Welcome to our dedicated page for The Joint news (Ticker: JYNT), a resource for investors and traders seeking the latest updates and insights on The Joint stock.
The Joint Corp. (NASDAQ: JYNT) is a pioneering company in the chiropractic care industry, transforming the traditional and often misunderstood concept of routine chiropractic care into an accessible and affordable reality. Founded in 1999 by Dr. Fred Gerretzen, The Joint Corp. has grown into the nation's largest provider of chiropractic care through its extensive network of The Joint Chiropractic® clinics. Headquartered in Scottsdale, Arizona, the company operates over 900 locations across 42 states, serving millions of patients annually.
The company operates through two key segments: Corporate Clinics and Franchise Operations. The Corporate Clinics segment includes company-owned or managed clinics, while the Franchise Operations segment covers franchised clinics. This dual approach allows The Joint Corp. to maintain high standards of care and expand its footprint efficiently.
Our Mission: The Joint Corp. aims to improve the quality of life through routine and affordable chiropractic care, eliminating the need for insurance. Experienced, licensed chiropractors develop personalized treatment plans to relieve pain and provide ongoing preventative care. The company's unique business model emphasizes convenience with no appointments required, no insurance hassles, and extended hours, including evenings and weekends.
Achievements and Recent Developments:
- Expansion: Recently, The Joint Corp. debuted its first location in West Virginia, extending its reach to 42 states. This expansion reflects the company's strategy to grow its presence nationwide through both corporate-owned and franchised clinics.
- Financial Performance: For Q3 2023, The Joint Corp. reported revenue of $29.5 million, a 11.3% increase compared to the same period in 2022. The company continues to execute its strategic plan to refranchise or sell a majority of its company-owned clinics, focusing on high-performing locations to drive profitability.
- Community Engagement: The Joint Chiropractic has partnered with Rachel's Challenge, a nonprofit organization dedicated to preventing school violence, to promote wellness and community well-being.
- Innovative Care: The Joint Chiropractic offers concierge-style services in a retail setting, making chiropractic care accessible to everyone from children to seniors. Special promotions, such as the 'Back Friday' offering during peak seasons, enhance the value provided to patients.
With its retail healthcare business model, The Joint Corp. is consistently recognized on various prestigious lists, including Franchise Times' 'Top 500+ Franchises' and Entrepreneur's 'Franchise 500.' The company's innovative approach continues to revolutionize the chiropractic industry, making quality care both convenient and affordable.
The Joint Corp. (NASDAQ: JYNT) announced the acquisition of regional developer rights for Northern California for $2.4 million, effective April 1, 2022. This acquisition allows oversight of 56 franchised clinics, including 20 operational and 36 in development, plus the opportunity for 19 more clinics. CEO Peter D. Holt stated this move aims to enhance growth and margin contribution in California, signaling strategic expansion potential in the chiropractic care market.
The Joint Corp. (NASDAQ: JYNT) announced the acquisition of the regional developer territory for Northern New Jersey, encompassing four franchised clinics, for $250,000 on March 17, 2022. This strategic move aims to bolster their corporate clinic footprint in the Northeast and aligns with their goal of opening 1,000 clinics by the end of 2023. As of the announcement, they operate 99 clinics, having added three new locations since December 2021.
The Joint Corp. (NASDAQ: JYNT) announced participation in key investor events. The Maxim Group LLC 2022 Virtual Growth Conference will take place from March 28-30, featuring President and CEO Peter D. Holt and CFO Jake Singleton. The event will include a live presentation on March 28, available on demand. Additionally, Holt will participate in the SEC’s 41st Annual Small Business Forum on April 7, focusing on capital raising policy. The Joint is the largest provider of chiropractic care in the U.S., with over 700 locations and nearly 11 million patient visits annually.
The Joint Corp. (NASDAQ: JYNT), the largest provider of chiropractic care in the U.S., announced management's upcoming presentations at key conferences in March 2022. The schedule includes:
- March 10: D.A. Davidson 5th Annual Consumer Growth Conference at 1:15 PM PT / 4:15 PM ET (Virtual format).
- March 14-15: 34th Annual Roth Conference (In-person 1x1 meetings).
Presentation materials will be available on their Investor Relations website. The company continues to lead with over 700 locations and nearly 11 million patient visits annually.
The Joint Corp. (NASDAQ: JYNT) reported robust financial results for 2021, with revenue growth of 38% year-over-year, totaling $81.2 million. System-wide sales increased 39% to $361.1 million, driven by 706 clinics in operation by year-end. Quarterly results for Q4 2021 showed revenue rise to $22.4 million, a 32% increase from Q4 2020. However, net income dipped to $224,000 from $10.6 million a year prior. Looking ahead, the company anticipates 2022 revenue between $102 million and $106 million, indicating continued growth potential.
The Joint Corp. (NASDAQ: JYNT) reported significant growth in its 2021 financial results, with revenue increasing 38% to $81.2 million and system-wide sales up 39% to $361.1 million compared to 2020. The company achieved a net income of $7.2 million, though this reflects a decrease from $13.2 million in 2020. Operating income rose to $6.0 million from $5.5 million, while Adjusted EBITDA improved to $13.3 million. The company opened 130 new clinics and aims to reach 1,000 locations by the end of 2023.
On February 14, 2022, The Joint Corp. (NASDAQ: JYNT) announced the upcoming release of its fourth quarter and year-end 2021 financial results. The report will be available on February 24, 2022, after market close. Following the release, President and CEO Peter D. Holt, along with CFO Jake Singleton, will host a conference call at 5:00 p.m. ET to discuss the results. Participants can access the live call by dialing (765) 507-2604 or (844) 464-3931, using code 3285473.
For further details, visit the company's investor relations webpage.
The Joint Corp. (NASDAQ: JYNT) continues to excel in the chiropractic care market, earning accolades from top publications like Entrepreneur and Franchise Times. Recognized for outstanding growth and brand strength, The Joint ranks 57th in Entrepreneur's Franchise 500, jumps to 8th on Franchise Times' Fast & Serious list, and is acknowledged as a top multi-unit franchise. The company is targeting 1,000 operational units by 2023, emphasizing accessible and affordable chiropractic care through its innovative retail healthcare model.
The Joint Corp. (NASDAQ: JYNT), a leader in chiropractic care, has entered a five-year sponsorship agreement with University of Nevada Athletics, becoming their official chiropractic partner through June 2026. This partnership aims to support student-athletes and enhance their wellness with chiropractic services. The Joint operates over 700 clinics nationwide, providing affordable and convenient care without insurance hassles. The company has received recognition from Forbes and Fortune as a leading franchise in its industry.
The Joint Corp. (NASDAQ: JYNT) has appointed Charles Nelles as Chief Technology Officer, a new role aimed at enhancing technology innovation. Nelles, with over 20 years of experience in healthcare and financial services, will report to Peter D. Holt, President and CEO. This move follows the successful launch of a new CRM platform, intended to unlock data potential and drive growth opportunities. Nelles' expertise is expected to strengthen The Joint's leadership as it aims to expand access to affordable chiropractic care across the nation.
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