The Joint Corp. (NASDAQ: JYNT) reported their financial results for Q4 2021 and the year ended December 31, 2022. The company reported a total of 838 clinics, comprising 712 franchised and 126 company-owned or managed clinics, up from 706 clinics in December 2021. The company also acquired 16 previously franchised clinics and sold two company-owned or managed clinics.
According to Peter D. Holt, President and Chief Executive Officer of The Joint Corp, "Maintaining our focus on our three strategic initiatives, we are continuing to invest in attracting and retaining the most talented chiropractors; to leverage our data; and to expand our clinic network toward our near-term target of 1,000 clinics."
The company reported a net income of $20.1 million in Q4 2021, up from $2.2 million in Q4 2020. Additionally, the 2023 guidance for the company-owned or managed clinic openings consists of greenfield clinic openings only, with the company expected to open between eight and 12 in 2023.
Investors should note that forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from the expectations expressed or implied in any forward-looking statements. The full financial report is available at www.thejoint.com.