Guardian Pharmacy Services (GRDN) 10-Q 12 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Nov. 01, 2024
Document Information [Line Items]
Document Type	10-Q
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
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 Quarterly 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	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		9,200,000
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		54,094,232

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 37,221	$ 752
Accounts receivable, net	90,943	77,262
Inventories	45,216	36,727
Other current assets	6,885	14,864
Total current assets	180,265	129,605
Property and equipment, net	48,125	45,064
Intangible assets, net	15,151	11,979
Goodwill	68,419	56,046
Operating lease right-of-use assets	29,720	28,113
Deferred tax assets	5,973
Other assets	374	358
Total assets	348,027	271,165
Current liabilities:
Accounts payable	106,870	85,603
Accrued compensation	13,955	16,961
Line of credit	10,000	9,000
Notes payable, current portion	5,434	3,977
Operating leases, current portion	6,963	6,229
Other current liabilities	15,096	16,245
Total current liabilities	158,318	138,015
Notes payable, net of current portion	28,666	18,992
Operating leases, net of current portion	23,840	22,803
Other liabilities	3,307	31,496
Total liabilities	214,131	211,306
Commitments and contingencies (see Note 6)
Equity:
Members' equity		28,209
Additional paid-in capital	122,323
Retained earnings	5,181
Non-controlling interests	6,329	31,650
Total equity	133,896	59,859
Total liabilities and equity	348,027	$ 271,165
Class A common stock [Member]
Equity:
Common stock	9
Class B common stock [Member]
Equity:
Common stock	$ 54

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical)	Sep. 30, 2024 $ / shares shares
Class A common stock [Member]
Common stock, par or stated value per share | $ / shares	$ 0.001
Common Stock [Member] | Class A common stock [Member]
Common stock, shares authorized	700,000,000
Common stock, par or stated value per share | $ / shares	$ 0.001
Common stock, shares, issued	9,200,000
Common stock, shares, outstanding	9,200,000
Common Stock [Member] | Class B common stock [Member]
Common stock, shares authorized	100,000,000
Common stock, par or stated value per share | $ / shares	$ 0.001
Common stock, shares, issued	54,094,232
Common stock, shares, outstanding	54,094,232

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues		$ 314,393	$ 262,741	$ 889,840	$ 765,126
Cost of goods sold		253,515	210,549	712,573	611,394
Gross profit		60,878	52,192	177,267	153,732
Selling, general, and administrative expenses		165,491	58,522	256,942	128,310
Operating income (loss)		(104,613)	(6,330)	(79,675)	25,422
Other expenses:
Interest expense		1,026	716	2,857	2,120
Other expense (income), net		2	(51)	166	141
Total other expenses		1,028	665	3,023	2,261
Income (loss) before income taxes		(105,641)	(6,995)	(82,698)	23,161
Provision for income taxes		176		176
Net income (loss)		(105,817)	(6,995)	(82,874)	23,161
Less net income (loss) attributable to Guardian Pharmacy, LLC prior to the Corporate Reorganization		9,350	(11,290)	22,760	11,884
Less net income attributable to non-controlling interests		6,823	$ 4,295	16,356	$ 11,277
Net income (loss) attributable to Guardian Pharmacy Services, Inc.		$ (121,990)		$ (121,990)
Class A and Class B common stock [Member]
Net income (loss) per share of Class A and Class B common stock
Basic	[1]	$ (2)		$ (2)
Diluted	[1]	$ (2)		$ (2)
Weighted-average Class A and Class B common shares outstanding
Basic		61,143,311		61,143,311
Diluted		61,143,311		61,143,311
[1]Basic and diluted net income (loss) per share of Class A and Class B common stock is applicable only for the period from September 27, 2024 through September 30, 2024, which is the period following the initial public offering (“IPO”) and related Corporate Reorganization (as defined in Note 1 to the Unaudited Interim Consolidated Financial Statements). See Note 7 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.

Consolidated Statements of Chan

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, 2022	$ 75,929			$ 42,729					$ 33,200
Contributions	195								195
Non-cash equity contribution	225								225
Net income prior to Corporate Reorganization	5,714			1,704					4,010
Distributions	(9,346)			(6,166)					(3,180)
Ending Balance at Mar. 31, 2023	72,717			38,267					34,450
Beginning Balance at Dec. 31, 2022	75,929			42,729					33,200
Net income	23,161
Ending Balance at Sep. 30, 2023	59,699			26,191					33,508
Beginning Balance at Mar. 31, 2023	72,717			38,267					34,450
Contributions	120								120
Net income prior to Corporate Reorganization	24,442			21,470					2,972
Distributions	(20,500)			(15,724)					(4,776)
Ending Balance at Jun. 30, 2023	76,779			44,013					32,766
Contributions	223								223
Net income	(6,995)
Net income prior to Corporate Reorganization	(6,995)			(11,290)					4,295
Distributions	(10,308)			(6,532)					(3,776)
Ending Balance at Sep. 30, 2023	59,699			26,191					33,508
Beginning Balance at Dec. 31, 2023	59,859			28,209					31,650
Contributions	428								428
Net income	7,095			2,786					4,309
Distributions	(10,809)			(7,130)					(3,679)
Ending Balance at Mar. 31, 2024	56,573			23,865					32,708
Beginning Balance at Dec. 31, 2023	59,859			28,209					31,650
Net income	(82,874)
Net income (loss) attributable to Guardian Pharmacy Services, Inc.	(121,990)	$ (16,560)	$ (105,430)
Ending Balance at Sep. 30, 2024	133,896				$ 9	$ 54	$ 122,323	$ 5,181	6,329
Ending Balance (Shares) at Sep. 30, 2024					9,200,000	54,094,232
Beginning Balance at Mar. 31, 2024	56,573			23,865					32,708
Contributions	724								724
Net income	15,848			10,624					5,224
Non-cash equity contribution	4,989								4,989
Distributions	(20,921)			(16,612)					(4,309)
Ending Balance at Jun. 30, 2024	57,213			17,877					39,336
Net income	(105,817)
Net income prior to Corporate Reorganization	16,167			9,350					6,817
Contributions prior to Corporate Reorganization	955								955
Distributions prior to Corporate Reorganization	(18,599)			(12,308)					(6,291)
Conversion of non-controlling interest into Guardian Pharmacy, LLC common units				34,494					(34,494)
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.				$ (191,911)		$ 54	9,510	182,347
Issuance of Class A common stock, net of costs (Shares)					9,200,000
Issuance of Class A common stock, net of costs	106,737				$ 9		106,728
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 Guardian Pharmacy Services, Inc.	(121,990)	$ (16,560)	$ (105,430)					(121,990)
Net income attributable to non-controlling interest subsequent to Corporate Reorganization	6								6
Equity-based compensation subsequent to Corporate Reorganization	112						112
Ending Balance at Sep. 30, 2024	$ 133,896				$ 9	$ 54	$ 122,323	$ 5,181	$ 6,329
Ending Balance (Shares) at Sep. 30, 2024					9,200,000	54,094,232

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Members' Equity and Stockholders' Equity (Parenthetical)	9 Months Ended
	Sep. 30, 2024 $ / shares
Statement of Stockholders' Equity [Abstract]
Payment to common stock per share	$ 1.02

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities
Net income (loss)	$ (82,874)	$ 23,161
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	14,619	13,520
Share-based compensation expense	128,029	16,632
Provision for losses on accounts receivable	4,240	3,707
Other	(31)	257
Changes in operating assets and liabilities:
Accounts receivable	(17,285)	(11,958)
Inventories	(6,226)	3,571
Other current assets	768	(2,173)
Accounts payable	14,158	10,213
Accrued compensation	(3,373)	(2,396)
Other operating liabilities	(16,402)	1,731
Net cash provided by operating activities	35,623	56,265
Investing activities
Purchases of property and equipment	(11,867)	(11,793)
Payment for acquisitions	(12,460)	(985)
Other	544	484
Net cash used in investing activities	(23,783)	(12,294)
Financing activities
Proceeds from equity offering, net of underwriter fees	119,784
Payments of equity offering costs	(538)
Payments to Class B common stock stockholders	(55,176)
Borrowings from notes payable	15,000
Repayment of notes payable	(3,750)	(3,000)
Borrowings from line of credit	189,300	198,000
Repayments of line of credit	(188,300)	(196,000)
Principal payments on finance lease obligations	(3,309)	(3,091)
Contributions from non-controlling interests	2,107	538
Distributions to non-controlling interests	(14,279)	(11,732)
Member distributions	(36,050)	(28,422)
Other	(160)	(250)
Net cash provided by (used in) financing activities	24,629	(43,957)
Net change in cash and cash equivalents	36,469	14
Cash and cash equivalents, beginning of period	752	607
Cash and cash equivalents, end of period	37,221	621
Supplemental disclosure of cash flow information
Cash paid during the year for interest	2,851	2,082
Supplemental disclosure of non-cash investing and financing activities
Purchases of property and equipment through finance leases	2,256	5,562
Accrued and capitalized offering costs recorded to additional paid-in capital	12,509
Non-cash equity contributions from non-controlling members	$ 4,989	$ 225

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ (121,990)	$ (121,990)

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Sep. 30, 2024
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

Organization and Background

Organization and Background	9 Months Ended
	Sep. 30, 2024
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 the business of Guardian Pharmacy, LLC, which was formed on July 21, 2003 as an Indiana limited liability company, as a publicly-traded entity. 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 S • Guardian Pharmacy, LLC became a wholly owned subsidiary of the Company by participating in a merger the Company’s and In merger, were issued in exchange for Common Units of Guardian Pharmacy, LLC. In accordance the terms of the Company’s Amended and Restated Certificate of Incorporation, such issued shares will convert on a one-for-one basis into shares of the Company’s the two The cash payment related to the 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 The Non-Converted start-up Non-Converted 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, paid-in 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 paid-in

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Principles of consolidation The accompanying unaudited interim 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 accompanying unaudited interim consolidated financial statements are prepared in conformity with the generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial reporting. Accordingly, these unaudited interim consolidated financial statements do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. Certain footnote disclosures have been omitted that would substantially duplicate the disclosures in the Company’s audited consolidated financial statements and accompanying notes as of and for the year ended December 31, 2023 (included within the Prospectus), unless information contained in those disclosures materially changed or is required by U.S. GAAP to be included in interim financial statements. In the opinion of management, all adjustments, including normal recurring adjustments, necessary for a fair presentation of the unaudited interim consolidated financial statements as of and for the three and nine months ended September 30, 2023 and 2024 have been recorded. The results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2024, or any other period. These interim financial statements should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes as of and for the year ended December 31, 2023. 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 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. 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 and liabilities for the expected future tax consequences attributable to temporary differences between the financial statement carrying amounts and their respective tax bases of assets and liabilities and the expected benefits of net operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. 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 it is more likely than not that a portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which related temporary differences become deductible. The Company recognizes the impact of a tax position only if it is more likely than not to be sustained upon examination based on the technical merits of the position. The Company’s policy is to recognize potential interest and penalties related to uncertain tax positions in income tax expense. As of September 30, 2024 and December 31, 2023, no liability for unrecognized tax benefits was required to be reported. See Note 9 for additional disclosures regarding income taxes. The Company and its subsidiaries file income tax returns and are subject to examinations in the U.S. federal jurisdiction and in various states. Prior to the Corporate Reorganization, Guardian Pharmacy, LLC was subject to state income taxes, which did not result in any material tax impacts. New Accounting Pronouncements The following table provides a description of recent accounting pronouncements that are applicable to the Company’s unaudited interim Consolidated Financial Statements: New Accounting Standard Adopted ASU Number and Name Description Date of Adoption Effect on the unaudited interim 2016-13, 2018-19, 2019-04, 2019-05, ASU 2016-13 held-to-maturity available-for-sale January 1, 2023 The Company adopted the standard on January 1, 2023 with no material impact on its Consolidated Financial Statements. New Accounting Standards Not Yet Effective 2023-07, Reportable ASU 2023-07 January 1, 2024 for annual disclosures. January 1, 2025 for interim disclosures. The Company is currently evaluating the impact of adopting the standard on its Consolidated Financial Statements. The adoption is not expected to have a material impact on the Consolidated Financial Statements. 2023-09, ASU 2023-09 January 1, 2025 for annual disclosures. The Company is currently evaluating the impact of adopting the standard on its Consolidated Financial Statements.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2024
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. During the nine months ended September 30, 2024, the Company completed acquisitions of various pharmacy operations (the “Acquisitions”). Total consideration for the Acquisitions included cash of $12,460, an inventory payment payable of $722, based on the fair value of inventory on the acquisition date, 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 respective The Acquisitions included non-controlling non-controlling non-controlling non-controlling The 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 judgement after evaluating several factors, including a preliminary valuation assessment. This recognition is preliminary and subject to changes, which could be material, as additional information becomes available and the valuation of assets and liabilities is finalized. There were no material measurement period adjustments recognized in periods subsequent to the Acquisitions. The preliminary recognition of the assets and liabilities of the Acquisitions as of September 30, 2024 is as follows: (in thousands) Fair Value Total preliminary purchase consideration $ 15,882 Net assets acquired: Inventory 2,261 Other assets 2,138 Intangible Assets 5,607 Other liabilities (1,508 ) Non-controlling (4,989 ) Net assets acquired 3,509 Goodwill $ 12,373 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 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 $12,373 of goodwill recorded related to the Acquisitions, $9,256 is expected to be deductible for tax purposes. Intangible assets are comprised of customer lists and trademarks. The fair values and the weighted average useful lives for the customer lists and trademarks were $5,057 and $550, and 10 years and 5 years, respectively. Consolidated Results of Operations The results of operations for the Acquisitions have been included in the consolidated financial statements since the date of acquisition. During the three and nine months ended September 30, 2024, the Company’s consolidated statements of operations included $16,563 and $32,434, respectively, of revenue associated with the Acquisitions. Net income associated with the Acquisitions is not material to the consolidated financial statements. The comparable prior period results of operations associated with the Acquisitions are not material to the consolidated financial statements, and as such, supplemental pro forma financial information is not presented.

Debt Arrangements

Debt Arrangements	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt Arrangements	4. 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 Notes Payable The Amendment added a new term loan of $ to the Credit Facility and extended the maturity date of the existing and new term loan (collectively referred to as the “Term Loan”) to . The interest rate of the Term Loan now bears an interest rate equal to the one-month SOFR plus an additional rate of % to % based on certain financial ratios maintained by the Company. The Term Loan is payable in quarterly installments of $ 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. Long-term debt consists of the following: (in thousands) December 31, September 30, Term loan $ 23,000 $ 34,250 Deferred financing costs, net (31 ) (151 ) Total notes payable 22,969 34,099 Less current portion (3,977 ) (5,434 ) Notes payable, net of current portion $ 18,992 $ 28,665 As of September 30, 2024, future principal payment obligations for long-term debt are as follows for the years ending December 31: (in thousands) 2024 $ 1,375 2025 5,500 2026 5,500 2027 21,875 Total $ 34,250 The Company was in compliance with all debt covenants at September 30, 2024.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements 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, accrued expenses, line of credit, and notes payable. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to the short-term maturity of these instruments. The Company estimates that the carrying amount of the line of credit and notes payable approximates fair value due to the fluctuation of their variable interest rates with market movement. 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 September 30, 2024 Liabilities: Contingent consideration payable $ —  $ —  $ 2,700 Fair value of financial instruments $ —  $ —  $ 2,700 The fair value measurement of the contingent consideration obligations arising from acquisitions is based upon Level 3 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. Changes in the fair value of the contingent consideration obligations subsequent to the Acquisitions 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 nine-month period ended September 30, 2024: Balance at December 31, 2023 $ —  Current year acquisitions 2,700 Fair value adjustments —  Payments —  Balance at September 30, 2024 $ 2,700

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. 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. The Company recorded legal expenses totaling $314 and $687 for the three months ended September 30, 2023 and 2024, respectively, and $1,457 and $4,745 for the nine months ended September 30, 2023 and September 30, 2024, respectively.

Basic and Diluted Loss Per Shar

Basic and Diluted Loss Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Basic and Diluted Loss Per Share	7. Basic and Diluted Loss Per Share Basic earnings per share of Class A 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 and Class B common stock outstanding during the period. The Class A 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 and Class B common stock will be equal. Diluted earnings per share of Class A 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 and Class B common stock outstanding, adjusted to give effect to potentially dilutive elements. As the Company recorded a net loss in the three and nine months period ended September 30, 2024, the potential adjustments to basic earnings per share were anti-dilutive, and thus, basis earnings per share and diluted earnings per share are equal. 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, earnings per share information has not been presented for the three and nine months ended September 30, 2023, and the basic and diluted earnings per share calculations for the three and nine months ended September 30, 2024 represent the post IPO period from September 27, 2024 to September 30, 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 and Class B common stock for the quarter ended September 30, 2024. (in thousands) Three Months Ended Nine Months Ended Numerator: Net income (loss) (105,817 ) (82,874 ) Less: Net income attributable to Guardian Pharmacy, LLC before Corporate Reorganization 9,350 22,760 Less: Net income attributable to noncontrolling interests 6,823 16,356 Net income (loss) attributable to Guardian Pharmacy Services, Inc. (121,990 ) (121,990 ) The following table sets forth the computation of basic and diluted net income per share of Class A and Class B common stock (in thousands, except share amounts, and per share amounts): Three Months Ended Nine Months Ended September 30, 2024 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. $ (16,560 ) $ (105,430 ) $ (16,560 ) $ (105,430 ) Denominator: Weighted average number of shares of Class A and 8,300,000 52,843,311 8,300,000 52,843,311 Basic net income (loss) per share attributable to common stockholders $ (2.00 ) $ (2.00 ) $ (2.00 ) $ (2.00 ) Diluted net income (loss) per share attributable to common stockholders Numerator: Allocation of net income (loss) attributable to Guardian Pharmacy Inc. $ (16,560 ) $ (105,430 ) $ (16,560 ) $ (105,430 ) Denominator: Number of shares used in basic computation 8,300,000 52,843,311 8,300,000 52,843,311 Dilutive Restricted Stock Units and Class B —  —  —  —  Weighted average shares of Class A and Class B common stock outstanding used to calculate diluted net income (loss) per share 8,300,000 52,843,311 8,300,000 52,843,311 Diluted net income (loss) per share attributable to common stockholders $ (2.00 ) $ (2.00 ) $ (2.00 ) $ (2.00 ) The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive: Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Class A Class B Class A Class B Anti-dilutive unvested Restricted Stock Units and Class B Common Stock     60,543      385,460       60,543      385,460   Total anti-dilutive securities 60,543 385,460 60,543 385,460

Share-based Compensation

Share-based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	8. Share-based Compensation Prior to the Corporate Reorganization and IPO, share-based compensation expense (income) primarily relates to awards in the form of Restricted Interest Units. These cash-settled awards are recorded as liabilities until payout was made or the award was forfeited. These units vest in their entirety on the third anniversary of their grant date. Vesting is subject to continued service. Compensation costs are recognized ratably over the vesting period based upon the value of the awards as of period end. The value of these awards is 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 are 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 are 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. The Company recorded $15,210 and $0 of share-based compensation liability within Other liabilities on its Consolidated Balance Sheets as of December 31, 2023 and September 30, 2024, respectively. 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 (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 $122,355 of share-based compensation expense during the three months ended September 30, 2024, attributable to the increased fair value of the vested units. This expense was considered an expense of the Company, as it was incurred in connection with the Corporate Reorganization and IPO, and as such, it is included in net income (loss) attributable to Guardian Pharmacy Services, Inc. on the consolidated statements of operations for the three and nine months ended September 30, 2024. 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: Nine Months Ended Volatility 60.0 % Expected life (in months) 6.0 Risk-free rate 4.3 % Fair value 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 fair value per unit is based on the IPO price of Class A common stock of $14.00. Class B common stock, issued as incentive awards, activity is as follows during the periods indicated: Class B Common Stock Weighted Average Grant Unvested at September 27, 2024 —  $ —  Granted 12,321,282 $ 12.67 Vested (11,070,502 ) $ 12.60 Forfeited —  $ —  Unvested at September 30, 2024 1,250,780 $ 13.30 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, and Restricted Interest Unit awards (related to the Non-Converted 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. Restricted Stock Units (“RSU”) Awards In connection with the IPO, and under the 2024 Plan, non-employee shares . Restricted Stock Unit activity was as follows during the periods indicated: Restricted Stock Units Weighted Average Grant Unvested at September 27, 2024 —  $ —  Granted 10,713 $ 14.00 Forfeited —  $ —  Unvested at September 30, 2024 10,713 $ 14.00 Share-based compensation expense Share-based compensation expense is recorded to selling, general, and administrative expenses in the consolidated statement of operations, and is as follows for the periods indicated: Three Months Ended Nine Months Ended 2023 2024 2023 2024 Total share-based compensation expense $ 20,700 $ 122,355 $ 16,632 $ 128,029 As of September 30, 2024, 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 Class B common stock $ 13,513 0.9 Restricted stock units 150 0.5 Total unamortized share-based compensation cost $ 13,663 The Company accounts for forfeitures as they occur for each share-based incentive award above.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes Guardian Pharmacy Services, Inc. is taxed as a corporation and is subject to paying corporate federal and state and local taxes on the income allocated to it from its 100% ownership of Guardian Pharmacy, LLC, which includes economic interest held in the Non-Converted Subsidiaries, as well as any stand-alone income or loss it generates. The Non-Converted Subsidiaries 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 Company’s effective tax rate for the period subsequent to the Corporate Reorganization, September 27, 2024 through September 30, 2024, was -0.1% Note 8—Share-based Compensation The Company’s effective tax rate for periods prior to the Corporate Reorganization was zero percent because Guardian Pharmacy, LLC was not taxed at the entity level prior to the Corporate Reorganization. As a result of the Corporate Reorganization, the Company received tax basis for the $55,176 in cash payments (the “tax step-up”) step-up, paid-in No uncertain tax positions existed as of September 30, 2024.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation The accompanying unaudited interim 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 accompanying unaudited interim consolidated financial statements are prepared in conformity with the generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial reporting. Accordingly, these unaudited interim consolidated financial statements do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. Certain footnote disclosures have been omitted that would substantially duplicate the disclosures in the Company’s audited consolidated financial statements and accompanying notes as of and for the year ended December 31, 2023 (included within the Prospectus), unless information contained in those disclosures materially changed or is required by U.S. GAAP to be included in interim financial statements. In the opinion of management, all adjustments, including normal recurring adjustments, necessary for a fair presentation of the unaudited interim consolidated financial statements as of and for the three and nine months ended September 30, 2023 and 2024 have been recorded. The results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2024, or any other period. These interim financial statements should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes as of and for the year ended December 31, 2023. 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 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.
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 and liabilities for the expected future tax consequences attributable to temporary differences between the financial statement carrying amounts and their respective tax bases of assets and liabilities and the expected benefits of net operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. 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 it is more likely than not that a portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which related temporary differences become deductible. The Company recognizes the impact of a tax position only if it is more likely than not to be sustained upon examination based on the technical merits of the position. The Company’s policy is to recognize potential interest and penalties related to uncertain tax positions in income tax expense. As of September 30, 2024 and December 31, 2023, no liability for unrecognized tax benefits was required to be reported. See Note 9 for additional disclosures regarding income taxes. The Company and its subsidiaries file income tax returns and are subject to examinations in the U.S. federal jurisdiction and in various states. Prior to the Corporate Reorganization, Guardian Pharmacy, LLC was subject to state income taxes, which did not result in any material tax impacts.
New Accounting Pronouncements	New Accounting Pronouncements The following table provides a description of recent accounting pronouncements that are applicable to the Company’s unaudited interim Consolidated Financial Statements: New Accounting Standard Adopted ASU Number and Name Description Date of Adoption Effect on the unaudited interim 2016-13, 2018-19, 2019-04, 2019-05, ASU 2016-13 held-to-maturity available-for-sale January 1, 2023 The Company adopted the standard on January 1, 2023 with no material impact on its Consolidated Financial Statements. New Accounting Standards Not Yet Effective 2023-07, Reportable ASU 2023-07 January 1, 2024 for annual disclosures. January 1, 2025 for interim disclosures. The Company is currently evaluating the impact of adopting the standard on its Consolidated Financial Statements. The adoption is not expected to have a material impact on the Consolidated Financial Statements. 2023-09, ASU 2023-09 January 1, 2025 for annual disclosures. The Company is currently evaluating the impact of adopting the standard on its Consolidated Financial Statements.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combinations [Abstract]
Summary of Preliminary Recognition of the Assets and Liabilities of the Acquisitions	The preliminary recognition of the assets and liabilities of the Acquisitions as of September 30, 2024 is as follows: (in thousands) Fair Value Total preliminary purchase consideration $ 15,882 Net assets acquired: Inventory 2,261 Other assets 2,138 Intangible Assets 5,607 Other liabilities (1,508 ) Non-controlling (4,989 ) Net assets acquired 3,509 Goodwill $ 12,373

Debt Arrangements (Tables)

Debt Arrangements (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Summary of Long-term Debt	Long-term debt consists of the following: (in thousands) December 31, September 30, Term loan $ 23,000 $ 34,250 Deferred financing costs, net (31 ) (151 ) Total notes payable 22,969 34,099 Less current portion (3,977 ) (5,434 ) Notes payable, net of current portion $ 18,992 $ 28,665
Summary of Future Principal Payment Obligations for Long-term Debt	As of September 30, 2024, future principal payment obligations for long-term debt are as follows for the years ending December 31: (in thousands) 2024 $ 1,375 2025 5,500 2026 5,500 2027 21,875 Total $ 34,250

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [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 September 30, 2024 Liabilities: Contingent consideration payable $ —  $ —  $ 2,700 Fair value of financial instruments $ —  $ —  $ 2,700
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 nine-month period ended September 30, 2024: Balance at December 31, 2023 $ —  Current year acquisitions 2,700 Fair value adjustments —  Payments —  Balance at September 30, 2024 $ 2,700

Basic and Diluted Loss Per Sh_2

Basic and Diluted Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
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 and Class B common stock for the quarter ended September 30, 2024. (in thousands) Three Months Ended Nine Months Ended Numerator: Net income (loss) (105,817 ) (82,874 ) Less: Net income attributable to Guardian Pharmacy, LLC before Corporate Reorganization 9,350 22,760 Less: Net income attributable to noncontrolling interests 6,823 16,356 Net income (loss) attributable to Guardian Pharmacy Services, Inc. (121,990 ) (121,990 )
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 and Class B common stock (in thousands, except share amounts, and per share amounts): Three Months Ended Nine Months Ended September 30, 2024 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. $ (16,560 ) $ (105,430 ) $ (16,560 ) $ (105,430 ) Denominator: Weighted average number of shares of Class A and 8,300,000 52,843,311 8,300,000 52,843,311 Basic net income (loss) per share attributable to common stockholders $ (2.00 ) $ (2.00 ) $ (2.00 ) $ (2.00 ) Diluted net income (loss) per share attributable to common stockholders Numerator: Allocation of net income (loss) attributable to Guardian Pharmacy Inc. $ (16,560 ) $ (105,430 ) $ (16,560 ) $ (105,430 ) Denominator: Number of shares used in basic computation 8,300,000 52,843,311 8,300,000 52,843,311 Dilutive Restricted Stock Units and Class B —  —  —  —  Weighted average shares of Class A and Class B common stock outstanding used to calculate diluted net income (loss) per share 8,300,000 52,843,311 8,300,000 52,843,311 Diluted net income (loss) per share attributable to common stockholders $ (2.00 ) $ (2.00 ) $ (2.00 ) $ (2.00 )
Summary of Diluted Shares Outstanding as the Effect would have been Anti-Dilutive	The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive: Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Class A Class B Class A Class B Anti-dilutive unvested Restricted Stock Units and Class B Common Stock     60,543      385,460       60,543      385,460   Total anti-dilutive securities 60,543 385,460 60,543 385,460

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
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: Nine Months Ended Volatility 60.0 % Expected life (in months) 6.0 Risk-free rate 4.3 % Fair value per unit $ 14.00
Summary of Class B Common Stock, Issued as Incentive Awards, Activity	Class B common stock, issued as incentive awards, activity is as follows during the periods indicated: Class B Common Stock Weighted Average Grant Unvested at September 27, 2024 —  $ —  Granted 12,321,282 $ 12.67 Vested (11,070,502 ) $ 12.60 Forfeited —  $ —  Unvested at September 30, 2024 1,250,780 $ 13.30
Summary of Restricted Stock Unit Activity	Restricted Stock Unit activity was as follows during the periods indicated: Restricted Stock Units Weighted Average Grant Unvested at September 27, 2024 —  $ —  Granted 10,713 $ 14.00 Forfeited —  $ —  Unvested at September 30, 2024 10,713 $ 14.00
Summary of Share-based Compensation Expense	Share-based compensation expense is recorded to selling, general, and administrative expenses in the consolidated statement of operations, and is as follows for the periods indicated: Three Months Ended Nine Months Ended 2023 2024 2023 2024 Total share-based compensation expense $ 20,700 $ 122,355 $ 16,632 $ 128,029
Schedule of Unamortized Share Based Compensation Incentive Awards	As of September 30, 2024, 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 Class B common stock $ 13,513 0.9 Restricted stock units 150 0.5 Total unamortized share-based compensation cost $ 13,663

Organization and Background - A

Organization and Background - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	9 Months Ended
	Sep. 27, 2024	Sep. 30, 2024	Sep. 30, 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	$ 106,737
Payment of underwriting discounts	9,016
Addition of underwriting discounts incurred of offering costs	$ 13,047
Stockholders' equity note, stock split			one-for-one
Conversion of stocks period			2 years
Guardian Pharmacy, LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Subsidiary, ownership percentage, parent		100%	100%
Common Class B [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Conversion of stock per shares converted		$ 0.001	$ 0.001
Right to receive per share cash		1.02	1.02
Common Class A [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock, par or stated value per share		$ 0.001	$ 0.001
Stock issued during period, shares, new issues	9,200,000
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

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Unrecognized tax benefits	$ 0	$ 0

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill	$ 68,419	$ 68,419	$ 56,046
Pharmacy Operations [Member]
Business Acquisition [Line Items]
Business combination, consideration transferred		15,882
Business combination, contingent consideration, liability	2,700	2,700
Business combination, acquisition of less than 100 percent, noncontrolling interest, fair value	4,989	4,989
Goodwill	12,373	12,373
Business acquisition, goodwill, expected tax deductible amount	9,256	9,256
Revenue associated with the acquisitions	16,563	32,434
Customer Lists [Member] | Pharmacy Operations [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets, fair value disclosure	$ 5,057	$ 5,057
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	$ 550	$ 550
Finite-lived intangible asset, useful life	5 years	5 years
Cash [Member] | Pharmacy Operations [Member]
Business Acquisition [Line Items]
Business combination, consideration transferred		$ 12,460
Inventory [Member] | Pharmacy Operations [Member]
Business Acquisition [Line Items]
Business combination, consideration transferred		722
Contingent Earnout Payment [Member] | Pharmacy Operations [Member]
Business Acquisition [Line Items]
Business combination, consideration transferred		$ 2,700

Acquisitions - Summary of Preli

Acquisitions - Summary of Preliminary Recognition of the Assets and Liabilities of the Acquisitions (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Net assets acquired:
Goodwill	$ 68,419	$ 56,046
Pharmacy Operations [Member]
Business Acquisition [Line Items]
Total preliminary purchase consideration	15,882
Net assets acquired:
Inventory	2,261
Other assets	2,138
Intangible Assets	5,607
Other liabilities	(1,508)
Non-controlling interest equity	(4,989)
Net assets acquired	3,509
Goodwill	$ 12,373

Debt Arrangements - Additional

Debt Arrangements - Additional Information (Detail) - USD ($) $ in Thousands		9 Months Ended
	May 13, 2024	Sep. 30, 2024
Debt Instrument [Line Items]
Long-term debt, gross		$ 34,250
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%
Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, fair value of amount outstanding		$ 30,000
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%

Debt Arrangements - Summary of

Debt Arrangements - Summary of Long-term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Term loan	$ 34,250	$ 23,000
Deferred financing costs, net	(151)	(31)
Total notes payable	34,099	22,969
Less current portion	(5,434)	(3,977)
Notes payable, net of current portion	$ 28,665	$ 18,992

Debt Arrangements - Summary o_2

Debt Arrangements - Summary of Future Principal Payment Obligations for Long-term Debt (Detail) $ in Thousands	Sep. 30, 2024 USD ($)
Debt Disclosure [Abstract]
2024	$ 1,375
2025	5,500
2026	5,500
2027	21,875
Total	$ 34,250

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Liabilities Measured at Fair Value on a Recurring Basis on the Company's Consolidated Balance Sheets (Detail) - Fair Value, Recurring [Member] $ in Thousands	Sep. 30, 2024 USD ($)
Level 1 [Member]
Liabilities:
Contingent consideration payable
Fair value of financial instruments
Level 2 [Member]
Liabilities:
Contingent consideration payable
Fair value of financial instruments
Level 3 [Member]
Liabilities:
Contingent consideration payable	2,700
Fair value of financial instruments	$ 2,700

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Reconciliation of the Activity for the Level 3 Contingent Consideration Fair Value Measurements (Detail) - Level 3 [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance
Current year acquisitions	2,700
Fair value adjustments
Payments
Ending balance	$ 2,700

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Legal expenses	$ 687	$ 314	$ 4,745	$ 1,457

Basic and Diluted Loss Per Sh_3

Basic and Diluted Loss Per Share - Additional Information (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) shares
Distribution of Capital Stock of Subsidiaries to Stockholders in Corporate Liquidations and Reorganizations [Member] | Common Class B [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Merger consideration payment to stock holders in connection with corporate reorganization | $	$ 55,176
Prior to the Corporate Reorganization [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares, issued | shares	100

Basic and Diluted Loss Per Sh_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	3 Months Ended				9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income (loss)	$ (105,817)	$ 15,848	$ 7,095	$ (6,995)	$ (82,874)	$ 23,161
Less: Net income attributable to Guardian Pharmacy, LLC before Corporate Reorganization	9,350			(11,290)	22,760	11,884
Less: Net income attributable to noncontrolling interests	6,823			$ 4,295	16,356	$ 11,277
Net income (loss) attributable to Guardian Pharmacy Services, Inc.	$ (121,990)				$ (121,990)

Basic and Diluted Loss Per Sh_5

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	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Numerator:
Net Income (Loss)	$ (121,990)	$ (121,990)
Numerator:
Net Income (Loss)	(121,990)	(121,990)
Common Class A [Member]
Numerator:
Net Income (Loss)	$ (16,560)	$ (16,560)
Denominator:
Weighted average number of shares of Class A and Class B common stock outstanding	8,300,000	8,300,000
Basic net income (loss) per share attributable to common stockholders	$ (2)	$ (2)
Numerator:
Net Income (Loss)	$ (16,560)	$ (16,560)
Denominator:
Number of shares used in basic computation	8,300,000	8,300,000
Weighted average shares of Class A and Class B common stock outstanding used to calculate diluted net income (loss) per share	8,300,000	8,300,000
Diluted net income (loss) per share attributable to common stockholders	$ (2)	$ (2)
Common Class B [Member]
Numerator:
Net Income (Loss)	$ (105,430)	$ (105,430)
Denominator:
Weighted average number of shares of Class A and Class B common stock outstanding	52,843,311	52,843,311
Basic net income (loss) per share attributable to common stockholders	$ (2)	$ (2)
Numerator:
Net Income (Loss)	$ (105,430)	$ (105,430)
Denominator:
Number of shares used in basic computation	52,843,311	52,843,311
Weighted average shares of Class A and Class B common stock outstanding used to calculate diluted net income (loss) per share	52,843,311	52,843,311
Diluted net income (loss) per share attributable to common stockholders	$ (2)	$ (2)
Restricted Stock [Member] | Common Class A [Member]
Denominator:
Dilutive Restricted Stock Units and Class B Common Stock
Restricted Stock [Member] | Common Class B [Member]
Denominator:
Dilutive Restricted Stock Units and Class B Common Stock

Basic and Diluted Loss Per Sh_6

Basic and Diluted Loss Per Share - Summary of Diluted Shares Outstanding as the Effect would have been Anti-Dilutive (Detail) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Common Class A [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	60,543	60,543
Common Class B [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	385,460	385,460
Restricted Stock [Member] | Common Class A [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	60,543	60,543
Restricted Stock [Member] | Common Class B [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	385,460	385,460

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	9 Months Ended
	Sep. 27, 2024	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Deferred compensation share-based arrangements, liability, current and noncurrent		$ 0	$ 0	$ 15,210
Share price		$ 14	$ 14
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%
Restricted Interest Units Conversion [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, plan modification, incremental cost		$ 122,355
Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Nonemployee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share price		$ 14	$ 14
Share-based compensation arrangement by share-based payment award, non-option equity instruments, granted			10,713
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	$ 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

Share-based Compensation - Summ

Share-based Compensation - Summary of Discount was Determined Using the Finnerty Model (Detail)	9 Months Ended
	Sep. 30, 2024 $ / shares
Share-Based Payment Arrangement [Abstract]
Volatility	60%
Expected life (in months)	6 months
Risk-free rate	4.30%
Fair value per unit	$ 14

Share-based Compensation - Su_2

Share-based Compensation - Summary of Class B Common Stock, Issued as Incentive Awards, Activity (Detail) - Incentive Awards [Member] - Common Class B [Member]	Sep. 30, 2024 $ / shares shares
Schedule of Non Vested Share Activity [Line Items]
Shares outstanding beginning (in shares | shares
Shares granted (in shares) | shares	12,321,282
Shares vested (in shares) | shares	(11,070,502)
Shares forfeited (in shares) | shares
Shares outstanding ending (in shares) | shares	1,250,780
Shares outstanding beginning (in dollars per share) | $ / shares
Shares granted (in dollars per share) | $ / shares	12.67
Shares vested (in dollars per share) | $ / shares	12.6
Shares forfeited (in dollars per share) | $ / shares
Shares outstanding ending (in dollars per share) | $ / shares	$ 13.3

Share-based Compensation - Su_3

Share-based Compensation - Summary of Restricted Stock Unit Activity (Detail) - Restricted Stock Units (RSUs) [Member]	Sep. 30, 2024 $ / shares shares
Schedule of Nonvested Restricted Stock Units Activity [Line Items]
Shares outstanding beginning (in shares | shares
Shares granted (in shares) | shares	10,713
Shares forfeited (in shares) | shares
Shares outstanding ending (in shares) | shares	10,713
Shares outstanding beginning (in dollars per share) | $ / shares
Shares granted (in dollars per share) | $ / shares	14
Shares forfeited (in dollars per share) | $ / shares
Shares outstanding ending (in dollars per share) | $ / shares	$ 14

Share-based Compensation - Su_4

Share-based Compensation - Summary of Share-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Selling, General and Administrative Expenses [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 122,355	$ 20,700	$ 128,029	$ 16,632

Share-based Compensation - Sche

Share-based Compensation - Schedule of Unamortized Share Based Compensation Incentive Awards (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2024 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)	$ 13,663
Incentive Units Other Than Restricted Stock Units Class B Common Stock [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)	$ 13,513
Unamortize share-based compensation costs related to each share-based incentive award (years)	10 months 24 days
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)	$ 150
Unamortize share-based compensation costs related to each share-based incentive award (years)	6 months

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Income Taxes [Line Items]
Effective income tax rate reconciliation, percent	(0.10%)
Effective income tax rate reconciliation, at federal statutory income tax rate, percent	21%
Incremental share-based compensation upon modification	$ 122,355
Payments for merger related costs		$ 55,176
Adjustment of deferred tax asset liability through additional paid in capital		5,973
Unrecognized tax benefits	$ 0	$ 0	$ 0
Guardian Pharmacy, LLC [Member]
Income Taxes [Line Items]
Subsidiary, ownership percentage, parent	100%	100%