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Mar 31, 2023
The Joint Q1 2023 Earnings Report
Reported financial results for the first quarter of 2023.
Key Takeaways
The Joint Corp. reported a 27% increase in revenue and a net income of $2.3 million for Q1 2023, driven by a greater number of clinics and organic growth.
Revenue increased by 27% compared to Q1 2022, reaching $28.5 million.
Net income was $2.3 million, or $0.15 per diluted share, compared to a net loss of $206,000 in Q1 2022.
The company increased its clinic count to 870, including 130 company-owned or managed clinics.
Adjusted EBITDA increased to $2.0 million, compared to $1.8 million in Q1 2022.
The Joint
The Joint
Forward Guidance
Management reiterated financial and clinic opening guidance for 2023, focusing on greenfield clinic openings for company-owned or managed locations.