The Joint Corp. Reports 2023 Operating Metrics

- Grows Annual System-Wide Sales 12%, Compared to 2022 -
- Increases Comp Sales of 4%, Compared to 2022 -
- Opens 114 New Clinics, Expanding Year-end Total Clinic Count to 935 -

SCOTTSDALE, Ariz., Jan. 11, 2024 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), a national operator, manager, and franchisor of chiropractic clinics, provided operating metrics for the year ended 2023.

2023 Full Year Operating Highlights

• Performed 13.6 million patient visits, compared to 12.2 million in 2022.
• Treated 932,000 new patients, compared to 845,000 in 2022.
• Increased system-wide sales¹ 12%, compared to 21% in 2022.
• Delivered comp sales² of 4%, compared to 9% in 2022.
• Sold 55 franchise licenses, compared to 75 in 2022.
• Expanded total clinic count to 935, up from 838 clinics at December 31, 2022.
  • Opened 104, closed 13, and sold to corporate three franchised clinics for a total of 800 at December 31, 2023, compared to 712 at December 31, 2022.
  • Opened 10, closed four, and acquired three company-owned or managed clinics for a total of 135 at December 31, 2023, compared to 126 at December 31, 2022.

“Our team’s dedication to improving quality of life through routine and affordable chiropractic care increased patient count and delivered continued growth in 2023, despite ongoing macroeconomic challenges,” stated Peter D. Holt, President and Chief Executive Officer of The Joint Corp. “In the fall, we began implementing several initiatives that we expect to improve our 2024 performance and profitability. To drive top-line growth and new patient count, we are enhancing our promotions, brand positioning, and media with an increased focus on attracting lapsed patients as well as elongating membership of existing patients. To improve the bottom line, we are executing our refranchising strategy for the majority of our corporate clinics. In the fourth quarter, we set systems in place to manage sales in clusters and sent non-disclosure agreements to approximately 100 franchisees who expressed interest. These actions are expected to strengthen the health of our franchise network and increase our ability to reinvest in the business to create value for our stakeholder.”