Joint Corp Q2 revenue up 14% to $15.2M; net income $653K; refranchising substantially complete

JOINT Corp

Revenue $15.2M (+14% YoY); consolidated net income $653K vs $93K; adjusted EBITDA from continuing ops $1.5M vs $88K.
Free cash flow $1.9M vs $364K; cash from operations $2.2M (+152% YoY).
Refranchising substantially complete; now operates as capital-light pure-play franchisor with 941 clinics (896 franchised, 45 company-owned).
Repurchased 82,000 shares for $677K at avg $8.23; $3.8M remaining under $12M buyback program.
Reiterated 2026 guidance: system-wide sales $519-552M, comp sales (3)% to 3%, consolidated Adj. EBITDA $12.5-13.5M.

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