The Joint Corp. Reports 2024 Operating Metrics
The Joint Corp. (NASDAQ: JYNT) reported key operating metrics for 2024, showing growth across multiple areas. Patient visits increased to 14.7 million from 13.6 million in 2023, while new patients grew to 957,000 from 932,000. The company achieved 9% system-wide sales growth and maintained 4% comp sales.
The clinic network expanded to 967 total locations, with 842 franchised clinics (up from 800) and 125 company-owned or managed clinics (down from 135). The company sold 46 franchise licenses in 2024, compared to 55 in 2023. In early January 2025, JYNT received letters of intent to refranchise the majority of its corporate clinic portfolio, aligning with its strategy to become a pure-play franchisor.
The company plans to implement price increases, strengthen promotions, launch a mobile app, and enhance digital marketing in the first half of 2025 to drive growth and improve patient retention.
The Joint Corp. (NASDAQ: JYNT) ha riportato i principali indicatori operativi per il 2024, evidenziando una crescita in diverse aree. Le visite dei pazienti sono aumentate a 14,7 milioni rispetto ai 13,6 milioni del 2023, mentre i nuovi pazienti sono saliti a 957.000 da 932.000. La società ha raggiunto un incremento delle vendite a livello di sistema del 9% e ha mantenuto un aumento delle vendite comparabili del 4%.
La rete di cliniche si è ampliata fino a 967 località totali, con 842 cliniche in franchising (in aumento rispetto alle 800) e 125 cliniche di proprietà o gestite (in calo rispetto alle 135). La società ha venduto 46 licenze in franchising nel 2024, rispetto alle 55 del 2023. All'inizio di gennaio 2025, JYNT ha ricevuto lettere di intenti per refranchising della maggior parte del suo portafoglio di cliniche aziendali, in linea con la sua strategia di diventare un franchisor puro.
La società prevede di implementare aumenti di prezzo, rafforzare le promozioni, lanciare un'app mobile e migliorare il marketing digitale nella prima metà del 2025 per stimolare la crescita e migliorare la retention dei pazienti.
The Joint Corp. (NASDAQ: JYNT) reportó métricas operativas clave para 2024, mostrando un crecimiento en múltiples áreas. Las visitas de pacientes aumentaron a 14.7 millones desde 13.6 millones en 2023, mientras que los nuevos pacientes crecieron a 957,000 desde 932,000. La compañía logró un crecimiento del 9% en las ventas a nivel de sistema y mantuvo un crecimiento de ventas comparables del 4%.
La red de clínicas se expandió a 967 ubicaciones totales, con 842 clínicas franquiciadas (aumentando desde 800) y 125 clínicas de propiedad o gestionadas (cayendo desde 135). La compañía vendió 46 licencias de franquicia en 2024, en comparación con 55 en 2023. A principios de enero de 2025, JYNT recibió cartas de intención para refranquiciar la mayoría de su cartera de clínicas corporativas, alineándose con su estrategia de convertirse en un franquiciante puro.
La empresa planea implementar aumentos de precios, fortalecer las promociones, lanzar una aplicación móvil y mejorar el marketing digital en la primera mitad de 2025 para impulsar el crecimiento y mejorar la retención de pacientes.
The Joint Corp. (NASDAQ: JYNT)는 2024년 주요 운영 지표를 보고하며 여러 분야에서 성장세를 보였습니다. 환자 방문 수는 2023년 1360만 건에서 1470만 건으로 증가했으며, 신규 환자는 93만2000명에서 95만7000명으로 증가했습니다. 이 회사는 시스템 전체 매출 성장률 9%를 달성했으며 동일 매장 매출 성장률 4%를 유지했습니다.
클리닉 네트워크는 총 967개 위치로 확장되었으며, 이 중 842개는 프랜차이즈 클리닉(800개에서 증가)이고, 125개는 회사 소유 또는 관리 클리닉(135개에서 감소)입니다. 회사는 2024년 46개 프랜차이즈 라이선스를 판매했으며, 이는 2023년 55개에 비해 감소한 수치입니다. 2025년 1월 초에 JYNT는 대다수의 회사 클리닉 포트폴리오를 리프랜차이즈하기 위한 의향서를 받았으며, 이는 순수 프랜차이저로의 전략과 일치합니다.
회사는 2025년 상반기에 가격 인상, 프로모션 강화, 모바일 앱 출시 및 디지털 마케팅 향상을 통해 성장을 추진하고 환자 유지율을 개선할 계획입니다.
The Joint Corp. (NASDAQ: JYNT) a rapporté des indicateurs opérationnels clés pour 2024, montrant une croissance dans plusieurs domaines. Les visites des patients ont augmenté à 14,7 millions contre 13,6 millions en 2023, tandis que le nombre de nouveaux patients a grimpé à 957 000 contre 932 000. L'entreprise a atteint un croissance des ventes à l'échelle du système de 9% et a maintenu un chiffre d'affaires comparable en hausse de 4%.
Le réseau de cliniques s'est étendu à 967 emplacements au total, avec 842 cliniques franchisées (en hausse par rapport à 800) et 125 cliniques détenues ou gérées par l'entreprise (en baisse par rapport à 135). L'entreprise a vendu 46 licences de franchise en 2024, contre 55 en 2023. Début janvier 2025, JYNT a reçu des lettres d'intention pour franchiser à nouveau la majorité de son portefeuille de cliniques d'entreprise, en accord avec sa stratégie de devenir un franchiseur pur.
L'entreprise prévoit d'implémenter des augmentations de prix, de renforcer les promotions, de lancer une application mobile et d'améliorer le marketing numérique au premier semestre 2025 pour stimuler la croissance et améliorer la fidélisation des patients.
The Joint Corp. (NASDAQ: JYNT) berichtete über wichtige Betriebskennzahlen für 2024 und zeigte ein Wachstum in mehreren Bereichen. Die Patientenkontakte stiegen auf 14,7 Millionen von 13,6 Millionen im Jahr 2023, während die neuen Patienten auf 957.000 von 932.000 zunahmen. Das Unternehmen erreichte ein Wachstum der systemweiten Verkäufe von 9% und hielt ein Wachstum der vergleichbaren Verkäufe von 4% aufrecht.
Das Kliniknetz erweiterte sich auf insgesamt 967 Standorte, darunter 842 Franchise-Kliniken (von 800 gestiegen) und 125 firmeneigene oder verwaltete Kliniken (von 135 gesunken). Das Unternehmen verkaufte 2024 46 Franchise-Lizenzen im Vergleich zu 55 im Jahr 2023. Anfang Januar 2025 erhielt JYNT Absichtserklärungen zur Re-Franchisierung des Großteils seines Unternehmensklinik-Portfolios, was mit der Strategie übereinstimmt, ein reiner Franchise-Geber zu werden.
Das Unternehmen plant, Preissteigerungen umzusetzen, Promotions zu verstärken, eine mobile App einzuführen und das digitale Marketing in der ersten Hälfte von 2025 zu verbessern, um Wachstum zu fördern und die Patientenerhaltung zu verbessern.
- Patient visits increased by 8.1% to 14.7M in 2024
- New patients grew by 2.7% to 957,000
- System-wide sales increased by 9%
- Total clinic count expanded by 32 locations to 967
- Franchised clinics increased by 42 to 842
- Received LOIs for majority of corporate clinic portfolio
- System-wide sales growth declined from 12% in 2023 to 9% in 2024
- Franchise license sales decreased from 55 to 46
- Company-owned clinics reduced from 135 to 125
- 18 clinic closures during the year
Insights
The Joint Corp's 2024 operational metrics reveal a mixed performance with some concerning trends. While the 9% system-wide sales growth shows continued expansion, it represents a notable deceleration from the 12% growth in 2023. The stagnant comp sales at 4% year-over-year suggests saturating market penetration in existing locations.
The decline in franchise license sales from 55 to 46 in 2024 indicates potential franchisee hesitation, possibly due to macroeconomic headwinds. The closure of 18 clinics, including relocations, merits attention as it represents a higher churn rate than typical for the industry. The forthcoming refranchising of corporate clinics signals a strategic pivot to an asset-light model, which should improve capital efficiency but may impact near-term revenues.
The planned price increases and digital initiatives in 2025 are critical moves to combat margin pressure, but their timing during a potentially challenging economic environment requires careful execution. The patient visit growth of 8.1% (from 13.6M to 14.7M) outpacing new patient growth of 2.7% (from 932K to 957K) suggests strong patient retention but slowing new customer acquisition.
The shift toward a pure-play franchisor model through the refranchising initiative marks a pivotal transformation for JYNT's business structure. The receipt of LOIs for the majority of corporate clinics suggests strong interest from potential franchisees, indicating market confidence in the brand's operational model. However, the reduction in total clinic count growth momentum needs monitoring.
The upcoming digital transformation initiatives, particularly the mobile app launch and enhanced digital marketing, align with consumer expectations in the healthcare sector. These investments could help address the deceleration in new patient acquisition, which grew only 2.7% in 2024. The focus on patient experience and retention strategies appears to be working, as evidenced by the 8.1% increase in total patient visits.
The planned price increases will test price elasticity in a market where consumers are increasingly price-sensitive. The success of this strategy will largely depend on the perceived value proposition and the effectiveness of the new digital engagement tools in justifying the higher prices to patients.
- Adjustments Performed in 2024 Grows
- Receives Letters of Intent for the majority of the Corporate Portfolio in Early January 2025 -
SCOTTSDALE, Ariz., Jan. 16, 2025 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), a national operator, manager, and franchisor of chiropractic clinics, provided operating metrics for the year ended 2024.
2024 Full Year Operating Highlights
- Performed 14.7 million patient visits, compared to 13.6 million in 2023.
- Treated 957,000 new patients, compared to 932,000 in 2023.
- Increased system-wide sales1
9% , compared to12% in 2023. - Delivered comp sales2 of
4% on par with4% in 2023. - Sold 46 franchise licenses, compared to 55 in 2023.
- Expanded total clinic count to 967, up from 935 clinics at December 31, 2023.
- Opened 57, refranchised 3, and closed 18 (including 3 relocations) for a total of 842 franchised clinics at December 31, 2024, compared to 800 at December 31, 2023.
- Refranchised 3 and closed 7 (including three non-traditional corporate units on Airforce bases) for a total of 125 company-owned or managed clinics at December 31, 2024, compared to 135 at December 31, 2023.
“Prioritizing the patient experience, our team working alongside franchisees increased patient count, grew comp sales and expanded franchised clinics in 2024, overcoming challenging macroeconomics,” stated Sanjiv Razdan, President and Chief Executive Officer of The Joint Corp. “While completing my first 100-day business immersion, I have spoken to a wide cross-section of stakeholders and gathered valuable data to transform The Joint into a world-class pure-play franchisor in 2025. In early January, in line with our deadline, we received letters of intent (LOIs) to refranchise the majority of the corporate clinic portfolio. We are encouraged by the response and are eager to evaluate the options to ensure we enter into agreements that meet our sales and franchise license criteria. Also, in the first half of the year, we will initiate thoughtful price increases, strengthen our promotions, launch a mobile app and make step-changes to digital marketing to drive new patient count and improve patient retention. On our upcoming conference call, I will review in greater detail our strategic plan to accelerate top-line growth, increase operating leverage and improve profitability.”
Q4 and Year-End 2024 Financial Results Reporting
Management intends to report its fourth quarter and year-end 2024 financial results on Thursday, March 13, 2025, after the market close. President and CEO Sanjiv Razdan and CFO Jake Singleton will hold a conference call at 5:00 p.m. ET that day to discuss the results.
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1 System-wide sales include revenues at all clinics, whether operated or managed by the company or by franchisees. While franchised sales are not recorded as revenues by the company, management believes the information is important in understanding the company’s financial performance, because these revenues are the basis on which the company calculates and records royalty fees and are indicative of the financial health of the franchisee base.
2 System-wide comp sales include the revenues from both company-owned or managed clinics and franchised clinics that in each case have been open at least 13 full months and exclude any clinics that have closed.
Forward-Looking Statements
This press release contains statements about future events and expectations that constitute 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 statements of historical fact. Words such as, "anticipates," "believes," "continues," "estimates," "expects," "goal," "objectives," "intends," "may," "opportunity," "plans," "potential," "near-term," "long-term," "projections," "assumptions," "projects," "guidance," "forecasts," "outlook," "target," "trends," "should," "could," "would," "will," and similar expressions are intended to identify such forward-looking statements. Specific forward looking statements made in this press release include, among others, our plans to transform The Joint into a world-class pure-play franchisor in 2025; our expectation that in the first half of the year, we will initiate thoughtful price increases, strengthen our promotions, launch a mobile app and make step-changes to digital marketing to drive new patient count and improve patient retention; and our strategic plan to accelerate top-line growth, increase operating leverage and improve profitability. Forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the expectations of future results we express or imply in any forward-looking statements, and you should not place undue reliance on such statements. Factors that could contribute to these differences include, but are not limited to, our inability to identify and recruit enough qualified chiropractors and other personnel to staff our clinics, due in part to the nationwide labor shortage and an increase in operating expenses due to measures we may need to take to address such shortage; inflation, which has increased our costs and which could otherwise negatively impact our business; our failure to profitably operate company-owned or managed clinics; our failure to refranchise as planned; short-selling strategies and negative opinions posted on the internet, which could drive down the market price of our common stock and result in class action lawsuits; our failure to remediate future material weaknesses in our internal control over financial reporting, which could negatively impact our ability to accurately report our financial results, prevent fraud, or maintain investor confidence; and other factors described in our filings with the SEC, including in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 8, 2024 and subsequently filed current and quarterly reports. We qualify any forward-looking statements entirely by these cautionary factors. We assume no obligation to update or revise any forward-looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.
About The Joint Corp. (NASDAQ: JYNT)
The Joint Corp. (NASDAQ: JYNT) revolutionized access to chiropractic care when it introduced its retail healthcare business model in 2010. Today, it is the nation's largest operator, manager and franchisor of chiropractic clinics through The Joint Chiropractic network. The company is making quality care convenient and affordable, while eliminating the need for insurance for millions of patients seeking pain relief and ongoing wellness. With over 950 locations nationwide and more than 14 million patient visits annually, The Joint Chiropractic is a key leader in the chiropractic industry. Consistently named to Franchise Times "Top 500+ Franchises" and Entrepreneur's "Franchise 500" lists and recognized by FRANdata with the TopFUND award, as well as Franchise Business Review's "Top Franchise for 2024," "Most Profitable Franchises" and "Top Franchises for Veterans" ranking, The Joint Chiropractic is an innovative force, where healthcare meets retail. For more information, visit www.thejoint.com. To learn about franchise opportunities, visit www.thejointfranchise.com.
Business Structure
The Joint Corp. is a franchisor of clinics and an operator of clinics in certain states. In Arkansas, California, Colorado, District of Columbia, Florida, Illinois, Kansas, Kentucky, Maryland, Michigan, Minnesota, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Tennessee, Washington, and West Virginia, The Joint Corp. and its franchisees provide management services to affiliated professional chiropractic practices.
Media Contact:
Margie Wojciechowski, The Joint Corp., margie.wojciechowski@thejoint.com
Investor Contact:
Kirsten Chapman, Alliance Advisors Investor Relations, 415-433-3777, thejointinvestor@allianceadvisors.com
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