Joint Corp
NASDAQ:JYNT
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Joint Corp
NASDAQ:JYNT
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Joint Corp
The Joint Corp. engages in the development, ownership, operation, support, and management of chiropractic clinics. The company is headquartered in Scottsdale, Arizona and currently employs 316 full-time employees. The company went IPO on 2014-11-11. Its segments include Corporate Clinics and Franchise Operations. Corporate Clinics segment is comprised of the operating activities of the Company-owned or managed clinics. The firm operates or manages approximately 96 clinics under this segment. Franchise Operations segment is comprised of the operating activities of the franchise business unit. The franchise system consists of approximately 610 clinics in operation. The company offers a range of membership and wellness packages. The company offers its patients the opportunity to visit its clinics without an appointment and receive prompt attention. Each patient's records are digitally updated for ready retrieval in its data storage system by its chiropractors in compliance with various applicable medical records security and privacy regulations.
The Joint Corp. engages in the development, ownership, operation, support, and management of chiropractic clinics. The company is headquartered in Scottsdale, Arizona and currently employs 316 full-time employees. The company went IPO on 2014-11-11. Its segments include Corporate Clinics and Franchise Operations. Corporate Clinics segment is comprised of the operating activities of the Company-owned or managed clinics. The firm operates or manages approximately 96 clinics under this segment. Franchise Operations segment is comprised of the operating activities of the franchise business unit. The franchise system consists of approximately 610 clinics in operation. The company offers a range of membership and wellness packages. The company offers its patients the opportunity to visit its clinics without an appointment and receive prompt attention. Each patient's records are digitally updated for ready retrieval in its data storage system by its chiropractors in compliance with various applicable medical records security and privacy regulations.
Transformation progress: Management says Joint 2.0 is on track to complete by year-end and refranchising is nearly finished — 48 corporate clinics remain (down from 135) with active LOIs/APAs for 27 clinics.
Q4 results: System-wide sales were $140 million (down 3.9% YoY); consolidated revenue was $15.2 million (up ~3% YoY); consolidated adjusted EBITDA was $3.6 million (up 7.8% YoY).
Full-year picture: System-wide sales were $532 million (flat YoY); consolidated adjusted EBITDA rose to $13.0 million; consolidated net income was $2.9 million vs a loss in 2024.
Marketing & demand: Company shifted messaging to pain relief, moved spend from local to national, and invested in SEO/AI-search — early sequential improvements in leads and new patients but new patient flow remains the weakest link.
Pricing & ops: Piloting $2/$5/$10 price tests across ~300 clinics (early signs favor $10); conversion and retention initiatives include new Align 1/2 lower-frequency plans and in-clinic conversion training.
2026 guidance: System-wide sales $519M–$552M; comp sales -3% to +3%; consolidated adjusted EBITDA $12.5M–$13.5M. No pricing assumed in the guide.
Pure-play franchisor model: Management outlined mid-2026 run-rate targets: revenue ~11% of system-wide sales, adjusted EBITDA margin 19%–21%, free cash flow conversion 60%–70%.
Capital allocation: Repurchased 1.3M shares in 2025 for $11.3M; priorities post-refranchise are growth investments, buybacks (RD territories) and continued repurchases.
