발화자 미상
Operator: Hello, everyone. Thank you for joining us, and welcome to Guardian Pharmacy's Second Quarter 2026 Earnings Call. [Operator Instructions] I will now hand the call over to Ashley Stockton, Investor Relations. Please go ahead.
Ashley Stockton: Good afternoon. Thank you for participating in today's conference call. This is Ashley Stockton, Vice President, Investor Relations for Guardian Pharmacy Services. I'm joined on today's call by Fred Burke, President and Chief Executive Officer; David Morris, Chief Operating Officer; and Will Mudd, Chief Financial Officer. After the close today, Guardian posted its financial results for the quarter ended June 30, 2026. A copy of the press release is available on the company's Investor Relations website. Please note that today's discussion will include certain forward-looking statements that reflect our current assumptions and expectations, including those related to our future financial performance and industry and market conditions. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from our expectations. We encourage you to review the information in today's press release and quarterly report on Form 10-Q as well as the specific risk factors and uncertainties discussed in our annual report on Form 10-K. We do not undertake any duty to update any forward-looking statements, which speak only as of the date they are made. On today's call, we also will use certain non-GAAP financial measures when discussing the company's financial performance and condition. You can find additional information on these non-GAAP measures and reconciliations to their most directly comparable GAAP financial measures in today's press release, which again is available on our Investor Relations website. And now I will turn it over to Fred for high-level commentary.
Fred Burke: Thank you, Ashley, and good afternoon, everyone. We appreciate you joining us today to review Guardian's second quarter results. But before David and Will review the second quarter in detail, I would like to begin with some perspective on our performance through the first half of 2026 and our outlook for the remainder of the year. Guardian continues to execute well, supported by solid fundamentals across our local markets and meaningful progress against our strategic priorities, including continued geographic expansion. Through the first half of 2026, reported revenue grew 2%. Absent the IRA pricing reductions, revenue would have increased low double digits, a clearer indication of the underlying growth of the business. Importantly, we have successfully mitigated the profitability impact of the changing reimbursement environment under the IRA through disciplined execution across the business, enabling us to generate adjusted EBITDA growth of 23% during the first half of 2026 compared with the first half of 2025. Based on our year-to-date …
