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The Joint Corp. (JYNT+0.16%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $51.9 million, an increase from $47 million in the previous year. This growth was driven by an increase in the number of franchised clinics and continued sales growth in existing franchised clinics.
Royalty fees increased by 10.2% to $32.1 million, reflecting the expansion of the franchise base. Franchise fees also saw a 4% increase to $3 million.
Advertising fund revenue rose by 10.3% to $9.2 million, while software fees increased by 11.8% to $5.7 million, both attributed to the growth in the number of franchised clinics.
The company reported a net loss from continuing operations of $1.5 million, compared to a net loss of $10.8 million in the previous year. This improvement was primarily due to increased revenues and effective cost management.
Selling and marketing expenses increased by 25.7% to $10.9 million, driven by higher advertising fund expenditures and expanded marketing efforts.
General and administrative expenses rose by 13.7% to $29.8 million, reflecting increased payroll and professional fees to support the company's strategic initiatives.
The company reported an income tax expense of $62,142, a significant decrease from $11 million in the previous year, primarily due to changes in valuation allowances and uncertain tax positions.
The Joint Corp. continues to focus on its strategy to transition to a pure-play franchisor business, with plans to refranchise its company-owned or managed clinics.
As of December 31, 2024, The Joint Corp. had 967 clinics in operation, with 842 franchised clinics and 125 company-owned or managed clinics.
The company ended the year with $25.1 million in cash and cash equivalents, reflecting its strong cash flow from operations and strategic management of its financial resources.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the The Joint Corp. annual 10-K report dated March 14, 2025. To report an error, please email earnings@qz.com.