Guardian Pharmacy Services, Inc. · NYSE:GRDN
Guardian Pharmacy Services — Investor Presentation (September 2025)
40 slides from Guardian Pharmacy Services's investor presentation, Sep 18, 2025
Slide 1: Smarter Growth, Better Service
Exhibit 99.1 Smarter Growth, Better Service
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements: This presentation (including oral commentary that accompanies this presentation) has been prepared by Guardian Pharmacy Services, Inc. (“Guardian,” the “Company,” “we” or “us”) and contains forward-looking statements. Forward-looking statements are all stateme
Slide 3: Management team
David Morris Ashley Stockton Fred Burke EVP, CFO, Co-founder Head of Investor Relations President, CEO, Co-founder • Co-founded Guardian Pharmacy Services in • Co-founded Guardian Pharmacy Services in • Ashley joined Guardian Pharmacy Services in 2004 2004 2025 • Previously co-founded Central Pharma
Slide 4: A Differentiated LTC Pharmacy Services Company
A leader in a secular-growth market optimizing medication regimens & adherence: 1 - Lowers cost of care and improves clinical outcomes 11 states 11 2 Multi-pronged growth strategy to expand market share and profitability: - Above-sector growth via organic expansion and disciplined M&A with > 40% Mar
Slide 5: Leading the Way in ALF Assisted Living Facilities
Leading the Way in “ALF” Assisted Living Facilities
Slide 6: ALF & Memory Care Pharmacy Market
ALF & Memory Care Pharmacy Market ~$7 Billion Commercial Ancillary 11 states 11 6% 1% OTC Large Market Opportunity 6% 800,000+ Residents Medicaid 10% with > 40% Market Share Secular Growth (2) ~5% CAGR Med A 7% Highly Fragmented Market Med D 1,200+ Independent Pharmacies 70% (1) Guardian Revenue By
Slide 7: ALF Resident Characteristics
ALF Resident Characteristics • Age is rising - ~85 years old • ~22 month stay (median) • Financially capable, high acuity Key Reasons for Transitioning to ALF Help with Daily Activities Medication Management 12 - 14 prescriptions daily • Frequent scrip and dose changes 62% • Residents have serious m
Slide 8: Built for the Unique Needs of ALF
ALF SNF Assisted Living Facility Skilled Nursing Facility Care Coordinator Healthcare Professionals for Medicine Resident ability to choose Resident’s choice Facility determines provider pharmacy provider Experienced staff members: on-site medical director, registered nurse Level of staff experience
Slide 9: Strong Competitive Position/High Barriers to Entry
Other Players Independent Pharmacies Institutional Pharmacies • Built for SNF/adapted to ALF • Local service/flexibility • SNF based support & tech • Lack profitability • ALF market emphasis • Centralized/corporate approach • Quality varies • ALF specific clinical support • Consistent brand • ALF fo
Slide 10: Unique and Scalable Model
Unique and Scalable Model: Large # of Local Service Model + Residents Served: Centralized Support (1) 195,000+ Guardian is (1) 52 pharmacies a Market Leader in Strong leaders, Long Tenure ALF (3,000+ employees) Strong Volumes/Scale: (2) ~28 mm scrips ALF Market Leader: (3) 13% market share High Adop
Slide 11: Locations and Market Share
(1) (2) Locations and Market Share 11 states 11 > 20% Market Share 37 pharmacies CA with > 40% Market Share 40% + Market Share with 20%- 40% Market Share 12 pharmacies CA States with Greater than 25% Market Share Locations with >20% market share Market Share Data Not Available All Other Locations AL
Slide 12: The Virtuous Cycle of Scale
Scale drives profitability Reinvestments fuels GREATER SCALE Profitability enables reinvestments The Virtuous Cycle of Scale Scale fuels profitability, profitability fuels scale 12
Slide 13: Pillars of Growth: Organic + Acquisitions
Pillars of Growth Organic + Acquisitions
Slide 14: Organic Growth Drivers
Organic Growth Drivers LAUNCH INCREASE ADOPTION ADD NEW FACILITIES GREENFIELD STARTUPS RATES Multiple Organic Growth Drivers 14
Slide 15: Organic Growth – New Facility Additions
Facilities Served Partners 8000 Partners with best-in-class ALFs 7000 6000 5000 4000 3000 2000 1000 0 2018 2019 2020 2021 2022 2023 2024 Organic Growth – New Facility Additions Leverage existing infrastructure and local expertise 15
Slide 16: Organic Growth – Adoption Rates
National Accounts Secure Corporate Approval National Sales Team Regional & Independent Accounts “Opens the Door” Step 1 Why Guardian? Local Sales Team Gain “Preferred Status” at the Facility Level • Comprehensive Services – 24/7 support, billing optimization, clinical monitoring Step 2 Step 1 • Redu
Slide 17: Organic Growth – Greenfield Start-Ups
Growth seeded by existing residents in contiguous pharmacy market Recent Greenfields (2020-2025) 2025 Seeded by SW Florida Naples 2024 Seeded by Cincinnati Columbus 2024 Seeded by Des Moines/Grand island Omaha 2024 Seeded by Tulsa/Eufaula Oklahoma City 2023 Seeded by Grand Rapids Eastern Michigan 20
Slide 18: Measured and strategic approach to M&A
Guardian’s Priority: • A leader who can develop the local team to manage growth • An operator who seeks to tap into a broader network of knowledge and expertise to improve and grow the business • A collaborative business partner and team player who exercises good judgment Geography: Typical Target S
Slide 19: Case Study - Sample Set of Acquisitions
(1) (1) Combined Revenues Combined Residents $110,000,000 20,000 $90,000,000 10,000 $70,000,000 $50,000,000 0 Year 1 Year 2 Year 3 Year 4 Year 1 Year 2 Year 3 Year 4 The above charts demonstrate the growth in combined revenues and residents served at five pharmacies that were acquired since 2015, an
Slide 20: Acquisition integration process
Year 1 Year 2-3 Year 4+ Launching collaborative Pouring concrete - the foundation Integration integration process Key objectives: Key objectives: Execution • Hiring and strengthening team • Leadership development • Supervisory skills development • Culture project Optimization Key tasks: Key tasks: •
Slide 21: Acquisition & Greenfield Impact
High single digit Pharmacies collectively organic growth operating @ ~breakeven at targeted operating COVID-19 Pandemic margin 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Heartland • • Wichita, KS Eastern • Grand • • Cincinnati, • Minneapolis, • Denver, CO Seattle, WA • Island, NE Michigan OH
Slide 22: Recent Expansion in New Regions
Recent Expansion in New Regions (1) ALF Communities (US) (by region) 9% CA CA 23% 41% CA Recent Expansion in Core 28% Markets Recent Expansions (2025) Northeast Midwest South West 22
Slide 23: Competitive Advantage: Differentiated Technology & Services
Competitive Advantage Differentiated Technology & Services
Slide 24: Data Analytics Reduces Costs, Improves our Margins
Data Analytics Enhances Performance • Rev/scrip • Rev/patient • Gross Margin Analysis • Inventory management Reduces Costs • Optimize purchasing • Monitor labor costs • Evaluate delivery route efficiencies Improved • Track productivity Margin Profile Data Analytics Reduces Costs, Improves our Margin
Slide 25: Client Impact from Services & Technology
Facilities & FINANCIAL CLINICAL Residents OPERATIONAL Client Impact from Services & Technology 25
Slide 26: Smarter Service, Better Care
Clinical Intervention Proactive, pharmacist-led interventions to prevent adverse drug events and reduce hospital readmissions Psychotropic Medication Reduction Oversight to prevent overuse, improve behavioral health, and audits Antibiotic Stewardship Tracks appropriate usage to reduce resistance, al
Slide 27: Smarter Service, Lower Costs
Insurance Optimizer (1) Insurance Optimizer Benefit Assistance with prior authorizations and non-covered drugs, plus Medicare benefit reviews to reduce residents’ drug costs ~79k residents with claims Med Spend Analyzer Contain costs by targeting high-cost medications and drug classes ~410k worked c
Slide 28: Smarter Tech, Better Service
Robotic Fulfillment + eMAR Integration Advanced Ensures accuracy, adherence, and accountability in fulfillment and delivery Robotics Improves accuracy/efficiency Cycle Refill & Reorder Authorizations Prevents missed doses, reduces staff burden Typically < 1 day Time to refill request resolution Secu
Slide 29: Powerful Partner to the Payors & PBMs
What Guardian Does: Benefits to Payors/PBM: Benefits Everyone: Optimizes drug regimen: Receive • Clinical 11 states 11 • Interventions Rebates (Mfr.) • Therapeutic $$$ interchanges • PBM formulary “Win – Win” for all: BETTER Earn Medicare Improves adherence: • 24/7 support/tracking Star Ratings = HE
Slide 30: Financial Performance
Financial Performance Consistent Execution & Results
Slide 31: Consistent Track Record of Growth
$1,228 (1) Revenue ($ mm) Residents served (000’s) Adj. EBITDA ($ mm) $1,046 $909 15.8% Revenue CAGR $792 $736 $698 186 13.7% $600 Residents CAGR 163 151 First full year of $506 operations: 136 128 2004 $425 123 115 Location: Phoenix, AZ 98 $323 $91 Residents 84 $273 $76 served: ~4,000 $236 $66 59 $
Slide 32: Q2 2025 Summary
~60% adj EBITDA to cash flow conversion (1) Resident Growth Revenue Growth Adj. EBITDA Growth $360.0 220 ~ 60% Cash $340.0 Conversion 200 $344.3 $35.0 $320.0 195.3 180 $30.0 $300.0 $300.0 174.1 $25.0 160 $280.0 $25.0 $21.7 $20.0 $260.0 140 $15.0 $240.0 120 $10.0 $220.0 100 $5.0 $200.0 Q2 2024 Q2 202
Slide 33: Demonstrated Durable Margin Profile
Gross margin (1)(3) Adj. SG&A Margin (2)(3) Adj. EBITDA Margin 20.4% 20.4% 20.0% 19.9% 19.9% 15.0% 14.7% 14.7% 14.3% 13.9% 7.4% 7.3% 7.3% 7.2% 7.1% 2020 2021 2022 2023 2024 COVID-19 pandemic Demonstrated Durable Margin Profile (1) Adj. SG&A Margin excludes share-based compensation, certain legal and
Slide 34: Investment summary
1 A leader in a secular-growth market 11 states 11 2 Multi-pronged growth strategy with > 40% Market Share 3 Durable competitive advantages 4 Strong financial performance 5 Experienced, co-founder-led management team NYSE: GRDN 34
Slide 35: Appendix
Appendix Guardian Pharmacy Services 2025 | 35
Slide 36: Guardian's History – Disciplined Execution
Founded Regional Account Business Finance in Mgmt. SCPC Trade Group Planning Pharmacy Strategic PBM Initiative Vaccine Purchasing National Clinics Strategy Account Sales EY – PCAOB Initiative Audit IPO 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 Purchasing Guardian Compass Quarterly
Slide 37: High-Level Workflow: Life of a Prescription
High-Level Workflow: Life of a Prescription Rx Sent to Pharmacy Sent to EMAR Adjudication/ Data Entry + Pharmacy Fulfillment Pre-Authorization Sync Verification (PV1) PV 2 Intra-cycle Medication Change Toting Organization and Distribution at Facility Delivery Refill Retroactive Authorization Billing
Slide 38: Financial Appendix
Financial Appendix
Slide 39: Reconciliation of Adjusted EBITDA and Adjusted SG&A
Reconciliation of Adjusted EBITDA and Adjusted SG&A 39
Slide 40: (1) Prior to the Corporate Reorganization and IPO, our share-based compensation expense primarily represented
(1) Prior to the Corporate Reorganization and IPO, our share-based compensation expense primarily represented non-cash recognition of changes in the value of Restricted Interest Unit awards, which has historically been recorded as a liability using a cash settlement methodology as calculated on a qu
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