The Joint Offers FY19 Highlights, FY20 Clinic Guidance

The Joint Corp. (NASDAQ:JYNT), a national operator, manager and franchisor of chiropractic clinics, provided metrics for the year ended 2019 and established new clinic guidance for 2020. 2019 Full Year Highlights

Benzinga · 01/09/2020 12:10

The Joint Corp. (NASDAQ:JYNT), a national operator, manager and franchisor of chiropractic clinics, provided metrics for the year ended 2019 and established new clinic guidance for 2020.

2019 Full Year Highlights Compared to 2018

Performed 7.7 million patient visits, up from 6.0 million in 2018.
Treated 585,000 new patients, up from 435,000 in 2018.
Increased system-wide sales1 33% in 2019 from 2018, up from a 30% increase in 2018 from 2017.
Achieved comp sales2 of 25%, consistent with 2018 growth.
Sold 126 franchise licenses, compared to 99 in 2018.
Grew total clinics to 513 at December 31, 2019, 453 franchised and 60 company-owned or managed, up from 442 at December 31, 2018. During 2019, the company opened 71 franchises and 5 greenfield clinics, acquired 8 franchised clinics and closed 5 clinics.
2020 New Clinic Guidance 
In 2020, the company expects to

Open 80 to 90 franchised clinics, up from 71 in 2019 and 47 in 2018, and
Increase company-owned or managed portfolio clinics by 16 to 20 through new greenfield clinics and franchised clinic buybacks, up from 13 in 2019 and 1 in 2018.
“Our marketing campaigns, sales promotions and growing brand recognition are driving continued interest in our effective, affordable and accessible chiropractic care, which translated into strong 2019 metrics,” stated Peter D. Holt, President and Chief Executive Officer of The Joint Corp. “Looking ahead to 2020, we believe our business momentum will continue to accelerate, yielding an increasing clinic count, continued strong comp sales and improved clinic operations.”