tax purposes.
Intangible assets are comprised of customer lists and trademarks. The fair values for the customer lists and trademarks were $5,686 and $550, respectively. The weighted average useful lives for the customer lists and trademarks were 10 years and 5 years, respectively.
Consolidated Results of Operations
The results of operations for the 2024 Acquisitions have been included in the consolidated financial statements since the dates of acquisition.
The comparable prior period results of operations associated with the 2024 Acquisitions are not material to the consolidated financial statements, and as such, supplemental pro forma financial information is not presented.
v3.25.4
Property and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment
4.
Property and Equipment
Property and equipment are depreciated on a straight-line basis over the period of their estimated useful lives. As of December 31, 2025, the estimated useful lives of the Company’s assets are as follows:
 
Pharmacy and lab equipment
    5 - 7 years
Automobiles
    3 years
Computer equipment and software
    3 years
Leasehold improvements
    Lesser of useful life or lease term
Furniture, fixtures, and office equipment
    5 years
Property and equipment as of December 31, consisted of the following:
 
    
2024
     
2025
  
Pharmacy and lab equipment
    $ 68,635      $ 76,489  
Automobiles
      18,855        19,511  
Computer equipment and software
      15,087        16,207  
Leasehold improvements
      17,345        22,390  
Furniture, fixtures, and office equipment
      7,941        8,770  
  
 
 
     
 
 
  
     127,863      143,367  
Less accumulated depreciation
      (77,980 )       (87,845 ) 
  
 
 
     
 
 
  
Total property and equipment, net
    $ 49,883      $ 55,522  
  
 
 
     
 
 
  
Depreciation expense for the years ended December 31, 2024 and 2025 was $16,470 and $18,677 respectively. Depreciation of assets is reported on the Consolidated Statements of Operations as either Cost of goods sold or Selling, general and administrative expense, as determined by the nature of the asset. Depreciation expense reported in Cost of goods sold for the years ended December 31, 2024 and 2025 was $7,060 and $8,001, respectively. Depreciation expense reported in Selling, general and administrative expense for the years ended December 31, 2024 and 2025 was $9,410 and $10,676, respectively.
v3.25.4
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
5.
Goodwill and Intangible Assets
The Company assesses the value of its goodwill at the reporting unit level under either a qualitative or quantitative approach. When applying a qualitative approach, the Company assesses the likelihood of goodwill impairment to assess whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. On October 1, 2025, the Company performed its annual impairment assessment, under a qualitative approach, and as a result no impairment was recognized in the current period as a result of the Company’s assessment. Further, no significant events or conditions occurred during the quarter ended December 31, 2025 that would have affected the conclusions of the Company’s annual assessment.
A summary of the change in the carrying amount of goodwill for the year ended December 31, 2025 is as follows:
 
Balance at December 31, 2024
    $ 69,296  
Acquisitions
      10,447  
  
 
 
  
Balance at December 31, 2025
    $ 79,743  
  
 
 
  
 
 
Intangible assets consist primarily of customer lists and trademarks related to the businesses acquired. Customer lists, trademarks and other intangible assets are amortized on a straight-line basis, which approximates the expected future cash flows, over the period of their estimated useful lives as follows:
 
Customer lists
    9 to 10 years
Trademarks and other intangible assets
    5 to 20 years
The carrying amount and accumulated amortization of the customer lists, trademarks and other intangible assets as of December 31 are as follows:
 
    
2024
     
2025
  
    
Gross

Carrying

Amount
     
Accumulated

Amortization
    
Net

Carrying

Amount
     
Gross

Carrying

Amount
     
Accumulated

Amortization
    
Net

Carrying

Amount
  
Intangible assets:
                
Customer lists
    $ 47,953      $ (34,889 )    $ 13,064      $ 54,883      $ (38,156 )    $ 16,727  
Trademarks and other intangible assets
      7,731        (5,883 )      1,848        8,021        (6,273 )      1,748  
  
 
 
     
 
 
    
 
 
     
 
 
     
 
 
    
 
 
  
Total intangible assets
    $ 55,684      $ (40,772 )    $ 14,912      $ 62,904      $ (44,429 )    $ 18,475  
  
 
 
     
 
 
    
 
 
     
 
 
     
 
 
    
 
 
  
Amortization expense related to finite-lived intangible assets for the years ended December 31, 2024 and 2025 was $3,302 and $3,658, respectively.
The estimated amortization expense for the next five years ending December 31 and thereafter is as follows:
 
2026
    $ 2,807  
2027
      2,059  
2028
      1,665  
2029
      1,545  
2030
      1,452  
Thereafter
      8,947  
  
 
 
  
Total
    $ 18,475  
  
 
 
  
v3.25.4
Lease Obligations
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lease Obligations
6.
Lease Obligations
Lease Population
The Company leases various real estate, including certain operating facilities. warehouses, and office space, all of which are operating leases. The Company also leases pharmacy equipment and vehicles, all of which are finance leases. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease.
 
 
Lease Position
The following table summarizes the lease-related assets and liabilities recorded on the Company’s Consolidated Balance Sheets as of December 31:
 
         
December 31,
  
Assets
   
Balance Sheet Location
   
2024
    
2025
  
Operating lease assets
    Operating lease
right-of-use
assets		    $ 29,079     $ 34,649  
Finance lease asset
s
    Property and equipment, net      6,870       7,221  
     
 
 
    
 
 
  
Total lease assets
       $ 35,949     $ 41,870  
     
 
 
    
 
 
  
Liabilities
        
Current
        
Operating lease liabilities
    Operating leases, current portion    $ 6,836     $ 7,150  
Finance lease liabilitie
s
    Other current liabilities      3,783       3,880  
Noncurrent
        
Operating lease liabilities
    Operating leases, net of current portion      23,297       29,992  
Finance lease liabilitie
s
    Other liabilities      3,416       3,702  
     
 
 
    
 
 
  
Total lease liabilities
       $ 37,332     $ 44,724  
     
 
 
    
 
 
  
Weighted-average remaining lease term
        
Operating leases
        
4.8
 
years		       4.8 years  
Finance leases
         2.3 years       2.2 years  
Weighted-average discount rate
        
Operating leases
         5.51 %      5.67 % 
Finance leases
         6.02 %      5.75 % 
Lease Costs
The following tables summarize the lease-related costs for finance and operating leases for the years ended December 31:
 
    
2024
     
2025
  
Finance lease cost
      
Amortization of leased assets
    $ 4,212      $ 4,367  
Interest on lease liabilities
      498        569  
Operating lease cost
      8,405        9,348  
Short-term lease cost
      233        129  
Variable lease cost
      2,092        2,520  
  
 
 
     
 
 
  
Total lease cost
    $ 15,440      $ 16,933  
  
 
 
     
 
 
  
 
 
Other Information
 
    
Year Ended
December 31, 2024
     
Year Ended
December 31, 2025
  
Cash paid for amounts included in the measurement of lease liabilities
      
Operating cash flows for operating leases
    $ 10,634      $ 11,848  
Operating cash flows for finance leases
    $ 442      $ 557  
Financing cash flows for finance leases
    $ 4,481      $ 4,483  
Changes in the balance of the operating lease ROU asset and operating lease liability are recorded on a net basis within Other, as adjustments to net income on the operating activities section of the Consolidated Statements of Cash Flows.
Non-cash
operating lease ROU assets obtained in exchange for operating lease liabilities were $7,489 and $13,240 during the years ended December 31, 2024 and 2025, respectively.
Undiscounted Cash Flows
The table below reconciles the undiscounted cash flows for each of the first five years and the total of the remaining years to the operating lease liabilities and finance lease liabilities recorded on the December 31, 2025 Consolidated Balance Sheet.
 
    
Operating

Leases
     
Finance

Leases
  
2026
    $ 8,963      $ 4,201  
2027
      9,220        2,690  
2028
      8,498        1,041  
2029
      7,691        138  
2030
      5,127        —   
Thereafter
      3,288        —   
  
 
 
     
 
 
  
Total lease payments
      42,787        8,070  
Less: amount of lease payments representing interest
      (5,645 )       (488 ) 
  
 
 
     
 
 
  
Present value of future lease payments
      37,142        7,582  
Less: current obligations under leases
      (7,150 )       (3,880 ) 
  
 
 
     
 
 
  
Long-term lease obligations
    $ 29,992      $ 3,702  
  
 
 
     
 
 
  
v3.25.4
Debt Arrangements
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Debt Arrangements
7.
Debt Arrangements
Line of credit
On May 13, 2024, the Company entered into the Sixth Amendment to Third Amended and Restated Loan and Security Agreement (the “Amendment”)to the existing credit facility (“Credit Facility”). The amendment extended the line of credit termination date from April 23, 2025 to April 23, 2027. The line of credit now bears an interest rate equal to the
one-month
Secured Overnight Financing Rate (“SOFR”) plus an additional rate of 1.80% to 2.80% based on certain financial ratios maintained by the Company. The total amount available under
the line of credit as of December 31, 2025 is $40,000. We had no amounts outstanding under the line of credit as of December 31, 2024 and 2025.
Term loan
Additionally, the Amendment added a new term loan of $15,000 to the Credit Facility and extended the maturity date of the existing and new term loan (collectively referred to as the “Term Loan”) to April 23, 2027. The interest rate of the Term Loan
acc
r
ued
interest
 at a
rate equal to the
one-month
SOFR plus an additional rate of 1.80% to 2.80% based on certain financial ratios maintained by the Company. Prior to the payoff discussed below, the Term Loan was payable in quarterly installments of $1,375 through March 31, 2027, with the remaining balance of the term loan due in a final lump sum payment at maturity on April 23, 2027. On December 9, 2024, the Term Loan was paid off in full, with no future payment obligations. We had no amounts outstanding under the term Term Loan as of December 31, 2024 and 2025.
v3.25.4
Retirement Plan
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Retirement Benefits [Text Block]
8.
Retirement Plan
The Company sponsors a 401(k) plan for eligible employees. All full-time employees are eligible to participate in the plan as of the first of the month following thirty days of employment with employer contributions vesting after two years of employment. The maximum matching percentage for the years ended December 31, 2024 and 2025, was 3.5% of participant contributions. The Company made matching contributions for the years ended December 31, 2024 and 2025 in the amount of $5,075 and $6,061, respectively. These contributions are recorded to selling, general, and administrative expenses or cost of goods sold on the consolidated statements of operations, dependent on the nature of each employee’s responsibilities.
v3.25.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
9.
Commitments and Contingencies
The Company is subject to legal proceedings and claims that arise in the ordinary course of business. The Company may have exposure to loss contingencies arising from pending or threatened litigation for which assessing and estimating the outcomes of these matters involve substantial uncertainties. The Company evaluates contingencies on an ongoing basis and establishes loss provisions for matters in which losses are probable and the amount of loss can be reasonably estimated.
Legal expenses include attorneys’ fees, litigation expenses and settlements. For the years ended December 31, 2024 and 2025, the Company recorded legal expenses totaling $5,084 and $6,333, respectively.
v3.25.4
Basic and Diluted Loss Per Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Basic and Diluted Loss Per Share
10.
Basic and Diluted Loss Per Share
Basic earnings per share of Class A common stock and Class B common stock is computed by dividing net income attributable to Guardian Pharmacy Services, Inc. by the weighted-average number of shares of Class A common stock and Class B common stock outstanding during the period. The Class A common stock and Class B common stock are identical in their rights and privileges, except that shares of Class B common stock are subject to transfer restrictions prior to their conversion into shares of Class A common stock. Therefore, the basic earnings per share for Class A common stock and Class B common stock will be equal. Diluted earnings per share of Class A common stock and Class B common stock is computed by dividing net income attributable to Guardian Pharmacy Services, Inc. by the weighted-average number of shares of Class A common stock and Class B common stock outstanding, adjusted to give effect to potentially dilutive elements.
The Company analyzed the calculation of earnings per unit, related to units of Guardian Pharmacy, LLC, for periods prior to the IPO and determined that it resulted in values that would not be meaningful to the users of
 
 
these consolidated financial statements. Further, the Company had no operations prior to the Corporate Reorganization and the number of shares issued prior to the Corporate Reorganization was 100, which we have determined is not meaningful. Therefore, the basic and diluted earnings per share calculations for the year ended December 31, 2024 represent the post IPO period from September 27, 2024 to December 31, 2024 only.
The following table sets forth (in thousands) the computation of net income (loss) attributable to the Company used to compute basic net income (loss) per share of Class A common stock and Class B common stock for the years ended December 31, 202
4
and 2025.

(in thousands)
 
Year Ended December 31, 2024
 
  
Year Ended December 31, 2025
 
Numerator:
    
Net income (loss)
   $ (71,033 )    $ 48,958  
Less: Net income attributable to Guardian Pharmacy, LLC prior to the Corporate Reorganization
     22,760       —   
Less: Net income attributable to noncontrolling interests
     16,254       (261 ) 
 
 
 
    
 
 
  
Net income (loss) attributable to Guardian Pharmacy Services, Inc.   $ (110,047 )    $ 49,219  
 
 
 
    
 
 
  
The following table sets forth the computation of basic and diluted net income per share of Class A common stock and Class B common stock (in thousands, except share amounts, and per share amounts):


 
  
Year Ended December 31, 2024
 
  
Year Ended December 31, 2025
 
 
  
Class A
 
  
Class B
 
  
Class A
 
  
Class B
 
Basic net income (loss) per share attributable to common stockholders
            
Numerator:
            
Allocation of net income (loss) attributable to Guardian Pharmacy Inc.
    $ (16,261 )     $ (93,786 )     $ 18,099      $ 31,120  
Denominator:
            
Weighted average number of shares of Class A and Class B common stock outstanding
      9,162,500        52,843,311        22,941,398        39,444,855  
  
 
 
     
 
 
     
 
 
     
 
 
  
Basic net income (loss) per share attributable to common stockholders
    $ (1.77 )     $ (1.77 )     $ 0.79      $ 0.79  
  
 
 
     
 
 
     
 
 
     
 
 
  
Diluted net income (loss) per share attributable to common stockholders
            
Numerator:
            
Allocation of net income (loss) attributable to Guardian Pharmacy Inc.
    $ (16,261 )     $ (93,786 )     $ 18,099      $ 31,120  
 
 
  
Year Ended December 31, 2024
 
  
Year Ended December 31, 2025
 
 
  
Class A
 
  
Class B
 
  
Class A
 
  
Class B
 
Denominator:
  
  
  
  
Number of shares used in basic computation
      9,162,500        52,843,311        22,941,398        39,444,855  
Dilutive Restricted Stock Units and Class A and B Common Stock
      —         —         334,956        575,914  
  
 
 
     
 
 
     
 
 
     
 
 
  
Weighted average shares of Class A and Class B common stock outstanding used to calculate diluted net income (loss) per share
      9,162,500        52,843,311        23,276,354        40,020,769  
  
 
 
     
 
 
     
 
 
     
 
 
  
Diluted net income (loss) per share attributable to common stockholders
    $ (1.77 )     $ (1.77 )     $ 0.78      $ 0.78  
  
 
 
     
 
 
     
 
 
     
 
 
  
The following
 potentially dilutive shares for the year ended December 31, 2024 were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive. There were
no
anti-dilutive shares in the year ended December 31, 2025.
 
    
Year Ended
December, 31 2024
  
    
Class A
     
Class B
  
Anti-dilutive unvested Restricted Stock Units and Class B Common Stock
      99,892        576,113  
  
 
 
     
 
 
  
Total anti-dilutive securities
      99,892        576,113  
  
 
 
     
 
 
  
v3.25.4
Share-based Compensation
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-based Compensation
11.
Share-based Compensation
Prior to the Corporate Reorganization and IPO, share-based compensation expense primarily related to awards in the form of Restricted Interest Units. These cash-settled awards were recorded as liabilities until payout was made or the award was forfeited. These units vested in their entirety on the third anniversary of their grant date. Vesting was subject to continued service. Compensation costs were recognized ratably over the vesting period based upon the value of the awards as of period end.
The value of these awards was remeasured and reported as Share-based compensation liability on the accompanying Consolidated Balance Sheets at the end of each reporting period based on the change in calculated value of the shares pursuant to the prescribed calculation contained in the Restricted Interest Purchase Agreements. The primary inputs used to value the awards were the volume and accumulated vesting status of the issued awards and the historical adjusted earnings of the Company (inclusive of share-based compensation expense (income), outstanding capital and debt obligations of the Company as of the measurement date). The liability and corresponding expense were adjusted accordingly until the awards are settled. Vested Restricted Interest Units are typically repurchased by the Company upon termination of employment at the calculated value.
Prior to the Corporate Reorganization, for the year ended December 31, 2024, the Company recorded $5,673 of share-based compensation expense, related to the Restricted Interest Units.
 
 
Restricted Interest Units Conversion
In connection with the Corporate Reorganization and IPO, Restricted Interest Unit awards associated with the Converted Subsidiaries and Guardian Pharmacy, LLC were converted to Common Units of Guardian Pharmacy, LLC, with the Common Units in Guardian Pharmacy, LLC then being converted into 12,321,282 shares of Class B common stock of the Company, some of which are subject to additional service vesting requirements (see Note 1
Organization and Background
above for further discussion of the Corporate Reorganization and IPO). This conversion of Restricted Interest Units was treated as a modification, and as a result, the Company recognized $125,741 of incremental share-based compensation expense during the year ended December 31, 2024, attributable to the increased fair value of the vested units.
As the modified Restricted Interest Units were ultimately converted into Class B common stock of the Company, the fair value of the awards was calculated based on the fair value of Class A common stock issued in the IPO, discounted for a lack of registration, as the Class B common stock is unregistered.
The discount was determined using the Finnerty Model using the following assumptions:
 
    
Year ended December
  
    
31, 2024
  
Volatility
      60.0 % 
Expected life (in months)
      6.0  
Risk-free rate
      4.3 % 
Price per unit
    $ 14.00  
We estimated the future stock price volatility based on the volatility of a set of publicly traded comparable companies with a look back period consistent with the expected life. The estimated life was based on the assumed period of time required should the Company choose to register the Class B common stock. The risk-free rate is based on the rate for a U.S. government security with the same estimated life. The Class B common stock issued in connection with the Corporate Reorganization and IPO will convert to Class A common stock over a period of two years following the date of issuance, which was the closing date of the IPO, and as such, the price per unit is based on the IPO price of Class A common stock of $14.00.
Certain Class B common stock issued as incentive awards converted to unvested Class A common stock as part of the Class B common stock conversion to Class A common stock discussed in
Note 1 Organization and Background
. Class A common stock and Class B common stock issued as incentive awards, activity is as follows during the periods indicated.
 
    
Class A Common Stock
and B Common Stock
     
Weighted Average Grant
Date Fair Value
  
Unvested at September 27, 2024
      —        $ —   
Granted
      12,321,282      $ 12.67  
Vested
      (11,070,502 )     $ 12.60  
Forfeited
      (7,074 )     $ 13.30  
  
 
 
     
Unvested at December 31, 2024
      1,243,706      $ 13.30  
Vested
      (1,242,394 )     $ 13.30  
Forfeited
      (1,312 )     $ 13.30  
  
 
 
     
Unvested at December 31, 2025
      —      
  
 
 
     
 
 
In addition to the Class B common stock issued in connection with the Corporate Reorganization and IPO, the Company has share-based compensation awards in the form of Restricted Stock Units for Class A common stock of the Company (discussed further below), and Restricted Interest Unit awards (related to the
Non-Converted
Subsidiaries) of Guardian Pharmacy, LLC. The Restricted Interest Unit awards outstanding subsequent to the IPO are immaterial to the financial statements.
2024 Equity and Incentive Compensation Plan
In connection with the IPO and the Corporate Reorganization, the Company adopted the Guardian Pharmacy Services, Inc. 2024 Equity and Incentive Compensation Plan (the “2024 Plan”). The 2024 Plan became effective on September 27, 2024 upon consummation of the IPO, in accordance with its terms. The number of shares of our Class A common stock available for awards under the 2024 Plan shall be, in the aggregate,
 2,000,000 shares (the “Overall Share Limit”). The Overall Share Limit will be automatically increased on the first day of each fiscal year, beginning in 2025 and ending in 2034, by an amount equal to the lesser of (a) 1% of the shares of our common stock (including both Class A common stock and Class B common stock) outstanding on the last day of the immediately preceding fiscal year and (b) such smaller number of shares as determined by our board of directors. Such shares may be shares of original issuance or treasury shares or a combination of the two.
2025 Long-Term Incentive Program Awards
On February 5, 2025, the Compensation Committee of the Company’s Board of Directors approved the Company’s 2025 long-term incentive program (“2025 LTIP”), consisting of restricted stock unit awards covered by Class A common stock made available under approval of the 2024 Plan.
Restricted Stock Units (“RSU”) Awards
During the years ended December 31, 2024 and 2025, the Company granted RSU awards to certain board members, executives and management employees. The stock price used to determine the award value was the closing price on the grant date of the award. These awards cliff vest after a defined time period subsequent to the grant date of each award, and upon vesting are settled in shares of Class A common stock.
Restricted Stock Unit activity was as follows during the periods indicated:
 
    
Restricted Stock Units
     
Weighted Average Grant
Date Fair Value
  
Unvested at September 27, 2024
      —       $ —   
Granted
      10,713      $ 14.00  
Forfeited
      —        $ —   
  
 
 
     
Unvested at December 31, 2024
      10,713      $ 14.00  
  
 
 
     
Granted
      637,181      $ 19.98  
Vested
      (10,713 )     $ 14.00  
Forfeited
      (14,173 )     $ 19.75  
  
 
 
     
Unvested at December 31, 2025
      623,008      $ 19.99  
  
 
 
     
 
Share-based Compensation Expense
Share-based compensation expense is recorded to selling, general, and administrative expenses in the consolidated statement of operations. For the years ended December 31, 2024 and 2025, the Company recorded $131,490 and $
13,850
of share-based compensation expense, respectively.
 
    
Year Ended
December 31,
  
    
2024
     
2025
  
Pre-IPO
awards
    $ 5,673      $ —   
Restricted Interest Unit Conversion Awards Issued in Connection with IPO
      122,244        —   
Unvested Class A and B common stock
      3,498        10,036  
Restricted stock units
      75        3,814  
  
 
 
     
 
 
  
Total share-based compensation expense (income)
    $ 131,490      $ 13,850  
  
 
 
     
 
 
  
As of December 31, 2025, unamortized share-based compensation costs related to each share-based incentive award described above is as follows (in thousands, except for the remaining service period):
 
    
Amount
     
Weighted Average

Remaining Service Period
(years)
  
Restricted stock units
      8,714        2.1  
  
 
 
     
Total unamortized share-based compensation cost
    $ 8,714     
  
 
 
     
The Company accounts for forfeitures as they occur for each share-based incentive award above.
v3.25.4
Segments
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segments
12.
Segments
General Information
The Company has a
single
operating segment, which was determined based on the chief operating decision maker (“CODM”), which is our Chief Executive Officer, assessing performance and allocating resources on a consolidated basis.
The operating segment derives its revenues primarily through sales of pharmaceutical and medical products. All long-lived assets were held in the United States as of December 31, 2024 and 2025. All revenues were generated in the United States during the years ended December 31, 2024 and 2025.
Measure of segment profit or loss and assets
The CODM assesses performance of the operating segment and decides how to allocate resources based on net income (loss), which also is reported on the consolidated statements of operations as net income (loss). In addition to comparing net income (loss) against forecasted net income (loss), the CODM uses net income (loss) to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into the operating segment or expansion of the operating segment through acquisitions.
 
 
The measure of operating segment assets is reported on the Consolidated Balance Sheets as total assets.
The accounting policies of the operating segment are the same as those described in the summary of significant accounting policies in Note 2.
Reportable segment reconciliation
The following reconciliation presents operating segment revenue, net income (loss), and significant segment expenses:
 
    
Operating Segment
  
    
2024
     
2025
  
Revenue
    $ 1,228,409      $ 1,448,685  
Less:
      
Employee expenses (excluding share-based compensation expense)
      268,621        309,600  
Share-based compensation expense
      131,490        13,850  
Other segment items
(1)
      871,725        1,028,812  
Depreciation and amortization
      19,772        22,335  
Interest expense
      3,278        665  
Income taxes
      4,556        24,465  
  
 
 
     
 
 
  
Segment net income (loss)
    $ (71,033 )     $ 48,958  
  
 
 
     
 
 
  
Reconciliation of net income (loss) to consolidated statements of operations
      
Adjustments and reconciling items
      —         —   
  
 
 
     
 
 
  
Consolidated net income (loss)
    $ (71,033 )     $ 48,958  
  
 
 
     
 
 
  
 
(1)
Other segment items included in operating segment net income include product expenses, legal expenses, rent and auto lease expenses, utilities expenses, maintenance expenses, and other overhead expenses.
v3.25.4
Related Party Transactions
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions
13.
Related Party Transactions
The Company provides pharmaceutical related services to facilities owned or managed by certain Class B Common Stock stockholders and
non-controlling
interest holders, which are considered to be related parties. Revenues attributed to these facilities was $23,256 and $
4,625
for the years ended December 31, 2024 and 2025, respectively.
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
14.
Income Taxes
Guardian Pharmacy Services, Inc. is taxed as a corporation and is subject to paying corporate federal, state and local taxes on the income attributable to it from its 100% ownership of Guardian Pharmacy, LLC, its economic interest held in the
non-controlling
subsidiaries, as well as any stand-alone income or loss it generates. The
non-controlling
entities are treated as a partnership for U.S. federal and most applicable state and local income tax purposes. Prior to the Corporate Reorganization, Guardian Pharmacy, LLC was comprised of entities treated as partnerships for income tax purposes. As a partnership it was not subject to U.S. federal and certain state and local income taxes. As a result of the Corporate Reorganization, the Company is subject to federal and state corporate income taxes beginning on September 27, 2024.
 
 
The expense (benefit) for income taxes consists:
 
    
Year Ended
December 31,
  
    
2024
     
2025
  
Current:
      
Federal
    $ 2,970      $ 16,229  
State
      885        5,162  
  
 
 
     
 
 
  
Total current tax
      3,855        21,391  
  
 
 
     
 
 
  
Deferred:
      
Federal
      533        1,941  
State
      168        1,133  
  
 
 
     
 
 
  
Total deferred tax
      701        3,074  
  
 
 
     
 
 
  
Provision for income taxes
   
$
4,556
 
   
$
24,465
 
  
 
 
     
 
 
  
The cash tax payments for the period (in thousands):
 
    
Year Ended December 31,
  
    
2024
     
2025
  
US Federal
    $ —       $ 16,880  
US State and Local
      —         4,661  
  
 
 
     
 
 
  
Total income tax payments
   
$
— 
 
   
$
21,541
 
  
 
 
     
 
 
  
 
*
No single state jurisdiction met the 5% disaggregation threshold during the year.
Reconciliation between the Company’s income tax expense and taxes computed at the federal statutory tax rate of 21.0% for calendar years ended December 31, 2025 and 2024 were as follows (in thousands):
 
    
Year Ended December 31,
  
    
2024
    
2025
  
Tax at federal statutory rate
    $ (13,960 )       21.0 %    $ 15,419        21.0 % 
State taxes (net of federal benefit)*
      828        (1.3 )%      4,973        6.8 % 
Nontaxable or nondeductible items:
           
Partnership income (federal) not subject to tax to the Company
      (8,307 )       12.5 %      55        0.1 % 
Nondeductible Compensation
      26,406        (39.7 )%      2,108        2.8 % 
Other
           282        0.4 % 
Return-to-Provision
Adjustments
      (446 )       0.7 %      1,393        1.9 % 
Other Adjustments
      35        (0.1 )%      235        0.3 % 
  
 
 
     
 
 
    
 
 
     
 
 
  
Provision for income taxes
   
$
4,556
 
   
 
(6.9
)% 
  
$
24,465
 
   
 
33.3
% 
  
 
 
     
 
 
    
 
 
     
 
 
  
 
*
No single state jurisdiction met the 5% disaggregation threshold during the years presented.
*
For 2025, state taxes in Tennessee, Florida, Wisconsin, California, and Arizona made up the majority (greater than 50 percent) of the tax effect in this category for 2025. For 2024, state taxes in Florida, Wisconsin, Tennessee, Arizona,, California, and Minnesota made up the majority (greater than 50 percent) of the tax effect in this category.
 
 
The Company’s effective tax rate for the year ended December 31, 2025, was 33.3%. The comparison of the Company’s effective tax rate to the U.S. statutory rate of 21% was primarily due to opening balance sheet adjustments and the $10,039 incremental
share
-based compensation charge in connection with the Corporate Reorganization and IPO. These compensation costs are not
deductible
for federal and state income taxes due to prior Section 83(b) elections.
The Company’s effective tax rate for the year ended December 31, 2024, was (6.9)%. The comparison of the Company’s effective tax rate to the U.S. statutory rate of 21% was primarily due to the $125,741 incremental share-based compensation charge in connection with the Corporate Reorganization and IPO (see Note 11—
Share-based Compensation
for further detail on the share-based compensation charge). These compensation costs are not deductible for federal and state income taxes due to prior Section 83(b) elections. Furthermore, before the Corporate Reorganization, the partnership income from Guardian Pharmacy, LLC and subsidiaries’
non-controlling
interest amounted to $39,115, which is not taxable to the Company.
Deferred Income Taxes
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2024 and 2025 were as follows (in thousands):
 
    
December 31,
  
    
2024
     
2025
  
Deferred tax assets
      
Amortization
    $ 7,939      $ 5,482  
Lease and rents
      7,382        9,103  
Insurance and bad debt reserves
      3,366        3,262  
Accrued expenses
      733        2,161  
Other
      341        309  
  
 
 
     
 
 
  
Total deferred tax assets
      19,761        20,317  
  
 
 
     
 
 
  
Valuation allowance for deferred tax assets
      —         —   
  
 
 
     
 
 
  
Deferred tax assets, net of valuation allowance
    $ 19,761      $ 20,317  
  
 
 
     
 
 
  
Deferred tax liabilities
      
Lease and rents
      (7,139 )       (8,274 ) 
Depreciation
      (6,609 )       (8,529 ) 
Other
      (741 )       (1,315 ) 
  
 
 
     
 
 
  
Net deferred tax assets
   
$
5,272
 
   
$
2,199
 
  
 
 
     
 
 
  
As of December 31, 2025 and 2024, the Company had net deferred tax assets of $2,199 and $5,272, respectively. The decrease is largely attributable to bonus depreciation and goodwill amortization.
As of December 31, 2025 and 2024, the Company concluded, based on all positive and negative evidence that it is more likely than not that all deferred tax assets will be utilized.
As of December 31, 2025 and 2024, the Company did not have any federal or state net operating loss carryforwards.
 
 
Unrecognized Tax Benefits
The Company recognizes income tax benefits for those income tax positions determined more likely than not to be sustained upon examination, based on the technical merits of the positions. No uncertain tax positions existed as of December 31, 2025.
Guardian Pharmacy Services, Inc. and its subsidiaries’ federal tax returns for tax years ended December 31, 2024, have not been examined by the Internal Revenue Service (“IRS”) and remain open as of December 31, 2025. Guardian Pharmacy Services, Inc. and its subsidiaries’ are subject to ongoing state and local examinations for various periods. Activity related to these examinations did not have a material impact on the Company’s financial position or results of operations.
v3.25.4
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Principles of consolidation
Principles of consolidation
The accompanying consolidated financial statements include the accounts of the Company and all controlled subsidiaries (collectively, the “Company”). All intercompany transactions and accounts have been eliminated. Results of operations of the Company’s controlled subsidiaries have been included from the date of acquisition.
Basis of Presentation
Basis of Presentation
The Consolidated Financial Statements are prepared in conformity with the generally accepted accounting principles in the United States of America (“U.S. GAAP”).
The Corporate Reorganization was accounted for as a combination of entities under common control. As a result, the financial reports filed with the SEC by the Company subsequent to the Corporate Reorganization are prepared “as if” Guardian Pharmacy, LLC is the accounting predecessor of the Company. The historical operations of Guardian Pharmacy, LLC are deemed to be those of the Company. Thus, the financial statements included in this report reflect (i) the historical operating results of Guardian Pharmacy, LLC prior to the Corporate Reorganization; (ii) the consolidated results of the Company and Guardian Pharmacy, LLC following the Corporate Reorganization; (iii) the assets and liabilities of the Company and Guardian Pharmacy, LLC at their historical cost; and (iv) the Company’s equity structure for all periods presented. No
step-up
basis of intangible assets or goodwill was recorded.
Guardian Pharmacy, LLC has been determined to be our predecessor for accounting purposes and, accordingly, the consolidated financial statements for periods prior to the Corporate Reorganization have been adjusted to combine the previously separate entities for presentation purposes. The Company’s financial position, results of operations and cash flows effectively represent those of Guardian Pharmacy, LLC as of and for all periods presented.
Use of Estimates
Use of Estimates
The preparation of Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates.
Fair Value
Fair Value
The Company utilizes the three-level valuation hierarchy for the recognition and disclosure of fair value measurements. The categorization of assets and liabilities within this hierarchy is based upon the lowest level of input that is significant to the measurement of fair value. The three levels of the hierarchy consist of the following:
 
  •  
Level 1—Inputs to the valuation methodology are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.
 
 
  •  
Level 2—Inputs to the valuation methodology are quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active or inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the instrument.
 
  •  
Level 3—Inputs to the valuation methodology are unobservable inputs based upon management’s best estimate of inputs that market participants could use in pricing the asset or liability at the measurement date, including assumptions about risk.
Financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to the short maturity of these instruments.
Cash and Cash Equivalents
Cash and Cash Equivalents
Cash consists primarily of demand deposits held with financial institutions. The Company considers all highly liquid investments purchased with an original maturity of three months or less when purchased to be cash equivalents for financial statement presentation.
Accounts Receivable
Accounts Receivable
Accounts receivable consists primarily of amounts due from third parties (e.g., pharmacy benefit managers, insurance companies, governmental agencies, and long-term care facilities) and private pay customers. Accounts receivable are stated at cost less an allowance for credit losses, the net of which approximates fair value.
Allowance for Credit Losses
Allowance for Credit Losses
Collection of accounts receivable from customers is the Company’s primary source of operating cash flow and is critical to the operating performance and the financial condition of the Company. The primary collection risk relates to amounts due from long-term care facilities and private pay customers, as billings to these customers can be complex and may lead to payment disputes or delays. The Company establishes an allowance for accounts receivable considered to be at increased risk of becoming uncollectible to reduce the carrying value of such receivables to their estimated net realizable value.
When establishing this allowance for credit losses, the Company considers such factors as historical collection experience (i.e., payment history and credit losses) and creditworthiness, specifically identified credit risks, aging of accounts receivable, current and expected economic conditions, and other relevant factors. The allowance for credit losses is regularly reviewed for appropriateness. Judgment is used to assess the collectability of account balances and the economic ability of customers to pay. At the time a balance is definitively deemed to be uncollectible, the balance is written off against the allowance for credit losses. The charges recorded for credit losses is reported within Selling, general and administrative expenses on the Consolidated Statements of Operations. As of December 31, 2024 and 2025, the allowance for credit losses was $8,868 and $8,712, respectively.
The table below outlines the activity for the allowance for credit losses for the years ended December 31, 2024 and 2025:
 
Balance at December 31, 2023
    $ 6,171  
Additions
      8,388  
Deductions
      (5,691 ) 
  
 
 
  
Balance at December 31, 2024
      8,868  
Additions
      6,303  
Deductions
      (6,459 ) 
  
 
 
  
Balance at December 31, 2025
    $ 8,712  
  
 
 
  
Rebates
Rebates
The Company receives rebates, discounts, and other price concessions relating to purchases from its suppliers and vendors. The Company estimates rebates earned and the associated receivable from pharmaceutical wholesalers and manufacturers, group purchasing organizations (“GPOs”) and vendors, based on estimates of the
 
 
qualifying prescriptions dispensed or the key products purchased and sold. The receivables are recognized at the end of the period in the Consolidated Financial Statements within Accounts receivable and as a reduction to Cost of goods sold and Inventories as appropriate.
Inventories
Inventories
Inventories consist primarily of purchased pharmaceuticals held for sale to customers. Inventories are recorded at the lower of cost
(first-in,
first-out
method) or net realizable value.
Physical inventory counts are taken quarterly and used to record the inventory balances on hand to ensure the amounts reflected in the accompanying Consolidated Financial Statements are properly stated. Costs include the purchase price of pharmaceuticals, which is reduced for rebates earned associated with inventory remaining at the end of each period, and overhead. There is no significant obsolescence reserve recorded since the Company has not experienced (nor does it expect to experience) significant levels of inventory obsolescence write-offs due to the ability to return unused drugs to its suppliers and vendors for credit.
Property and Equipment
Property and Equipment
Property and equipment are recorded at cost, net of accumulated depreciation. See Note 4
Property and Equipment
for more information.
Leases
Leases
In accordance with Financial Accounting Standards Board (“FASB”), Accounting Standard Codification (“ASC”), 842—Leases (“ASC 842”), the Company has applied the practical expedient to account for the lease and
non-lease
components as a single lease component for all leases. The Company also made an accounting policy election to not recognize
right-of-use
(‘”ROU”) assets and liabilities for leases with a term of 12 months or less unless the lease includes an option to renew or purchase the underlying asset that are reasonably certain to be exercised.
For leases with terms greater than 12 months, the Company records the related asset and obligation at the present value of fixed lease payments over the term. Many of the Company’s leases include rental escalation clauses, renewal options and/or termination options that are factored into the Company’s determination of lease payments when appropriate. Variable lease payments are recognized as incurred.
As the implicit rate is not readily determinable for the Company’s leases, the Company uses an estimated incremental borrowing rate to determine the initial present value of lease payments over the lease terms on a collateralized basis over a similar term, which is based on market and company specific information. The Company applied a portfolio approach using an estimated incremental borrowing rate upon adoption of ASC 842.
Leases that transfer substantially all the benefits and risks of ownership of property to the Company or otherwise meet the criteria for capitalization are accounted for as finance leases. To reflect their purchase and financing, assets acquired under finance leases are recorded on the Consolidated Balance Sheets as Property and equipment, and amounts due under finance leases are recorded as Other Liabilities, Current and Long-Term. Depreciation of assets recorded under finance leases is provided on a straight-line basis over the period of their estimated useful lives (or lease term if shorter) and is reported on the Consolidated Statements of Operations within either Cost of goods sold or Selling, general and administrative expense as determined by the nature of the asset. See Note 6
Lease Obligations
for more information.
Impairment of Long-Lived Assets
Impairment of Long-Lived Assets
The Company’s long-lived assets consist of property and equipment, as well as intangible assets with definite lives. Intangible assets with definite lives primarily include customer lists and trademarks that are recognized as a result of acquisitions. Long-lived assets are reviewed for indicators of impairment whenever events or changes in circumstances indicate that the carrying amount of these assets may not be recoverable.
The Company groups and evaluates long-lived assets for impairment at the lowest level at which individual cash flows can be identified whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If indicators of impairment are present, the Company first compares the carrying amount of the asset group to the estimated future cash flows associated with the asset group (undiscounted and without interest charges). If the estimated undiscounted future cash flows used in this analysis are less than the carrying amount of the asset group, an impairment loss calculation is prepared. The impairment loss calculation compares the carrying amount of the asset group to the asset group’s fair value. If required, an impairment loss is recorded for the portion of the asset group’s carrying value that exceeds the asset group’s fair value. The Company concluded there was no impairment of long-lived assets during the years ended December 31, 2024 or 2025.
Goodwill
Goodwill
Goodwill is the excess of the consideration transferred over the fair value of identifiable net assets acquired in business combinations accounted for under the acquisition method of accounting. The Company does not amortize goodwill. The Company tests its goodwill annually during the fourth quarter of its fiscal year or when events and circumstances indicate that impairment may have occurred and requires impairment charges to be recognized based on the difference between the carrying amount of the reporting unit and its fair value. Impairment testing of goodwill is required at the reporting unit level (operating segment or one level below operating segment). Prior to performing the impairment test, the Company may make a qualitative assessment of the likelihood of goodwill impairment in order to determine whether a detailed quantitative analysis is required. The Company’s annual impairment testing date is October 1.
No impairment of goodwill resulted from the Company’s annual impairment testing in 2024 or 2025. See Note 5
Goodwill and Intangible Assets
for more information.
Intangible Assets
Intangible Assets
The Company’s intangible assets with definite lives primarily include customer lists and trademarks. Intangible assets are stated at their acquired fair value less accumulated amortization. These assets are amortized over periods ranging from five to twenty years using a straight-line method, which approximates the period over which expected future cash flows are derived. The Company considers the period of expected cash flows and underlying data to be the best estimate in measuring fair value when determining their useful lives.
Contingent Consideration
Contingent Consideration
When an acquisition involves a contingent consideration arrangement, the Company recognizes a liability as of the acquisition date equal to the fair value of expected contingent payments. This liability is remeasured each reporting period and changes in the fair value are reported within Selling, general and administrative expenses on the Consolidated Statements of Operations. Increases or decreases in the fair value of the contingent consideration liability can result from changes in discount periods and rates, as well as changes in the timing or likelihood of achieving certain revenue or other targets. Payments made greater than three months after the
 
 
acquisition date up to the fair value of the contingent consideration established at the acquisition date are reported as financing activities on the Consolidated Statements of Cash Flows while payments in excess of such amounts are reported as operating activities on the Consolidated Statements of Cash Flows.
The terms of the contingent consideration arrangement may include certain provisions that the Company contribute additional capital to its subsidiaries to fund payment of the contingent payment when earned. These provisions may also require the Company to issue additional equity in its subsidiaries to
non-controlling
interest members to avoid dilution of their ownership upon payment of contingent obligations.
Loss Contingencies
Loss Contingencies
The Company may become involved in legal proceedings and other matters that may result in loss contingencies. A liability is established for such matters when it is probable that a loss has been incurred and the amount of loss can be reasonably estimated. Liabilities for loss contingencies are recorded within Other current liabilities and Other liabilities on the Company’s Consolidated Balance Sheets. See Note 9
Commitments and Contingencies
for more information.
Revenue Recognition
Revenue Recognition
Revenue is recognized when control of the promised goods are transferred or services are provided to customers in an amount that reflects the consideration the Company expects to be entitled to receive in exchange for those goods or services. Each prescription represents a separate performance obligation of the Company, separate and distinct from other prescriptions under customer arrangements.
A significant portion of the Company’s revenues from sales of pharmaceutical and medical products is subject to reimbursement by federal Medicare (i.e., Part A, B, D) programs and state Medicaid programs. The total net sales reported on the Company’s Consolidated Financial Statements are recorded at the amount expected to be ultimately received from these payors, net of a reserve for customer returns based on historical return data. Billing functions for a portion of the Company’s revenue systems are largely computerized,
submitting
claims for online adjudication electronically, with simultaneous feedback of the amount expected to be received at the time of sale to determine and record net revenues.
Patient
co-payments
are billed to the patient as part of the Company’s normal billing procedures. Additionally, the Company bills certain long-term care facilities for the sale of pharmaceuticals. These billings are subject to the Company’s normal accounts receivable collections procedures. No disaggregation of revenue is necessary as the impact of economic factors is comparable due to the similarity in the types of goods and services provided for the long-term care facilities or residents served.
Concentrations of Credit Risk
Concentrations of Credit Risk
Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and accounts receivable.
At times, cash balances at financial institutions are in excess of Federal Deposit Insurance Corporation (“FDIC”) insurance coverage. FDIC insurance covers all deposit accounts, including checking and savings accounts, money market deposit accounts, and certificates of deposit, up to $250 per depositor, per insured bank, for each account ownership category. The Company believes it mitigates any risks by depositing cash with major financial institutions.
 
 
Credit risk on accounts receivable is generally diversified due to the number of entities comprising the customer base. The Company generally does not require collateral from its customers in connection with the extension of credit in the form of accounts receivable balances. Management regularly reviews the allowances for credit losses for appropriateness. For the years ended December 31, 2024 and 2025, no single customer accounted for 10% or more of the Company’s revenues.
Delivery Expenses
Delivery Expenses
The Company incurred expenses totaling $40,716, and $47,334 for the years ended December 31, 2024 and 2025
,
respectively, to deliver products sold to its customers. Delivery expenses are reported within Cost of goods sold on the Consolidated Statements of Operations.
Advertising and Marketing Expenses
Advertising and Marketing Expenses
The Company incurred advertising and marketing expenses totaling $3,502, and $3,895 for the years ended December 31, 2024 and 2025
,
respectively. Advertising and marketing expenses are expensed as incurred and are reported within Selling, general, and administrative expenses on the Consolidated Statements of Operations.
Share-based Compensation
Share-based Compensation
The Company records compensation costs related to the vesting of equity-based and liability-based awards on its Consolidated Statements of Operations. See Note 11
Share-based Compensation
for more information.
Stockholders' Equity
Stockholders’ Equity
Common Stock
We have two classes of common stock: Class A common stock, which has one vote per share, and Class B common stock, which has one vote per share. The Class A common stock and Class B common stock vote together as a single class on all matters submitted to a vote of stockholders (including the election of directors), except as otherwise required by applicable law and except in connection with amendments to our certificate of incorporation that increase or decrease the par value of the shares of such class, or alter or change the powers, preferences or special rights of the shares of either class so as to affect the holders of such shares adversely. There are no shares of preferred stock outstanding.
Voting
Holders of shares of our Class A common stock and Class B common stock are entitled to one vote for each share held of record on all matters on which stockholders are entitled to vote generally, including the election or removal of directors elected by our stockholders. The holders of our Class A common stock and Class B common stock do not have cumulative voting rights in the election of directors.
Dividends
Holders of shares of our Class A common stock and Class B common stock are entitled to receive dividends when, as and if declared by our board of directors out of funds legally available therefor, subject to any statutory or contractual restrictions on the payment of dividends and to any restrictions on the payment of dividends imposed by the terms of any outstanding preferred stock.
 
 
Liquidation
Upon our liquidation, dissolution or winding up and after payment in full of all amounts required to be paid to creditors and to the holders of preferred stock having liquidation preferences, if any, the holders of shares of our Class A common stock and Class B common stock will be entitled to receive ratably our remaining assets available for distribution, unless different treatment of the shares of each such class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A common stock and Class B common stock, each voting separately as a class.
Fully Paid and
Non-Assessable
All shares of our Class A common stock and Class B common stock outstanding are fully paid and
non-assessable.
The Class A common stock and Class B common stock will not be subject to further calls or assessments by us.
Rights and Preferences
Holders of shares of our Class A common stock do not have preemptive, conversion, subscription or redemption rights. Holders of shares of our Class B common stock do not have preemptive, subscription or redemption rights. Shares of our Class B common stock are convertible into shares of our Class A common stock as described below under “—Transfer Restrictions and Conversion of Class B Common Stock.” There are no redemption or sinking fund provisions applicable to the Class A common stock or Class B common stock. The rights powers, preferences and privileges of our Class A common stock and Class B common stock are subject to those of the holders of any shares of our preferred stock or any other series or class of stock we may authorize and issue in the future.
Transfer Restrictions and Conversion of Class B Common Stock
Shares of Class B common stock may not be transferred by the holder thereof, unless such transfer is a “Permitted Transfer.” We refer to a transferee of shares of Class B common stock received in a Permitted Transfer as a “Permitted Transferee.” In accordance with our certificate of incorporation, a “Permitted Transfer” generally will include any transfer of Class B common stock (i) approved in advance by our board of directors; (ii) to a family member of the holder; (iii) to certain entities owned by the holder or certain trusts (each, a “Permitted Entity”); (iv) upon a holder’s death by will, intestate succession or operation of law; or (v) by a Permitted Entity to a family member of the holder or any other Permitted Entity of the holder.
As provided in our certificate of incorporation, with respect to each holder of Class B common stock (and any subsequent Permitted Transferee) (a “Qualified Stockholder”), such holder’s shares of Class B common stock will automatically convert into shares of Class A common stock on a
one-for-one
basis pursuant to the
two-year
conversion schedule set forth in our certificate of incorporation. We refer to the date of issuance of the relevant shares of Class B common stock as the “Class B Issuance Date.” With respect to each holder being issued shares of Class B common stock on the Class B Issuance Date, 25% of such holder’s shares of Class B common stock will convert into shares of Class A common stock on each of the following dates: (i) on the 182
nd
day following the Class B Issuance Date (the “First Conversion Date”); (ii) on the
one-year
anniversary of the Class B Issuance Date; (iii) on the
one-year
anniversary of the First Conversion Date; and (iv) on the
two-year
anniversary of the Class B Issuance Date.
If the conversion of any shares of Class B common stock would result in the conversion of any fractional share, the number of shares so converted will be rounded down to the nearest whole number. Notwithstanding the
 
 
foregoing conversion terms, our board of directors may accelerate the conversion of all or any portion of Class B common stock to earlier times, including to permit participation of holders of Class B common stock in underwritten secondary public offerings or for any other reason.
Members' Equity (all numbers presented as whole numbers)
Members’ Equity (all numbers presented as whole numbers)
Prior to the Corporate Reorganization, Guardian Pharmacy, LLC had two classes of members: preferred and common. Generally, 1.0 preferred unit was issued for each $1,000 of capital contributed prior to March 1, 2007, and 0.8338 preferred units were issued for each $1,000 of capital contributed from March 1, 2007 to February 28, 2011. Subsequent to February 28, 2011, 0.5087 preferred units were issued for each $1,000 contributed. In addition, preferred unit holders were entitled to a preferred return of 6% annually on their unrecovered capital balance. As of December 31, 2024, there was no unrecovered capital or unpaid preferred return outstanding.
Prior to the Corporate Reorganization, net income and distributions were allocated to the preferred and common unit holders in accordance with the Guardian Pharmacy, LLC Operating Agreement. In the case of certain events, the preferred units could have been converted into common units on a
one-to-one
basis. Additionally, common units in the Company could have been issued in exchange for minority interests owned in a subsidiary.
Income Taxes
Income Taxes
The Company is a taxable entity. As discussed in Note 1, prior to the Corporate Reorganization, Guardian Pharmacy, LLC was comprised of entities treated as partnerships for income tax purposes, and the federal income taxes on taxable income or losses realized by Guardian Pharmacy, LLC were the obligation of the individual members or partners. As a result of the Corporate Reorganization, the Company is subject to federal and state corporate income taxes. The accompanying financial statements include a provision for income taxes based on the period when the Company’s operations are taxable.
The Company accounts for income taxes pursuant to the asset and liability method of ASC 740, Income Taxes, which requires it to recognize current tax liabilities or receivables for the amount of taxes it estimates are payable or refundable for the current year and deferred tax assets or liabilities for the expected future tax consequences of events that have been included in the financial statements. Deferred tax assets or liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities as measured by the enacted tax rates as well as net operating losses and credit carryforwards, which will be in effect when these differences reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period enacted. A valuation allowance is provided when, based upon the available evidence, it is more likely than not that a portion or all of a deferred tax asset will not be realized.
In determining the Company’s tax expense for financial reporting purposes, the Company establishes a reserve when there are transactions, calculations and tax filing positions for which the tax determination is uncertain and it is more likely than not that such positions would not be sustained upon examination. The Company’s policy is to recognize potential interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2024 and 2025, no liability for uncertain tax positions was required. See Note 14
Income Taxes
for additional disclosures regarding income taxes.
The Company prepares and files tax returns based on interpretations of tax laws and regulations. The Company’s tax returns are subject to examination by various taxing authorities in the normal course of business. Such examinations may result in future tax, interest and penalty assessments by these taxing authorities. Prior to the Corporate Reorganization, Guardian Pharmacy, LLC was subject to minimal state income taxes, including the Texas margin tax.
New Accounting Pronouncements
New Accounting Pronouncements
The following table provides a description of recent accounting pronouncements that are applicable to the Company’s Consolidated Financial Statements:
 
New Accounting Standards Adopted
ASU Number and
Name
   
Description
   
Date of Adoption
   
Effect on the unaudited interim Consolidated
Financial Statements upon adoption
2023-07,
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures		    ASU
2023-07
requires companies to disclose significant segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and are included within each reported measure of segment operating results. The standard also requires companies to disclose the total amount of any other items included in segment operating results which were not deemed to be significant expenses for separate disclosure, along with a qualitative description of the composition of these other items. In addition, the standard also requires disclosure of the CODM’s title and position, as well as detail on how the CODM uses the reported measure of segment operating results to evaluate segment performance and allocate resources. The standard also aligns interim segment reporting disclosure requirements with annual segment reporting disclosure requirements. The standard requires retrospective application		    January 1, 2024 for annual disclosures. January 1, 2025 for interim disclosures.    The Company adopted the standard on January 1, 2024. See Note 12
Segments
for new disclosures.
 
New Accounting Standards Adopted
ASU Number and
Name
   
Description
   
Date of Adoption
   
Effect on the unaudited interim Consolidated
Financial Statements upon adoption
   to all prior periods presented.      
2023-09,
Income Taxes (Topic 740): Improvements to Income Tax Disclosures		    ASU
2023-09
enhances the transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The standard requires the annual financial statements to include consistent categories and greater disaggregation of information in the rate reconciliation, and income taxes paid disaggregated by jurisdiction.		    January 1, 2025 for annual disclosures.    The Company adopted the standard on January 1, 2025. See Note 14
Income Taxes
for new disclosures.
2024-01,
Scope Application of Profits Interest and Similar Awards		    ASU
2024-01
clarifies the scope application of profits interest and similar awards by adding illustrative guidance in ASC 718 -
Compensation - Stock Compensation.
   January 1, 2025 for annual and interim disclosures    The Company adopted the standard as of January 1, 2025, with no material impact on the Consolidated Financial Statements.
2024-03,
Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic
220-40)
    ASU
2024-03
requires Public Business Entities to disclose disaggregated information about specific natural expense categories underlying certain income statement expense line items that are considered “relevant.”		    January 1, 2027 for annual disclosures; January 1, 2028 for interim disclosures    The Company will adopt the new disclosures for the annual periods beginning on January 1, 2027. The Company is currently evaluating the impact of the incremental disaggregated expense information that will be required to be disclosed.
2025-03,
Business Combinations (Topic 805) and Consolidation		    ASU
2025-03
revises the guidance in ASC 805 on identifying the accounting acquirer in a business combination in which the		    January 1, 2027 for annual disclosures.    The Company will adopt the new disclosures for the annual periods beginning on January 1, 2027. The Company is currently evaluating the impact of the new standard.
 
New Accounting Standards Adopted
ASU Number and
Name
   
Description
   
Date of Adoption
   
Effect on the unaudited interim Consolidated
Financial Statements upon adoption
(Topic 810):Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity    legal acquiree is a variable interest entity (VIE). The ASU is intended to improve comparability between business combinations that involve VIEs and those that do not.      
2025-05,
Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets		    ASU
2025-05
amends ASC
326-202
to provide a practical expedient (for all entities) and an accounting policy election (for all entities, other than public business entities, that elect the practical expedient) related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under ASC 606.		    January 1, 2026 for annual and interim disclosures.    The Company will adopt the new disclosures for the annual periods beginning on January 1, 2026, and expects for it to have no material impact on the financial statements.
2025-04,
Compensation — Stock
Compensation (Topic 718) and
Revenue from Contracts with
Customers (Topic 606): Clarifications to Share-Based Consideration
Payable to a Customer
    ASU
2025-04
clarifies the guidance in both ASC 606 and ASC 718 on the accounting for share-based payment awards that are granted by an entity as consideration payable to its customer. The ASU is intended to reduce diversity in practice and improve existing guidance, primarily by revising the definition of a “performance condition” and eliminating a forfeiture policy election for service conditions associated with share-based consideration payable to a customer.		    January 1, 2027 for annual disclosures.    The Company will adopt the new disclosures for the annual periods beginning on January 1, 2027. The Company is currently evaluating the impact of the new standard.
 
 
New Accounting Standards Adopted
ASU Number and
Name
   
Description
   
Date of Adoption
   
Effect on the unaudited interim Consolidated
Financial Statements upon adoption
2025-06—

Intangibles—
Goodwill and
Other—Internal-

Use Software (Subtopic
350-40):
Targeted Improvements to the Accounting for
Internal-Use
Software		    ASU
2025-06
amends certain aspects of the accounting for and disclosure of software costs under ASC
350-40.
    January 1, 2028 for annual and interim disclosures.    The Company will adopt the new disclosures for the annual periods beginning on January 1, 2028. The Company is currently evaluating the impact of the new standard.
All other new accounting pronouncements that have been issued, but not yet effective are currently being evaluated and at this time are not expected to have a material impact on our financial position or results of operations.
v3.25.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Liabilities Measured at Fair Value on a Recurring Basis on the Company's Consolidated Balance Sheets
The following table summarizes the valuation of liabilities measured at fair value on a recurring basis on the Company’s Consolidated Balance Sheets:
 
    
Level 1
     
Level 2
     
Level 3
  
December 31, 2024
         
Liabilities:
         
Contingent consideration obligations
(1)
    $ —       $ —       $ 2,700  
  
 
 
     
 
 
     
 
 
  
Fair value of financial instruments
    $ —       $ —       $ 2,700  
  
 
 
     
 
 
     
 
 
  
 
    
Level 1
     
Level 2
     
Level 3
  
December 31, 2025
         
Liabilities:
         
Contingent consideration obligations
(1)
    $ —       $ —       $ 3,220  
  
 
 
     
 
 
     
 
 
  
Fair value of financial instruments
    $ —       $ —       $ 3,220  
  
 
 
     
 
 
     
 
 
  
 
(1)
The fair value measurement of the contingent consideration obligations arising from acquisitions is based upon Level 3 unobservable inputs including, in part, the estimate of future cash flows based upon the likelihood of achieving the various criteria triggering the payment of the obligations. The fair values of the liabilities associated with contingent consideration obligations were derived using the income approach with unobservable inputs, which included future earnings forecasts for which there is no market data. Fair value measurement using unobservable inputs is inherently uncertain, and a change in significant inputs could result in different fair values. During the years ended December 31, 2024 and 2025, there were no material gains or losses related to liabilities classified as Level 3 as a result of fair value adjustments. Changes in the fair value of the contingent consideration obligations are recorded within Selling, general and administrative expenses.
Summary of Reconciliation of the Activity for the Level 3 Contingent Consideration Fair Value Measurements
The following table provides a reconciliation of the activity for the Level 3 contingent consideration fair value measurements during the years ended December 31, 2024 and 2025:
 
Balance at December 31, 2023
    $ —   
Contingent consideration obligations
      2,700  
  
 
 
  
Balance at December 31, 2024
      2,700  
  
 
 
  
Contingent consideration obligations
      2,720  
Payments
      (2,200 ) 
  
 
 
  
Balance at December 31, 2025
    $ 3,220  
  
 
 
  
Summary of Outlines the Activity for the Allowance for Credit Losses
The table below outlines the activity for the allowance for credit losses for the years ended December 31, 2024 and 2025:
 
Balance at December 31, 2023
    $ 6,171  
Additions
      8,388  
Deductions
      (5,691 ) 
  
 
 
  
Balance at December 31, 2024
      8,868  
Additions
      6,303  
Deductions
      (6,459 ) 
  
 
 
  
Balance at December 31, 2025
    $ 8,712  
  
 
 
  
v3.25.4
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Business Combinations [Abstract]    
Summary of Preliminary Recognition of the Assets and Liabilities of the Acquisitions
The recognition of the assets and liabilities of the 2025 Acquisitions as of December 31, 2025 is as follows:
 
(in thousands)
   
Fair Value
  
Total purchase consideration
    $ 16,891  
Net assets acquired:
   
Inventory
      1,891  
Other assets
      4,362  
Intangible Assets
      6,876  
Other liabilities
      (3,076 ) 
Non-controlling
interest equity
      (3,609 ) 
  
 
 
  
Net assets acquired
      6,444  
  
 
 
  
Goodwill
    $ 10,447  
  
 
 
  
The recognition of the assets and liabilities of the 2024 Acquisitions was as follows during 2024:
 
(in thousands)
   
Fair Value
  
Total purchase consideration
    $ 17,410  
Net assets acquired:
   
Inventory
      2,671  
Other assets
      2,446  
Intangible Assets
      6,236  
Other liabilities
      (1,822 ) 
Non-controlling
interest equity
      (5,371 ) 
  
 
 
  
Net assets acquired
      4,160  
  
 
 
  
Goodwill
    $ 13,250  
  
 
 
  
v3.25.4
Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Summary of Property and Equipment Estimated Useful Lives
Property and equipment are depreciated on a straight-line basis over the period of their estimated useful lives. As of December 31, 2025, the estimated useful lives of the Company’s assets are as follows:
 
Pharmacy and lab equipment
    5 - 7 years
Automobiles
    3 years
Computer equipment and software
    3 years
Leasehold improvements
    Lesser of useful life or lease term
Furniture, fixtures, and office equipment
    5 years
Summary of Property and Equipment
Property and equipment as of December 31, consisted of the following:
 
    
2024
     
2025
  
Pharmacy and lab equipment
    $ 68,635      $ 76,489  
Automobiles
      18,855        19,511  
Computer equipment and software
      15,087        16,207  
Leasehold improvements
      17,345        22,390  
Furniture, fixtures, and office equipment
      7,941        8,770  
  
 
 
     
 
 
  
     127,863      143,367  
Less accumulated depreciation
      (77,980 )       (87,845 ) 
  
 
 
     
 
 
  
Total property and equipment, net
    $ 49,883      $ 55,522  
  
 
 
     
 
 
  
v3.25.4
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Change in Carrying Amount of Goodwill
A summary of the change in the carrying amount of goodwill for the year ended December 31, 2025 is as follows:
 
Balance at December 31, 2024
    $ 69,296  
Acquisitions
      10,447  
  
 
 
  
Balance at December 31, 2025
    $ 79,743  
  
 
 
  
Summary of Customer Lists, Trademarks and Other Intangible Assets Estimated Useful Lives Customer lists, trademarks and other intangible assets are amortized on a straight-line basis, which approximates the expected future cash flows, over the period of their estimated useful lives as follows:
 
Customer lists
    9 to 10 years
Trademarks and other intangible assets
    5 to 20 years
Summary of Carrying Amount and Accumulated Amortization of Customer Lists, Trademarks and Other Intangible Assets
The carrying amount and accumulated amortization of the customer lists, trademarks and other intangible assets as of December 31 are as follows:
 
    
2024
     
2025
  
    
Gross

Carrying

Amount
     
Accumulated

Amortization
    
Net

Carrying

Amount
     
Gross

Carrying

Amount
     
Accumulated

Amortization
    
Net

Carrying

Amount
  
Intangible assets:
                
Customer lists
    $ 47,953      $ (34,889 )    $ 13,064      $ 54,883      $ (38,156 )    $ 16,727  
Trademarks and other intangible assets
      7,731        (5,883 )      1,848        8,021        (6,273 )      1,748  
  
 
 
     
 
 
    
 
 
     
 
 
     
 
 
    
 
 
  
Total intangible assets
    $ 55,684      $ (40,772 )    $ 14,912      $ 62,904      $ (44,429 )    $ 18,475  
  
 
 
     
 
 
    
 
 
     
 
 
     
 
 
    
 
 
  
Summary of Estimated Amortization Expense For Next Five Years
The estimated amortization expense for the next five years ending December 31 and thereafter is as follows:
 
2026
    $ 2,807  
2027
      2,059  
2028
      1,665  
2029
      1,545  
2030
      1,452  
Thereafter
      8,947  
  
 
 
  
Total
    $ 18,475  
  
 
 
  
v3.25.4
Lease Obligations (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Summary of Lease Related Assets and Liabilities
The following table summarizes the lease-related assets and liabilities recorded on the Company’s Consolidated Balance Sheets as of December 31:
 
         
December 31,
  
Assets
   
Balance Sheet Location
   
2024
    
2025
  
Operating lease assets
    Operating lease
right-of-use
assets		    $ 29,079     $ 34,649  
Finance lease asset
s
    Property and equipment, net      6,870       7,221  
     
 
 
    
 
 
  
Total lease assets
       $ 35,949     $ 41,870  
     
 
 
    
 
 
  
Liabilities
        
Current
        
Operating lease liabilities
    Operating leases, current portion    $ 6,836     $ 7,150  
Finance lease liabilitie
s
    Other current liabilities      3,783       3,880  
Noncurrent
        
Operating lease liabilities
    Operating leases, net of current portion      23,297       29,992  
Finance lease liabilitie
s
    Other liabilities      3,416       3,702  
     
 
 
    
 
 
  
Total lease liabilities
       $ 37,332     $ 44,724  
     
 
 
    
 
 
  
Weighted-average remaining lease term
        
Operating leases
        
4.8
 
years		       4.8 years  
Finance leases
         2.3 years       2.2 years  
Weighted-average discount rate
        
Operating leases
         5.51 %      5.67 % 
Finance leases
         6.02 %      5.75 % 
Summary of Lease Related Costs For Finance and Operating Leases
The following tables summarize the lease-related costs for finance and operating leases for the years ended December 31:
 
    
2024
     
2025
  
Finance lease cost
      
Amortization of leased assets
    $ 4,212      $ 4,367  
Interest on lease liabilities
      498        569  
Operating lease cost
      8,405        9,348  
Short-term lease cost
      233        129  
Variable lease cost
      2,092        2,520  
  
 
 
     
 
 
  
Total lease cost
    $ 15,440      $ 16,933  
  
 
 
     
 
 
  
 
 
Other Information
 
    
Year Ended
December 31, 2024
     
Year Ended
December 31, 2025
  
Cash paid for amounts included in the measurement of lease liabilities
      
Operating cash flows for operating leases
    $ 10,634      $ 11,848  
Operating cash flows for finance leases
    $ 442      $ 557  
Financing cash flows for finance leases
    $ 4,481      $ 4,483  
Summary of Operating Lease Liabilities and Finance Lease Liabilities
The table below reconciles the undiscounted cash flows for each of the first five years and the total of the remaining years to the operating lease liabilities and finance lease liabilities recorded on the December 31, 2025 Consolidated Balance Sheet.
 
    
Operating

Leases
     
Finance

Leases
  
2026
    $ 8,963      $ 4,201  
2027
      9,220        2,690  
2028
      8,498        1,041  
2029
      7,691        138  
2030
      5,127        —   
Thereafter
      3,288        —   
  
 
 
     
 
 
  
Total lease payments
      42,787        8,070  
Less: amount of lease payments representing interest
      (5,645 )       (488 ) 
  
 
 
     
 
 
  
Present value of future lease payments
      37,142        7,582  
Less: current obligations under leases
      (7,150 )       (3,880 ) 
  
 
 
     
 
 
  
Long-term lease obligations
    $ 29,992      $ 3,702  
  
 
 
     
 
 
  
v3.25.4
Basic and Diluted Loss Per Share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Summary of Basic Net Income (Loss) Per Share of Class A and Class B Common Stock
The following table sets forth (in thousands) the computation of net income (loss) attributable to the Company used to compute basic net income (loss) per share of Class A common stock and Class B common stock for the years ended December 31, 202
4
and 2025.

(in thousands)
 
Year Ended December 31, 2024
 
  
Year Ended December 31, 2025
 
Numerator:
    
Net income (loss)
   $ (71,033 )    $ 48,958  
Less: Net income attributable to Guardian Pharmacy, LLC prior to the Corporate Reorganization
     22,760       —   
Less: Net income attributable to noncontrolling interests
     16,254       (261 ) 
 
 
 
    
 
 
  
Net income (loss) attributable to Guardian Pharmacy Services, Inc.   $ (110,047 )    $ 49,219  
 
 
 
    
 
 
  
Summary of Basic and Diluted Net Income Per Share of Class A and Class B Common Stock
The following table sets forth the computation of basic and diluted net income per share of Class A common stock and Class B common stock (in thousands, except share amounts, and per share amounts):


 
  
Year Ended December 31, 2024
 
  
Year Ended December 31, 2025
 
 
  
Class A
 
  
Class B
 
  
Class A
 
  
Class B
 
Basic net income (loss) per share attributable to common stockholders
            
Numerator:
            
Allocation of net income (loss) attributable to Guardian Pharmacy Inc.
    $ (16,261 )     $ (93,786 )     $ 18,099      $ 31,120  
Denominator:
            
Weighted average number of shares of Class A and Class B common stock outstanding
      9,162,500        52,843,311        22,941,398        39,444,855  
  
 
 
     
 
 
     
 
 
     
 
 
  
Basic net income (loss) per share attributable to common stockholders
    $ (1.77 )     $ (1.77 )     $ 0.79      $ 0.79  
  
 
 
     
 
 
     
 
 
     
 
 
  
Diluted net income (loss) per share attributable to common stockholders
            
Numerator:
            
Allocation of net income (loss) attributable to Guardian Pharmacy Inc.
    $ (16,261 )     $ (93,786 )     $ 18,099      $ 31,120  
 
 
  
Year Ended December 31, 2024
 
  
Year Ended December 31, 2025
 
 
  
Class A
 
  
Class B
 
  
Class A
 
  
Class B
 
Denominator:
  
  
  
  
Number of shares used in basic computation
      9,162,500        52,843,311        22,941,398        39,444,855  
Dilutive Restricted Stock Units and Class A and B Common Stock
      —         —         334,956        575,914  
  
 
 
     
 
 
     
 
 
     
 
 
  
Weighted average shares of Class A and Class B common stock outstanding used to calculate diluted net income (loss) per share
      9,162,500        52,843,311        23,276,354        40,020,769  
  
 
 
     
 
 
     
 
 
     
 
 
  
Diluted net income (loss) per share attributable to common stockholders
    $ (1.77 )     $ (1.77 )     $ 0.78      $ 0.78  
  
 
 
     
 
 
     
 
 
     
 
 
  
Summary of Diluted Shares Outstanding as the Effect would have been Anti-Dilutive
The following
 potentially dilutive shares for the year ended December 31, 2024 were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive. There were
no
anti-dilutive shares in the year ended December 31, 2025.
 
    
Year Ended
December, 31 2024
  
    
Class A
     
Class B
  
Anti-dilutive unvested Restricted Stock Units and Class B Common Stock
      99,892        576,113  
  
 
 
     
 
 
  
Total anti-dilutive securities
      99,892        576,113  
  
 
 
     
 
 
  
v3.25.4
Share-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Discount was Determined Using the Finnerty Model
The discount was determined using the Finnerty Model using the following assumptions:
 
    
Year ended December
  
    
31, 2024
  
Volatility
      60.0 % 
Expected life (in months)
      6.0  
Risk-free rate
      4.3 % 
Price per unit
    $ 14.00  
Summary of Class B Common Stock, Issued as Incentive Awards, Activity
Certain Class B common stock issued as incentive awards converted to unvested Class A common stock as part of the Class B common stock conversion to Class A common stock discussed in
Note 1 Organization and Background
. Class A common stock and Class B common stock issued as incentive awards, activity is as follows during the periods indicated.
 
    
Class A Common Stock
and B Common Stock
     
Weighted Average Grant
Date Fair Value
  
Unvested at September 27, 2024
      —        $ —   
Granted
      12,321,282      $ 12.67  
Vested
      (11,070,502 )     $ 12.60  
Forfeited
      (7,074 )     $ 13.30  
  
 
 
     
Unvested at December 31, 2024
      1,243,706      $ 13.30  
Vested
      (1,242,394 )     $ 13.30  
Forfeited
      (1,312 )     $ 13.30  
  
 
 
     
Unvested at December 31, 2025
      —      
  
 
 
     
Summary of Restricted Stock Unit Activity
Restricted Stock Unit activity was as follows during the periods indicated:
 
    
Restricted Stock Units
     
Weighted Average Grant
Date Fair Value
  
Unvested at September 27, 2024
      —       $ —   
Granted
      10,713      $ 14.00  
Forfeited
      —        $ —   
  
 
 
     
Unvested at December 31, 2024
      10,713      $ 14.00  
  
 
 
     
Granted
      637,181      $ 19.98  
Vested
      (10,713 )     $ 14.00  
Forfeited
      (14,173 )     $ 19.75  
  
 
 
     
Unvested at December 31, 2025
      623,008      $ 19.99  
  
 
 
     
Summary of Share-based Compensation Expense
Share-based compensation expense is recorded to selling, general, and administrative expenses in the consolidated statement of operations. For the years ended December 31, 2024 and 2025, the Company recorded $131,490 and $
13,850
of share-based compensation expense, respectively.
 
    
Year Ended
December 31,
  
    
2024
     
2025
  
Pre-IPO
awards
    $ 5,673      $ —   
Restricted Interest Unit Conversion Awards Issued in Connection with IPO
      122,244        —   
Unvested Class A and B common stock
      3,498        10,036  
Restricted stock units
      75        3,814  
  
 
 
     
 
 
  
Total share-based compensation expense (income)
    $ 131,490      $ 13,850  
  
 
 
     
 
 
  
Schedule of Unamortized Share Based Compensation Incentive Awards
As of December 31, 2025, unamortized share-based compensation costs related to each share-based incentive award described above is as follows (in thousands, except for the remaining service period):
 
    
Amount
     
Weighted Average

Remaining Service Period
(years)
  
Restricted stock units
      8,714        2.1  
  
 
 
     
Total unamortized share-based compensation cost
    $ 8,714     
  
 
 
     
v3.25.4
Segments (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Summary of Operating Segment Revenue, Net Income (Loss)
The following reconciliation presents operating segment revenue, net income (loss), and significant segment expenses:
 
    
Operating Segment
  
    
2024
     
2025
  
Revenue
    $ 1,228,409      $ 1,448,685  
Less:
      
Employee expenses (excluding share-based compensation expense)
      268,621        309,600  
Share-based compensation expense
      131,490        13,850  
Other segment items
(1)
      871,725        1,028,812  
Depreciation and amortization
      19,772        22,335  
Interest expense
      3,278        665  
Income taxes
      4,556        24,465  
  
 
 
     
 
 
  
Segment net income (loss)
    $ (71,033 )     $ 48,958  
  
 
 
     
 
 
  
Reconciliation of net income (loss) to consolidated statements of operations
      
Adjustments and reconciling items
      —         —   
  
 
 
     
 
 
  
Consolidated net income (loss)
    $ (71,033 )     $ 48,958  
  
 
 
     
 
 
  
 
(1)
Other segment items included in operating segment net income include product expenses, legal expenses, rent and auto lease expenses, utilities expenses, maintenance expenses, and other overhead expenses.
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Summary of The Expense (Benefit) For Income Taxes
The expense (benefit) for income taxes consists:
 
    
Year Ended
December 31,
  
    
2024
     
2025
  
Current:
      
Federal
    $ 2,970      $ 16,229  
State
      885        5,162  
  
 
 
     
 
 
  
Total current tax
      3,855        21,391  
  
 
 
     
 
 
  
Deferred:
      
Federal
      533        1,941  
State
      168        1,133  
  
 
 
     
 
 
  
Total deferred tax
      701        3,074  
  
 
 
     
 
 
  
Provision for income taxes
   
$
4,556
 
   
$
24,465
 
  
 
 
     
 
 
  
Summary of Reconciliation Between The Company's Income Tax Expense and Taxes
Reconciliation between the Company’s income tax expense and taxes computed at the federal statutory tax rate of 21.0% for calendar years ended December 31, 2025 and 2024 were as follows (in thousands):
 
    
Year Ended December 31,
  
    
2024
    
2025
  
Tax at federal statutory rate
    $ (13,960 )       21.0 %    $ 15,419        21.0 % 
State taxes (net of federal benefit)*
      828        (1.3 )%      4,973        6.8 % 
Nontaxable or nondeductible items:
           
Partnership income (federal) not subject to tax to the Company
      (8,307 )       12.5 %      55        0.1 % 
Nondeductible Compensation
      26,406        (39.7 )%      2,108        2.8 % 
Other
           282        0.4 % 
Return-to-Provision
Adjustments
      (446 )       0.7 %      1,393        1.9 % 
Other Adjustments
      35        (0.1 )%      235        0.3 % 
  
 
 
     
 
 
    
 
 
     
 
 
  
Provision for income taxes
   
$
4,556
 
   
 
(6.9
)% 
  
$
24,465
 
   
 
33.3
% 
  
 
 
     
 
 
    
 
 
     
 
 
  
Summary of Deferred Tax Assets and Deferred Tax Liabilities
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2024 and 2025 were as follows (in thousands):
 
    
December 31,
  
    
2024
     
2025
  
Deferred tax assets
      
Amortization
    $ 7,939      $ 5,482  
Lease and rents
      7,382        9,103  
Insurance and bad debt reserves
      3,366        3,262  
Accrued expenses
      733        2,161  
Other
      341        309  
  
 
 
     
 
 
  
Total deferred tax assets
      19,761        20,317  
  
 
 
     
 
 
  
Valuation allowance for deferred tax assets
      —         —   
  
 
 
     
 
 
  
Deferred tax assets, net of valuation allowance
    $ 19,761      $ 20,317  
  
 
 
     
 
 
  
Deferred tax liabilities
      
Lease and rents
      (7,139 )       (8,274 ) 
Depreciation
      (6,609 )       (8,529 ) 
Other
      (741 )       (1,315 ) 
  
 
 
     
 
 
  
Net deferred tax assets
   
$
5,272
 
   
$
2,199
 
  
 
 
     
 
 
  
Schedule of Income Tax Paid by Individual Jurisdiction
The cash tax payments for the period (in thousands):
 
    
Year Ended December 31,
  
    
2024
     
2025
  
US Federal
    $ —       $ 16,880  
US State and Local
      —         4,661  
  
 
 
     
 
 
  
Total income tax payments
   
$
— 
 
   
$
21,541
 
  
 
 
     
 
 
  
 
*
No single state jurisdiction met the 5% disaggregation threshold during the year.
v3.25.4
Organization and Background - Additional Information (Detail) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Sep. 27, 2025
Mar. 28, 2025
Sep. 27, 2024
Jun. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]            
Conversion of stock, shares issued         54,094,232  
Payments for merger related costs         $ 55,176  
Adjustment of deferred tax asset liability through additional paid in capital         5,973  
Shares issued, price per share     $ 14      
Stock issued during period, value, new issues     $ 119,784   441 $ 106,762
Payment of underwriting discounts     9,016      
Payments of stock issuance costs         $ 1,594 $ 4,157
Addition of underwriting discounts incurred of offering costs     $ 13,022      
Stockholders' equity note, stock split         one-for-one  
Sale of Stock, Number of Shares Issued in Transaction       7,184,553    
Guardian Pharmacy, LLC [Member]            
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]            
Subsidiary, ownership percentage, parent         100.00%  
Underwritten Shares [Member]            
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]            
Shares issued, price per share       $ 21    
Payments of stock issuance costs       $ 1,210    
Stock Issued During Period, Shares, Other       1,440,447    
Common Class B [Member]            
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]            
Conversion of stock per shares converted         $ 0.001  
Right to receive per share cash         1.02  
Common Class A [Member]            
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]            
Conversion of stock, shares issued 13,523,285 13,519,946        
Common stock, par or stated value per share         $ 0.001  
Stock issued during period, shares, new issues     9,200,000      
Percentage Of Conversion Of Share         25.00%  
Common Class A [Member] | IPO [Member]            
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]            
Stock issued during period, shares, new issues     8,000,000      
Common Class A [Member] | Additional Paid-in Capital [Member]            
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]            
Stock issued during period, shares, new issues     1,200,000      
v3.25.4
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Feb. 11, 2011
Mar. 01, 2007
Feb. 28, 2007
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]            
Unrecognized tax benefits $ 0 $ 0        
Accounts Receivable, Allowance for Credit Loss 8,712 8,868 $ 6,171      
Marketing and Advertising Expense 3,895 3,502        
Direct Operating Costs 47,334 $ 40,716        
Goodwill, Impairment Loss $ 0          
Certificates of Deposit [Member]            
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]            
Certificates Of Deposit Per Person For Accounts Ownership 250          
Preferred Stock [Member]            
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]            
Preferred Stock, Shares Issued       0.5087 0.8338 1
Preferred Stock, Value, Issued       $ 1,000 $ 1,000 $ 1,000
Percentage Of Unrecovered Capital Balance       6.00%    
Common Class A [Member]            
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]            
Percentage Of Conversion Of Share 25.00%          
v3.25.4
Summary of Significant Accounting Policies - Summary of Liabilities Measured at Fair Value on a Recurring Basis on the Company's Consolidated Balance Sheets (Detail) - Fair Value, Recurring [Member] - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Inputs, Level 1 [Member]    
Liabilities:    
Contingent consideration obligations $ 0 $ 0
Fair value of financial instruments 0 0
Fair Value, Inputs, Level 2 [Member]    
Liabilities:    
Contingent consideration obligations 0 0
Fair value of financial instruments 0 0
Fair Value, Inputs, Level 3 [Member]    
Liabilities:    
Contingent consideration obligations 3,220 2,700
Fair value of financial instruments $ 3,220 $ 2,700
v3.25.4
Summary of Significant Accounting Policies - Summary of Reconciliation of the Activity for the Level 3 Contingent Consideration Fair Value Measurements (Detail) - Level 3 [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning balance $ 2,700 $ 0
Contingent consideration obligations 2,720 2,700
Payments   (2,200)
Ending balance $ 3,220 $ 2,700
v3.25.4
Summary of Significant Accounting Policies - Summary of Outlines the Activity for the Allowance for Credit Losses (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accounting Policies [Abstract]    
Beginning balance $ 8,868 $ 6,171
Additions 6,303 8,388
Deductions (6,459) (5,691)
Ending balance $ 8,712 $ 8,868
v3.25.4
Acquisitions - Additional Information (Detail) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Business Acquisition [Line Items]      
Goodwill   $ 79,743 $ 69,296
Pharmacy Operations [Member]      
Business Acquisition [Line Items]      
Business combination, consideration transferred   16,891 17,410
Business combination, acquisition of less than 100 percent, noncontrolling interest, fair value   3,609 5,371
Goodwill   10,447 13,250
Business acquisition, goodwill, expected tax deductible amount   8,136 9,957
Revenue associated with the acquisitions   40,146  
Pharmacy Operations 2025 Acquisitions [Member]      
Business Acquisition [Line Items]      
Business combination, consideration transferred   16,891  
Business combination, contingent consideration, liability   2,600  
Business combination, acquisition of less than 100 percent, noncontrolling interest, fair value   $ 3,609  
Issuance of Class B common stock associated with acquisition (Shares)   24,075  
Business combination, achieved in stages, preacquisition equity interest in acquiree, fair value $ 441    
Pharmacy Operations 2024 Acquisitions [Member]      
Business Acquisition [Line Items]      
Business combination, consideration transferred     17,410
Business combination, contingent consideration, liability   $ 500 2,700
Business combination, acquisition of less than 100 percent, noncontrolling interest, fair value     5,371
Payment for contingent consideration liability financing activities   2,200  
Customer Lists [Member] | Pharmacy Operations [Member]      
Business Acquisition [Line Items]      
Finite-lived intangible assets, fair value disclosure   $ 6,586 $ 5,686
Finite-lived intangible asset, useful life   10 years 10 years
Trademarks [Member] | Pharmacy Operations [Member]      
Business Acquisition [Line Items]      
Finite-lived intangible assets, fair value disclosure   $ 290 $ 550
Finite-lived intangible asset, useful life   5 years 5 years
Cash [Member] | Pharmacy Operations 2025 Acquisitions [Member]      
Business Acquisition [Line Items]      
Business combination, consideration transferred   $ 13,725  
Cash [Member] | Pharmacy Operations 2024 Acquisitions [Member]      
Business Acquisition [Line Items]      
Business combination, consideration transferred     $ 14,710
Contingent Earnout Payment [Member] | Pharmacy Operations 2025 Acquisitions [Member]      
Business Acquisition [Line Items]      
Business combination, consideration transferred   2,600  
Contingent Earnout Payment [Member] | Pharmacy Operations 2024 Acquisitions [Member]      
Business Acquisition [Line Items]      
Business combination, consideration transferred     $ 2,700
Deferred Inventory Payments [Member] | Pharmacy Operations 2025 Acquisitions [Member]      
Business Acquisition [Line Items]      
Business combination, consideration transferred   $ 125  
v3.25.4
Acquisitions - Summary of Preliminary Recognition of the Assets and Liabilities of the Acquisitions (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Net assets acquired:    
Goodwill $ 79,743 $ 69,296
Pharmacy Operations [Member]    
Business Acquisition [Line Items]    
Total purchase consideration 16,891 17,410
Net assets acquired:    
Inventory 1,891 2,671
Other assets 4,362 2,446
Intangible Assets 6,876 6,236
Other liabilities (3,076) (1,822)
Non-controlling interest equity (3,609) (5,371)
Net assets acquired 6,444 4,160
Goodwill $ 10,447 $ 13,250
v3.25.4
Property and Equipment - Summary of Property and Equipment Estimated Useful Lives (Detail)
 12 Months Ended
Dec. 31, 2025
Pharmacy and lab equipment [Member] | Maximum [Member]  
Property, Plant and Equipment [Line Items]  
Property, Plant and Equipment, Useful Life 7 years
Pharmacy and lab equipment [Member] | Minimum [Member]  
Property, Plant and Equipment [Line Items]  
Property, Plant and Equipment, Useful Life 5 years
Automobiles [Member]  
Property, Plant and Equipment [Line Items]  
Property, Plant and Equipment, Useful Life 3 years
Computer equipment and software [Member]  
Property, Plant and Equipment [Line Items]  
Property, Plant and Equipment, Useful Life 3 years
Leasehold improvements [Member]  
Property, Plant and Equipment [Line Items]  
Property, Plant and Equipment, Useful Life Lesser of useful life or lease term
Furniture, fixtures, and office equipment [Member]  
Property, Plant and Equipment [Line Items]  
Property, Plant and Equipment, Useful Life 5 years
v3.25.4
Property and Equipment - Summary of Property and Equipment (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 143,367 $ 127,863
Less accumulated depreciation (87,845) (77,980)
Total property and equipment, net 55,522 49,883
Pharmacy and lab equipment [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross 76,489 68,635
Automobiles [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross 19,511 18,855
Computer equipment and software [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross 16,207 15,087
Leasehold improvements [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross 22,390 17,345
Furniture, fixtures, and office equipment [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 8,770 $ 7,941
v3.25.4
Property and Equipment - Summary of Additional Information (Detail) - Property, Plant and Equipment [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Line Items]    
Depreciation Expense on Reclassified Assets $ 18,677 $ 16,470
Cost, Depreciation 8,001 7,060
Depreciation, Nonproduction $ 10,676 $ 9,410
v3.25.4
Goodwill and Intangible Assets - Summary of Change in Carrying Amount of Goodwill (Detail)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
Balance, beginning $ 69,296
Acquisitions 10,447
Balance, ending $ 79,743
v3.25.4
Goodwill and Intangible Assets - Summary of Customer Lists, Trademarks and Other Intangible Assets Estimated Useful Lives (Detail)
Dec. 31, 2025
Customer Lists [Member] | Minimum [Member]  
Finite-Lived Intangible Assets [Line Items]  
Finite-lived intangible asset, useful life 9 years
Customer Lists [Member] | Maximum [Member]  
Finite-Lived Intangible Assets [Line Items]  
Finite-lived intangible asset, useful life 10 years
Trademarks [Member] | Minimum [Member]  
Finite-Lived Intangible Assets [Line Items]  
Finite-lived intangible asset, useful life 5 years
Trademarks [Member] | Maximum [Member]  
Finite-Lived Intangible Assets [Line Items]  
Finite-lived intangible asset, useful life 20 years
v3.25.4
Goodwill and Intangible Assets - Summary of Carrying Amount and Accumulated Amortization of Customer Lists, Trademarks and Other Intangible Assets (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Intangible Assets Amortization Expense [Line Items]    
Gross Carrying Amount $ 62,904 $ 55,684
Accumulated Amortization (44,429) (40,772)
Net Carrying Amount 18,475 14,912
Customer Lists [Member]    
Intangible Assets Amortization Expense [Line Items]    
Gross Carrying Amount 54,883 47,953
Accumulated Amortization (38,156) (34,889)
Net Carrying Amount 16,727 13,064
Trademarks [Member]    
Intangible Assets Amortization Expense [Line Items]    
Gross Carrying Amount 8,021 7,731
Accumulated Amortization (6,273) (5,883)
Net Carrying Amount $ 1,748 $ 1,848
v3.25.4
Goodwill and Intangible Assets - Summary of Estimated Amortization Expense For Next Five Years (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
2026 $ 2,807  
2027 2,059  
2028 1,665  
2029 1,545  
2030 1,452  
Thereafter 8,947  
Total $ 18,475 $ 14,912
v3.25.4
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Intangible Assets Amortization Expense [Line Items]    
Finite-Lived Intangible Assets, Accumulated Amortization $ (44,429) $ (40,772)
Finite-Lived Intangible Assets [Member]    
Intangible Assets Amortization Expense [Line Items]    
Finite-Lived Intangible Assets, Accumulated Amortization $ 3,658 $ 3,302
v3.25.4
Lease Obligations - Summary of Lease Related Assets and Liabilities (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets [Abstract]    
Operating lease assets $ 34,649 $ 29,079
Finance lease assets 7,221 6,870
Total lease assets $ 41,870 $ 35,949
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Current    
Operating lease liabilities $ 7,150 $ 6,836
Finance lease liabilities $ 3,880 $ 3,783
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Current Other Liabilities, Current
Noncurrent    
Operating lease liabilities $ 29,992 $ 23,297
Finance lease liabilities $ 3,702 $ 3,416
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Noncurrent Other Liabilities, Noncurrent
Total lease liabilities $ 44,724 $ 37,332
Weighted-average remaining lease term [Abstract]    
Operating leases 4 years 9 months 18 days 4 years 9 months 18 days
Finance leases 2 years 2 months 12 days 2 years 3 months 18 days
Weighted-average discount rate    
Operating leases 5.67% 5.51%
Finance leases 5.75% 6.02%
v3.25.4
Lease Obligations - Summary of Lease Related Costs For Finance and Operating Leases (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Finance lease cost    
Amortization of leased assets $ 4,367 $ 4,212
Interest on lease liabilities 569 498
Operating lease cost 9,348 8,405
Short-term lease cost 129 233
Variable lease cost 2,520 2,092
Total lease cost 16,933 15,440
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows for operating leases 11,848 10,634
Operating cash flows for finance leases 557 442
Financing cash flows for finance leases $ 4,483 $ 4,481
v3.25.4
Lease Obligations - Summary of Operating Lease Liabilities and Finance Lease Liabilities (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Operating Leases    
2026 $ 8,963  
2027 9,220  
2028 8,498  
2029 7,691  
2030 5,127  
Thereafter 3,288  
Total lease payments 42,787  
Less: amount of lease payments representing interest (5,645)  
Present value of future lease payments 37,142  
Less: current obligations under leases (7,150) $ (6,836)
Long-term lease obligations 29,992 23,297
Finance Leases    
2026 4,201  
2027 2,690  
2028 1,041  
2029 138  
2030 0  
Thereafter 0  
Total lease payments 8,070  
Less: amount of lease payments representing interest (488)  
Present value of future lease payments 7,582  
Less: current obligations under leases (3,880) (3,783)
Long-term lease obligations $ 3,702 $ 3,416
v3.25.4
Lease Obligations - Addiotional Information (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
ROU assets obtained in exchange for operating lease liabilities $ 13,240 $ 7,489
v3.25.4
Debt Arrangements - Additional Information (Detail) - USD ($)
$ in Thousands
 12 Months Ended
May 13, 2024
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]      
Long-Term Debt   $ 0 $ 0
Notes Payable, Other Payables [Member]      
Debt Instrument [Line Items]      
Long-term debt, gross   $ 15,000  
Debt instrument, maturity date   Apr. 23, 2027  
Debt instrument, periodic payment   $ 1,375  
Notes Payable, Other Payables [Member] | Existing Term Loan [Member] | Secured Overnight Financing Rate (SOFR) [Member]      
Debt Instrument [Line Items]      
Debt instrument, interest rate during period   1.80%  
Notes Payable, Other Payables [Member] | New Term Loan [Member] | Secured Overnight Financing Rate (SOFR) [Member]      
Debt Instrument [Line Items]      
Debt instrument, interest rate during period   2.80%  
Third Amended and Restated Loan and Security Agreement [Member]      
Debt Instrument [Line Items]      
Line of Credit Facility, Maximum Amount Outstanding During Period   $ 0 $ 0
Line of Credit [Member]      
Debt Instrument [Line Items]      
Line of credit facility, fair value of amount outstanding   $ 40,000  
Line of Credit [Member] | Sixth Amendment [Member]      
Debt Instrument [Line Items]      
Line of credit facility, expiration date Apr. 23, 2025    
Line of Credit [Member] | Sixth Amendment [Member] | Secured Overnight Financing Rate (SOFR) [Member]      
Debt Instrument [Line Items]      
Line of credit facility, interest rate during period 1.80%    
Line of Credit [Member] | Third Amended and Restated Loan and Security Agreement [Member]      
Debt Instrument [Line Items]      
Line of credit facility, expiration date Apr. 23, 2027    
Line of Credit [Member] | Third Amended and Restated Loan and Security Agreement [Member] | Secured Overnight Financing Rate (SOFR) [Member]      
Debt Instrument [Line Items]      
Line of credit facility, interest rate during period 2.80%    
v3.25.4
Retirement Plan - Additional Information (Detail) - Postemployment Retirement Benefits [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan [Line Items]    
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent 3.50% 3.50%
Defined Contribution Plan, Employer Discretionary Contribution Amount $ 6,061 $ 5,075
v3.25.4
Commitments and Contingencies - Additional Information (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Legal expenses $ 6,333 $ 5,084
v3.25.4
Basic and Diluted Loss Per Share - Additional Information (Detail)
Dec. 31, 2024
shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]  
Shares, issued 100
v3.25.4
Basic and Diluted Loss Per Share - Summary of Basic Net Income (Loss) Per Share of Class A and Class B Common Stock (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Numerator:    
Net income (loss) $ 48,958 $ (71,033)
Less: Net income attributable to Guardian Pharmacy, LLC prior to the Corporate Reorganization 0 22,760
Less: Net income attributable to noncontrolling interests (261) 16,254
Net income (loss) attributable to Guardian Pharmacy Services, Inc. $ 49,219 $ (110,047)
v3.25.4
Basic and Diluted Loss Per Share - Summary of Basic and Diluted Net Income Per Share of Class A and Class B Common Stock (Detail) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Numerator:    
Allocation of net income (loss) attributable to Guardian Pharmacy Inc. $ 49,219 $ (110,047)
Numerator:    
Allocation of net income (loss) attributable to Guardian Pharmacy Inc. 49,219 (110,047)
Common Class A [Member]    
Numerator:    
Allocation of net income (loss) attributable to Guardian Pharmacy Inc. $ 18,099 $ (16,261)
Denominator:    
Weighted average number of shares of Class A and Class B common stock outstanding 22,941,398 9,162,500
Basic net income (loss) per share attributable to common stockholders $ 0.79 $ (1.77)
Numerator:    
Allocation of net income (loss) attributable to Guardian Pharmacy Inc. $ 18,099 $ (16,261)
Denominator:    
Number of shares used in basic computation 22,941,398 9,162,500
Weighted average shares of Class A and Class B common stock outstanding used to calculate diluted net income (loss) per share 23,276,354 9,162,500
Diluted net income (loss) per share attributable to common stockholders $ 0.78 $ (1.77)
Common Class B [Member]    
Numerator:    
Allocation of net income (loss) attributable to Guardian Pharmacy Inc. $ 31,120 $ (93,786)
Denominator:    
Weighted average number of shares of Class A and Class B common stock outstanding 39,444,855 52,843,311
Basic net income (loss) per share attributable to common stockholders $ 0.79 $ (1.77)
Numerator:    
Allocation of net income (loss) attributable to Guardian Pharmacy Inc. $ 31,120 $ (93,786)
Denominator:    
Number of shares used in basic computation 39,444,855 52,843,311
Weighted average shares of Class A and Class B common stock outstanding used to calculate diluted net income (loss) per share 40,020,769 52,843,311
Diluted net income (loss) per share attributable to common stockholders $ 0.78 $ (1.77)
Restricted Stock [Member] | Common Class A [Member]    
Denominator:    
Dilutive Restricted Stock Units and Class A and B Common Stock 334,956
Restricted Stock [Member] | Common Class B [Member]    
Denominator:    
Dilutive Restricted Stock Units and Class A and B Common Stock 575,914
v3.25.4
Basic and Diluted Loss Per Share - Summary of Diluted Shares Outstanding as the Effect would have been Anti-Dilutive (Detail) - shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Anti-dilutive securities 0  
Common Class A [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Anti-dilutive securities   99,892
Common Class B [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Anti-dilutive securities   576,113
Restricted Stock [Member] | Common Class A [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Anti-dilutive securities   99,892
Restricted Stock [Member] | Common Class B [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Anti-dilutive securities   576,113
v3.25.4
Share-based Compensation - Additional Information (Detail) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Sep. 27, 2024
Dec. 31, 2025
Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Share price     $ 14
Share-based compensation expense   $ 13,850 $ 131,490
Revision of Prior Period, Reclassification, Adjustment [Member]      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Share-based compensation expense     5,673
2024 Equity and Incentive Compensation Plan [Member]      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage 1.00%    
Selling, General and Administrative Expenses [Member]      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Share-based compensation expense   13,850 $ (131,490)
Restricted Interest Units Conversion [Member]      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Share-based payment arrangement, plan modification, incremental cost   $ 125,741  
Common Class B [Member] | Restricted Interest Units Conversion [Member]      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Conversion of stock, shares converted   12,321,282  
Common Class A [Member]      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Share price   $ 14  
Common Class A [Member] | 2024 Equity and Incentive Compensation Plan [Member]      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Share-based compensation arrangement by share-based payment award, number of shares authorized 2,000,000    
v3.25.4
Share-based Compensation - Summary of Discount was Determined Using the Finnerty Model (Detail)
 12 Months Ended
Dec. 31, 2024
$ / shares
Share-Based Payment Arrangement [Abstract]  
Volatility 60.00%
Expected life (in months) 6 months
Risk-free rate 4.30%
Price per unit $ 14
v3.25.4
Share-based Compensation - Summary of Class B Common Stock, Issued as Incentive Awards, Activity (Detail) - Incentive Awards [Member] - Class A Common Stock and B Common Stock [Member] - $ / shares
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2025
Schedule of Non Vested Share Activity [Line Items]    
Shares outstanding beginning (in shares) 0 1,243,706
Shares granted (in shares) 12,321,282  
Shares vested (in shares) (11,070,502) (1,242,394)
Shares forfeited (in shares) (7,074) (1,312)
Shares outstanding ending (in shares) 1,243,706 0
Shares outstanding beginning (in dollars per share) $ 13.3
Shares granted (in dollars per share) 12.67  
Shares vested (in dollars per share) 12.6 13.3
Shares forfeited (in dollars per share) 13.3 $ 13.3
Shares outstanding ending (in dollars per share) $ 13.3  
v3.25.4
Share-based Compensation - Summary of Restricted Stock Unit Activity (Detail) - Restricted Stock Units (RSUs) [Member] - $ / shares
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2025
Schedule of Nonvested Restricted Stock Units Activity [Line Items]    
Shares outstanding beginning (in shares) 0 10,713
Shares granted (in shares) 10,713 637,181
Shares vested (in shares)   (10,713)
Shares forfeited (in shares) 0 (14,173)
Shares outstanding ending (in shares) 10,713 623,008
Shares outstanding beginning (in dollars per share) $ 0 $ 14
Shares granted (in dollars per share) 14 19.98
Shares vested (in dollars per share)   14
Shares forfeited (in dollars per share) 19.75
Shares outstanding ending (in dollars per share) $ 14 $ 19.99
v3.25.4
Share-based Compensation - Summary of Share-based Compensation Expense (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total share-based compensation expense (income) $ 13,850 $ 131,490
Pre-IPO awards    
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total share-based compensation expense (income) 0 5,673
Restricted Interest Unit Conversion Awards Issued in Connection with IPO    
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total share-based compensation expense (income) 0 122,244
Unvested Class A and B common stock    
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total share-based compensation expense (income) 10,036 3,498
Restricted stock units    
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total share-based compensation expense (income) $ 3,814 $ 75
v3.25.4
Share-based Compensation - Schedule of Unamortized Share Based Compensation Incentive Awards (Detail)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Schedule of Unamortized Share Based Compensation Incentive Awards [Line Items]  
Unamortized share-based compensation costs related to each share-based incentive award (in dollars) $ 8,714
Restricted Stock Units (RSUs) [Member]  
Schedule of Unamortized Share Based Compensation Incentive Awards [Line Items]  
Unamortized share-based compensation costs related to each share-based incentive award (in dollars) $ 8,714
Unamortize share-based compensation costs related to each share-based incentive award (years) 2 years 1 month 6 days
v3.25.4
Segments - Summary of Operating Segment Revenue, Net Income (Loss) (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues $ 1,448,685 $ 1,228,409
Share-based compensation expense 13,850 131,490
Depreciation and amortization 22,335 19,772
Income taxes 24,465 4,556
Net income (loss) 48,958 (71,033)
Consolidated net income (loss) 49,219 (110,047)
Corporate Segment [Member]    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 1,448,685 1,228,409
Employee expenses (excluding share-based compensation expense) 309,600 268,621
Share-based compensation expense 13,850 131,490
Other segment items 1,028,812 871,725
Depreciation and amortization 22,335 19,772
Interest expense 665 3,278
Income taxes 24,465 4,556
Net income (loss) 48,958 (71,033)
Adjustments and reconciling items 0 0
Consolidated net income (loss) $ 48,958 $ (71,033)
v3.25.4
Related Party Transactions - Additional Information (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Related Party Transaction [Line Items]    
Revenues $ 1,448,685 $ 1,228,409
Beneficial Owner [Member]    
Related Party Transaction [Line Items]    
Revenues $ 4,625 $ 23,256
v3.25.4
Income Taxes - Additional Information (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Income Taxes [Line Items]    
Effective income tax rate reconciliation, percent 33.30% (6.90%)
Effective income tax rate reconciliation, at federal statutory income tax rate, percent 21.00% 21.00%
Incremental share-based compensation upon modification $ 10,039 $ 125,741
Deferred tax asset net 2,199 5,272
Unrecognized tax benefits $ 0 0
Partnership income of non controlling interest before corporate reorganization   $ 39,115
Guardian Pharmacy, LLC [Member]    
Income Taxes [Line Items]    
Subsidiary, ownership percentage, parent 100.00%  
v3.25.4
Income Taxes - Summary of The Expense (Benefit) For Income Taxes (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Current    
Federal $ 16,229 $ 2,970
State 5,162 885
Total current tax 21,391 3,855
Deferred    
Federal 1,941 533
State 1,133 168
Total deferred tax 3,074 701
Provision for income taxes $ 24,465 $ 4,556
v3.25.4
Income Taxes - Schedule of Income Tax Paid by Individual Jurisdiction (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Income Tax Paid, by Individual Jurisdiction [Abstract]    
US Federal $ 16,880 $ 0
US State and Local 4,661 0
Total income tax payments $ 21,541 $ 0
v3.25.4
Income Taxes - Schedule of Income Tax Paid by Individual Jurisdiction (Parenthetical) (Detail)
 12 Months Ended
Dec. 31, 2025
Income Tax Paid, by Individual Jurisdiction [Abstract]  
Revenue disaggregation threshold not met by state jurisdictions 5.00%
v3.25.4
Income Taxes - Summary of Reconciliation Between The Company's Income Tax Expense and Taxes (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Income Tax Disclosure [Line Items]    
State taxes (net of federal benefit) $ 4,973 $ 828
Partnership income (federal) not subject to tax to the Company 55 (8,307)
Nondeductible Compensation 2,108 26,406
Other 282  
Return-to-Provision Adjustments 1,393 (446)
Other Adjustments 235 35
Provision for income taxes $ 24,465 $ 4,556
Tax at federal statutory rate, percent 21.00% 21.00%
State taxes (net of federal benefit), percent 6.80% (1.30%)
Partnership income (federal) not subject to tax to the Company, percent 0.1 12.5
Nondeductible Compensation, percent 2.8 (39.7)
Other, percent 0.40%  
Return-to-Provision Adjustments, percent 1.9 0.7
Other Adjustments, percent 0.30% (0.10%)
Provision for income taxes, percent 33.30% (6.90%)
Domestic Tax Jurisdiction [Member]    
Income Tax Disclosure [Line Items]    
Tax at federal statutory rate $ 15,419 $ (13,960)
Tax at federal statutory rate, percent 21.00% 21.00%
v3.25.4
Income Taxes - Summary of Reconciliation Between The Company's Income Tax Expense and Taxes (Parenthetical) (Detail)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Revenue Disaggregation Threshold Not Met By State Jurisdictions 5.00%
v3.25.4
Income Taxes - Summary of Deferred Tax Assets and Deferred Tax Liabilities (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets    
Amortization $ 5,482 $ 7,939
Lease and rents 9,103 7,382
Insurance and bad debt reserves 3,262 3,366
Accrued expenses 2,161 733
Other 309 341
Total deferred tax assets 20,317 19,761
Valuation allowance for deferred tax assets 0 0
Deferred tax assets, net of valuation allowance 20,317 19,761
Deferred tax liabilities    
Lease and rents (8,274) (7,139)
Depreciation (8,529) (6,609)
Other (1,315) (741)
Net deferred tax assets $ 2,199 $ 5,272
v3.25.4
Segments - Additional Information (Detail)
 12 Months Ended
Dec. 31, 2025
Segment
Segment Reporting [Abstract]  
Number of Reportable Segments 1