JOINT Corp

Listed Company

JYNTCIK 0001612630NasdaqNon-AcceleratedSmaller ReportingPatent Owners & LessorsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$2.91M

Total Assets

$60.97M

Equity

$15.05M

Shares Out

14.11M

Op. Cash Flow

$1.84M

Business

JOINT Corp is a franchisor and operator of consumer-focused chiropractic clinics that delivers routine, cash-based spinal manipulation and wellness services using an appointment-free, retail clinic model. Its services include convenient open-bay chiropractic adjustments administered by licensed chiropractors, customizable single-visit, package and membership wellness plans, and related patient intake and records systems, without insurance billing. The company operates through franchised and company-owned or managed clinic segments and a regional developer network that supports franchise sales, training and royalties. It distributes services across retail locations in multiple U.S. states and the District of Columbia, accepting cash and major credit cards.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	55	52	47	101	81
Total cost of revenues	11	12	10	9	9
Selling and marketing expenses	13	11	9	14	11
Depreciation and amortization	2	1	1	7	6
General and administrative expenses	30	30	26	70	49
Total selling, general and administrative expenses	45	42	36	91	67
Net loss on disposition or impairment	7,898	66,019	−20,894	410,215	26,789
Loss from continuing operations	−913,376	−2	318,299	828,254	5
Other income, net	683,872	280,287	64,293	−133,101	−69,878
Loss from continuing operations before income tax expense	−229,504	−2	254,006	695,153	5
Income tax expense	38,653	5,606	11	68,448	−1
Net loss from continuing operations	−268,157	−2	−11	—	—
Income (loss) from discontinued operations before income tax expense	3	−4	1	—	—
Income tax expense from discontinued operations	25,207	210,263	367,542	—	—
Net income (loss) from discontinued operations	3	−4	1	—	—
Net income (loss)	3	−6	−10	626,705	7
Basic (in dollars per share)	−0.02	−0.11	−0.73	—	—
Diluted (in dollars per share)	−0.02	−0.11	−0.72	—	—
Basic (in dollars per share)	0.21	−0.28	0.07	—	—
Diluted (in dollars per share)	0.21	−0.28	0.07	—	—
Net income (loss) per common share, basic (in dollars per share)	0.19	−0.39	−0.66	0.04	0.46
Net income (loss) per common share, diluted (in dollars per share)	0.19	−0.38	−0.65	0.04	0.44
Basic weighted average shares outstanding (in shares)	15	15	15	14	14
Diluted weighted average shares outstanding (in shares)	15	15	15	15	15

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	24	25	18	10	20
Restricted cash	700,058	945,081	1	805,351	386,219
Accounts receivable, net	3	3	3	2	4
Deferred franchise and regional development costs, current portion	945,933	1	1	1	994,587
Prepaid expenses and other current assets	2	2	2	2	2
Discontinued operations current assets ($1.0 million and $1.1 million attributable to VIEs, respectively)	22	43	20	—	—
Total current assets	52	75	44	18	27
Property and equipment, net	3	3	4	—	—
Operating lease right-of-use asset	2	555,536	466,268	21	18
Deferred franchise and regional development costs, net of current portion	4	5	5	6	6
Deposits and other assets	319,460	300,779	254,299	756,386	567,202
Total assets	61	83	87	93	85
Accounts payable	2	2	1	3	2
Accrued expenses	2	2	1	1	2
Co-op funds liability	700,058	945,082	1	805,351	386,219
Payroll liabilities	4	4	858,862	2	4
Operating lease liability, current portion	194,179	483,337	412,601	5	5
Deferred franchise fee revenue, current portion	3	3	3	2	3
Upfront regional developer fees, current portion	277,394	288,095	362,326	487,250	—
Other current liabilities	611,231	603,250	483,249	597,294	539,500
Discontinued operations current liabilities ($6.1 million and $7.1 million attributable to VIEs, respectively)	21	37	25	0	—
Total current liabilities	33	49	34	23	21
Operating lease liability, net of current portion	2	311,689	448,308	19	17
Deferred franchise fee revenue, net of current portion	11	12	14	14	15
Upfront regional developer fees, net of current portion	355,556	672,334	1	2	—
Total liabilities	46	62	62	61	56
Commitments and contingencies (Note 10)	—	—	—	—	—
Series A preferred stock, $0.001 par value; 50,000 shares authorized, zero issued and outstanding, respectively	0	0	0	0	0
Common stock, $0.001 par value; 20,000,000 shares authorized, 15,471,715 shares issued and 14,142,626 shares outstanding and 15,192,893 shares issued and 15,159,878 shares outstanding, respectively	15,471	15,192	14,783	14,560	14,450
Additional paid-in capital	52	49	47	46	44
Treasury stock 1,329,089 shares and 33,015 shares, at cost, respectively	−12	−870,058	−860,475	−856,642	−850,838
Accumulated deficit	−25	−28	−22	−12	−14
Total The Joint Corp. stockholders equity	15	21	25	33	30
Non-controlling Interest	25,000	25,000	25,000	25,000	25,000
Total equity	15	21	25	33	30
Total liabilities and stockholders equity	61	83	87	93	85

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	2	5	9	7	6
Net loss on disposition or impairment	5	8	3	—	—
Net franchise fees recognized upon termination of franchise agreements	−347,097	−239,335	−217,827	−68,537	−133,007
Deferred income taxes	93,066	−55,556	11	−441,353	—
Provision for credit losses	286,232	220,893	0	—	—
Stock-based compensation expense	1	2	2	1	1
Accounts receivable	2	−2	192,348	−154,672	−2
Prepaid expenses and other current assets	−35,389	101,167	−341,478	183,406	−715,740
Deferred franchise costs	547,192	499,285	355,952	−351,151	−1
Deposits and other assets	−5,276	8,827	1,492	−189,184	−148,516
Accounts payable	−391,127	68,258	−1	818,265	−14,373
Accrued expenses	−3	5	793,679	−1	886,738
Payroll liabilities	−839,892	2	1	−2	1
Operating leases	−5	−4	−107,735	—	—
Deferred revenue	−1	−597,489	301,095	3	4
Upfront regional developer fees	−285,443	−421,213	−598,778	−1	—
Other liabilities	−543,663	−121,408	128,647	900,151	1
Net cash provided by operating activities	2	9	15	8	15
Proceeds from sale of clinics	8	554,100	0	105,200	0
Purchase of property and equipment	−2	−1	−5	−6	−7
Net cash provided by (used in) investing activities	6	−631,547	−6	−18	−14
Payments of finance lease obligations	−4,354	−25,484	−24,432	−49,855	−80,322
Purchases of treasury stock under employee stock plans	−8,440	−9,583	—	—	—
Purchases of common stock under stock repurchase programs	−11	0	−3,833	−5,804	−707,727
Proceeds from exercise of stock options	2	33,708	202,386	384,269	2
Repayment of Debt under the Credit Agreement	0	−2	0	0	−3
Net cash used in financing activities	−10	−2	174,121	328,610	−2
(Decrease) increase in cash, cash equivalents and restricted cash	−2	7	9	−9	−907,291
Interest	50,694	69,445	173,062	—	—
Income taxes	626,752	610,492	569,765	—	—
Unpaid purchases of property and equipment	245,250	124,699	140,055	—	—
Stock option exercise receivable	0	896,766	0	—	—

Filings

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