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Mar 31, 2024
The Joint Q1 2024 Earnings Report
The Joint Corp. grew revenue and improved bottom-line year-over-year.
Key Takeaways
The Joint Corp. reported a 5% increase in revenue to $29.7 million and operating income of $1.1 million. Net income was $947,000, compared to $2.3 million in the previous year, which included a $3.9 million employee retention credit. System-wide sales increased by 9% to $126.3 million, and system-wide comp sales grew by 3%.
Revenue grew by 5% to $29.7 million.
Operating income was $1.1 million, compared to an operating loss of $653,000.
Net income was $947,000, compared to $2.3 million, which included a $3.9 million employee retention credit in the prior year.
System-wide sales increased by 9% to $126.3 million.
The Joint
The Joint
Forward Guidance
The company reiterated all elements of its guidance.
Positive Outlook
- 2024 System-wide sales are expected to be between $530 and $545 million dollars, compared to $488.0 million dollars in 2023.
- System-wide comp sales for all clinics open 13 months or more are expected to be in the mid-single digits in 2024.
- 2024 new franchised clinic openings, excluding the impact of refranchised clinics, are expected to be between 60 and 75, compared to 104 in 2023.