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The Joint Corp. (NASDAQ: JYNT) boosts Q2 profit and keeps 2026 targets

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

The Joint Corp., a chiropractic clinic franchisor, reported second quarter 2026 results reflecting its shift to a capital-light, pure-play franchisor model. Revenue from continuing operations was $15.2 million, up 14% year over year, while reported system-wide sales were $180.0 million, down 3.7%, and comp sales were (2.8)%.

Consolidated net income increased to $653,000 and net loss from continuing operations narrowed to $251,000 compared with a $1.0 million loss a year earlier. Adjusted EBITDA from continuing operations rose to $1.5 million from $88,000. Cash flow from operating activities improved to $2.2 million and free cash flow to $1.9 million.

The network had 941 clinics at June 30, 2026, reflecting openings, closures and refranchising under the Joint 2.0 strategy. Unrestricted cash totaled $22.2 million, and the company has an undrawn $20 million credit line. Management reaffirmed 2026 guidance, including system-wide sales of $519–$552 million, system-wide comp sales between (3)% and 3%, and consolidated Adjusted EBITDA of $12.5–$13.5 million.

Positive

  • Revenue and earnings inflection: Q2 2026 revenue grew 14% to $15.2 million, consolidated net income rose to $653,000, and Adjusted EBITDA from continuing operations increased to $1.5 million, alongside a jump in free cash flow to $1.9 million.
  • Stronger cash and reiterated outlook: Cash flow from operating activities rose 152% to $2.2 million, unrestricted cash was $22.2 million with a $20 million undrawn credit line, and management reaffirmed 2026 guidance, including Adjusted EBITDA of $12.5–$13.5 million.

Negative

  • Top-line softness at the clinic level: Q2 2026 system-wide sales fell 3.7% to $180.0 million and comp sales were (2.8)%, and management expects year-end 2026 clinic count to be below 2025 after closing underperforming locations.

Filing Explained

Refranchising has shifted operations toward franchising, but clinic transfers remain incomplete; the company also repurchased 82,000 shares.

Refranchising is substantially complete, but its current state is mixed: buyers have assumed ownership of 32 Southern California and six Southeast clinics, while 13 and 15 respectively remain under buyer management agreements pending lease assignments, and a signed asset purchase agreement covers four Northern California clinics.

Although the release describes The Joint Corp. as effectively operating as a capital-light, pure-play franchisor, the disclosed transfers are not fully completed because ownership or lease-related steps remain unresolved.

Separately, the company completed a second-quarter repurchase of 82,000 shares for approximately $677,000 at an average $8.23 per share. As of June 30, 2026, $3.8 million remained under the $12 million repurchase program; that figure is remaining program authorization, not additional completed repurchases.

The filing identifies finalizing lease assignments and reassignments and completing the Northern California asset purchase agreement as the stated resolution items for the refranchising transition.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 revenue $15.2 million Quarter ended June 30, 2026; 14% increase versus Q2 2025
Q2 2026 system-wide sales $180.0 million Reported system-wide sales; 3.7% decrease versus Q2 2025
Q2 2026 consolidated net income $653,000 Net income from consolidated operations versus $93,000 in Q2 2025
Q2 2026 Adjusted EBITDA (continuing ops) $1.5 million Adjusted EBITDA from continuing operations versus $88,000 in Q2 2025
Q2 2026 free cash flow $1.9 million Free cash flow for the quarter versus $364,000 in Q2 2025
Unrestricted cash balance $22.2 million Unrestricted cash as of June 30, 2026
2026 system-wide sales guidance $519–$552 million Reiterated full-year 2026 system-wide sales outlook
2026 consolidated Adjusted EBITDA guidance $12.5–$13.5 million Reiterated full-year 2026 consolidated Adjusted EBITDA guidance range
system-wide sales financial
"Reported system-wide sales1 of $180.0 million, a 3.7% decrease"
Total revenue generated by every outlet in a company’s network, including both company-owned and franchised locations, measured over a given period. Investors watch system-wide sales as a broad indicator of brand demand and growth—like checking the overall temperature of a chain rather than one store—because rising totals suggest the business model and customer base are expanding even if ownership mixes vary.
comp sales financial
"Reported comp sales2 of (2.8)%, a 140-basis point improvement"
Comp sales, short for comparable or same-store sales, measure revenue growth at locations or business units that have been open for a consistent period (usually a year or more), excluding the effects of new openings, closures or acquisitions. Investors use comp sales like checking the temperature of the core business—it shows whether existing operations are attracting more customers or sales per customer, separating true performance from growth driven by adding new outlets.
Adjusted EBITDA financial
"Adjusted EBITDA from continuing operations was $1.5 million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
free cash flow financial
"free cash flow (a non-GAAP metric) was $1.9 million"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
refranchising financial
"The Company has substantially completed the refranchising initiative"
Refranchising is when a company sells or transfers its company-operated locations to independent franchisees who run the business and pay fees or royalties to the company. For investors this is important because it typically brings immediate cash from the sales, reduces the company’s day-to-day operating costs and capital spending, and shifts future profit from direct store sales to steadier fee income—while also reducing control and the potential upside from operating the business directly.
Management Service Agreements financial
"clinics currently operated by the buyer under Management Service Agreements"
A management service agreement is a contract where a company hires an outside firm or a separate business unit to run specific operations—such as administration, finance, or day-to-day business functions—in exchange for a fee. For investors, these deals matter because they change who actually runs the business, affect ongoing costs and profit margins, and can signal how efficiently resources will be managed; think of it like hiring a property manager who takes care of a building and charges a fixed percentage of the rent.
Q2 2026 revenue $15.2 million up 14% compared to the second quarter of 2025
Q2 2026 system-wide sales $180.0 million down 3.7% compared to the second quarter of 2025
Q2 2026 consolidated net income $653,000 increased from $93,000 in the second quarter of 2025
Q2 2026 Adjusted EBITDA (continuing ops) $1.5 million up from $88,000 in the second quarter of 2025
Q2 2026 free cash flow $1.9 million up from $364,000 in the second quarter of 2025
Guidance

For 2026, management reiterated guidance for system-wide sales of $519–$552 million, system-wide comp sales between (3)% and 3%, and consolidated Adjusted EBITDA of $12.5–$13.5 million, with 22–26 new franchised clinic openings and year-end clinic count below 2025 after portfolio reshaping.

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FAQ

How did The Joint Corp. (JYNT) perform financially in Q2 2026?
The Joint Corp. generated $15.2 million in Q2 2026 revenue, up 14% year over year, with consolidated net income of $653,000. Adjusted EBITDA from continuing operations improved sharply to $1.5 million from $88,000 in Q2 2025.

What cash and liquidity position did The Joint Corp. (JYNT) report as of June 30, 2026?
As of June 30, 2026, The Joint Corp. held $22.2 million in unrestricted cash and $1.7 million in restricted cash. The company also maintained a fully undrawn $20 million line of credit with JP Morgan Chase, available through August 2029.

What is included in The Joint Corp.’s 2026 financial guidance?
For 2026, management reiterated guidance for system-wide sales of $519–$552 million, system-wide comp sales between (3)% and 3%, and consolidated Adjusted EBITDA of $12.5–$13.5 million. New franchised clinic openings are expected in the 22–26 range.

How is The Joint Corp. (JYNT) progressing with its Joint 2.0 refranchising strategy?
The company has largely executed its Joint 2.0 refranchising plan, including Southern and Southeast clinic bundles where buyers assumed ownership of many clinics. As a result, The Joint now effectively operates as a capital-light, pure-play franchisor focused on franchise system growth.

How many clinics did The Joint Corp. (JYNT) operate at the end of Q2 2026?
Total clinic count was 941 at June 30, 2026, including 896 franchised clinics and 45 company-owned or managed clinics. During Q2, the company opened five clinics, closed seven, and refranchised 29 clinics as part of its portfolio optimization.

Did The Joint Corp. (JYNT) repurchase any stock in Q2 2026?
Yes. The Joint Corp. repurchased approximately 82,000 shares in Q2 2026 for about $677,000, at an average price of $8.23 per share. As of June 30, 2026, $3.8 million remained under its $12 million repurchase authorization.
0001612630FALSE00016126302026-08-062026-08-06

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): August 6, 2026

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

Delaware001-36724 90-0544160
(State or other jurisdiction(Commission File Number)(IRS Employer
of incorporation)Identification No.)
16767 N. Perimeter Drive, Suite 110
Scottsdale, Arizona 85260
(Address of principal executive offices) (Zip Code)

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

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))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.001JYNT
The NASDAQ Capital Market LLC

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 ☐



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. ☐

Item 2.02. Results of Operations and Financial Condition.

On August 6, 2026, we issued a press release announcing our financial results for the quarter ended June 30, 2026. 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 (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 7.01. Regulation FD Disclosure.

We are posting an earnings presentation to our website at https://ir.thejoint.com/. A copy of the earnings presentation is being furnished herewith as Exhibit 99.2. We will use the earnings presentation during our earnings conference call on August 6, 2026 and also may use the earnings presentation from time to time in conversations with analysts, investors, and others.

The information furnished in this Item 7.01 and Exhibit 99.2 shall not be deemed “filed” for purposes of Section 18 of 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 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

The information contained in Exhibit 99.2 is summary information that is intended to be considered in the context of our filings with the Securities and Exchange Commission (the “SEC”). We undertake no duty or obligation to publicly update or revise the information contained in this Current Report on Form 8-K, although we may do so from time to time as our management believes is warranted. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases, or through other public disclosure.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.
Exhibit NumberExhibits
99.1
Press Release, dated August 6, 2026, Earnings Release
99.2
The Joint Corp. Earnings Presentation, dated August 6, 2026
104Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES

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:August 6, 2026By:/s/ Sanjiv Razdan
Sanjiv Razdan
President and Chief Executive Officer

Exhibit 99.1
logo.jpg

The Joint Corp. Reports Second Quarter 2026 Financial Results
- Consolidated Net Income Increases $560,000 to $653,000;
Adjusted EBITDA From Continuing Operations Increases by $1.4 Million -
- Cash Flow from Operating Activities Rises 152% to $2.2 Million, Driving Free Cash Flow of $1.9 million -
- Delivered on Capital Allocation Priorities with Regional Developer Territory Buybacks and $677,000 in Share Repurchases -

SCOTTSDALE, Ariz., August 6, 2026 - The Joint Corp. (NASDAQ: JYNT), the nation's largest franchisor of chiropractic care through The Joint Chiropractic® network, today reported financial results for the second quarter ended June 30, 2026. The following figures represent continuing operations unless otherwise stated.

Second Quarter 2026 Financial Highlights
•Revenues grew to $15.2 million, a 14% increase compared to the second quarter of 2025.
•Reported system-wide sales1 of $180.0 million, a 3.7% decrease compared to the second quarter of 2025.
•Reported comp sales2 of (2.8)%, a 140-basis point improvement compared to the first quarter of 2026.
•Net income from consolidated operations was $653,000, compared to $93,000 in the second quarter of 2025. Net loss from continuing operations was $251,000, compared to a net loss of $1.0 million in the second quarter of 2025.
•Adjusted EBITDA (a non-GAAP metric) from consolidated operations was $3.2 million, in line with $3.2 million in the second quarter of 2025. Adjusted EBITDA from continuing operations was $1.5 million, compared to $88,000 in the second quarter of 2025.
•Cash flow from operating activities improved to $2.2 million compared to $869,000 in the second quarter of 2025, and free cash flow (a non-GAAP metric) was $1.9 million compared to $364,000 in the second quarter of 2025.
•Repurchased 82,000 shares for total consideration of approximately $677,000, at an average of $8.23 per share during the second quarter.
•Completed three regional developer (“RD”) territory buybacks in the second quarter.

Second Quarter 2026 Operating Highlights
•Total clinic count was 941 at June 30, 2026.
◦Opened five clinics, closed seven clinics, and refranchised 29 clinics during the quarter, for a total of 896 franchised clinics and 45 company-owned or managed clinics at June 30, 2026.
•Increased adoption of the Company’s more flexible plan options continues to drive significantly stronger patient retention rate.
1 System-wide sales include revenues at all clinics, whether operated or managed 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 revenues 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 revenues 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.
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“In the second quarter, we continued to see the benefits of our Joint 2.0 strategy take hold, with our actions to optimize the clinic portfolio, streamline our operating structure, and elevate the patient experience driving improved operating efficiency and strong free cash flow,” said President and Chief Executive Officer of The Joint Corp., Sanjiv Razdan. “We are encouraged with another quarter of revenue growth, as well as the improvement in comp trends compared to the first quarter. We are also seeing the early benefits of our flexible membership options, which contributed to strengthening patient retention. In addition, our national marketing initiative is leveraging consumer research to uncover emerging patient trends, ensuring our offerings align with what patients are seeking from chiropractic care.

“As we enter the second half of 2026, we expect our pure-play franchisor model to drive margin improvement, profitability and continued free cash flow. Our balance sheet remains strong, with $22.2 million in unrestricted cash, which combined with our improving cash generation, positions us to continue to execute on our capital allocation priorities including share repurchases and RD territory buybacks. In addition, we are investing in growth-focused initiatives to deepen patient relationships and improve outcomes across the network. Together, these efforts reinforce our commitment to build sustainable, long-term value for our franchise partners, patients, and stockholders.”

Update on Refranchising Efforts
The Company has substantially completed the refranchising initiative under its Joint 2.0 strategy through three previously announced clinic sale bundles:
•Southern California Bundle: As of August 5, 2026, the buyer has assumed ownership of 32 clinics, with the remaining 13 clinics currently operated by the buyer under Management Service Agreements pending finalization of lease assignments.
•Northern California Bundle: A signed Asset Purchase Agreement is in place for these four clinics.
•Southeast Bundle: As of August 5, 2026, the buyers have assumed ownership of six clinics, with the remaining 15 clinics currently operated by the buyers under Management Service Agreements pending finalization of lease reassignments.

As a result of these refranchising efforts, The Joint Corp. now effectively operates as a capital-light, pure-play franchisor, allowing management to concentrate fully on driving growth through franchise system support, new patient acquisition, and long-term network development.

Financial Results for Second Quarter Ended June 30, 2026 Compared to June 30, 2025
Revenue totaled $15.2 million in the second quarter of 2026, compared to $13.3 million in the second quarter of 2025, reflecting the shift to the Company's pure play franchisor revenue model. Cost of revenues was $2.5 million, down approximately 11% compared to the prior-year period, primarily due to lower RD royalty costs as the Company continues to reacquire RD territories.

Selling and marketing expenses were $4.9 million, an increase of 40% compared to the second quarter of 2025, primarily due to incremental investments in brand awareness and patient acquisition. Depreciation and amortization expenses were $423,000. General and administrative expenses decreased 2% to $7.6 million compared to $7.7 million in the second quarter of 2025, underscoring ongoing operating discipline within the leaner post-refranchising structure.

Consolidated net income was $653,000, compared to $93,000 in the prior-year period. Net loss from continuing operations was $251,000, compared to a net loss of $1.0 million in the second quarter of 2025. Consolidated EPS was $0.05 per diluted share, compared to $0.01 per diluted share in the second quarter of 2025.

Adjusted EBITDA from consolidated operations was $3.2 million, in line with $3.2 million in the second quarter of 2025. Adjusted EBITDA from continuing operations was $1.5 million, compared to $88,000 in the prior-year period.

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Balance Sheet and Stock Repurchase Program
Unrestricted cash was $22.2 million at June 30, 2026, an increase compared to $20.7 million at March 31, 2026. The Company maintains a currently undrawn line of credit with JP Morgan Chase, which provides immediate access to $20 million through August 2029.

During the second quarter of 2026, the Company repurchased approximately 82,000 shares for total consideration of approximately $677,000, at an average price of $8.23 per share. As of June 30, 2026, the Company had $3.8 million remaining under the $12 million stock repurchase program authorized in November 2025.

Financial Results for Six Months Ended June 30, 2026 Compared to June 30, 2025
Revenue was $30.0 million in the first six months of 2026, up 14% compared to $26.3 million in the same period in 2025. Consolidated net income was $2.0 million, compared to $1.1 million in the six months ended June 30, 2025. Net income from continuing operations was $851,000, compared to a net loss of $1.5 million in the six months ended June 30, 2025. Consolidated EPS was $0.14 per diluted share, compared to $0.07 per diluted share in the prior-year period.

Adjusted EBITDA from consolidated operations increased to $6.6 million and Adjusted EBITDA from continuing operations improved to $3.7 million, compared to Adjusted EBITDA from consolidated operations of $6.1 million and Adjusted EBITDA from continuing operations of $134,000 in the six months ended June 30, 2025.

2026 Guidance
The Company reiterated its 2026 financial guidance as originally provided on March 12, 2026, as follows:
•System-wide sales are expected to be between $519 million and $552 million.
•System-wide comp sales for clinics open 13 months or more are expected to be in the range of (3)% to 3%.
•Consolidated Adjusted EBITDA is expected to be in the range of $12.5 million to $13.5 million.
New franchised clinic openings, excluding the impact of refranchised clinics, are now expected to be in the range of 22 to 26. The Company is working with franchise owners to optimize the performance of the existing franchised clinic base. This will include closing underperforming clinics this year, which will result in the overall clinic count at 2026 year end being lower than 2025 year end.

Conference Call
The Joint Corp. management will host a conference call at 5:00 p.m. ET on Thursday, August 6, 2026, after the market close. Shareholders and interested participants may listen to a live broadcast of the conference call by dialing (800) 715-9871 or (646) 307-1963 and using conference ID: 5033381 approximately 15 minutes prior to the start time. The live webcast of the call, including the accompanying slide presentation, can be accessed in the IR events section of The Joint's website at https://ir.thejoint.com/events.

A replay of the webcast will be archived on the Company’s investor relations website for approximately one year. An audio replay of the conference call will be available through Thursday, August 13, 2026, and can be accessed by dialing (855) 669-9658 or (412) 317-0088 and entering conference ID 4782858.

About The Joint Corp. (NASDAQ: JYNT)
The Joint Corp. (NASDAQ: JYNT) 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 is making quality care convenient and affordable, while eliminating the need for insurance, for millions of patients seeking pain relief and ongoing wellness. Headquartered in Scottsdale and with over 940 locations nationwide and more than 14 million patient visits annually, The Joint Chiropractic is a key leader in the chiropractic industry. The brand is consistently named to Franchise Times’ annual “Top 400” and “Fast & Serious” list
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of smartest growing brands. Entrepreneur named The Joint “No. 1 in Chiropractic Services,” and it is regularly ranked on the publication’s “Franchise 500®,” “Fastest-Growing Franchises,” and “Best of the Best” lists, as well as its “Top Franchise for Veterans” and “Top Brands for Multi-Unit Owners” rankings. SUCCESS® named the Company one of the “Top 50 Franchises”. The Joint Chiropractic is an innovative force where healthcare meets retail. 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, Connecticut, Delaware, District of Columbia, Florida, Illinois, Kansas, Kentucky, Maryland, Michigan, Minnesota, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Tennessee, Washington, and West Virginia, The Joint Corp. and its franchisees provide management services to affiliated professional chiropractic practices.

Commonly Discussed Performance Metrics
This release includes a presentation of commonly discussed performance metrics. System-wide sales include revenues 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. Comp sales include the revenues 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.

Non-GAAP Financial Information
This release also includes a presentation of non-GAAP financial measures. EBITDA and Adjusted EBITDA are presented because they are important measures used by management to assess financial performance, as management believes they provide a more transparent view of the company’s underlying operating performance and operating trends. Free cash flow is presented as a supplemental measure of liquidity. Reconciliation of historical net income/(loss) to EBITDA, Adjusted EBITDA and free cash flow is presented in the tables below. The company defines EBITDA as net income/(loss) before net interest, tax expense, depreciation, and amortization expenses. The company defines Adjusted EBITDA as EBITDA before acquisition-related expenses (which includes contract termination costs associated with reacquired RD rights), net (gain)/loss on disposition or impairment, stock-based compensation expenses, costs related to restatement filings, restructuring costs, and litigation expenses (consisting of legal and related fees for specific proceedings that arise outside of the ordinary course of our business). The company defines free cash flow as net cash provided by (used in) operating activities less capital expenditures. EBITDA, Adjusted EBITDA and free cash flow do not represent and should not be considered alternatives to net income or cash flows from operations, as determined by accounting principles generally accepted in the United States (“GAAP”). While EBITDA and Adjusted EBITDA are used as measures of financial performance and free cash flow is used as a measure of liquidity, they are not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the methods of calculation. EBITDA, Adjusted EBITDA and free cash flow should be reviewed in conjunction with the company’s financial statements filed with the Securities and Exchange Commission (the “SEC”). Please refer to the reconciliations of non-GAAP financial measures to their GAAP equivalents located at the end of this release. This release includes forward-looking guidance for certain non-GAAP financial measures, including Adjusted EBITDA. These measures will differ from net income (loss), determined in accordance with GAAP, in ways similar to those described in the reconciliations at the end of this release. We are not able to provide, without unreasonable effort, guidance for net income (loss), determined in accordance with GAAP, or a reconciliation of guidance for Adjusted EBITDA to the most directly comparable GAAP measure because the company is not able to predict with reasonable certainty the amount or nature of all items that will be included in net income (loss).

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
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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. Words such as "anticipates," "believes," "continues," "estimates," "expects," "goal," "objective," "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. Specific forward-looking statements made in this press release include, among others, our belief that in the second quarter, we continued to see the benefits of our Joint 2.0 strategy take hold, with our actions to optimize the clinic portfolio, streamline our operating structure, and elevate the patient experience driving improved operating efficiency and strong free cash flow; our belief that we are encouraged with another quarter of revenue growth, as well as the strengthening of comp trends as we exited the second quarter; our belief that we are seeing the early benefits of our flexible membership options, which contributed to strengthening patient retention; our belief that our national marketing initiative is leveraging consumer research to uncover emerging patient trends, ensuring our offerings align with what patients are seeking from chiropractic care; our expectation that as we enter the second half of 2026, our pure-play franchisor model will drive margin improvement, profitability and continued free cash flow; our belief that our balance sheet remains strong, with $22.2 million in unrestricted cash, which combined with our improving cash generation, positions us to continue to execute on our capital allocation priorities including share repurchases and RD territory buybacks; our plan to invest in growth-focused initiatives to deepen patient relationships and improve outcomes across the network and our belief that, together, these efforts reinforce our commitment to build sustainable, long-term value for our franchise partners, patients, and stockholders; and our reiterated 2026 guidance for system-wide sales, system-wide comp sales, consolidated Adjusted EBITDA, new franchised clinic openings, and overall clinic count. 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 inability to identify and recruit enough qualified chiropractors and other personnel to staff our clinics, due in part to the nationwide labor shortage and an increase in operating expenses due to measures we may need to take to address such shortage; inflation, leading to increased labor costs and interest rates, as well as changes to import tariffs and increased gas prices, may lead to reduced discretionary spending, all of which may negatively impact our business; our failure to profitably operate company-owned or managed clinics; our failure to refranchise as planned; 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; our failure to remediate future material weaknesses in our internal control over financial reporting, which could negatively impact our ability to accurately report our financial results, prevent fraud, or maintain investor confidence; and other factors described in our filings with the SEC, including in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 13, 2026 and subsequent filings with the SEC. 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.
Investor Contact:
Richard Land, Alliance Advisors IR, thejointinvestor@allianceadvisors.com (212)-838-3777

– Financial Tables Follow –

5

    


THE JOINT CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
June 30,
2026		December 31,
2025
ASSETS(unaudited)
Current assets:
Cash and cash equivalents$22,157,203 $23,601,810 
Restricted cash846,359 700,058 
Accounts receivable, net2,407,080 2,849,864 
Deferred franchise and regional development costs, current portion895,572 945,933 
Prepaid expenses and other current assets2,735,610 1,744,556 
Discontinued operations current assets ($1.0 million attributable to VIEs)14,760,981 22,246,318 
Total current assets43,802,805 52,088,539 
Property and equipment, net2,823,232 3,159,226 
Operating lease right-of-use asset1,454,886 1,572,173 
Deferred franchise and regional development costs, net of current portion3,259,579 3,827,129 
Deposits and other assets286,847 319,460 
Total assets$51,627,349 $60,966,527 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable$1,097,862 $1,588,665 
Accrued expenses1,855,708 1,501,838 
Co-op funds liability846,359 700,058 
Payroll liabilities2,139,102 4,055,752 
Operating lease liability, current portion340,885 194,179 
Deferred franchise fee revenue, current portion2,698,531 2,519,018 
Upfront regional developer fees, current portion178,540 277,394 
Other current liabilities641,515 611,231 
Discontinued operations current liabilities ($3.2 million and $6.1 million attributable to VIEs, respectively)14,180,239 21,368,446 
Total current liabilities23,978,741 32,816,581 
Operating lease liability, net of current portion1,696,293 1,815,527 
Deferred franchise fee revenue, net of current portion9,861,323 10,899,271 
Upfront regional developer fees, net of current portion215,683 355,556 
Total liabilities35,752,040 45,886,935 
Commitments and contingencies
Stockholders' equity:
Series A preferred stock, $0.001 par value; 50,000 shares authorized, zero shares issued and outstanding, respectively— — 
Common stock, $0.001 par value; 20,000,000 shares authorized, 15,755,965 shares issued and 14,199,592 shares outstanding and 15,471,715 shares issued and 14,142,626 shares outstanding, respectively15,755 15,471 
Additional paid-in capital52,766,531 52,026,407 
Treasury stock 1,556,373 shares and 1,329,089 shares, at cost, respectively(14,088,928)(12,192,081)
Accumulated deficit(22,843,049)(24,795,205)
Total The Joint Corp. stockholders' equity15,850,309 15,054,592 
Non-controlling Interest25,000 25,000 
Total equity15,875,309 15,079,592 
Total liabilities and stockholders' equity$51,627,349 $60,966,527 
6

    


THE JOINT CORP.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)

Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Revenues:
Royalty fees$8,327,549 $8,133,121 $16,359,838 $16,204,107 
Franchise fees750,587 768,100 1,895,655 1,596,619 
Advertising fund revenue3,715,837 2,332,695 7,362,920 4,640,197 
Software fees1,547,331 1,481,661 3,082,232 2,943,628 
Other revenues840,610 554,692 1,301,502 963,309 
Total revenues15,181,914 13,270,270 30,002,147 26,347,860 
Cost of revenues:
Franchise and regional development cost of revenues2,070,339 2,350,613 4,340,097 4,901,848 
IT cost of revenues406,911 421,994 859,808 842,885 
Total cost of revenues2,477,250 2,772,607 5,199,905 5,744,733 
Selling and marketing expenses4,886,151 3,483,844 8,603,055 6,988,994 
Depreciation and amortization422,861 402,295 819,554 764,225 
General and administrative expenses7,556,216 7,745,251 14,641,202 14,660,196 
Total selling, general and administrative expenses
12,865,228 11,631,390 24,063,811 22,413,415 
Net loss on disposition or impairment208,093 4,440 233,420 6,413 
(Loss) income from continuing operations(368,657)(1,138,167)505,011 (1,816,701)
Other income, net126,438 159,922 366,673 345,839 
(Loss) income before income tax expense(242,219)(978,245)871,684 (1,470,862)
Income tax expense9,108 11,390 20,220 24,794 
Net (loss) income from continuing operations(251,327)(989,635)851,464 (1,495,656)
Discontinued operations:
Income from discontinued operations before income tax expense901,789 1,183,199 1,280,502 2,760,428 
Income tax (benefit) expense from discontinued operations(2,559)100,201 179,810 203,613 
Net income from discontinued operations904,348 1,082,998 1,100,692 2,556,815 
Net income$653,021 $93,363 $1,952,156 $1,061,159 
Net (loss) income from continuing operations per common share:
Basic$(0.01)$(0.06)$0.06 $(0.10)
Diluted$(0.01)$(0.06)$0.06 $(0.10)
Net income from discontinued operations per common share:
Basic$0.06 $0.07 $0.08 $0.17 
Diluted$0.06 $0.07 $0.08 $0.17 
Net income per common share:
Basic$0.05 $0.01 $0.14 $0.07 
Diluted$0.05 $0.01 $0.14 $0.07 
Basic weighted average shares14,244,929 15,326,317 14,213,195 15,256,755 
Diluted weighted average shares14,246,993 15,400,408 14,216,232 15,328,198 

7

    


THE JOINT CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
Six Months Ended
June 30,
20262025
Cash flows from operating activities:
Net income$1,952,156 $1,061,159 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization829,001 807,730 
Net loss on disposition or impairment1,427,651 2,892,265 
Net franchise fees recognized upon termination of franchise agreements(395,159)(174,285)
Provision for credit losses122,823 — 
Stock-based compensation expense703,180 624,929 
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable454,019 1,558,183 
Prepaid expenses and other current assets(833,199)(1,743,981)
Deferred franchise costs408,499 183,839 
Deposits and other assets34,849 18,332 
Accounts payable(607,825)(91,075)
Accrued expenses629,565 (3,408,504)
Payroll liabilities(2,560,203)(1,446,598)
Operating leases(1,615,535)(2,719,624)
Deferred revenue(625,793)(508,565)
Upfront regional developer fees(238,727)(145,605)
Other liabilities1,030,748 259,795 
Net cash provided by (used in) operating activities716,050 (2,832,005)
Cash flows from investing activities:
Proceeds from sale of clinics1,160,284 7,778,287 
Purchase of property and equipment(490,858)(836,545)
Net cash provided by investing activities669,426 6,941,742 
Cash flows from financing activities:
Payments of finance lease obligation— (4,354)
Purchases of treasury stock under employee stock plans(74,983)(8,440)
Purchases of common stock under share repurchase programs(1,821,864)— 
Proceeds from exercise of stock options37,228 905,976 
Net cash (used in) provided by financing activities(1,859,619)893,182 
(Decrease) increase in cash, cash equivalents and restricted cash(474,143)5,002,919 
Cash, cash equivalents and restricted cash, beginning of period24,301,868 25,996,436 
Cash, cash equivalents and restricted cash, end of period$23,827,725 $30,999,355 
Reconciliation of cash, cash equivalents and restricted cash:June 30, 2026June 30, 2025
Cash and cash equivalents$22,157,203 $29,811,667 
Restricted cash1,670,522 1,187,688 
Cash, cash equivalents and restricted cash, end of period$23,827,725 $30,999,355 
8

    


THE JOINT CORP.
CONSOLIDATED RECONCILIATION FROM GAAP TO NON-GAAP
(unaudited)

Three Months Ended June 30,
20262025
From Continuing OperationsFrom Discontinued OperationsNet OperationsFrom Continuing OperationsFrom Discontinued OperationsNet Operations
Non-GAAP Financial Data:
Net (loss) income$(251,327)$904,348 $653,021 $(989,635)$1,082,998 $93,363 
Net interest income(126,439)— (126,439)(159,922)— (159,922)
Depreciation and amortization expense422,861 1,690 424,551 402,295 17,120 419,415 
Income tax expense (benefit)9,108 (2,559)6,549 11,390 100,201 111,591 
EBITDA54,203 903,479 957,682 (735,872)1,200,319 464,447 
Stock-based compensation expense423,180 — 423,180 330,988 — 330,988 
Acquisition-related expenses332,005 — 332,005 — — — 
Net loss on disposition or impairment208,093 816,466 1,024,559 4,440 1,752,494 1,756,934 
Restructuring costs113,451 (24,422)89,029 488,493 198,331 686,824 
Litigation expenses321,693 12,005 333,698 — — — 
Adjusted EBITDA$1,452,625 $1,707,528 $3,160,153 $88,049 $3,151,144 $3,239,193 

Six Months Ended June 30,
20262025
From Continuing OperationsFrom Discontinued OperationsNet OperationsFrom Continuing OperationsFrom Discontinued OperationsNet Operations
Non-GAAP Financial Data:
Net income (loss)$851,464 $1,100,692 $1,952,156 $(1,495,656)$2,556,815 $1,061,159 
Net interest (income) expense(368,188)— (368,188)(345,839)238 (345,601)
Depreciation and amortization expense819,554 9,447 829,001 764,225 43,505 807,730 
Income tax expense20,220 179,810 200,030 24,794 203,613 228,407 
EBITDA1,323,050 1,289,949 2,612,999 (1,052,476)2,804,171 1,751,695 
Stock-based compensation expense703,180 — 703,180 624,929 — 624,929 
Acquisition-related expenses332,005 — 332,005 — — — 
Net loss on disposition or impairment233,420 1,194,230 1,427,650 6,413 2,885,852 2,892,265 
Restructuring costs740,338 56,784 797,122 555,577 269,715 825,292 
Litigation expenses346,694 421,775 768,469 — — — 
Adjusted EBITDA$3,678,687$2,962,738$6,641,425$134,443$5,959,738$6,094,181















9

    


THE JOINT CORP.
RECONCILIATION OF OPERATING ACTIVITIES CASH FLOWS TO FREE CASH FLOW(1)
(unaudited)

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Cash flows provided by (used in) operating activities$2,192,220 $868,649 $716,050 $(2,832,005)
Purchase of property and equipment(256,258)(505,040)(490,858)(836,545)
Free cash flow$1,935,962 $363,609 $225,192 $(3,668,550)
(1) Free cash flow represents cash flows provided by (used in) operating activities less capital expenditures.
10

1NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Q2 2026 Financial Results As of June 30, 2026, reported on August 6, 2026

 

2NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | This presentation 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. Words such as "anticipates," "believes," "continues," "estimates," "expects," "goal," "objective," "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. Specific forward-looking statements made in this presentation include, among others, our belief that in the second quarter, we continued to see the benefits of our Joint 2.0 strategy take hold, with our actions to optimize the clinic portfolio, streamline our operating structure, and elevate the patient experience driving improved operating efficiency and strong free cash flow; our belief that we are encouraged with another quarter of revenue growth, as well as the strengthening of comp trends as we exited the second quarter; our belief that we are seeing the early benefits of our flexible membership options, which contributed to strengthening patient retention; our belief that our national marketing initiative is leveraging consumer research to uncover emerging patient trends, ensuring our offerings align with what patients are seeking from chiropractic care; our expectation that as we enter the second half of 2026, our pure-play franchisor model will drive margin improvement, profitability and continued free cash flow; our belief that our balance sheet remains strong, with $22.2 million in unrestricted cash, which combined with our improving cash generation, positions us to continue to execute on our capital allocation priorities including share repurchases and RD territory buybacks; our plan to invest in growth-focused initiatives to deepen patient relationships and improve outcomes across the network and our belief that, together, these efforts reinforce our commitment to build sustainable, long-term value for our franchise partners, patients, and stockholders; and our reiterated 2026 guidance for system-wide sales, system-wide comp sales, consolidated Adjusted EBITDA, new franchised clinic openings, and overall clinic count. 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 inability to identify and recruit enough qualified chiropractors and other personnel to staff our clinics, due in part to the nationwide labor shortage and an increase in operating expenses due to measures we may need to take to address such shortage; inflation, leading to increased labor costs and interest rates, as well as changes to import tariffs and increased gas prices, may lead to reduced discretionary spending, all of which may negatively impact our business; our failure to profitably operate company-owned or managed clinics; our failure to refranchise as planned; 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; our failure to remediate future material weaknesses in our internal control over financial reporting, which could negatively impact our ability to accurately report our financial results, prevent fraud, or maintain investor confidence; and other factors described in our filings with the SEC, including in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 13, 2026 and subsequent filings with the SEC. 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. The Joint Business Structure The Joint Corp. is a franchisor of clinics and an operator of clinics in certain states. In Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Illinois, Kansas, Kentucky, Maryland, Michigan, Minnesota, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Tennessee, Washington, and West Virginia, The Joint Corp. and its franchisees provide management services to affiliated professional chiropractic practices. Safe Harbor Statements

 

3NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Sanjiv Razdan CEO, President and Director

 

4NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Joint 2.0 the first phase of our transformation journey is nearing completion, driving renewed growth and stronger profitability ✓ Operating as a capital-light, pure-play franchisor ✓ Driving higher profitability and stronger free cash flow conversion ✓ Significant improvement in our patient retention levels ✓ Disciplined capital allocation

 

5NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Q2 2026 Year-over-Year Improvements Adjusted EBITDA From Continuing Operations +$1.4M $1.5M $1.9M Free Cash Flow +$1.6M Cash flow from operating activities grew 152% to $2.2M $15.2M Revenue From Continuing Operations +14%

 

6NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Refranchising Efforts • Southern California Bundle Ownership transferred for 32 clinics to date1, with 13 remaining clinics being operated by the buyer under Management Service Agreements • Northern California Bundle Signed Asset Purchase Agreement is in place for four clinics • Southeast Bundle Ownership transferred for six clinics to date1, with 15 remaining clinics being operated by the buyers under Management Service Agreements • Only three company-owned clinics will remain following the completion of these agreements 1 As of August 5, 2026.

 

7NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | The Next Phase Of Our Journey Near Term ✓ Further strengthen new patient acquisition and win back lapsed patients ✓ Improve the patient experience ✓ Drive net new clinic growth and optimize current portfolio ✓ Elevate operations and development from recently acquired RD territories Longer Term ✓ Prioritize growth through new channels • Expansion into underpenetrated U.S. markets • Potential entry into international markets ✓ Leverage shifting consumer trends around: • Longevity; health span; mindfulness; sleep quality; non-invasive whole-body care

 

8NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Driving Top-Line Momentum Messaging continues to be on chiropractic care for pain relief, and helping patients get back to what they love to do • Sequential improvement in active member growth each month this year • Increasing focus on our MVPs (most valuable patients) • SEO and AI visibility optimization driving organic traffic and lead quality • Positive trends in traffic and high-intent actions on local clinic microsites • New and expanded flexible membership plan options • Rolled out optimized pricing in over 500 clinics

 

9NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Comp Growth & Patient Retention • Q2 comp sales of (2.8)% improved compared to the first quarter • Comp sales expected to continue improving, throughout the second half of the year • Achieved best patient retention rate in over five years, driven by flexible membership options • Continuing to drive growth through stronger lead generation, improved retention and winning back lapsed patients

 

10NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Scott Bowman Chief Financial Officer

 

11NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | • $128.0M Q2 2026 System-wide Sales1 (3.7)% vs Q2 2025 • (2.8)% Q2 2026 Comp Sales2 140 basis-point improvement vs Q1 2026 • $3.2M Q2 2026 Consolidated Adjusted EBITDA In line with Q2 2025 1 System-wide sales include revenues at all clinics, whether operated or managed 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 revenues 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. Operating Metrics

 

12NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Second Quarter Results $ in Millions 1 3 months ended 06/30/26 3 months ended 06/30/25 Difference Revenue $15.2 $13.3 +$1.9 Cost of revenues $2.5 $2.8 ($0.3) Selling and marketing $4.9 $3.5 +$1.4 Depreciation and amortization $0.4 $0.4 $0.0 G&A $7.6 $7.7 ($0.1) Net loss from continuing operations 2 $(0.3) $(1.0) +$0.7 Net income from discontinued operations 2 $0.9 $1.1 ($0.2) Consolidated net income $0.7 $0.1 +$0.6 Adjusted EBITDA from continuing operations 3 $1.5 $0.1 +$1.4 Adjusted EBITDA from discontinued operations 3 $1.7 $3.2 ($1.5) Consolidated Adjusted EBITDA 3 $3.2 $3.2 $0.0 1 Due to rounding, numbers may not add up precisely to the totals. | 2 The results of the corporate clinic segment are reported in discontinued operations and the franchised clinics in continuing operations | 3 Reconciliation of Adjusted EBITDA to GAAP earnings is included in the Appendix.

 

13NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Strong Balance Sheet & Focused Capital Allocation $ in Millions 06/30/26 12/31/25 Unrestricted cash $22.2 $23.6 Restricted cash $1.7 $0.7 Availability on $20 Million JP Morgan Chase LOC $20.0 $20.0 • Repurchased approximately 82,000 shares for total consideration of approximately $677K, at an average price $8.23 per share • Four year-to-date RD buybacks expected to drive approximately $630K in reduced RD royalties on annualized basis, partially offset by internal costs needed to manage these territories

 

14NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | 12 26 82 175 242 265 309 352 394 453 515 610 712 800 842 885 896 4 47 61 47 48 60 64 96 126 135 125 75 45 1 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q2 2026 TOTAL CLINICS OPEN at quarter-end Franchised Company-owned or managed Clinic Portfolio 1 Includes corporate-owned or managed clinics in the Northern California, Southern California, and Southeast bundles that have been sold, but for which closing is pending. 370 399 442 513 312 246 579 706 838 935 967 960 941

 

15NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | A Starting Point for Higher Profitability ~10% - 12% of System Sales ~83% - 85% of Revenue Asset Capex ~3% of Revenue Free Ca ~60% - 70% FCF Conversion* ~40% - 42% of Revenue Royalties & Fees Gross Margin G&A Expense Capital Spending Free Cash Flow * Free Cash Flow Conversion = FCF/Adj. EBITDA Post-Refranchising Initial / Short-Term Targets (est. mid-2026) Target IRR - Growth Projects 9% ~13% - 15% 2025 3% Mid-2026 expected run rate Net Income 2024 (5)% ~25% Enhanced Near-Term Profitability 12% ~19% - 21% Adj. EBITDA Margin 2025 Mid-2026 expected run rate 2024 The above starting points for the model will continue to strengthen

 

16NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Reiterating 2026 Financial Guidance 2026 Financial Guidance 2025 Low High Actual System-wide Sales 1 ($ in Millions) $519 $552 $532.4 Comp Sales 2 (%) (3)% 3% (0.4)% Consolidated Adjusted EBITDA ($ in Millions) $12.5 $13.5 $13.0 1 System-wide sales include revenues at all clinics, whether operated or managed 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 only the sales from clinics that have been open at least 13 full months and exclude any clinics that have permanently closed. New franchised clinic openings expected to be in range of 22 to 26, with clinic count at the end of 2026 to be lower than 2025 due to reshaping the portfolio around stronger operators and healthier sites

 

17NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Capital Allocation Priorities Investing In Growth Initiatives Buy Back RD Territories Share Repurchases

 

18NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Sanjiv Razdan CEO, President and Director

 

19NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Continued Progress on Reigniting Growth ✓ Y-o-Y Net Income and Adjusted EBITDA growth reflects the progress towards a capital-light, pure-play franchisor model ✓ Securing a strong foundation to launch The Joint 3.0 initiatives ✓ Capital allocation reflects conviction in long-term value of The Joint and commitment to deliver returns for stockholders ✓ We are well-aligned with growing trends in longevity, health span, and non-invasive whole-body care and uniquely positioned to meet this demand at scale

 

20NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Performance Metrics and Non-GAAP Measures This presentation includes commonly discussed performance metrics. System-wide sales include revenues 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. Comp sales include the revenues 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. This presentation includes non-GAAP financial measures. EBITDA and Adjusted EBITDA are presented because they are important measures used by management to assess financial performance, as management believes they provide a more transparent view of the company’s underlying operating performance and operating trends. Free cash flow is presented as a supplemental measure of liquidity. Reconciliation of historical net income/(loss) to EBITDA, Adjusted EBITDA and free cash flow is presented in the tables below. The company defines EBITDA as net income/(loss) before net interest, tax expense, depreciation, and amortization expenses. The company defines Adjusted EBITDA as EBITDA before acquisition-related expenses (which includes contract termination costs associated with reacquired regional developer rights), net (gain)/loss on disposition or impairment, stock-based compensation expenses, costs related to restatement filings, restructuring costs, and litigation expenses (consisting of legal and related fees for specific proceedings that arise outside of the ordinary course of our business). The company defines free cash flow as net cash provided by (used in) operating activities less capital expenditures. EBITDA, Adjusted EBITDA and free cash flow do not represent and should not be considered alternatives to net income or cash flows from operations, as determined by accounting principles generally accepted in the United States (“GAAP”). While EBITDA and Adjusted EBITDA are used as measures of financial performance and free cash flow is used as a measure of liquidity, they are not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the methods of calculation. EBITDA, Adjusted EBITDA and free cash flow should be reviewed in conjunction with the company’s financial statements filed with the Securities and Exchange Commission (the “SEC”). Please refer to the reconciliations of non-GAAP financial measures to their GAAP equivalents located at the end of this presentation. This presentation includes forward- looking guidance for certain non-GAAP financial measures, including Adjusted EBITDA. These measures will differ from net income (loss), determined in accordance with GAAP, in ways similar to those described in the reconciliations at the end of this release. We are not able to provide, without unreasonable effort, guidance for net income (loss), determined in accordance with GAAP, or a reconciliation of guidance for Adjusted EBITDA to the most directly comparable GAAP measure because the company is not able to predict with reasonable certainty the amount or nature of all items that will be included in net income (loss).

 

21NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Quarterly GAAP – Non-GAAP Reconciliation Three Months Ended June 30, 2026 2025 From Continuing Operations From Discontinued Operations Net Operations From Continuing Operations From Discontinued Operations Net Operations Non-GAAP Financial Data: Net (loss) income $ (251,327) $ 904,348 $ 653,021 $ (989,635) $ 1,082,998 $ 93,363 Net interest income (126,439) — (126,439) (159,922) — (159,922) Depreciation and amortization expense 422,861 1,690 424,551 402,295 17,120 419,415 Income tax expense (benefit) 9,108 (2,559) 6,549 11,390 100,201 111,591 EBITDA 54,203 903,479 957,682 (735,872) 1,200,319 464,447 Stock-based compensation expense 423,180 — 423,180 330,988 — 330,988 Acquisition-related expenses 332,005 — 332,005 — — — Net loss on disposition or impairment 208,093 816,466 1,024,559 4,440 1,752,494 1,756,934 Restructuring costs 113,451 (24,422) 89,029 488,493 198,331 686,824 Litigation expenses 321,693 12,005 333,698 — — — Adjusted EBITDA $ 1,452,625 $ 1,707,528 $ 3,160,153 $ 88,049 $ 3,151,144 $ 3,239,193 Three Months Ended June 30, 2026 2025 Cash flows provided by (used in) operating activities $ 2,192,220 $ 868,649 Purchase of property and equipment (256,258) (505,040) Free cash flow $ 1,935,962 $ 363,609 (1) Free cash flow represents cash flows provided by (used in) operating activities less capital expenditures.

 

22NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Scott Bowman, CFO scott.bowman@thejoint.com The Joint Corp. 16767 N. Perimeter Dr., Suite 110, Scottsdale, AZ 85260 | (480) 245-5960 Sanjiv Razdan, President & CEO sanjiv.razdan@thejoint.com The Joint Corp. 16767 N. Perimeter Dr., Suite 110, Scottsdale, AZ 85260 | (480) 245-5960 Richard Land, Investor Relations thejointinvestors@allianceadvisors.com Alliance Advisors Investor Relations 800 Third Ave, 17th Floor | New York, NY 10022| (212) 838-3777 https://www.facebook.com/thejointchiro @thejointchiro https://twitter.com/thejointchiro @thejointchiro https://www.youtube.com/thejointcorp @thejointcorp

 

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