Financial Highlights: Q1 2024 Compared to Q1 2023 "With the vision to be the Champions of Chiropractic, we began 2024 focused on increasing new patient counts, improving existing patient engagement and refranchising the vast majority of our corporate portfolio, and we are making solid progress," said Peter D. Holt, President and Chief Executive Officer of The Joint Corp. "In the first quarter, we grew revenue and improved bottom-line year-over-year. In addition, we tripled franchise license sales compared t ...

SCOTTSDALE, Ariz., April 18, 2024 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ:JYNT), the nation's largest provider of chiropractic care through The Joint Chiropractic® network, announced it will report its first quarter 2024 financial results on Thursday, May 2, 2024, after the market close. President and CEO Peter D. Holt and CFO Jake Singleton will hold a conference call at 5:00 p.m. EDT that day to discuss the results. Shareholders and interested participants may listen to a live broadcast of the confe ...

SCOTTSDALE, Ariz., April 18, 2024 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), the nation's largest provider of chiropractic care through The Joint Chiropractic® network, announced it will report its first quarter 2024 financial results on Thursday, May 2, 2024, after the market close. President and CEO Peter D. Holt and CFO Jake Singleton will hold a conference call at 5:00 p.m. EDT that day to discuss the results. Shareholders and interested participants may listen to a live broadcast of the conf ...

DENVER, April 17, 2024 /PRNewswire/ -- The Joint Chiropractic, the nation's largest provider of chiropractic care through The Joint Chiropractic® network, is proud to announce a year-long sponsorship of Rachel's Challenge, a non-profit organization for school violence prevention. The Joint is honored to be joining Rachel's Challenge in its vision to create schools full of hope, free from harassment, violence, and self-harm, where teachers are free to teach and students are inspired to learn. "We are proud t ...

"Logan University is thrilled to offer its Doctor of Chiropractic students a new scholarship opportunity, with the help from The Joint Corp.," said Clay McDonald, DC, MBA, JD, Logan University president. "We are tremendously grateful for the dedicated support of The Joint Corp. as we partner on this important effort to provide financial resources to deserving students." This annual scholarship is the largest gift The Joint Corp. has made to any nonprofit. The fundamental purpose of an endowed scholarship is ...

Krischelle Tennessen appointed Chief Human Resources Officer Michael Simpson joins the Company as the new Chief Information Officer WEST JORDAN, Utah, March 19, 2024 (GLOBE NEWSWIRE) -- Sportsman's Warehouse Holdings, Inc. ("Sportsman's Warehouse" or the "Company") (NASDAQ:SPWH) announced today that it has named Krischelle Tennessen as Chief Human Resources Officer and Michael Simpson as Chief Information Officer. "These key strategic hires are significant additions to the organization as we continue to bui ...

The Joint Corp. (JYNT) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Since a ...

The Joint Corp. (JYNT) shares soared 10.1% in the last trading session to close at $13.08. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.9% gain over the past four weeks.The Joint extended its rally for the second straight day, following the strong fourth-quarter 2023 results released on Mar 7. It reported an adjusted earnings per share of 7 cents, which outpaced the Zacks Consensus Estimate of 3 cents. The top line beat the ...

The Joint Corp. (JYNT) shares have jumped 30% since it reported fourth-quarter 2023 financial results. The strong quarterly results were primarily due to continued organic growth and an increased number of clinics, partially offset by higher expenses.In the quarter under review, it witnessed an adjusted earnings per share of 7 cents, beating the Zacks Consensus Estimate of 3 cents. The bottom line also improved from adjusted earnings of 4 cents per share a year ago.Revenues of The Joint amounted to $30.6 mi ...

Financial Data and Key Metrics Changes - Revenue increased by 16% compared to 2022, reaching $30.6 million in Q4 2023, up $2.9 million or 11% year-over-year [8][44] - Adjusted EBITDA for 2023 was $12.2 million, up 6% from the previous year [8][76] - The company reported a net loss of $11.0 million or $0.75 per share for Q4 2023, compared to a net income of $763,000 or $0.05 per diluted share in Q4 2022 [20][76] - Unrestricted cash at December 31, 2023, was $18.2 million, compared to $9.7 million at the end of 2022 [8][48] Business Line Data and Key Metrics Changes - System-wide sales for all clinics increased by 12% to $488 million in 2023, with same-store sales for clinics open 13 months or more increasing by 4% [34][21] - The company opened 114 clinics in 2023, consisting of 104 franchise and 10 greenfield clinics, compared to 137 clinics opened in 2022 [35] - Monthly memberships contributed 85% of system-wide gross sales, up from 84% in 2022 [7] Market Data and Key Metrics Changes - System-wide sales for all clinics opened for any amount of time in Q4 2023 increased to $133.1 million, up 11% [44] - System-wide comp sales for all clinics open 13 months increased by 5% in Q4 2023 [44] - System-wide comp sales for mature clinics open 48 months or more decreased by 1% [21][44] Company Strategy and Development Direction - The company is focusing on a refranchising strategy to shift the clinic portfolio mix, with an expectation that the majority of corporate clinics will be refranchised [10][39] - Marketing efforts are being enhanced to drive new patient counts and improve existing patient engagement, with a focus on local store marketing [14][42] - The company aims to improve unit economics and increase productivity at both the clinic and corporate levels [52] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about seeing a turn in new patient counts in early 2024, indicating potential improvement in patient engagement [58] - The company acknowledged challenges in attracting new patients and emphasized the importance of retaining existing patients [62] - Management expects to see significant reductions in general and administrative expenses as the refranchising strategy progresses [78] Other Important Information - The company recorded a non-cash valuation allowance of $10.8 million against deferred tax assets due to uncertainties related to refranchising transactions [46] - The Joint was recognized as the number one franchise in chiropractic services by Entrepreneur Magazine [81] Q&A Session Summary Question: Can you provide insight into the refranchising process and interest levels? - Management clarified that broadening the scope of potential buyers is not due to lower interest but to ensure clinics are placed in capable hands [55][82] Question: What are the expectations for same-store sales growth moving forward? - Management noted that same-store sales for mature clinics have seen a slight decline, emphasizing the need for renewed marketing efforts [60][62] Question: How many new franchise licenses are expected to be sold this year? - Management refrained from providing specific guidance but noted that economic conditions have impacted franchise sales [66][68] Question: What are the plans for employee retention in light of industry challenges? - Management highlighted efforts to create an attractive work environment for doctors and maintain strong recruitment channels [100] Question: What is the expected portfolio mix after the refranchising initiative? - Management indicated that the majority of corporate clinics will be refranchised, significantly reducing the percentage of company-owned clinics [102]