Guardian Pharmacy Services, Inc.GRDN
Guardian Pharmacy Services, Inc. Earnings Per Share Disclosure
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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
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and 2025. (in thousands) |
Year Ended December 31, 2024 |
Year Ended December 31, 2025 |
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| Numerator: |
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| 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 | ) | |||||
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| Net income (loss) attributable to Guardian Pharmacy Services, Inc. | $ | (110,047 | ) | $ | 49,219 | |||
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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 |
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Class A |
Class B |
Class A |
Class B |
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| Basic net income (loss) per share attributable to common stockholders |
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| Numerator: |
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| Allocation of net income (loss) attributable to Guardian Pharmacy Inc. |
$ | (16,261 | ) | $ | (93,786 | ) | $ | 18,099 | $ | 31,120 | ||||||
| Denominator: |
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| 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 | ||||||||||||
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| Basic net income (loss) per share attributable to common stockholders |
$ | (1.77 | ) | $ | (1.77 | ) | $ | 0.79 | $ | 0.79 | ||||||
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| Diluted net income (loss) per share attributable to common stockholders |
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| Numerator: |
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| 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 |
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Class A |
Class B |
Class A |
Class B |
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| Denominator: |
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| 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 | ||||||||||||
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| 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 | ||||||||||||
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| Diluted net income (loss) per share attributable to common stockholders |
$ | (1.77 | ) | $ | (1.77 | ) | $ | 0.78 | $ | 0.78 | ||||||
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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 |
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Class A |
Class B |
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| Anti-dilutive unvested Restricted Stock Units and Class B Common Stock |
99,892 | 576,113 | ||||||
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| Total anti-dilutive securities |
99,892 | 576,113 | ||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 11, 2026 | Showing above |
| 2024 | Mar 26, 2025 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.