Joint Corp cuts 2026 system-wide sales view to $508M–$512M
JYNT lowered its 2026 sales and comp-sales outlook, while consolidated Adjusted EBITDA guidance remains $12.5 million to $13.5 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
The Joint Corp. (JYNT) reported third-quarter 2026 revenue of $13.6 million, up 1% year over year. Net income from continuing operations was $1.5 million, versus $290,000, and Adjusted EBITDA from continuing operations was $2.3 million, versus $1.4 million. Consolidated results were a $117,000 net loss, compared with $855,000 net income a year earlier.
System-wide sales were $123.3 million, down 3.1%, while comp sales were (1.9)%, compared with (2.8)% in the second quarter of 2026. Operating cash flow was $128,000 used, versus $1.8 million provided in the year-ago quarter. The company revised 2026 system-wide sales guidance to $508 million–$512 million from $519 million–$552 million and comp-sales guidance to (3.5)%–(2.5)% from (3)%–3%; consolidated Adjusted EBITDA guidance remains $12.5 million–$13.5 million.
On October 1, 2026, the company reacquired Texas regional developer rights covering 141 franchised clinics for $8.0 million cash due at closing, plus up to $2.0 million if certain gross-sales metrics are met or exceeded during the two annual periods after closing. The board authorized up to an additional $5.0 million for repurchases until November 4, 2027, or until exhausted or terminated by the board.
2 points · 0 major1 major · 3 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointContinuing-operations net income reached $1.5 million, versus $290,000.
- Moderate pointAdjusted EBITDA from continuing operations rose to $2.3 million, from $1.4 million.
Negative
- Major point. Forward-looking: it has not happened yet and may not happen.2026 system-wide sales guidance was revised to $508–$512 million, below the prior $519–$552 million range.
- Moderate pointQuarterly operating cash flow was $128,000 used, versus $1.8 million provided in Q3 2025.
- Minor pointConsolidated results were a $117,000 net loss, versus $855,000 net income a year earlier.
8-K Event Classification
4 items: 2.02, 7.01, 8.01, 9.01
4 items
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 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Revenue: $13.6 million
System-wide sales: $123.3 million
Net income from continuing operations: $1.5 million
+5 more
8 metrics
Revenue
$13.6 million
Third quarter of 2026; up 1% year over year
System-wide sales
$123.3 million
Third quarter of 2026; down 3.1% year over year
Net income from continuing operations
$1.5 million
Third quarter of 2026; compared with $290,000 a year earlier
Adjusted EBITDA from continuing operations
$2.3 million
Third quarter of 2026; compared with $1.4 million a year earlier
Consolidated net income (loss)
$117,000 net loss
Third quarter of 2026; compared with $855,000 net income a year earlier
Cash flow from operating activities
$128,000 used
Third quarter of 2026; compared with $1.8 million provided in Q3 2025
2026 system-wide sales guidance
$508 million to $512 million
Updated range; prior range was $519 million to $552 million
Additional stock repurchase authorization
$5.0 million
Authorized November 3, 2026
Key Terms
System-wide sales, Comp sales, Adjusted EBITDA, Free cash flow, +1 more
5 terms
System-wide sales financial
"System-wide sales include revenues at all clinics"
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
"Comp sales include the revenues from both company-owned or managed clinics"
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 as EBITDA before acquisition-related expenses"
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
"The Company defines free cash flow as net cash provided by (used in) operating activities less capital expenditures."
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.
regional developer rights financial
"reacquired the regional developer (“RD”) rights for Texas"
Earnings Snapshot
Revenue: $13.6 million · Guidance included
Third quarter ended September 30, 2026
Revenue
$13.6 million
+1% year over year
Net income from continuing operations
$1.5 million
Increased by $1.2 million year over year
Adjusted EBITDA from continuing operations
$2.3 million
Increased by $0.9 million year over year
Consolidated net income (loss)
$117,000 net loss
Compared with $855,000 net income in Q3 2025
Guidance
System-wide sales: $508 million to $512 million; system-wide comp sales: (3.5)% to (2.5)%; consolidated Adjusted EBITDA: $12.5 million to $13.5 million.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How did JYNT perform in Q3 2026?
JYNT reported $13.6 million in third-quarter revenue, up 1% year over year, and $1.5 million in net income from continuing operations, compared with $290,000 a year earlier. Consolidated results were a $117,000 net loss, versus $855,000 net income in Q3 2025.
What is JYNT's updated 2026 guidance?
JYNT's updated guidance expects system-wide sales of $508 million to $512 million and system-wide comp sales of (3.5)% to (2.5)%. Consolidated Adjusted EBITDA guidance remains $12.5 million to $13.5 million.
What are the terms of JYNT's Texas regional developer-rights reacquisition?
The Joint Corp. reacquired the Texas regional developer rights on October 1, 2026, for $8.0 million in cash due at closing, plus up to $2.0 million of additional consideration if certain Texas-region gross-sales metrics are met or exceeded during the two annual periods following closing.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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): November 3, 2026
The Joint Corp.
(Exact Name of Registrant as Specified in Charter)
| (State or other jurisdiction | (Commission File Number) | (IRS Employer | ||||||
| of incorporation) | Identification No.) | |||||||
(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:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
The | ||||||||||||||
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 November 5, 2026, we issued a press release announcing our financial results for the quarter ended September 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 November 5, 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 8.01. Other Events.
On November 3, 2026, our Board of Directors authorized an additional $5.0 million under our previously approved stock repurchase program. The currently approved program now authorizes the repurchase of up to an additional $5.0 million of our common stock, par value $0.001 per share, from time to time until November 4, 2027 or such other date as we have exhausted, or the Board of Directors otherwise terminates, the repurchase authorization. The timing, volume, price, and terms of the repurchases will depend on market and business conditions, applicable legal requirements, and other factors. The repurchases may be made on the open market, in privately negotiated transactions, or in such other manner (e.g., accelerated share repurchase transactions, block trades, derivatives, or otherwise) that complies with the terms of applicable federal and state securities laws and regulations.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | Exhibits | |||||||
| 99.1 | Press Release, dated November 5, 2026, Earnings Release | |||||||
| 99.2 | The Joint Corp. Earnings Presentation, dated November 5, 2026 | |||||||
| 104 | Cover 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: | November 5, 2026 | By: | /s/ Sanjiv Razdan | ||||||||
| Sanjiv Razdan | |||||||||||
| President and Chief Executive Officer | |||||||||||
Exhibit 99.1
The Joint Corp. Reports Third Quarter 2026 Financial Results
- Revenue Increases to $13.6 Million -
- Net Income from Continuing Operations Increases by $1.2 Million to $1.5 Million and Adjusted EBITDA From Continuing Operations Increases by $0.9 Million to $2.3 Million -
- Continued Execution on Capital Allocation Priorities with Regional Developer Territory Buybacks and $3.8 Million in Stock Repurchases -
- Board of Directors Authorizes an Additional $5.0 Million for Stock Repurchases -
SCOTTSDALE, Ariz., November 5, 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 third quarter ended September 30, 2026. The following figures represent continuing operations unless otherwise stated. The Company also updated its full year 2026 guidance (see details below).
Third Quarter 2026 Financial Highlights
•Revenues grew to $13.6 million, up 1% compared to the third quarter of 2025.
•System-wide sales1 were $123.3 million, a 3.1% decrease compared to the third quarter of 2025.
•Reported comp sales2 of (1.9)%, compared to (2.8)% in the second quarter of 2026.
•Net loss from consolidated operations was $117,000, compared to net income from consolidated operations of $855,000 in the third quarter of 2025. Net income from continuing operations was $1.5 million, compared to net income from continuing operations of $290,000 in the third quarter of 2025.
•Adjusted EBITDA (a non-GAAP metric) from consolidated operations was $3.3 million, in line with $3.3 million in the third quarter of 2025. Adjusted EBITDA from continuing operations was $2.3 million, compared to $1.4 million in the third quarter of 2025.
•Cash flow used in operating activities was $128,000, compared to cash provided by operating activities of $1.8 million in the third quarter of 2025, and free cash flow (a non-GAAP metric) was $(509,000), compared to $1.5 million in the third quarter of 2025.
•Repurchased 461,000 shares for total consideration of approximately $3.8 million at an average of $8.30 per share during the third quarter.
Third Quarter 2026 and Recent Operating Highlights
•On October 1, 2026, the Company reacquired the regional developer (“RD”) rights for Texas, a region consisting of 141 franchised clinics, for total cash consideration of $8.0 million due at closing and up to $2.0 million in potential additional consideration payments if certain gross sales metrics are met or exceeded in the Texas region during the two annual periods following the closing.
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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◦Year to date in 2026, the Company has reacquired the RD rights to five territories, including Texas, consisting of 189 franchised clinics. These efforts will lead to the realization of approximately $3.0 million in reduced RD royalties on an annualized basis, with approximately one-third of this benefit being offset by internal costs to manage these territories.
•Total clinic count was 930 at September 30, 2026.
◦Opened four clinics, closed 15 clinics, and refranchised 26 clinics during the quarter, for a total of 915 franchised clinics and 15 company-owned or managed clinics at September 30, 2026.
“Our third quarter results reflect growth in our active membership count as well as in the lifetime value per active member,” said President and Chief Executive Officer of The Joint Corp., Sanjiv Razdan. “By leaning into our value proposition, especially with our newer flexible membership options, we are driving more members to stay with us longer. Primarily reflecting the ongoing macroeconomic challenges, growth in these metrics is partially offset by lower average patient spend per month and fewer new patients, which is continuing to impact our comps. We believe our ability to grow our active membership count and our stronger new clinic performance, is strengthening our foundation for future growth.”
“Our success with our clinic refranchising efforts has positioned The Joint as a pure-play franchisor model, which, combined with RD territory buybacks already completed this year, is helping to drive margin improvement, profitability and cash flow. With our strong balance sheet and improving cash generation from continuing operations, we have the financial flexibility to continue to execute simultaneously on our growth strategies, RD territory buybacks and continued stock repurchase capital allocation priorities. Our additional $5 million stock repurchase authorization reflects our confidence that our asset-light franchise model and initiatives to reignite growth will help create long-term value for our stockholders.”
Continued Execution on Stock Repurchase Program
The Company’s initiative to refranchise previously company-owned or managed clinics to drive higher cash flows derived from an asset-light franchise model began in 2023, opening a pathway for the Company to begin executing on its first stock repurchase program. Since June 3, 2025, the Company has repurchased 1,975,352 shares for total consideration of $17 million.
During the third quarter of 2026, the Company repurchased approximately 461,000 shares for total consideration of approximately $3.8 million, at an average price of $8.30 per share. As of September 30, 2026, the Company had exhausted the full $12 million of the latest authorization for repurchasing shares.
On November 3, 2026, the Company’s Board of Directors authorized an additional $5 million for stock repurchases. Repurchases under this program may be made from time to time in open market transactions, privately negotiated transactions, or by other means in accordance with applicable securities laws and are subject to market conditions and other factors. The timing, frequency and amount of any repurchases will be determined by the Company’s management and Board of Directors. The stock repurchase program does not obligate the Company to acquire any particular amount of common stock.
Update on Refranchising Efforts
The Company has substantially completed the refranchising initiative under its Joint 2.0 strategy through previously announced clinic sale bundles:
•Southern California Bundle: Forty of the 45 clinics have been refranchised to date.
•Northern California Bundle: All four of these clinics have been refranchised to date.
•Southeast Bundle: Ten of the 20 clinics have been refranchised to date.
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As a result of these refranchising efforts, The Company now operates as a capital-light, pure-play franchisor, allowing management to concentrate on driving growth through franchise system support, new patient acquisition, and long-term network development.
Financial Results for Third Quarter Ended September 30, 2026 Compared to September 30, 2025
Revenue totaled $13.6 million in the third quarter of 2026, compared to $13.4 million in the third quarter of 2025, reflecting the Company's continued transition to a pure-play franchisor revenue model. Cost of revenues was $2.4 million, down 10% 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 $2.7 million, a decrease of 4% compared to the third quarter of 2025, primarily due to lower system-wide sales. Depreciation and amortization expenses were $262,000. General and administrative expenses decreased 6% to $6.9 million compared to $7.3 million in the third quarter of 2025, underscoring ongoing operating discipline within the leaner post-refranchising structure.
Consolidated net loss was $117,000, compared to a consolidated net income of $855,000 in the prior-year period. Net income from continuing operations was $1.5 million, compared to $290,000 in the third quarter of 2025. Consolidated EPS was $(0.01) per share, compared to $0.06 per diluted share in the third quarter of 2025.
Adjusted EBITDA from consolidated operations was $3.3 million, in line with $3.3 million in the third quarter of 2025. Adjusted EBITDA from continuing operations was $2.3 million, compared to $1.4 million in the prior-year period.
Balance Sheet
Unrestricted cash was $18.3 million at September 30, 2026, compared to $22.2 million at June 30, 2026. The Company maintains a currently undrawn line of credit with JPMorgan Chase Bank, which provides immediate access to $20 million through August 2029.
Financial Results for Nine Months Ended September 30, 2026 Compared to September 30, 2025
Revenue was $43.6 million in the first nine months of 2026, up 10% compared to $39.7 million in the same period in 2025. Consolidated net income was $1.8 million, compared to $1.9 million in the nine months ended September 30, 2025. Net income from continuing operations was $2.3 million, compared to a net loss from continuing operations of $1.2 million in the nine months ended September 30, 2025. Consolidated EPS was $0.13 per diluted share, compared to $0.12 per diluted share in the prior-year period.
Adjusted EBITDA from consolidated operations increased to $9.9 million and Adjusted EBITDA from continuing operations increased to $5.9 million, compared to Adjusted EBITDA from consolidated operations of $9.4 million and Adjusted EBITDA from continuing operations of $1.5 million in the nine months ended September 30, 2025.
2026 Guidance
Reflecting continued macroeconomic pressures on consumer spending and the reported financial results for the first nine months of 2026, the Company today updated its 2026 full year financial guidance provided on August 6, 2026, as follows:
•System-wide sales are now expected to be between $508 million and $512 million as compared to the prior range of $519 million to $552 million.
•System-wide comp sales for clinics open 13 months or more are now expected to be in the range of (3.5)% to (2.5)% as compared to the prior range of (3)% to 3%.
•Consolidated Adjusted EBITDA is unchanged and is expected to be in the range of $12.5 million to $13.5 million.
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The Company continues to work 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 approximately 50 clinics lower than 2025 year-end.
Conference Call
The Joint Corp. management will host a conference call at 5:00 p.m. ET on Thursday November 5, 2026, after the market close. Stockholders and interested participants may listen to a live broadcast of the conference call by dialing (833) 630-0823 or (412) 317-1831 and asking to be joined into the “The Joint” call 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, November 12, 2026, and can be accessed by dialing (855) 669-9658 or (412) 317-0088 and entering conference ID 4727728.
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 925 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 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
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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 and Adjusted EBITDA and reconciliation of operating activities cash flows to 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 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 our efforts to reacquire the RD rights to five territories will lead to the realization of approximately $3.0 million in reduced RD royalties on an annualized basis, with approximately one-third of this benefit being offset by internal costs to manage these territories; our belief that our third quarter results reflect growth in our active membership count as well as in the LTV per active member; our belief that by leaning into our value proposition, including with our newer flexible membership options, we are driving more members to stay with us longer; our belief that, primarily reflecting the ongoing macroeconomic challenges, growth in these metrics is partially offset by lower average patient spend per month and fewer new patients, which is continuing to impact our comps; our belief that our ability to grow our active membership count, combined with improving patient conversion and retention rates as well as our stronger new clinic performance, is [strengthening/establishing] our foundation for future growth; our belief that our success with our clinic refranchising efforts has positioned The Joint with a pure-play franchisor model, which, combined with RD territory buybacks already completed this year, is helping to drive margin improvement, profitability and growing cash flow; our belief that, with our strong balance sheet and improving cash generation from continuing operations, we have the financial flexibility to continue to execute simultaneously on our growth strategies, RD territory buybacks and continued share repurchase capital allocation priorities; our belief that our additional $5 million share repurchase authorization reflects our confidence that our asset-light
5
franchise model and initiatives to reignite growth will help create long-term value for our stockholders; and our updated 2026 guidance for system-wide sales, system-wide comp sales, consolidated Adjusted EBITDA, existing franchised clinic closures, 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 –
6
THE JOINT CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
| September 30, 2026 | December 31, 2025 | ||||||||||
| ASSETS | (unaudited) | ||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 18,299,059 | $ | 23,601,810 | |||||||
| Restricted cash | 569,643 | 700,058 | |||||||||
| Accounts receivable, net | 2,475,757 | 2,849,864 | |||||||||
| Notes receivable | 109,833 | — | |||||||||
| Deferred franchise and regional development costs, current portion | 880,954 | 945,933 | |||||||||
| Prepaid expenses and other current assets | 3,049,327 | 1,744,556 | |||||||||
Discontinued operations current assets ($1.0 million attributable to VIEs) | 7,486,845 | 22,246,318 | |||||||||
| Total current assets | 32,871,418 | 52,088,539 | |||||||||
| Property and equipment, net | 2,800,073 | 3,159,226 | |||||||||
| Operating lease right-of-use asset | 1,395,838 | 1,572,173 | |||||||||
| Notes receivable, net of current portion | 325,374 | — | |||||||||
| Deferred franchise and regional development costs, net of current portion | 3,043,629 | 3,827,129 | |||||||||
| Deposits and other assets | 262,308 | 319,460 | |||||||||
| Total assets | $ | 40,698,640 | $ | 60,966,527 | |||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 749,976 | $ | 1,588,665 | |||||||
| Accrued expenses | 1,633,471 | 1,501,838 | |||||||||
| Co-op funds liability | 569,643 | 700,058 | |||||||||
| Payroll liabilities | 2,984,053 | 4,055,752 | |||||||||
| Operating lease liability, current portion | 349,447 | 194,179 | |||||||||
| Deferred franchise fee revenue, current portion | 2,495,505 | 2,519,018 | |||||||||
| Upfront regional developer fees, current portion | 164,564 | 277,394 | |||||||||
| Other current liabilities | 616,877 | 611,231 | |||||||||
Discontinued operations current liabilities ($1.2 million and $6.1 million attributable to VIEs, respectively) | 7,184,973 | 21,368,446 | |||||||||
| Total current liabilities | 16,748,509 | 32,816,581 | |||||||||
| Operating lease liability, net of current portion | 1,605,077 | 1,815,527 | |||||||||
| Deferred franchise fee revenue, net of current portion | 9,896,113 | 10,899,271 | |||||||||
| Upfront regional developer fees, net of current portion | 181,788 | 355,556 | |||||||||
| Total liabilities | 28,431,487 | 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, 15,719,285 shares issued and 13,701,928 shares outstanding and 15,471,715 shares issued and 14,142,626 shares outstanding, respectively | 15,719 | 15,471 | |||||||||
| Additional paid-in capital | 53,102,139 | 52,026,407 | |||||||||
Treasury stock 2,017,357 shares and 1,329,089 shares, at cost, respectively | (17,915,296) | (12,192,081) | |||||||||
| Accumulated deficit | (22,960,409) | (24,795,205) | |||||||||
| Total The Joint Corp. stockholders' equity | 12,242,153 | 15,054,592 | |||||||||
| Non-controlling interest | 25,000 | 25,000 | |||||||||
| Total equity | 12,267,153 | 15,079,592 | |||||||||
| Total liabilities and stockholders' equity | $ | 40,698,640 | $ | 60,966,527 | |||||||
7
THE JOINT CORP.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||
| Revenues: | ||||||||||||||||||||||||||
| Royalty fees | $ | 8,254,366 | $ | 8,106,915 | $ | 24,614,204 | $ | 24,311,022 | ||||||||||||||||||
| Franchise fees | 893,882 | 964,796 | 2,789,537 | 2,561,415 | ||||||||||||||||||||||
| Advertising fund revenue | 2,391,339 | 2,344,833 | 9,754,259 | 6,985,030 | ||||||||||||||||||||||
| Software fees | 1,578,567 | 1,545,331 | 4,660,799 | 4,488,959 | ||||||||||||||||||||||
| Other revenues | 433,554 | 418,810 | 1,735,056 | 1,382,119 | ||||||||||||||||||||||
| Total revenues | 13,551,708 | 13,380,685 | 43,553,855 | 39,728,545 | ||||||||||||||||||||||
| Cost of revenues: | ||||||||||||||||||||||||||
| Franchise and regional developer cost of revenues | 1,980,494 | 2,232,419 | 6,320,591 | 7,134,267 | ||||||||||||||||||||||
| IT cost of revenues | 423,074 | 428,815 | 1,282,882 | 1,271,700 | ||||||||||||||||||||||
| Total cost of revenues | 2,403,568 | 2,661,234 | 7,603,473 | 8,405,967 | ||||||||||||||||||||||
| Selling and marketing expenses | 2,704,777 | 2,816,081 | 11,307,832 | 9,805,075 | ||||||||||||||||||||||
| Depreciation and amortization | 261,779 | 446,736 | 1,081,333 | 1,210,961 | ||||||||||||||||||||||
| General and administrative expenses | 6,851,612 | 7,295,719 | 21,492,814 | 21,955,915 | ||||||||||||||||||||||
Total selling, general and administrative expenses | 9,818,168 | 10,558,536 | 33,881,979 | 32,971,951 | ||||||||||||||||||||||
| Net loss on disposition or impairment | — | — | 233,420 | 6,413 | ||||||||||||||||||||||
| Income (loss) from continuing operations | 1,329,972 | 160,915 | 1,834,983 | (1,655,786) | ||||||||||||||||||||||
| Other income, net | 136,417 | 139,801 | 503,090 | 485,640 | ||||||||||||||||||||||
| Income (loss) before income tax expense | 1,466,389 | 300,716 | 2,338,073 | (1,170,146) | ||||||||||||||||||||||
| Income tax expense | 10,069 | 10,346 | 30,289 | 35,140 | ||||||||||||||||||||||
| Net income (loss) from continuing operations | 1,456,320 | 290,370 | 2,307,784 | (1,205,286) | ||||||||||||||||||||||
| Discontinued operations: | ||||||||||||||||||||||||||
| (Loss) income from discontinued operations before income tax expense | (1,593,877) | 664,269 | (313,375) | 3,424,697 | ||||||||||||||||||||||
| Income tax (benefit) expense from discontinued operations | (20,197) | 99,630 | 159,613 | 303,243 | ||||||||||||||||||||||
| Net (loss) income from discontinued operations | (1,573,680) | 564,639 | (472,988) | 3,121,454 | ||||||||||||||||||||||
| Net (loss) income | $ | (117,360) | $ | 855,009 | $ | 1,834,796 | $ | 1,916,168 | ||||||||||||||||||
| Net income (loss) from continuing operations per common share: | ||||||||||||||||||||||||||
| Basic | $ | 0.10 | $ | 0.02 | $ | 0.16 | $ | (0.08) | ||||||||||||||||||
| Diluted | $ | 0.10 | $ | 0.02 | $ | 0.16 | $ | (0.08) | ||||||||||||||||||
| Net (loss) income from discontinued operations per common share: | ||||||||||||||||||||||||||
| Basic | $ | (0.11) | $ | 0.04 | $ | (0.03) | $ | 0.20 | ||||||||||||||||||
| Diluted | $ | (0.11) | $ | 0.04 | $ | (0.03) | $ | 0.20 | ||||||||||||||||||
| Net (loss) income per common share: | ||||||||||||||||||||||||||
| Basic | $ | (0.01) | $ | 0.06 | $ | 0.13 | $ | 0.12 | ||||||||||||||||||
| Diluted | $ | (0.01) | $ | 0.06 | $ | 0.13 | $ | 0.12 | ||||||||||||||||||
| Basic weighted average shares | 14,030,130 | 15,344,844 | 14,151,503 | 15,281,775 | ||||||||||||||||||||||
| Diluted weighted average shares | 14,032,055 | 15,398,594 | 14,154,157 | 15,348,944 | ||||||||||||||||||||||
8
THE JOINT CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
| Nine Months Ended September 30, | ||||||||||||||
| 2026 | 2025 | |||||||||||||
| Cash flows from operating activities: | ||||||||||||||
| Net income | $ | 1,834,796 | $ | 1,916,168 | ||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||
| Depreciation and amortization | 1,090,914 | 1,270,776 | ||||||||||||
| Net loss on disposition or impairment | 3,512,246 | 3,752,862 | ||||||||||||
| Net franchise fees recognized upon termination of franchise agreements | (417,315) | (257,797) | ||||||||||||
| Provision for credit losses | 330,621 | 149,719 | ||||||||||||
| Stock-based compensation expense | 1,038,752 | 971,138 | ||||||||||||
| Changes in operating assets and liabilities, net of acquisitions: | ||||||||||||||
| Accounts receivable | 288,722 | 1,464,026 | ||||||||||||
| Prepaid expenses and other current assets | (794,596) | (424,897) | ||||||||||||
| Deferred franchise costs | 621,762 | 382,986 | ||||||||||||
| Deposits and other assets | 164,494 | (19,280) | ||||||||||||
| Accounts payable | (897,087) | (649,903) | ||||||||||||
| Accrued expenses | (1,227,636) | (3,475,804) | ||||||||||||
| Payroll liabilities | (1,902,615) | (925,440) | ||||||||||||
| Operating leases | (2,166,672) | (3,843,956) | ||||||||||||
| Deferred revenue | (1,397,169) | (1,643,696) | ||||||||||||
| Upfront regional developer fees | (286,597) | (215,524) | ||||||||||||
| Other liabilities | 794,968 | 489,649 | ||||||||||||
| Net cash provided by (used in) operating activities | 587,588 | (1,058,973) | ||||||||||||
| Cash flows from investing activities: | ||||||||||||||
| Proceeds from sale of clinics | 1,426,000 | 7,778,287 | ||||||||||||
| Purchase of property and equipment | (871,031) | (1,154,385) | ||||||||||||
| Net cash provided by investing activities | 554,969 | 6,623,902 | ||||||||||||
| Cash flows from financing activities: | ||||||||||||||
| Payments of finance lease obligation | — | (4,354) | ||||||||||||
| Purchases of treasury stock under employee stock plans | (76,818) | (8,440) | ||||||||||||
| Purchases of common stock under stock repurchase programs | (5,646,397) | (2,288,994) | ||||||||||||
| Proceeds from exercise of stock options | 37,228 | 1,453,558 | ||||||||||||
| Net cash used in financing activities | (5,685,987) | (848,230) | ||||||||||||
| (Decrease) increase in cash, cash equivalents and restricted cash | (4,543,430) | 4,716,699 | ||||||||||||
| Cash, cash equivalents and restricted cash, beginning of period | 24,301,868 | 25,996,436 | ||||||||||||
| Cash, cash equivalents and restricted cash, end of period | $ | 19,758,438 | $ | 30,713,135 | ||||||||||
| Reconciliation of cash, cash equivalents and restricted cash: | September 30, 2026 | September 30, 2025 | ||||||||||||
| Cash and cash equivalents | $ | 18,299,059 | $ | 29,699,953 | ||||||||||
| Restricted cash | 1,459,379 | 1,013,182 | ||||||||||||
| Cash, cash equivalents and restricted cash, end of period | $ | 19,758,438 | $ | 30,713,135 | ||||||||||
9
THE JOINT CORP.
CONSOLIDATED RECONCILIATION FROM GAAP TO NON-GAAP
(unaudited)
| Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||
| 2026 | 2025 | ||||||||||||||||||||||||||||||||||
| From Continuing Operations | From Discontinued Operations | Net Operations | From Continuing Operations | From Discontinued Operations | Net Operations | ||||||||||||||||||||||||||||||
| Non-GAAP Financial Data: | |||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 1,456,320 | $ | (1,573,680) | $ | (117,360) | $ | 290,370 | $ | 564,639 | $ | 855,009 | |||||||||||||||||||||||
| Net interest income | (136,417) | — | (136,417) | (253,277) | — | (253,277) | |||||||||||||||||||||||||||||
| Depreciation and amortization expense | 261,779 | 134 | 261,913 | 446,736 | 16,310 | 463,046 | |||||||||||||||||||||||||||||
| Income tax expense (benefit) | 10,069 | (20,197) | (10,128) | 10,346 | 99,630 | 109,976 | |||||||||||||||||||||||||||||
| EBITDA | 1,591,751 | (1,593,743) | (1,992) | 494,175 | 680,579 | 1,174,754 | |||||||||||||||||||||||||||||
| Stock-based compensation expense | 335,572 | — | 335,572 | 346,209 | — | 346,209 | |||||||||||||||||||||||||||||
| Net loss on disposition or impairment | — | 2,084,596 | 2,084,596 | — | 860,598 | 860,598 | |||||||||||||||||||||||||||||
| Costs related to restatement filings | — | — | — | 113,477 | — | 113,477 | |||||||||||||||||||||||||||||
| Restructuring costs | 192,156 | 109,492 | 301,648 | 355,042 | 102,024 | 457,066 | |||||||||||||||||||||||||||||
| Litigation expenses | 148,480 | 401,943 | 550,423 | 100,000 | 250,000 | 350,000 | |||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 2,267,959 | $ | 1,002,288 | $ | 3,270,247 | $ | 1,408,903 | $ | 1,893,201 | $ | 3,302,104 | |||||||||||||||||||||||
| Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||
| 2026 | 2025 | ||||||||||||||||||||||||||||||||||
| From Continuing Operations | From Discontinued Operations | Net Operations | From Continuing Operations | From Discontinued Operations | Net Operations | ||||||||||||||||||||||||||||||
| Non-GAAP Financial Data: | |||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 2,307,784 | $ | (472,988) | $ | 1,834,796 | $ | (1,205,286) | $ | 3,121,454 | $ | 1,916,168 | |||||||||||||||||||||||
| Net interest (income) expense | (504,605) | — | (504,605) | (599,116) | 239 | (598,877) | |||||||||||||||||||||||||||||
| Depreciation and amortization expense | 1,081,333 | 9,581 | 1,090,914 | 1,210,961 | 59,815 | 1,270,776 | |||||||||||||||||||||||||||||
| Income tax expense | 30,289 | 159,613 | 189,902 | 35,140 | 303,243 | 338,383 | |||||||||||||||||||||||||||||
| EBITDA | 2,914,801 | (303,794) | 2,611,007 | (558,301) | 3,484,751 | 2,926,450 | |||||||||||||||||||||||||||||
| Stock-based compensation expense | 1,038,752 | — | 1,038,752 | 971,138 | — | 971,138 | |||||||||||||||||||||||||||||
| Acquisition-related expenses | 332,005 | — | 332,005 | — | — | — | |||||||||||||||||||||||||||||
| Net loss on disposition or impairment | 233,420 | 3,278,826 | 3,512,246 | 6,413 | 3,746,449 | 3,752,862 | |||||||||||||||||||||||||||||
| Costs related to restatement filings | — | — | — | 113,477 | — | 113,477 | |||||||||||||||||||||||||||||
| Restructuring costs | 932,493 | 166,275 | 1,098,768 | 910,619 | 371,739 | 1,282,358 | |||||||||||||||||||||||||||||
| Litigation expenses | 495,174 | 823,719 | 1,318,893 | 100,000 | 250,000 | 350,000 | |||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 5,946,645 | $ | 3,965,026 | $ | 9,911,671 | $ | 1,543,346 | $ | 7,852,939 | $ | 9,396,285 | |||||||||||||||||||||||
10
THE JOINT CORP.
RECONCILIATION OF OPERATING ACTIVITIES CASH FLOWS TO FREE CASH FLOW(1)
(unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||
| Cash flows (used in) provided by operating activities | $ | (128,462) | $ | 1,773,032 | $ | 587,588 | $ | (1,058,973) | ||||||||||||||||||
| Purchase of property and equipment | (380,173) | (317,840) | (871,031) | (1,154,385) | ||||||||||||||||||||||
| Free cash flow | $ | (508,635) | $ | 1,455,192 | $ | (283,443) | $ | (2,213,358) | ||||||||||||||||||
| (1) Free cash flow represents cash flows (used in) provided by operating activities less capital expenditures. | ||||||||||||||||||||||||||
11
1NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Q3 2026 Financial Results As of September 30, 2026, reported on November 5, 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," "e xpects," "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 our efforts to reacquire the RD rights to five territories will lead to the realization of approximately $3.0 million in reduced RD royalties on an annualized basis, with approximately one-third of this benefit being offset by internal costs to manage these territories; our belief that our third quarter results reflect growth in our active membership count as well as in the LTV per active member; our belief that by leaning into our value proposition, including with our newer flexible membership options, we are d riving more members to stay with us longer; our belief that, primarily reflecting the ongoing macroeconomic challenges, growth in these metrics is partially offset by lower average patient spend per month and fewer new patients, which is continuing to impact our comps; our belief that our ability to grow our active membership count, combined with improving pati ent conversion and retention rates as well as our stronger new clinic performance, is [strengthening/establishing] our foundation for future growth; our belief that our success with our clinic refranchising efforts has positioned The Joint with a pure-play franchisor model, which, combined with RD territory buybacks already completed this year, is helping to drive margin improvement, profitability and growing cash flow; our belief that, with our strong balance sheet and improving cash generation from continuing operations, we have the financial flexibility to continue to execute simultaneously on our growth strategies, RD territory buybacks and continued share repurchase capital allocation priorities; our belief that our additional $5 million share repurchase authorization reflects our confidence that our asset-light franchise model and initiatives to reignite growth will help create long-term value for our stockholders; and our updated 2026 guidance for system-wide sales, system-wide comp sales, consolidated Adjusted EBITDA, existing franchised clinic closures, 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 resul ts, 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. | A Capital-light, Pure-play Franchisor Strengthened patient engagement and our reshaped operating model helped drive revenue growth and stronger profitability from continuing operations o Growing active membership count and patient retention supported higher patient lifetime value o Comps negative primarily due to pressure on consumer spending, but improved quarter-over-quarter o Capital-light model driving revenue growth and stronger profitability
5NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Q3 2026 Year-over-Year Improvements Adjusted EBITDA From Continuing Operations +$0.9M $2.3M$13.6M Total Revenue +1% $1.5M Net Income from Continuing Operations +$1.2M
6NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Membership & Patient Metrics • Improved conversion and retention supported active membership count quarter-over-quarter • Gains in lifetime value by increased number of months per active member, and total dollars per active member • Lower average patient spend per month partially offset these benefits in Q3 2026 • Continuing to build the active member base and delivering value that supports patients and franchisees
7NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Three Growth Pillars Strategies To Improve Comp Sales: • Strengthen patient acquisition with AI-powered lead management and digital visibility efforts • Improve conversion and retention with flexible plans and personalized engagement • Win back lapsed patients through targeted outreach and promotions Improve Comp Sales Expand Clinic Network Leverage Interest in Longevity & Healthspan 1 2 3
8NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Strategies: • Improve new clinic economics, with 2026 openings reaching breakeven in ~3 months versus 18 months historically • Attract well-capitalized, experienced multi-unit franchisees, support existing franchisee expansion, and broaden recruitment through a franchise broker network • Advance development in reacquired regional developer territories Expanding Our Clinic Network
9NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Growing Interest in Longevity & Healthspan Strategies: • Use consumer research to personalize the patient experience, emphasizing pain relief, improved mobility and longer-term engagement • Test proprietary clinical care protocols with measurable outcomes to demonstrate patient progress • Pilot complementary retail offerings, including orthotics and supplements
10NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Refranchising Efforts • Once the 15 remaining lease assignments are completed, there will be no remaining company-owned or managed clinics • Benefits of the model are increasingly visible in results • Growth initiatives have better positioned the Company to convert future growth into earnings and cash flow 1 As of November 4, 2026
11NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Scott Bowman Chief Financial Officer
12NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | • $123.3M Q3 2026 System-wide Sales1 (3.1)% vs Q3 2025 • (1.9)% Q3 2026 Comp Sales2 90 basis-point improvement vs Q2 2026 • $3.3M Q3 2026 Consolidated Adjusted EBITDA In line with Q3 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
13NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Third Quarter Results $ in Millions 1 3 months ended 09/30/26 3 months ended 09/30/25 Difference Revenue $13.6 $13.4 +$0.2 Cost of revenues $2.4 $2.7 ($0.3) Selling and marketing expenses $2.7 $2.8 ($0.1) Depreciation and amortization $0.3 $0.4 ($0.1) G&A expenses $6.9 $7.3 ($0.4) Net income (loss) from continuing operations 2 $1.5 $0.3 +$1.2 Net (loss) income from discontinued operations 2 $(1.6) $0.6 ($2.2) Consolidated net (loss) income $(0.1) $0.9 ($1.0) Adjusted EBITDA from continuing operations 3 $2.3 $1.4 +$0.9 Adjusted EBITDA from discontinued operations 3 $1.0 $1.9 ($0.9) Consolidated Adjusted EBITDA 3 $3.3 $3.3 $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.
14NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Strong Balance Sheet $ in Millions 09/30/26 06/30/26 Unrestricted cash $18.3 $22.2 Restricted cash $1.5 $1.7 Availability on $20M JP Morgan Chase LOC $20.0 $20.0 Provides flexibility to execute our capital allocation framework, while maintaining appropriate liquidity
15NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | • Balancing system-wide growth, RD territory buybacks and stock repurchases • Improved economics and franchisee support through five RD territory buybacks year-to-date • Returned capital opportunistically; repurchased ~461,000 shares for ~$3.8 million in Q3, completing the prior $12 million authorization • Additional $5 million authorized for stock repurchases after quarter-end Growth Initiatives RD Buybacks Stock Repurchases Capital Allocation
16NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | 12 26 82 175 242 265 309 352 394 453 515 610 712 800 842 885 915 4 47 61 47 48 60 64 96 126 135 125 75 15 1 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q3 2026 TOTAL CLINICS OPEN at quarter-end Franchised Company-owned or managed Clinic Portfolio 1 Includes corporate-owned or managed clinics that have been sold, but for which closing is pending. 370 399 442 513 312 246 579 706 838 935 967 960 930
17NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | A Starting Point for Higher Profitability ~10% - 12% of System Sales ~83% - 85% of Revenue Asset Capex ~3% of Revenue Free Ca ~60% - 70% FCF Conversion* ~40% - 42% of Revenue Royalties & Fees Gross Margin G&A Expense Capital Spending Free Cash Flow * Free Cash Flow Conversion = FCF/Adj. EBITDA Post-Refranchising Initial / Short-Term Targets Target IRR - Growth Projects 9% ~13% - 15% 2025 3% Near-term expected run rate Net Income 2024 (5)% ~25% Enhanced Near-Term Profitability 12% ~19% - 21% Adj. EBITDA Margin 2025 Near-term expected run rate 2024 The above starting points for the model will continue to strengthen
18NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Updated 2026 Financial Guidance 2026 Financial Guidance 2025 Low High Actual System-wide Sales 1 ($ in Millions) $508 $512 $532.4 Comp Sales 2 (%) (3.5)% (2.5)% (0.4)% Consolidated Adjusted EBITDA (Unchanged) ($ 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 closed. Total clinic count at year-end 2026 to be approximately 50 below year-end 2025 as we continue to reshape the portfolio around stronger operators and healthier sites
19NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Sanjiv Razdan CEO, President and Director
20NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Reigniting Growth ✓ Strengthening the foundation for long-term growth, with active membership increasing, spending per active member rising, and conversion and retention improving ✓ Building on stronger new clinic performance and positive operating trends, which reinforce confidence in a structurally stronger business ✓ Maintaining clear priorities and a team-wide focus on driving growth
21NASDAQ: 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 and Adjusted EBITDA and reconciliation of operating activities cash flows to 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 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 presentation. 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)
22NASDAQ: JYNT | © 2026 The Joint Corp. All Rights Reserved. | Quarterly GAAP – Non-GAAP Reconciliation
23NASDAQ: 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 thejointinvestor@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