JOINT Corp

For the period ended Sep 30, 2024. Filed Nov 8, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 8, 2024

JYNT$6.83+2.7%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Balance Sheets as of (unaudited) and

CONDENSED CONSOLIDATED BALANCE SHEETS

	September 30,2024	December 31,2023
ASSETS · (unaudited)
Current assets:
Cash and cash equivalents	$20,737,769	$18,153,609
Restricted cash	1,257,667	1,060,683
Accounts receivable, net	4,295,663	3,718,924
Deferred franchise and regional development costs, current portion	1,052,391	1,047,430
Prepaid expenses and other current assets	2,492,653	2,439,837
Assets held for sale	25,334,715	17,915,055
Total current assets	55,170,858	44,335,538
Property and equipment, net	6,084,785	11,044,317
Operating lease right-of-use asset	7,727,105	12,413,221
Deferred franchise and regional development costs, net of current portion	4,688,487	5,203,936
Intangible assets, net	—	5,020,926
Goodwill	4,237,945	7,352,879
Deferred tax assets ($1.1 million and $1.1 million attributable to VIEs as of September 30, 2024 and December 31, 2023)	963,658	1,031,648
Deposits and other assets	725,984	748,394
Total assets	$79,598,822	$87,150,859
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$1,526,384	$1,625,088
Accounts payable due to related parties (Note 13)	375,000	—
Accrued expenses	4,093,722	1,963,009
Co-op funds liability	1,257,667	1,060,683
Payroll liabilities ($0.7 million and $0.7 million attributable to VIEs as of September 30, 2024 and December 31, 2023)	6,107,071	3,485,744
Operating lease liability, current portion	3,222,887	3,756,328
Finance lease liability, current portion	26,312	25,491
Deferred franchise fee revenue, current portion	2,535,825	2,516,554
Deferred revenue from company clinics ($3.2 million and $1.6 million attributable to VIEs as of September 30, 2024 and December 31, 2023)	3,183,396	4,463,747
Upfront regional developer Fees, current portion	291,707	362,326
Other current liabilities	544,250	483,249
Liabilities to be disposed of ($1.4 million and $3.6 million attributable to VIEs as of September 30, 2024 and December 31, 2023)	15,124,554	13,831,863
Total current liabilities	38,288,775	33,574,082
Operating lease liability, net of current portion	6,157,147	10,914,997
Finance lease liability, net of current portion	18,172	38,016
Debt under the Credit Agreement	—	2,000,000
Deferred franchise fee revenue, net of current portion	12,680,360	13,597,325
Upfront regional developer fees, net of current portion	743,578	1,019,316

Commitments and contingencies (Note 10)
Other liabilities ($1.2 million and $1.2 million attributable to VIEs as of September 30, 2024 and December 31, 2023)	1,235,241	1,235,241
Total liabilities	59,123,273	62,378,977
Stockholders' equity:
Series A preferred stock, $0.001 par value; 50,000 shares authorized, 0 issued and outstanding, as of September 30, 2024 and December 31, 2023	—	—
Common stock, $0.001 par value; 20,000,000 shares authorized, 14,991,462 shares issued and 14,958,447 shares outstanding as of September 30, 2024 and 14,783,757 shares issued and 14,751,633 outstanding as of December 31, 2023	14,991	14,783
Additional paid-in capital	49,025,751	47,498,151
Treasury stock 33,015 shares as of September 30, 2024 and 32,124 shares as of December 31, 2023, at cost	(870,058)	(860,475)
Accumulated deficit	(27,720,135)	(21,905,577)
Total The Joint Corp. stockholders' equity	20,450,549	24,746,882
Non-controlling Interest	25,000	25,000
Total equity	20,475,549	24,771,882
Total liabilities and stockholders' equity	$79,598,822	$87,150,859

ContentsView on SEC.gov

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