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8-K

JOINT Corp (JYNT)

8-K 2020-01-09 For: 2020-01-09
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Added on April 11, 2026

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549______________________

Form 8-K______________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event Reported): January 9, 2020

The Joint Corp. (Exact Name of Registrant as Specified in Charter)

Delaware 001-36724 90-0544160
(State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification Number)
16767 N. Perimeter Drive, Suite 110<br>Scottsdale, AZ 85260
---
(Address of Principal Executive Offices)

Registrant's telephone number, including area code:(480) 245-5960

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[   ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[   ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company [ X ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ X ]

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $0.001 Par Value Per Share JYNT The NASDAQ Capital Market LLC

Item 2.02. Results of Operations and Financial Condition.

On January 9, 2020, The Joint Corp. (the “Company”) issued a press release announcing highlights of its financial results for the year ended December 31, 2019. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information furnished in this Item 2.02 and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.


Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number Description
99.1 Press Release dated January 9, 2020

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

The Joint Corp.
Date: January 9, 2020 By: /s/ Peter D. Holt
Name: Peter D. Holt
Title: President and Chief Executive Officer

EXHIBIT INDEX

Exhibit Number Description
99.1 Press Release dated January 9, 2020

EdgarFiling EXHIBIT 99.1

The Joint Corp. Provides 2019 Metrics and New Clinic Guidance for 2020

- Grows System-Wide Sales 33% Annually, Compared to 2018 - - Increases Franchise Licenses Sales to 126, Up from 99 in 2018 -

SCOTTSDALE, Ariz., Jan. 09, 2020 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), a national operator, manager and franchisor of chiropractic clinics, provided metrics for the year ended 2019 and established new clinic guidance for 2020.

2019 Full Year Highlights Compared to 2018

  • Performed 7.7 million patient visits, up from 6.0 million in 2018.
  • Treated 585,000 new patients, up from 435,000 in 2018.
  • Increased system-wide sales^1^ 33% in 2019 from 2018, up from a 30% increase in 2018 from 2017.
  • Achieved comp sales^2^ of 25%, consistent with 2018 growth.
  • Sold 126 franchise licenses, compared to 99 in 2018.
  • Grew total clinics to 513 at December 31, 2019, 453 franchised and 60 company-owned or managed, up from 442 at December 31, 2018. During 2019, the company opened 71 franchises and 5 greenfield clinics, acquired 8 franchised clinics and closed 5 clinics.

2020 New Clinic Guidance In 2020, the company expects to

  • Open 80 to 90 franchised clinics, up from 71 in 2019 and 47 in 2018, and
  • Increase company-owned or managed portfolio clinics by 16 to 20 through new greenfield clinics and franchised clinic buybacks, up from 13 in 2019 and 1 in 2018.

“Our marketing campaigns, sales promotions and growing brand recognition are driving continued interest in our effective, affordable and accessible chiropractic care, which translated into strong 2019 metrics,” stated Peter D. Holt, President and Chief Executive Officer of The Joint Corp. “Looking ahead to 2020, we believe our business momentum will continue to accelerate, yielding an increasing clinic count, continued strong comp sales and improved clinic operations.”

**About The Joint Corp. (NASDAQ: JYNT)**The Joint Corp. (NASDAQ: JYNT) is revolutionizing access to chiropractic care by making quality care convenient and affordable, while eliminating the need for insurance, for millions of patients seeking pain relief and ongoing wellness. With over 7 million patient visits annually, The Joint is a key leader in the chiropractic industry and has more than 500 franchised and company-owned/managed locations nationwide.  An innovative force, where healthcare meets retail, The Joint Chiropractic was named one of the “Top 200+ Franchises” by Franchise Times and ranked number 109 on Entrepreneur magazine’s Franchise 500® list. For more information, visit www.thejoint.com. To learn about franchise opportunities, visit www.thejointfranchise.com.

Business Structure The 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, Massachusetts, 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 Statements This 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, 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, and the factors described in “Risk Factors” in our Annual Report on Form 10-K as filed with the SEC for the year ended December 31, 2018 and as described in any “Risk Factors” in Quarterly Reports on Form 10-Q as filed with the SEC for the quarters ended March 31, 2019, June 30, 2019 and September 30, 2019.  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.com Investor 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.