JOINT Corp
For the period ended Dec 31, 2023. Filed Mar 8, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 8, 2024
JYNT$6.83+2.7%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows for the
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net (loss) income | $(9,752,197) | $626,705 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
| Depreciation and amortization | 8,582,203 | 6,646,622 |
| Net loss on disposition or impairment (non-cash portion) | 2,632,604 | 410,215 |
| Net franchise fees recognized upon termination of franchise agreements | (217,827) | (68,537) |
| Deferred income taxes | 10,896,504 | (441,353) |
| Stock based compensation expense | 1,737,682 | 1,273,989 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 192,348 | (154,672) |
| Prepaid expenses and other current assets | (341,478) | 183,406 |
| Deferred franchise costs | 355,952 | (351,151) |
| Deposits and other assets | 1,492 | (189,184) |
| Accounts payable | (1,381,836) | 818,265 |
| Accrued expenses | 793,679 | (1,170,070) |
| Payroll liabilities | 1,455,234 | (1,875,807) |
| Upfront regional developer fees | (598,778) | (1,288,134) |
| Deferred revenue | 301,095 | 2,889,139 |
| Other liabilities | 20,912 | 900,151 |
| Net cash provided by operating activities | 14,677,589 | 8,209,584 |
| Cash flows from investing activities: | ||
| Acquisition of AZ clinics | — | (6,966,923) |
| Acquisition of NC clinics | — | (3,289,312) |
| Acquisition of CA clinics | (1,188,765) | (1,850,000) |
| Proceeds from sale of clinics | — | 105,200 |
| Purchase of property and equipment | (4,999,070) | (5,899,080) |
| Net cash used in investing activities | (6,187,835) | (17,900,115) |
| Cash flows from financing activities: | ||
| Payments of finance lease obligation | (24,432) | (49,855) |
| Purchases of treasury stock under employee stock plans | (3,833) | (5,804) |
| Proceeds from exercise of stock options | 202,386 | 384,269 |
| Net cash provided by financing activities | 174,121 | 328,610 |
| Increase (decrease) in cash | 8,663,875 | (9,361,921) |
| Cash, cash equivalents and restricted cash, beginning of period | 10,550,417 | 19,912,338 |
| Cash, cash equivalents and restricted cash, end of period | $19,214,292 | $10,550,417 |
| December 31, 2023 | December 31, 2022 | |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents | $18,153,609 | $9,745,066 |
| Restricted cash | 1,060,683 | 805,351 |
| $19,214,292 | $10,550,417 | |
Supplemental cash flow disclosures:
The following table represents supplemental cash flow disclosures and non-cash investing and financing activities:
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Net cash paid (refunded) for: | ||
| Interest | $173,062 | $71,255 |
| Income taxes | $569,765 | $(369,481) |
| Non-cash investing and financing activity: | ||
| Unpaid purchases of property and equipment | $140,055 | $576,725 |
| Non-cash investment in acquisition of franchised clinics | $28,997 | $115,372 |
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