The Joint Corp. (NASDAQ: JYNT), a national operator, manager, and
franchisor of chiropractic clinics, provided operating metrics for
the year ended 2021.
2021 Full Year Operating Highlights
- Performed 10.9 million patient visits, up from 8.3 million in
2020 and 7.7 million in 2019.
- Treated 807,000 new patients, up from 584,000 in 2020 and
585,000 in 2019.
- Increased system-wide sales1 39%, up from 18% in 2020 and from
33% in 2019.
- Delivered comp sales2 of 29%, up from 9% in 2020 and 25% in
2019.
- Sold 156 franchise licenses, compared to 121 in 2020 and 126 in
2019.
- Grew total clinics to 706 at December 31, 2021, 610 franchised
and 96 company-owned or managed, up from 579 at December 31, 2020.
During 2021, the company acquired 12 franchised clinics and closed
3 clinics. It also opened 110 franchised and 20 corporate
greenfield clinics, for a total of 130 new clinics in 2021, as
compared to 73 new clinics opened in 2020 and 76 in 2019.
“We are proud of our doctors, wellness coordinators, entire
community of franchisees, and corporate staff who consistently work
to achieve our mission of improving quality of life through routine
and affordable chiropractic care,” stated Peter D. Holt, President
and Chief Executive Officer of The Joint Corp. “Once again, they
rose to the occasion, delivering record breaking operational
performance in 2021. In 2022, we plan to accelerate our clinic
opening momentum as we march toward our goal of 1,000 clinics
opened by the end of 2023.”
About The Joint Corp. (NASDAQ: JYNT) The Joint
Corp. 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 makes
quality care convenient and affordable, while eliminating the need
for insurance, for millions of patients seeking pain relief and
ongoing wellness. With over 700 locations nationwide and nearly
eleven million patient visits annually, The Joint Chiropractic is a
key leader in the chiropractic industry. Ranked number one on
Forbes’ 2022 America's Best Small Companies list, number three on
Fortune’s 100 Fastest-Growing Companies list and consistently named
to Franchise Times “Top 400+ Franchises” and Entrepreneur’s
“Franchise 500®” lists, The Joint Chiropractic is an innovative
force, where healthcare meets retail. For more information, visit
www.thejoint.com. For franchise opportunities, visit
www.thejointfranchise.com.
Business StructureThe 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, Rhode
Island, South Dakota, Tennessee, Washington, West Virginia and
Wyoming, The Joint Corp. and its franchisees provide management
services to affiliated professional chiropractic practices.
Forward-Looking StatementsThis 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. 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, the continuing impact
of the COVID-19 outbreak on the economy and our operations
(including temporary clinic closures, shortened business hours and
reduced patient demand), our failure to develop or acquire
company-owned or managed clinics as rapidly as we intend, our
failure to profitably operate company-owned or managed clinics, our
inability to identify and recruit enough qualified chiropractors
and other personnel to staff our clinics, due in part to the
nationwide labor shortage, 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, and
the other factors described in “Risk Factors” in our Annual Report
on Form 10-K as filed with the SEC for the year ended December 31,
2020, as updated or revised for any material changes described in
any subsequently-filed Quarterly Reports on Form 10-Q or other SEC
filings. 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. 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.
Media Contact: Margie Wojciechowski, The Joint
Corp., margie.wojciechowski@thejoint.comInvestor
Contact: Kirsten Chapman, LHA Investor Relations,
415-433-3777, thejoint@lhai.com
________________________________________________________________________________________________________________________________________
1 System-wide sales include sales at all clinics, whether
operated 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 sales are the basis on which
the Company calculates and records royalty fees and are indicative
of the financial health of the franchisee base.
2 Comp sales include the sales 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, respectively.
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