JYNT

MKT CAP:$129M

The Joint Corp.

Market Cap

$129M

Healthcare·Medical - Care Facilities·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$8.80-$0.05 (-0.56%)

Apr 23, 2026

Company Details

The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics. The company operates in two segments, Corporate Clinics and Franchise Operations. It operates through direct ownership, management arrangements, franchisi...

CEO

Sanjiv Razdan

IPO Date

Nov 11, 2014

Website

www.thejoint.com

Key Metrics TTM

Revenue

$18M

-82.5% YoY

Net Income

-$9M

EPS (Diluted)

-$0.62

Free Cash Flow

$6M

Revenue / Share

$1.16

Gross Margin

35.0%

Operating Margin

-12.7%

Net Margin

-52.7%

FCF Margin

34.7%

P/S

7.3x

P/E

—

Earnings Reports

Q3 2025

May 14, 2026

PENDING

FY 2025

Mar 12, 2026

$55MEPS $0.19

Q2 2025

Aug 11, 2025

$13M+5.2%EPS $0.01

Q4 2024

Mar 13, 2025

-$38M-225.1%EPS -$0.18

Q3 2024

Nov 7, 2024

$30M+2.5%EPS -$0.21

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 20	$17M	$15M	$3M
Q1 21	$18M	$16M	$2M
Q2 21	$20M	$18M	$2M
Q3 21	$21M	$19M	$1M
Q2 22	$25M	$23M	-$1M
Q3 22	$26M	$24M	$732.3K
Q4 22	$28M	$25M	$1M
Q1 23	$28M	$26M	-$653.1K
Q2 23	$29M	$27M	-$374.6K
Q3 23	$29M	$27M	-$898.0K
Q4 23	$31M	$28M	-$147.4K
Q1 24	$12M	$9M	-$426.6K
Q2 24	$13M	$10M	-$2M
Q3 24	$30M	$27M	-$3M
Q4 24	-$38M	-$41M	$4M
Q2 25	$13M	$10M	-$1M

Valuation

Quarter	P/S	P/E
Q4 20	2.2x	9.8x
Q1 21	2.1x	8.8x
Q2 21	1.8x	7.5x
Q3 21	1.7x	7.3x
Q2 22	1.5x	21.3x
Q3 22	1.4x	28.8x
Q4 22	1.3x	55.1x
Q1 23	1.2x	47.2x
Q2 23	1.2x	39.3x
Q3 23	1.1x	70.3x
Q4 23	1.1x	—
Q1 24	1.3x	—
Q2 24	1.5x	—
Q3 24	1.5x	—
Q4 24	7.7x	—
Q2 25	7.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 20	$4M	$2M
Q1 21	$2M	-$68.9K
Q2 21	$7M	$4M
Q3 21	$3M	$1M
Q2 22	-$1M	-$3M
Q3 22	$4M	$3M
Q4 22	$5M	$4M
Q1 23	$6M	$5M
Q2 23	$1M	-$61.1K
Q3 23	$4M	$3M
Q4 23	$3M	$2M
Q1 24	$3M	$2M
Q2 24	-$973.5K	-$1M
Q3 24	$3M	$3M
Q4 24	$4M	$4M
Q2 25	$868.6K	$363.6K

Capital Expenditures

Quarter	CapEx
Q4 20	$2M
Q1 21	$2M
Q2 21	$2M
Q3 21	$2M
Q2 22	$2M
Q3 22	$1M
Q4 22	$2M
Q1 23	$1M
Q2 23	$2M
Q3 23	$1M
Q4 23	$1M
Q1 24	$395.0K
Q2 24	$262.4K
Q3 24	$243.9K
Q4 24	$284.3K
Q2 25	$505.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 20	+22.8%	+13.8%
Q1 21	+28.6%	+20.8%
Q2 21	+60.6%	+47.5%
Q3 21	+36.2%	+43.4%
Q2 22	+46.1%	+83.8%
Q3 22	+50.7%	+65.1%
Q4 22	+37.6%	+45.9%
Q1 23	+34.8%	+47.3%
Q2 23	+17.8%	+13.2%
Q3 23	+11.4%	+18.1%
Q4 23	+10.1%	+15.9%
Q1 24	-56.9%	-56.4%
Q2 24	-57.0%	-51.5%
Q3 24	+2.5%	+9.9%
Q4 24	-225.1%	-236.9%
Q2 25	+8.9%	+14.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 20	$207.3K	1.2%
Q1 21	$246.5K	1.4%
Q2 21	$283.6K	1.4%
Q3 21	$296.9K	1.4%
Q2 22	$340.2K	1.4%
Q3 22	$305.8K	1.2%
Q4 22	$304.4K	1.1%
Q1 23	$266.2K	0.9%
Q2 23	$417.0K	1.4%
Q3 23	$526.1K	1.8%
Q4 23	$528.4K	1.7%
Q1 24	$493.4K	4.0%
Q2 24	$552.1K	4.4%
Q3 24	$430.3K	1.4%
Q4 24	$203.3K	—
Q2 25	$331.0K	2.5%

OpEx Breakdown

Quarter	G&A	S&M
Q4 20	$10M	$2M
Q1 21	$10M	$2M
Q2 21	$12M	$3M
Q3 21	$13M	$3M
Q2 22	$19M	$4M
Q3 22	$18M	$4M
Q4 22	$18M	$3M
Q1 23	$20M	$4M
Q2 23	$20M	$5M
Q3 23	$20M	$4M
Q4 23	$21M	$3M
Q1 24	$7M	$2M
Q2 24	$8M	$3M
Q3 24	$21M	$5M
Q2 25	$8M	$3M

Revenue Segments

Quarter	Advertising	Franchise	Product and Service, Other	Regional Developer Fees	Revenues and Management Fees from Company Clinics	Royalty	Technology Service
Q4 20	$1M	$545.0K	$255.7K	$232.8K	$9M	$5M	$729.6K
Q1 21	$1M	$695.4K	$259.2K	$218.0K	$9M	$5M	$760.5K
Q2 21	$2M	$623.7K	$310.1K	$214.4K	$11M	$5M	$786.0K
Q3 21	$2M	$648.6K	$316.1K	$209.7K	$12M	$6M	$841.0K
Q2 22	$2M	$686.9K	$370.6K	$170.0K	$14M	$6M	$1M
Q3 22	$2M	$642.4K	$375.3K	$153.2K	$16M	$7M	$1M
Q4 22	$2M	$471.1K	$392.7K	$134.2K	$16M	$7M	$1M
Q1 23	$2M	$754.4K	$390.0K	$149.5K	$17M	$7M	$1M
Q2 23	$2M	$671.4K	$385.0K	—	$18M	$7M	$1M
Q3 23	$2M	$754.0K	$342.1K	—	$18M	$7M	$1M
Q4 23	$2M	$703.1K	$409.0K	—	$18M	$8M	$1M
Q3 24	$2M	$2M	$407.1K	—	$18M	$8M	$1M
Q2 25	$2M	$768.1K	$554.7K	—	—	$8M	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$18M	$0	$18M
Q2 22	$9M	$0	$9M
Q3 22	$10M	$0	$10M
Q4 22	$10M	$0	$10M
Q1 23	$15M	$0	$15M
Q2 23	$14M	$0	$14M
Q3 23	$16M	$0	$16M
Q4 23	$18M	$0	$18M
Q1 24	$19M	$0	$19M
Q2 24	$17M	$0	$17M
Q3 24	$21M	$0	$21M
Q4 24	$25M	$0	$25M
Q1 25	$22M	$0	$22M
Q2 25	$30M	$0	$30M
Q3 25	$31M	$0	$31M
Q4 25	$24M	$0	$24M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 20	15M	+0.8%	+1.2%
Q1 21	15M	+0.9%	+2.6%
Q2 21	15M	+0.5%	+3.0%
Q3 21	15M	+0.3%	+2.6%
Q2 22	15M	-0.9%	+0.9%
Q3 22	15M	-0.1%	-0.2%
Q4 22	15M	-0.1%	-0.7%
Q1 23	15M	+0.3%	-0.7%
Q2 23	15M	-1.2%	-1.1%
Q3 23	15M	+0.7%	-0.3%
Q4 23	15M	-0.3%	-0.4%
Q1 24	15M	+0.3%	-0.4%
Q2 24	15M	+1.0%	+1.8%
Q3 24	15M	+1.3%	+2.3%
Q4 24	15M	-1.1%	+1.4%
Q2 25	15M	+2.9%	+4.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 20	$75.7K	225
Q1 21	$78.0K	225
Q2 21	$89.9K	225
Q3 21	$93.3K	225
Q2 22	$78.8K	316
Q3 22	$83.7K	316
Q4 22	$77.5K	359
Q1 23	$78.8K	359
Q2 23	$81.6K	359
Q3 23	$82.1K	359
Q4 23	$69.0K	444
Q1 24	$27.4K	444
Q2 24	$28.4K	444
Q3 24	$68.0K	444
Q4 24	-$86.4K	443
Q2 25	$30.0K	443

Revenue / Employee