Guardian Pharmacy Services, Inc.(GRDN) - 2025 Q1 - Quarterly Results

Financial Performance - Revenue for Q1 2025 was $329.3 million, representing a 20% increase year-over-year driven by organic growth and acquisitions[6] - Net income for Q1 2025 was $9.3 million, an increase of $2.2 million compared to the same period last year[6] - Adjusted EBITDA for Q1 2025 was $23.4 million, reflecting a 16% year-over-year increase[6] - Full-year revenue guidance is reaffirmed at $1.330 billion to $1.350 billion[7] - Adjusted EBITDA guidance for the full year is maintained at $97 million to $101 million[7] - Net income for Q1 2024 was $7,095,000, an increase from $9,273,000 in Q1 2025[22] - Adjusted EBITDA for Q1 2024 was $20,255,000, compared to $23,433,000 in Q1 2025[23] - Net cash provided by operating activities was $8,654,000 in Q1 2024, rising to $17,550,000 in Q1 2025[22] - Cash and cash equivalents at the end of Q1 2024 were $174,000, increasing significantly to $13,999,000 by Q1 2025[22] - Net income as a percentage of revenue was 2.6% in Q1 2024, slightly increasing to 2.8% in Q1 2025[23] Operational Highlights - Resident count reached 189,000, a 15% increase year-over-year, up from 186,000 at the end of Q4 2024[6] - The company completed a small acquisition in Wichita, Kansas, increasing the total number of pharmacies to 52[4] - The company is focused on organic growth and operational excellence while integrating new pharmacies[4] - Guardian's acquisition pipeline remains active with near-term opportunities anticipated[4] Expenses and Financial Metrics - Cash and cash equivalents at the end of Q1 2025 were $14.0 million, with no long-term debt outstanding[6] - GAAP selling, general, and administrative expenses for Q1 2024 were $47,168,000, increasing to $51,344,000 in Q1 2025[23] - Adjusted SG&A as a percentage of revenue was 14.4% in Q1 2024, slightly decreasing to 14.1% in Q1 2025[23] - Depreciation and amortization expenses were $4,751,000 in Q1 2024, increasing to $5,267,000 in Q1 2025[22] - Interest expense for Q1 2024 was $765,000, while it turned into a net income of $(2,000) in Q1 2025[23] - The provision for income taxes was $3,833,000 in Q1 2025, indicating a new expense category for that period[23]