Latest news with #JointCorp
Associated Press
4 days ago
- Business
- Associated Press
The Joint Corp. Appoints Sandi Karrmann as Director
SCOTTSDALE, Ariz., June 04, 2025 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), the nation's largest provider of chiropractic care through The Joint Chiropractic® network, appointed Sandi Karrmann as a Director to help the company strengthen its core, reignite growth and improve profitability. Karrmann increases the board to eight directors. CEO, President and Director Sanjiv Razdan said, 'A valuable addition to the board, Sandi brings extensive employee experience with publicly traded healthcare companies and franchises both here in the US and globally. We look forward to Sandi's contribution as we focus on nurturing talent, strengthening engagement, and attracting and retaining the best Doctors of Chiropractic. Our 2025 strategic priorities begin with building our people capability and culture to start the flywheel of exceling in the patient experience, turbo charging sales and profits for both our franchisees and the company and reigniting clinic network growth.' Karrmann said, 'The Joint revolutionized access to affordable quality chiropractic care. I am excited to work with Sanjiv and the board as they continue to raise the quality of their people capability and culture and become a pure play, world class franchisor.' About Sandi Karrmann Sandi Karrmann has over two decades of experiences in human resources. Most recently, as Senior Vice President, Chief Human Resources Officer for Kimberly-Clark, she has had global responsibility for the K-C human resources function, including talent recruiting, development/succession, performance management, employee engagement, labor relations, HR operations, compensation, payroll and employee benefits. Prior to this role, Karrmann served as Executive Vice President, Chief Human Resources Officer for Tenet Healthcare and United Surgical Partners International. Prior to USPI, Karrmann served in senior leadership roles at various companies, including Chief People Officer for Yum! Restaurants International, Pizza Hut US and Executive Vice President, CHRO for Meritage Homes Corporation. Prior to Meritage Homes, she served in a number of positions with increasing responsibility over nearly 13 years with PepsiCo, including her last role as Vice President, Human Resources for the sales division of Frito-Lay North America. Karrmann earned a BA degree in Psychology and Communications from the University of Michigan and an MBA in Finance from the University of Southern California. She currently serves as HR Committee Chair and Executive Board member for Camp John Marc, a camp for chronically ill/disabled children, and on the Board of Education is Freedom and United Way of Metropolitan Dallas. About The Joint Corp. (NASDAQ: JYNT) The Joint Corp. (NASDAQ: JYNT) revolutionized access to chiropractic care when it introduced its retail healthcare business model in 2010. Today, it is the nation's largest operator, manager and franchisor of chiropractic clinics through The Joint Chiropractic network. The company is making quality care convenient and affordable, while eliminating the need for insurance, for millions of patients seeking pain relief and ongoing wellness. Headquartered in Scottsdale, with over 950 locations nationwide and more than 14 million patient visits annually, The Joint Chiropractic is a key leader in the chiropractic industry. The brand is consistently named to Franchise Times' annual 'Top 400' and 'Fast & Serious' list of 40 smartest growing brands. Entrepreneur named The Joint 'No. 1 in Chiropractic Services,' and is regularly ranked on the publication's 'Franchise 500,' the 'Fastest-Growing Franchises,' the 'Best of the Best' lists, as well as its 'Top Franchise for Veterans' and 'Top Brands for Multi-Unit Owners.' SUCCESS named the company as one of the 'Top 50 Franchises' in 2024. The Joint Chiropractic is an innovative force, where healthcare meets retail. For more information, visit To learn about franchise opportunities, visit Business Structure The Joint Corp. is a franchisor of clinics and an operator of clinics in certain states. In Arkansas, California, Colorado, District of Columbia, Florida, Illinois, Kansas, Kentucky, Maryland, Michigan, Minnesota, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Tennessee, Washington, and West Virginia, The Joint Corp. and its franchisees provide management services to affiliated professional chiropractic practices. Forward-Looking Statements This press release contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements are based on our beliefs, assumptions and expectations of industry trends, our future financial and operating performance and our growth plans, taking into account the information currently available to us. These statements are not statements of historical fact. Words such as, 'anticipates,' 'believes,' 'continues,' 'estimates,' 'expects,' 'goal,' 'objectives,' 'intends,' 'may,' 'opportunity,' 'plans,' 'potential,' 'near-term,' 'long-term,' 'projections,' 'assumptions,' 'projects,' 'guidance,' 'forecasts,' 'outlook,' 'target,' 'trends,' 'should,' 'could,' 'would,' 'will,' and similar expressions are intended to identify such forward-looking statements. Specific forward-looking statements made in this press release include, among others, our belief that Sandi Karrmann's appointment as a Director will help the company strengthen its core, reignite growth and improve profitability; our focus on nurturing talent, strengthening engagement, and attracting and retaining the best Doctors of Chiropractic; and our 2025 strategic priorities of building our people capability and culture to start the flywheel of exceling in the patient experience, turbo charging sales and profits for both our franchisees and the company and reigniting clinic network growth. Forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the expectations of future results we express or imply in any forward-looking statements, and you should not place undue reliance on such statements. Factors that could contribute to these differences include, but are not limited to, our inability to identify and recruit enough qualified chiropractors and other personnel to staff our clinics, due in part to the nationwide labor shortage and an increase in operating expenses due to measures we may need to take to address such shortage; inflation, which has increased our costs and which could otherwise negatively impact our business; our failure to profitably operate company-owned or managed clinics; our failure to refranchise as planned; short-selling strategies and negative opinions posted on the internet, which could drive down the market price of our common stock and result in class action lawsuits; our failure to remediate future material weaknesses in our internal control over financial reporting, which could negatively impact our ability to accurately report our financial results, prevent fraud, or maintain investor confidence; and other factors described in our filings with the SEC, including in the section entitled 'Risk Factors' in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 14, 2025 and subsequently filed current and quarterly reports. We qualify any forward-looking statements entirely by these cautionary factors. We assume no obligation to update or revise any forward-looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data. Media Contact: Margie Wojciechowski, The Joint Corp., [email protected] Investor Contact: Kirsten Chapman, Alliance Advisors IR, 415-433-3777, [email protected] A photo accompanying this announcement is available at
Yahoo
14-03-2025
- Business
- Yahoo
The Joint Corp (JYNT) Q4 2024 Earnings Call Highlights: Strong Sales Growth Amidst Economic ...
System-wide Sales: Increased to $530.3 million in 2024, up 9% in Q4 2024 compared to 8% in Q3 2024. System-wide Comp Sales: 6% for all clinics opened 13 months in Q4 2024, compared to 4% in Q3 2024. Revenue from Continuing Operations: Increased 14% in Q4 2024, up from 10% in Q3 2024. Consolidated Adjusted EBITDA: $3.3 million for Q4 2024 and $11.4 million for the full year 2024. Patient Adjustments: 14.7 million performed in 2024, an 8% increase from 2023. Unique Patients Treated: 1.9 million in 2024, with 957,000 new to The Joint. Franchise Clinics: 57 opened, 3 refranchised, and 18 closed in 2024. Total Clinics: 967 at year-end 2024, with 842 being franchise clinics. Net Income from Continuing Operations: $986,000 or $0.06 per diluted share in Q4 2024. Unrestricted Cash: $25.1 million at December 31, 2024, compared to $18.2 million at December 31, 2023. 2025 Guidance: System-wide sales expected between $550 million and $570 million; consolidated adjusted EBITDA between $10 million and $11.5 million. Warning! GuruFocus has detected 5 Warning Signs with JYNT. Release Date: March 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. The Joint Corp (NASDAQ:JYNT) reported a 9% increase in system-wide sales for 2024, reaching $530.3 million, indicating strong sales momentum. The company served close to 1 million new patients in 2024, showcasing its significant impact in the chiropractic care industry. The Joint Corp (NASDAQ:JYNT) plans to expand its clinic network, with potential for an additional 1,000 clinics in the US alone, highlighting growth opportunities. The company is transitioning to a pure-play franchisor model, which is expected to improve profitability and reduce overhead costs. The Joint Corp (NASDAQ:JYNT) is focusing on dynamic revenue management and digital marketing to drive revenue growth and enhance patient engagement. The company is facing consumer headwinds and inconsistencies in execution, including variability in patient experience and inefficiencies in marketing. There are challenges in retaining doctors of chiropractic and addressing lower volume clinics, impacting overall performance. The time for new clinics to breakeven has extended, with more clinics comping negative than desired. Economic headwinds, stubborn inflation, and volatile consumer sentiment are expected to impact the beginning of 2025. Franchise license sales and clinic openings are likely to be less in 2025 compared to 2024 due to refranchising efforts. Q: Can you comment on the potential impact of slower consumer behavior in Q1 and how we might model the quarterly progression this year? A: Sanjiv Razdan, President and CEO, noted that consumers are responding to inflation and macroeconomic uncertainty, which affects their target demographic with household incomes between $50,000 and $100,000. Jake Singleton, CFO, added that the sales cadence is expected to be similar to previous years, with major promotions driving incremental sales in Q4. Q: What are the current trends in patient retention, churn, and attrition? A: Jake Singleton, CFO, stated that conversion rates ended strong in 2024, with attrition remaining flat. The company has implemented fringe pricing increases, which have driven increased conversion to wellness plans. January saw a slight uptick in attrition, typical for the period, but it leveled off in February. Q: How many corporate clinics are under letters of intent (LOI) for refranchising, and what is the timeline for this process? A: Sanjiv Razdan, President and CEO, confirmed that all 125 corporate clinics are intended for refranchising, with the vast majority under LOI negotiations. The company aims to complete this process closer to the first half of the year. Q: Can you provide insights into the valuation of the corporate clinics being refranchised? A: Jake Singleton, CFO, explained that most bidders are evaluating the clinics based on a multiple of EBITDA, adjusted for franchise-centric EBITDA, which includes royalty streams. The clinics are marketed in larger clusters, considering a slight outside G&A burden. Q: How should we think about customer acquisition costs and the leverage points for future revenue growth? A: Jake Singleton, CFO, highlighted that the company increased media spend to support marketing campaigns and is onboarding a new marketing agency, which involves initial transition costs. The focus is on organic lead generation, with paid media dollars being used to address new patient pressure. Q: What is the current pricing strategy, and how many customers are on legacy pricing plans? A: Jake Singleton, CFO, noted that 80% of active members are on the standard rate, with 20% on legacy rates. The company is exploring dynamic revenue management to optimize pricing without creating a value problem, testing pricing models in different markets. Q: What is the timeline for introducing new services and retail products? A: Sanjiv Razdan, President and CEO, stated that the focus for 2025 is on strengthening the core business and reigniting growth. New services and retail products are part of the Joint 3.0 phase, expected to begin 12 to 18 months later, with exploration ongoing this year. Q: What percentage of royalty and service fees do you expect from the $550 million to $570 million system-wide sales in 2025? A: Jake Singleton, CFO, explained that 2025 is a transition year with corporate clinics contributing to GAAP revenues for part of the year. The royalty structure is approximately 10% to 10.5%, including royalties, NMF contributions, and technology fees. The focus is on reducing G&A expenses to improve profitability. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
13-02-2025
- Business
- Yahoo
The Joint Chiropractic Takes the Top Spot Again as No. 1 in Chiropractic Services Franchises by Entrepreneur Magazine
-Jumps 29 Spots on Franchise 500 Ranking- SCOTTSDALE, Ariz., Feb. 13, 2025 /PRNewswire/ -- The Joint Corp. (NASDAQ: JYNT), the nation's largest provider of chiropractic care through The Joint Chiropractic® network, has been named the top franchise in chiropractic services by Entrepreneur Magazine's Franchise 500, the world's first and most comprehensive franchise ranking. The Joint also ranks No. 54 on the 2025 list, jumping 29 spots since last year. For 46 years, achieving placement on the annual Entrepreneur Franchise 500® has been a highly sought-after honor in the franchise industry and is recognized as an invaluable resource for potential franchisees. "It is an honor, again, to be named the top franchise in the country for chiropractic services and The Joint's position on the Franchise 500 ranking is a testament to our strength as a franchise opportunity," said Sanjiv Razdan, president and CEO of The Joint Corp. "It takes a large team of people to achieve such prestigious recognitions, and I would like to thank our franchisees, clinic team members and all of the support staff across the nation who deliver affordable and accessible chiropractic care with great dedication every day." In Entrepreneur's continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company's 46-year-old ranking formula continues to evolve as well. The editorial team researches and assesses several factors, including costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500 in ranking order. "The Franchise 500 is more than a list. It's really a collection of life-changing opportunities, featuring strong and resilient brands that future franchisees will be proud to be a part of," says Jason Feifer, editor in chief of Entrepreneur magazine. "This year's honorees represent the bold ideas, operational excellence, and adaptability that make franchising a cornerstone of entrepreneurial success." The Joint Chiropractic is known for its convenient retail setting and concierge-style services. For patients, that means no-appointments, no-insurance hassles, affordable chiropractic care and accommodating hours of operations, including evenings and weekends. About The Joint Corp. The Joint Corp. (NASDAQ: JYNT) revolutionized access to chiropractic care when it introduced its retail healthcare business model in 2010. Today, it is the nation's largest operator, manager and franchisor of chiropractic clinics through The Joint Chiropractic network. The company is making quality care convenient and affordable, while eliminating the need for insurance, for millions of patients seeking pain relief and ongoing wellness. With over 950 locations nationwide and more than 14 million patient visits annually, The Joint Chiropractic is a key leader in the chiropractic industry. Consistently named to Franchise Times "Top 500+ Franchises" and Entrepreneur's "Franchise 500" lists and recognized by FRANdata with the TopFUND award, as well as Franchise Business Review's "Top Franchise for 2023," "Most Profitable Franchises" and "Top Franchises for Veterans" ranking, The Joint Chiropractic is an innovative force, where healthcare meets retail. For more information, visit To learn about franchise opportunities, visit Business Structure The Joint Corp. is a franchisor of clinics and an operator of clinics in certain states. In Arkansas, California, Colorado, District of Columbia, Florida, Illinois, Kansas, Kentucky, Maryland, Michigan, Minnesota, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Washington, West Virginia and Wyoming, The Joint Corp. and its franchisees provide management services to affiliated professional chiropractic practices. View original content to download multimedia: SOURCE The Joint Corp.
