The Joint (JYNT) - 2025 Q3 - Quarterly Results

Revenue and Sales Performance - Revenue increased 6% to $13.4 million compared to Q3 2024, up from $12.7 million[7] - System-wide sales reported at $127.3 million, a decline of 1.5% year-over-year[5] - Comp sales decreased by 2.0%[5] - Total revenues for the three months ended September 30, 2025, increased to $13,380,685, up 5.7% from $12,654,396 in the same period of 2024[28] - System-wide sales guidance for 2025 updated to range from $530 million to $534 million[19] - Comp sales guidance for 2025 revised to a range of (1)% to 0%[19] Net Income and Profitability - Net income improved to $855,000 from a net loss of $3.2 million in Q3 2024[9] - Net income for the nine months ended September 30, 2025, was $1,916,168, compared to a net loss of $5,814,558 for the same period in 2024[30] - Net income for Q3 2025 was $290,370, a decrease from $564,639 in Q3 2024, reflecting a significant decline in profitability[33] - For the nine months ended September 30, 2025, the net loss was $(1,205,286), an improvement from a net loss of $(2,523,325) in the same period of 2024[33] Cash and Liquidity - Unrestricted cash was $29.7 million as of September 30, 2025, compared to $25.1 million at the end of 2024[11] - Cash and cash equivalents increased to $29,699,953 as of September 30, 2025, from $25,051,355 as of December 31, 2024, representing a growth of 10.6%[26] Expenses and Costs - Adjusted EBITDA increased 36% to $3.3 million from $2.4 million in Q3 2024[10] - Adjusted EBITDA for Q3 2025 was $1,408,903, compared to $1,893,201 in Q3 2024, indicating a decrease of approximately 25.5% year-over-year[33] - For the nine months ended September 30, 2025, adjusted EBITDA was $1,543,346, a decrease from $9,396,285 in the same period of 2024, reflecting operational challenges[33] - Restructuring costs for Q3 2025 amounted to $355,042, compared to a credit of $(25,000) in Q3 2024, highlighting increased restructuring efforts[33] - Litigation expenses for Q3 2025 were $100,000, while in Q3 2024, they were $250,000, showing a reduction in legal costs[33] - The company reported net interest expense of $(253,277) in Q3 2025, compared to $(83,828) in Q3 2024, indicating a rise in interest costs[33] - Depreciation and amortization expense for Q3 2025 was $446,736, up from $345,835 in Q3 2024, reflecting increased asset depreciation[33] - Costs related to restatement filings were $113,477 in Q3 2025, with no such costs reported in Q3 2024, indicating ongoing financial adjustments[33] - The company recorded a net loss on disposition or impairment of $860,598 in Q3 2025, compared to $3,581 in Q3 2024, suggesting significant asset write-downs[33] Assets and Liabilities - Total current liabilities decreased to $33,048,677 as of September 30, 2025, down from $49,042,087 as of December 31, 2024, a reduction of 32.6%[26] - Total assets decreased to $69,385,481 as of September 30, 2025, from $83,154,408 as of December 31, 2024[26] Franchise and Clinic Operations - Franchise fees for the three months ended September 30, 2025, rose to $964,796, a 38.3% increase from $697,688 in the same period of 2024[28] - New clinic openings guidance remains at 30 to 35 for 2025[19] - The company has authorized an additional $12 million for its stock repurchase program[7]