Q3 2025 Financial Results As of September 30, 2025, reported on November 6, 2025 NASDAQ: JYNT | © 2025 The Joint Corp. All Rights Reserved. 1 Safe Harbor Statements Certain statements contained in this presentation are "forward-looking statements." Forward-looking statements are based on our beliefs, assumptions and expectations of industry trends, our future financial and operating performance and our growth plans, taking into account the information currently available to us. These statements are not stat ...

- Grew Revenue 6%, Compared to Third Quarter 2024 - - Board Authorizes an Additional $12 Million for Share Repurchases - SCOTTSDALE, Ariz., Nov. 06, 2025 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), a national operator, manager, and franchisor of chiropractic clinics, posted operating highlights and limited financial information for the third quarter ended September 30, 2025. The following figures represent continuing operations unless otherwise stated. Third Quarter 2025 Financial Highlights Grew ...

Financial Performance - The Joint Corp's Q2 2025 consolidated Adjusted EBITDA increased by 52% compared to Q2 2024[30, 34] - Q2 2025 comp sales increased by 14%[30] - Q2 2025 system-wide sales increased by 26%[30] - The company reported revenue of $133 million for the three months ended June 30, 2025, a 5% increase compared to $126 million for the same period in 2024[34] - Net loss from continuing operations decreased by 42%, from $17 million in Q2 2024 to $10 million in Q2 2025[34] - Consolidated net income was $01 million, a significant improvement from a net loss of $36 million in the same period last year[34] Clinic Network - Franchised clinics now represent 92% of the company's portfolio[32] - The company refranchised 37 clinics[15] - Total clinics open increased from 842 in 2024 to 885 in Q2 2025[33] 2025 Guidance - System-wide sales are projected to be between $530 million and $550 million[40] - Consolidated Adjusted EBITDA is expected to be between $108 million and $118 million[40] - The company anticipates opening 30 to 35 new franchised clinics, excluding the impact of refranchised clinics[40] Liquidity - The company's unrestricted cash balance as of June 30, 2025, was $298 million[36] - The company has access to a $20 million line of credit with JP Morgan Chase, available through February 2027[36, 38]

Core Insights - The Joint Corp. is transitioning to a pure play franchisor model, with 92% of its clinics now franchised, and has acquired rights to the Northwest regional developer territory [4][6]. Financial Highlights - Revenue for Q2 2025 increased by 5% to $13.3 million compared to $12.6 million in Q2 2024 [6][8]. - System-wide sales rose by 2.6% to $129.6 million, with comparable sales reporting a growth of 1.4% [8]. - Consolidated net income was $93,000, a significant improvement from a net loss of $3.6 million in Q2 2024 [8][9]. - Adjusted EBITDA for consolidated operations increased by 52% to $3.2 million, while Adjusted EBITDA from continuing operations improved to $88,000 from a loss of $380,000 in Q2 2024 [8][9]. Operating Highlights - The company refranchised 37 clinics for $11.2 million and sold 13 franchise licenses in Q2 2025, compared to seven sold in Q2 2024 [8]. - The clinic count reached 967 as of June 30, 2025, with 885 franchised and 82 corporate clinics [8]. Cost Management - Selling and marketing expenses increased by 1% to $3.5 million, driven by digital marketing transformation efforts [7]. - General and administrative expenses decreased by 1% to $7.7 million due to cost reduction efforts related to refranchising [7]. Balance Sheet and Cash Flow - Unrestricted cash was $29.8 million at June 30, 2025, up from $25.1 million at the end of 2024 [10]. 2025 Guidance - The company revised its guidance for system-wide sales to range from $530 million to $550 million, down from $550 million to $570 million [16]. - Expected comp sales for clinics open 13 months or more are now projected to be in the low-single digit range [16]. - Consolidated Adjusted EBITDA guidance has been increased to a range of $10.8 million to $11.8 million [16].

Summary of The Joint Corp (JYNT) FY Conference Call Company Overview - **Company Name**: The Joint Corp (operating as The Joint Chiropractic) - **Established**: 1999 - **Business Model**: National chain of chiropractic clinics with a focus on affordable, routine chiropractic care - **Number of Clinics**: Approximately 1,000 clinics across 41 states in the U.S. [5][6] - **Unique Proposition**: No appointment necessary, open weekends and evenings, portable treatment plans, and a cash-based self-pay model [6][8] Financial Highlights - **Revenue Model**: 85% of revenue from membership plans, with a cost per adjustment lower than typical co-pays [8] - **Market Size**: The chiropractic care market in the U.S. is over $20 billion, with The Joint operating in the self-pay segment valued at approximately $8.5 billion [9] - **Franchise Model**: Clinics can be opened for $200,000 to $250,000, with average clinic volumes around $600,000 [10] Strategic Shift to Franchise Model - **Transition**: The company is moving to a fully franchised model, selling 25 corporate clinics to franchise operators [14][15] - **Rationale**: Franchise operators are expected to manage clinics more effectively and bring in fresh capital, while the company can restructure overhead for improved profitability [15][17] - **Expected Outcomes**: Anticipated emergence as a more profitable company by 2026, with a focus on reducing general and administrative costs [20][21] Growth Prospects - **Unit Growth Potential**: Current estimate of 1,950 clinics in the U.S., indicating significant growth potential [26] - **Franchisee Profile**: 90% of franchisees operate multiple clinics, with 30% being chiropractors and 70% entrepreneurs [22][23] Revenue Growth Strategies - **New Patient Acquisition**: Shift in marketing focus to pain-centric messaging, increased brand awareness, and search engine optimization [30][32] - **Lifetime Value Extension**: Launch of a mobile app to enhance patient engagement and retention [34] - **Dynamic Pricing Strategy**: Introduction of incremental pricing adjustments to offset inflation and improve clinic-level margins [35][42] Market Dynamics and Consumer Behavior - **Chiropractor Supply**: Annual output from chiropractic schools is stable at approximately 10,600 to 11,300 graduates, not limiting growth [37] - **Consumer Trends**: Increased acceptance of chiropractic care, with nearly 1 million new patients in the last year, including 350,000 new to chiropractic [52][53] - **Impact of Economic Conditions**: Short-term softening in new patient acquisition due to consumer market uncertainty, but existing patient retention remains stable [54][55] Financial Position and Capital Allocation - **Current Financials**: $22 million in cash with no debt, indicating a strong balance sheet [61] - **Stock Repurchase Program**: Announcement of a $5 million stock repurchase program to return value to shareholders [62] Conclusion - The Joint Corp is strategically positioning itself for growth through a franchise model, focusing on enhancing profitability, expanding clinic numbers, and adapting to market dynamics while maintaining a strong financial position.

Core Viewpoint - The Joint Corp. has announced a stock repurchase program of up to $5 million, reflecting the board's confidence in the company's long-term strategy and projected cash flow generation [1][2]. Company Overview - The Joint Corp. is the largest provider of chiropractic care in the U.S. through The Joint Chiropractic network, with over 950 locations and more than 14 million patient visits annually [3]. - The company operates a retail healthcare business model that eliminates the need for insurance, making chiropractic care more accessible and affordable [3]. - The Joint Corp. has received multiple accolades, including being named "No. 1 in Chiropractic Services" by Entrepreneur and consistently ranking in Franchise Times' annual lists [3]. Business Structure - The Joint Corp. functions as both a franchisor and operator of clinics in various states, providing management services to affiliated chiropractic practices [4]. Stock Repurchase Program Details - The stock repurchase program is set to begin in August 2025 and will have a termination date of June 3, 2027. The program allows for repurchases through various means, subject to market conditions [2]. - The finance committee of the board will determine the timing, number, and amount of repurchases at its discretion [2].

Financial Data and Key Metrics Changes - System wide sales for Q1 2025 were $132.6 million, up 5% compared to Q1 2024, indicating resilience in the current economic environment [10] - Revenue from continuing operations increased by 7% to $13.1 million from $12.2 million in Q1 2024 [27] - Adjusted EBITDA from continuing operations was $46,000, a significant decrease from $425,000 in Q1 2024 [10][29] - Net loss from continuing operations was $506,000, compared to a loss of $399,000 in Q1 2024 [29] Business Line Data and Key Metrics Changes - Comp sales for all clinics open for at least 13 months were up 3% for Q1 2025 and increased to 4% in March 2025 [10][23] - Comp sales for mature clinics (open for at least 48 months) were down 2% [23] - The company refranchised two corporate clinics and opened five franchise clinics during Q1 2025, with a total of 969 clinics, of which 847 (87%) are franchise clinics [25] Market Data and Key Metrics Changes - The company is experiencing a dynamic consumer environment, with consumer sentiment affecting new patient volumes [11][43] - The company anticipates system wide sales for 2025 to be between $550 million and $570 million, compared to $530.3 million in 2024 [31] Company Strategy and Development Direction - The company aims to become a pure play franchisor, with 93% of corporate clinics under Letters of Intent (LOIs) for refranchising [12][49] - The focus is on strengthening core operations, reigniting growth, and improving profitability through dynamic revenue management and enhanced digital marketing strategies [12][18] - The company plans to launch a new marketing campaign centered around pain relief in the second half of the year [36] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the impact of economic headwinds, inflation, and consumer sentiment on operations but remains optimistic about transitioning to a franchise model [33] - The company expects to see a transformative financial impact as corporate clinics transition to franchise royalties and fees, leading to increased profitability [33] Other Important Information - The company has welcomed new executives to enhance legal strategy and patient experience [39] - The Joint has been recognized as one of the fastest-growing franchises and ranked 37th in the Franchise 500 by Entrepreneur Magazine [40] Q&A Session Summary Question: New patient ad metrics and retention trends - Management noted that new patient volumes have been affected by consumer sentiment, but retention rates remain stable [42][44] Question: Metrics on profitability and overhead reduction - Management is not ready to provide specific metrics but expects profitability to improve as G&A expenses are reduced [45][47] Question: Timeline for refranchising process completion - Management intends to exit 2025 as a pure play franchisor and hopes to accelerate the refranchising process [49] Question: Comp sales performance and strategies for mature clinics - Comp sales for mature clinics have been consistent, and operational strategies will be geared towards strengthening these clinics [80][81] Question: Dynamic pricing impact - Management is exploring various pricing models and anticipates that pricing adjustments could significantly impact total system wide sales [60][62] Question: Selling and marketing expenses normalization - Management expects selling and marketing expenses to normalize by Q3 2025 as the transition to a single marketing agency is completed [66] Question: Cost of the franchisee spring convention - The cost of the convention was lower than previous years, impacting the sales and marketing line [75][76]

Financial Performance - Q1 2025 - Revenue from continuing operations increased by 7% to $131 million compared to $122 million in Q1 2024[33] - Cost of revenue increased by 10% to $30 million [33] - Sales and marketing expenses increased significantly by 57% to $35 million [33] - System-wide sales increased by 5% in Q1 2025 [29] - Comp sales increased by 3% in Q1 2025 [29] - Net loss from continuing operations was $(05) million [33] - Consolidated Adjusted EBITDA was $29 million [33] Liquidity and Cash Flow - Unrestricted cash was $219 million as of March 31 2025 [35] - The company has access to a $20 million line of credit through February 2027 [35, 37] - $37 million was used in operations during the quarter [38] 2025 Guidance - The company reiterates its 2025 guidance for system-wide sales between $550 million and $570 million [39] - The company anticipates mid-single-digit comp sales growth for clinics open 13 months or more [39] - Consolidated Adjusted EBITDA is expected to be between $100 million and $115 million [39]

Financial Performance - Q4 2024 system-wide sales increased by 9%, up from 8% in Q3 2024[13] - Q4 2024 comp sales increased by 6%, up from 4% in Q3 2024[13] - Q4 2024 revenue from continuing operations increased by 14%, up from 10% in Q3 2024[13] - 2024 revenue from continuing operations was $51.9 million, a 10% increase compared to $47.0 million in 2023[35] Operational Metrics - The Joint Corp treated 1.9 million unique patients in 2024, up from 1.7 million in 2023[25] - The Joint Corp had 957,000 new patients in 2024, compared to 932,000 in 2023[25] - There were 14.7 million adjustments in 2024, up from 13.6 million in 2023[25] - 36% of new patients in 2024 were new to chiropractic[25] - 85% of system-wide gross sales in 2024 were from monthly memberships, consistent with 2023[25] 2025 Guidance - The Joint Corp projects system-wide sales between $550 million and $570 million for 2025[36] - The Joint Corp anticipates mid-single-digit system-wide comp sales growth for clinics open 13 months or more in 2025[36] - The Joint Corp estimates consolidated Adjusted EBITDA between $10.0 million and $11.5 million for 2025[36]