EXHIBIT 99.1

The Joint Corp. Reports Second Quarter 2019 Financial Results

- Increases System-Wide Gross Sales 34%, Compared to Q2 2018 -
- Sells 45 Franchise Licenses, Up from 18 in Q2 2018 –
- Opens 15 Clinics, 14 Franchised and 1 Greenfield, Compared to 8 Franchised Clinics in Q2 2018 -

SCOTTSDALE, Ariz., Aug. 08, 2019 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), a national operator, manager and franchisor of chiropractic clinics, reported its financial results for the second quarter ended June 30, 2019.

Second Quarter Highlights: 2019 Compared to 2018

Second Quarter 2019 Operating Achievements

1 System-wide sales include sales at all clinics, whether operated by the Company or by franchisees. While franchised sales are not recorded as revenues by the Company, management believes the information is important in understanding the Company’s financial performance, because these sales are the basis on which the Company calculates and records royalty fees and are indicative of the financial health of the franchisee base.

2 Comp sales include the sales from both company-owned or managed clinics and franchised clinics that in each case have been open at least 13 full months and exclude any clinics that have closed, respectively.

“Our second quarter financial and operating results demonstrate our continued accelerating momentum,” said Peter D. Holt, President and Chief Executive Officer of The Joint Corp. “Our improved marketing and operational protocols are growing revenue and generating increased operating leverage. As a result, our increase in comp sales remains at an exceptional pace for small-box retail as we continue to deliver consecutive quarters of positive net income and Adjusted EBITDA. Our regional developer model is accelerating franchise license sales growth, and our hybrid franchise / corporate clinic model enables our capital-light expansion. Pain management growth trends feed the growing acceptance of chiropractic care.  With over 460 clinics, we have just begun to penetrate the overall U.S. chiropractic market, reflecting enormous opportunity to scale our clinics.  We are excited about our future and confident in our ability to continue to drive shareholder value.”

Second Quarter Unaudited Financial Results: 2019 Compared to 2018
Revenue was $11.2 million in the second quarter of 2019, compared to $8.8 million in the second quarter of 2018, up 27%.  The growth is primarily related to a greater number of clinics as well as increased adoption of chiropractic care.

Cost of revenue was $1.3 million, up 24% compared to the second quarter of 2018, reflecting the success of the regional developer (RD) program resulting in higher commissions and royalties related to an increased number of franchised locations sold and opened within RD territories. Selling and marketing expenses were $1.8 million, or 16% of revenue, compared to $1.3 million, or 15% of revenue, in the second quarter of 2018, reflecting the increased local marketing spend associated with the corporate clinic expansion and the extra spend associated with the national franchisee convention held in May. General and administrative expenses were $7.2 million, or 65% of revenue, compared to $5.9 million, or 67% of revenue in the second quarter of 2018. The absolute dollar increase reflects both the corporate clinic expansion as well as increases in employee head count to support growth.  The decrease in general and administrative expenses as a percent of revenue reflects the improving leverage in the operating model.

Net income was $462,000, or $0.03 per diluted share, compared to a net loss of $51,000, or $0.00 per share, in the second quarter of 2018.

Adjusted EBITDA was $1.1 million, an improvement of 44% compared to Adjusted EBITDA of $734,000 in the second quarter last year.  The Company defines Adjusted EBITDA, a non-GAAP measure, as EBITDA before acquisition-related expenses, bargain purchase gain, net (gain)/loss on disposition or impairment, and stock-based compensation expenses. The company defines EBITDA as net income/(loss) before net interest, tax expense, depreciation, and amortization expenses.

Balance Sheet Liquidity
Unrestricted cash was $9.5 million at June 30, 2019, compared to $8.7 million at December 31, 2018, reflecting increased cash flow from operations, partially offset by continued investment in corporate clinic expansion and the development of the new IT platform.

2019 Guidance for Financial Results and Clinic Openings:
Management reiterates the following full year 2019 guidance based on the preliminary financial results:

Conference Call
The Joint Corp. management will host a conference call at 5 p.m. ET on Thursday, August 8, 2019, to discuss the second quarter 2019 results. The conference call may be accessed by dialing 765-507-2604 or 844-464-3931 and referencing conference code 9356268. A live webcast of the conference call will also be available on the IR section of the company’s website at https://ir.thejoint.com/events. An audio replay will be available two hours after the conclusion of the call through August 15, 2019. The replay can be accessed by dialing 404-537-3406 or 855-859-2056. The passcode for the replay is 9356268.

Non-GAAP Financial Information

This release includes a presentation of non-GAAP financial measures. System-wide sales include sales at all clinics, whether operated by the Company or by franchisees. While franchised sales are not recorded as revenues by the Company, management believes the information is important in understanding the Company’s financial performance, because these sales are the basis on which the Company calculates and records royalty fees and are indicative of the financial health of the franchisee base. Comp sales include the sales from both company-owned or managed clinics and franchised clinics that in each case have been open at least 13 full months and exclude any clinics that have closed, respectively.
EBITDA and Adjusted EBITDA are presented because they are important measures used by management to assess financial performance, as management believes they provide a more transparent view of the company’s underlying operating performance and operating trends. Reconciliation of net income (loss) to EBITDA and Adjusted EBITDA is presented in the table below. The company defines Adjusted EBITDA as EBITDA before acquisition-related expenses, bargain purchase gain, net (gain)/loss on disposition or impairment, and stock-based compensation expenses. The company defines EBITDA as net income/(loss) before net interest, tax expense, depreciation, and amortization expenses.

EBITDA and Adjusted EBITDA do not represent and should not be considered alternatives to net income or cash flows from operations, as determined by accounting principles generally accepted in the United States, or GAAP. While EBITDA and Adjusted EBITDA are used as measures of financial performance and the ability to meet debt service requirements, they are not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the methods of calculation. EBITDA and Adjusted EBITDA should be reviewed in conjunction with the company’s financial statements filed with the SEC.

Forward-Looking Statements
This press release contains statements about future events and expectations that constitute forward-looking statements, including our expectation relating to the timing of the filing of our Form 10-Q for the quarter ended June 30, 2019. 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. 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 failure to develop or acquire company-owned or managed clinics as rapidly as we intend, our failure to profitably operate company-owned or managed clinics, and the factors described in “Risk Factors” in our Annual Report on Form 10-K as filed with the SEC for the year ended December 31, 2018 and as may be described in any “Risk Factors” in subsequently filed Quarterly Reports on Form 10-Q.  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. 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.

About The Joint Corp. (NASDAQ: JYNT)
Based in Scottsdale, Arizona, The Joint is an emerging growth company that is reinventing chiropractic care by making quality care convenient and affordable for patients seeking pain relief and ongoing wellness. Its no-appointment policy and convenient hours and locations make care more accessible, and affordable membership plans and packages eliminate the need for insurance. With over 460 clinics nationwide and over 6 million patient visits annually, The Joint is a key leader in the chiropractic profession. For more information, visit http://www.thejoint.com or follow the brand on Twitter, Facebook, YouTube and LinkedIn. 

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, Massachusetts, 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.

Media Contact: Margie Wojciechowski, The Joint Corp., [email protected]
Investor Contact: Kirsten Chapman, LHA Investor Relations, 415-433-3777, [email protected]

-- Financial Tables Follow --

 THE JOINT CORP. AND SUBSIDIARY AND AFFILIATES
 CONDENSED CONSOLIDATED BALANCE SHEETS
     
  June 30, December 31,
   2019   2018 
 ASSETS(unaudited) (as adjusted)
 Current assets:   
 Cash and cash equivalents$9,485,212  $8,716,874 
 Restricted cash 129,220   138,078 
 Accounts receivable, net 1,033,479   806,350 
 Notes receivable - current portion 163,573   149,349 
 Deferred franchise costs - current portion 710,796   611,047 
 Prepaid expenses and other current assets 887,676   882,290 
 Total current assets 12,409,956   11,303,988 
 Property and equipment, net 4,963,037   3,658,007 
 Operating lease right-of-use asset 10,030,737   - 
 Notes receivable, net of current portion and reserve 41,683   128,723 
 Deferred franchise costs, net of current portion 3,485,644   2,878,163 
 Intangible assets, net 1,975,835   1,634,060 
 Goodwill 3,225,145   3,225,145 
 Deposits and other assets 337,379   599,627 
 Total assets$36,469,416  $23,427,713 
     
 LIABILITIES AND STOCKHOLDERS' EQUITY    
 Current liabilities:   
 Accounts payable$1,199,341  $1,253,274 
 Accrued expenses 178,949   266,322 
 Co-op funds liability 129,220   104,057 
 Payroll liabilities 1,602,916   2,035,658 
 Notes payable - current portion 1,000,000   1,100,000 
 Deferred rent - current portion -   136,550 
 Operating lease liability - current portion 1,827,233   - 
 Finance lease liability - current portion 23,075   - 
 Deferred franchise and regional developer fee revenue - current portion 2,697,669   2,370,241 
 Deferred revenue from company clinics 2,677,782   2,529,497 
 Other current liabilities 540,279   477,528 
 Total current liabilities 11,876,464   10,273,127 
 Deferred rent, net of current portion -   721,730 
 Operating lease liability - net of current portion 9,049,948   - 
 Finance lease liability - net of current portion 46,826   - 
 Deferred franchise and regional developer fee revenue, net of current portion 12,652,780   11,239,221 
 Deferred tax liability 83,294   76,672 
 Other liabilities 27,230   389,362 
 Total liabilities 33,736,542   22,700,112 
 Stockholders' equity:   
 Series A preferred stock, $0.001 par value; 50,000 shares authorized,   
 0 issued and outstanding, as of June 30, 2019 and December 31, 2018 -   - 
 Common stock, $0.001 par value; 20,000,000 shares   
 authorized, 13,838,016 shares issued and 13,823,346 shares outstanding   
 as of June 30, 2019 and 13,757,200 shares issued and 13,742,530   
 outstanding as of December 31, 2018 13,838   13,757 
 Additional paid-in capital 38,779,538   38,189,251 
 Treasury stock 14,670 shares as of June 30, 2019 and December 31, 2018, at cost (90,856)  (90,856)
 Accumulated deficit (35,969,746)  (37,384,651)
 Total The Joint Corp. stockholders' equity 2,732,774   727,501 
 Non-controlling Interest 100   100 
 Total equity 2,732,874   727,601 
 Total liabilities and stockholders' equity$36,469,416  $23,427,713 
     


THE JOINT CORP. AND SUBSIDIARY AND AFFILIATES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
         
  Three Months Ended Six Months Ended
  June 30,  June 30,
   2019   2018   2019   2018 
    (as adjusted)   (as adjusted)
Revenues:        
Revenues from company-owned or managed clinics $5,777,288  $4,668,638  $11,416,365  $9,474,311 
Royalty fees  3,263,530   2,421,185   6,290,346   4,695,173 
Franchise fees  447,266   449,144   864,339   797,481 
Advertising fund revenue  927,800   687,752   1,819,367   1,346,782 
Software fees  377,125   315,910   742,361   623,385 
Regional developer fees  200,524   137,412   384,381   261,423 
Other revenues  176,446   124,744   332,197   253,194 
Total revenues  11,169,979   8,804,785   21,849,356   17,451,749 
Cost of revenues:        
Franchise cost of revenues  1,198,378   977,782   2,315,431   1,850,550 
IT cost of revenues  100,771   73,802   189,659   173,366 
Total cost of revenues  1,299,149   1,051,584   2,505,090   2,023,916 
Selling and marketing expenses  1,769,368   1,293,663   3,275,356   2,395,967 
Depreciation and amortization  404,466   404,975   770,143   792,392 
General and administrative expenses  7,227,662   5,867,512   13,780,566   12,136,198 
Total selling, general and administrative expenses  9,401,496   7,566,150   17,826,065   15,324,557 
Net (gain) loss on disposition or impairment  (18,266)  251,290   86,927   251,678 
Income (loss) from operations  487,600   (64,239)  1,431,274   (148,402)
         
Other income (expense):        
Bargain purchase gain  -   30,455   19,298   30,455 
Other expense, net  (15,126)  (11,103)  (26,771)  (21,910)
Total other income (expense)  (15,126)  19,352   (7,473)  8,545 
         
Income (loss) before income tax (expense) benefit  472,474   (44,887)  1,423,801   (139,857)
         
Income tax (expense) benefit  (10,214)  (5,951)  (8,896)  57,404 
         
Net income (loss) and comprehensive income (loss) $462,260  $(50,838) $1,414,905  $(82,453)
         
Less: income (loss) attributable to the non-controlling interest$-  $-  $-  $- 
         
Net income (loss) attributable to The Joint Corp. stockholders$462,260  $(50,838) $1,414,905  $(82,453)
         
Earnings (loss) per share:        
Basic earnings (loss) per share $0.03  $-  $0.10  $(0.01)
Diluted earnings (loss) per share $0.03  $-  $0.10  $(0.01)
         
Basic weighted average shares  13,797,497   13,622,710   13,774,474   13,605,370 
Diluted weighted average shares  14,477,007   13,622,710   14,390,320   13,605,370 
         


         
   Three Months Ended   Six Months Ended
   June 30,   June 30,
 Non-GAAP Financial Data: 2019   2018   2019   2018 
    (as adjusted)   (as adjusted)
 Net income (loss)$462,260  $(50,838) $1,414,905  $(82,453)
 Net interest 15,126   11,103   26,771   21,910 
 Depreciation and amortization expense 404,466   404,975   770,143   792,392 
 Tax expense (benefit) 10,214   5,951   8,896   (57,404)
 EBITDA$892,066  $371,191  $2,220,715  $674,445 
 Stock compensation expense 178,953   138,987   350,724   346,629 
 Acquisition related expenses 3,200   3,250   3,200   3,250 
 Bargain purchase gain -   (30,455)  (19,298)  (30,455)
 Net (gain) loss on disposition or impairment (18,266)  251,290   86,927   251,678 
 Adjusted EBITDA$1,055,953  $734,263  $2,642,268  $1,245,547 
         


THE JOINT CORP. AND SUBSIDIARY AND AFFILIATES
 CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
     
     
  Six Months Ended
  June 30,
   2019   2018 
    (as adjusted)
Net income (loss) $1,414,905  $(82,453)
Adjustments to reconcile net income (loss) to net cash   
provided by operating activities  1,183,708   1,211,912 
Changes in operating assets and liabilities  238,167   (516,249)
Net cash provided by operating activities  2,836,780   613,210 
Net cash used in investing activities  (2,206,240)  (366,933)
Net cash provided by financing activities  128,940   141,607 
Net increase in cash $759,480  $387,884