Joint Corp Q1 revenue up 27% to $28.5M; net income $2.3M includes $3.9M ERC credits

JOINT Corp

2023-Q1 EPS reported $0.15 revenue$28,450,298

Revenue $28.5M (+27% YoY); system-wide sales $115.4M (+17%); system-wide comp sales +8%.
Operating loss $678K vs loss $176K YoY; net income $2.3M ($0.15 diluted) vs net loss $206K, includes $3.9M ERC.
Adjusted EBITDA $2.0M vs $1.8M; clinic count 870 (740 franchised, 130 co-owned), up 32 from Dec 2022.
2023 guidance reaffirmed: revenue $123-128M, Adj. EBITDA $12.5-14.0M, franchised openings 100-120, co-owned greenfield 8-12.
Opened greenfield clinic at Fort Dix in April; fourth with Army & Air Force Exchange Service.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

JOINT Corp reported the quarter ended March 31, 2023 results: revenue $28.5 million, net income $2.3 million, EPS $0.15 per diluted share. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Revenue: $28.5 million
Net income: $2.3 million
EPS: $0.15 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

franchisor of chiropractic clinics, reported its financial results for the quarter ended March 31, 2023. Financial Highlights: Q1 2023 Compared to Q1 2022 Grew revenue 27% to $28.5 million. Reported operating loss of $678,000, compared to a loss of $176,000. Reported net income of $2.3 million, including $3.9 million of employee retention credits, compared to a net

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Source: SEC EDGAR

accession 0001171843-23-002890

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