Joint Corp. Q2 prelim: rev $29.3M (+18%), Adj EBITDA $3.2M (+23%), cuts FY guidance

JOINT Corp

Revenue $29.3M (+18% YoY); operating loss improved to $0.375M from $1.3M loss in Q2 2022.
Adjusted EBITDA $3.2M (+23% YoY); system-wide sales $120.1M (+13%); comp sales +5%.
FY 2023 revenue guidance cut to $115-118M from $123-128M; Adj EBITDA cut to $11-12.5M from $12.5-14M.
Plans to cull ~10% of corporate clinic portfolio via accretive transactions to improve profitability.
Cash $13.6M; opened 26 new clinics in Q2; total clinics 890 at quarter end, 911 as of Sept 12.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

JOINT Corp reported the second quarter ended June 30, 2023 results: revenue $29.3 million. Guidance lowered.

Period: the second quarter ended June 30, 2023
Revenue: $29.3 million
Guidance: lowered
Result: preliminary results

Exact text from the filing

its preliminary financial results for the second quarter ended June 30, 2023. Preliminary Financial Highlights: Q2 2023 Compared to Q2 2022 Grew preliminary revenue 18% to $29.3 million. Reported preliminary operating loss of $375,000, compared to $1.3 million. Reported preliminary loss before income tax expense of $481,000, compared to $1.3 million. Increased

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Source: SEC EDGAR

accession 0001171843-23-005696

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