The Joint Corp. Reports 2022 Operating Metrics
NEWS
Crows Annual System-Wide Sales 21%, Compared to 2021 - Increases Comp Sales of 9%, Compared to 2021 - Opens 137 New Clinics, an Annual Record and Up from 130 in 2021 - Expands Year-end Total Clinic Count to 838, Compared to 2021
SCOTTSDALE, AZ, - The Joint Corp. (NASDAQ: JYNT), a national operator, manager, and franchisor of chiropractic clinics, provided operating metrics for the year ended 2022.
“Our team continues to excel at improving quality of life through routine and affordable chiropractic care,” stated Peter D. Holt, President and Chief Executive Officer of The Joint Corp. “In 2022, we grew beyond the company records we posted in 2021. We expanded our clinic network 19%, grew the number of annual patient visits by 12% and increased our new patient count by 5% over 2021. Although lower than our historical comparisons, our 21% system-wide sales increase and 9% comp sales increase are strong in this environment. In fact, in spite of higher interest rates, inflation and consumer uncertainty, we sold 75 franchise licenses. This is a major achievement and testament to our clinic business model. In 2023, we plan to continue to broaden our national brand recognition and execute our clinic expansion strategy in a measured manner to drive long-term growth and profitability.”
2022 Full Year Operating Highlights
• Performed 12.2 million patient visits, compared to 10.9 million in 2021.
• Treated 845,000 new patients, compared to 807,000 in 2021.
• Increased system-wide salesl 21%, compared to 39% in 2021.
• Delivered comp sales2 of 9%, compared to 29% in 2021.
• Sold 75 franchise licenses, compared to 156 in 2021.
• Grew total clinics to 838, 712 franchised and 126 company-owned or managed units, up from 706 clinics at December 31, 2021.
° Acquired 16 franchised clinics.
° Closed five clinics.
° Opened 121 franchised clinics and 16 corporate greenfield clinics, for a total of 137 new clinics in 2022, as compared to 130 new clinics in 2021.
Q4 2022 Financial Results Reporting
Management intends to report its fourth quarter 2022 financial results on Thursday, March 9, 2023, after the market close. President and CEO Peter D. Holt and CFO Jake Singleton wifi hold a conference call at 5:00 p.m. ET that day to discuss the results.
To learn more about The Joint Corp. call (480) 245-5960 or visit our website www. thejoint. com
