EXHIBIT 99.1

The Joint Corp. Reports Third Quarter 2019 Financial Results

- Grows System-Wide Sales 33% Quarterly and Year-to-Date, Compared to 2018 -
- Increases Franchise Licenses Sales to 103 at Sept. 30, 2019, Up 172% Year-to-Date -  
- Raises Revenue, Adjusted EBITDA and Corporate Clinic 2019 Guidance -
- Opens 21 Franchised Clinics in Q3 2019, Bringing the Year-to-Date Total to 47 -

SCOTTSDALE, Ariz., Nov. 07, 2019 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), a national operator, manager and franchisor of chiropractic clinics, reported its financial results for the third quarter ended September 30, 2019.

Third Quarter Highlights: 2019 Compared to 2018

Third 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 team’s efforts executing key growth and productivity initiatives over the last three years continue to accelerate our business momentum, and our strong financial performance led us to increase 2019 guidance,” said Peter D. Holt, President and Chief Executive Officer of The Joint Corp. “Our system-wide sales for the nine months ended September 30, 2019 reached $158 million, up 33% compared to the same period last year. Year-to- date through November 7, 2019, we bought back eight clinics from franchisees and opened five greenfield clinics, exceeding our previous 2019 guidance on new company-owned or managed clinics. Further, our franchise sales increased 172% year-to-date and have already surpassed the total for all of 2018. These leading indicators combined with growing interest in the utilization of chiropractic care for pain relief and management support our confidence in our ability to continue to drive shareholder value.”

Third Quarter Unaudited Financial Results: 2019 Compared to 2018
Revenue was $12.7 million in the third quarter of 2019, compared to $9.2 million in the third quarter of 2018, up 38%.  The growth is primarily related to a greater number of clinics as well as increased adoption of chiropractic care.

Cost of revenue was $1.4 million, up 32% compared to the third 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 14% of revenue, compared to $1.2 million, or 13% of revenue, in the third quarter of 2018, reflecting the increased local marketing spend associated with the corporate clinic expansion. General and administrative expenses were $8.3 million, or 65% of revenue, compared to $6.8 million, or 74% of revenue in the third 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 $617,000, or $0.04 per diluted share, compared to a net loss of $208,000, or $0.02 per share, in the third quarter of 2018.

Adjusted EBITDA was $1.4 million, an improvement of 134% compared to Adjusted EBITDA of $609,000 in the third 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 $7.8 million at September 30, 2019, compared to $8.7 million at December 31, 2018, reflecting increased cash flow from operations, 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 increased its full year 2019 guidance and expects:

Conference Call
The Joint Corp. management will host a conference call at 5 p.m. ET on Thursday, November 7, 2019, to discuss the third quarter 2019 results. The conference call may be accessed by dialing 765-507-2604 or 844-464-3931 and referencing conference code 5953258. 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 November 14, 2019. The replay can be accessed by dialing 404-537-3406 or 855-859-2056. The passcode for the replay is 5953258.

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 September 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 nearly 500 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
     
  September 30, December 31,
   2019   2018 
 ASSETS(unaudited) (as adjusted)
 Current assets:   
 Cash and cash equivalents$7,826,949  $8,716,874 
 Restricted cash 169,044   138,078 
 Accounts receivable, net 1,339,499   806,350 
 Notes receivable - current portion 164,640   149,349 
 Deferred franchise costs - current portion 738,341   611,047 
 Prepaid expenses and other current assets 1,055,135   882,290 
 Total current assets 11,293,608   11,303,988 
 Property and equipment, net 5,698,143   3,658,007 
 Operating lease right-of-use asset 13,149,467   - 
 Notes receivable, net of current portion and reserve 2,827   128,723 
 Deferred franchise costs, net of current portion 3,618,751   2,878,163 
 Intangible assets, net 3,566,105   1,634,060 
 Goodwill 4,123,176   3,225,145 
 Deposits and other assets 326,633   599,627 
 Total assets$41,778,710  $23,427,713 
     
 LIABILITIES AND STOCKHOLDERS' EQUITY    
 Current liabilities:   
 Accounts payable$1,682,685  $1,253,274 
 Accrued expenses 320,821   266,322 
 Co-op funds liability 169,044   104,057 
 Payroll liabilities 1,960,536   2,035,658 
 Notes payable - current portion 1,000,000   1,100,000 
 Deferred rent - current portion -   136,550 
 Operating lease liability - current portion 2,195,852   - 
 Finance lease liability - current portion 23,656   - 
 Deferred franchise and regional developer fee revenue - current portion 2,750,944   2,370,241 
 Deferred revenue from company clinics 2,818,320   2,529,497 
 Other current liabilities 446,277   477,528 
 Total current liabilities 13,368,135   10,273,127 
 Deferred rent, net of current portion -   721,730 
 Operating lease liability - net of current portion 11,798,120   - 
 Finance lease liability - net of current portion 40,689   - 
 Deferred franchise and regional developer fee revenue, net of current portion 12,654,095   11,239,221 
 Deferred tax liability 86,633   76,672 
 Other liabilities 27,230   389,362 
 Total liabilities 37,974,902   22,700,112 
 Commitments and contingencies   
 Stockholders' equity:   
 Series A preferred stock, $0.001 par value; 50,000 shares authorized,   
 0 issued and outstanding, as of September 30, 2019 and December 31, 2018 -   - 
 Common stock, $0.001 par value; 20,000,000 shares   
 authorized, 13,894,621 shares issued and 13,878,859 shares outstanding   
 as of September 30, 2019 and 13,757,200 shares issued and 13,742,530   
 outstanding as of December 31, 2018 13,895   13,757 
 Additional paid-in capital 39,253,617   38,189,251 
 Treasury stock 15,762 shares as of September 30, 2019 and 14,670 shares as of December 31, 2018, at cost (111,040)  (90,856)
 Accumulated deficit (35,352,764)  (37,384,651)
 Total The Joint Corp. stockholders' equity 3,803,708   727,501 
 Non-controlling Interest 100   100 
 Total equity 3,803,808   727,601 
 Total liabilities and stockholders' equity$41,778,710  $23,427,713 
     

  

 THE JOINT CORP. AND SUBSIDIARY AND AFFILIATES
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 (unaudited)
         
  Three Months Ended Nine Months Ended
  September 30,  September 30,
   2019   2018   2019   2018 
    (as adjusted)   (as adjusted)
 Revenues:       
 Revenues from company-owned or managed clinics$6,829,576  $4,853,841  $18,245,940  $14,328,152 
 Royalty fees 3,447,270   2,588,666   9,737,616   7,283,839 
 Franchise fees 541,339   457,516   1,405,678   1,254,997 
 Advertising fund revenue 978,209   736,987   2,797,576   2,083,769 
 Software fees 514,350   324,250   1,256,711   947,635 
 Regional developer fees 210,233   142,651   594,615   410,075 
 Other revenues 205,400   137,776   537,596   384,970 
 Total revenues 12,726,377   9,241,687   34,575,732   26,693,437 
 Cost of revenues:       
 Franchise cost of revenues 1,318,966   1,005,162   3,634,397   2,855,712 
 IT cost of revenues 107,903   79,545   297,561   252,911 
 Total cost of revenues 1,426,869   1,084,707   3,931,958   3,108,623 
 Selling and marketing expenses 1,793,229   1,194,595   5,068,585   3,590,562 
 Depreciation and amortization 538,372   389,269   1,308,515   1,181,661 
 General and administrative expenses 8,297,680   6,476,903   22,078,244   18,613,101 
 Total selling, general and administrative expenses 10,629,281   8,060,767   28,455,344   23,385,324 
 Net loss on disposition or impairment 29,848   343,255   116,775   594,934 
 Income (loss) from operations 640,379   (247,042)  2,071,655   (395,444)
         
 Other income (expense):       
 Bargain purchase gain -   -   19,298   30,455 
 Other expense, net (16,697)  (10,672)  (43,469)  (32,582)
 Total other expense (16,697)  (10,672)  (24,171)  (2,127)
         
 Income (loss) before income tax (expense) benefit 623,682   (257,714)  2,047,484   (397,571)
         
 Income tax (expense) benefit (6,702)  50,171   (15,597)  107,575 
         
 Net income (loss) and comprehensive income (loss)$616,980  $(207,543) $2,031,887  $(289,996)
         
 Less: income (loss) attributable to the non-controlling interest$-  $-  $-  $- 
         
 Net income (loss) attributable to The Joint Corp. stockholders$616,980  $(207,543) $2,031,887  $(289,996)
         
 Earnings (loss) per share:       
 Basic earnings (loss) per share$0.04  $(0.02) $0.15  $(0.02)
 Diluted earnings (loss) per share$0.04  $(0.02) $0.14  $(0.02)
         
 Basic weighted average shares 13,846,045   13,727,712   13,798,593   13,646,599 
 Diluted weighted average shares 14,526,538   13,727,712   14,442,203   13,646,599 
         


 THE JOINT CORP. AND SUBSIDIARY AND AFFILIATES
  CONSOLIDATED STATEMENTS OF CASH FLOWS
 (unaudited)
      
   Nine Months Ended
   September 30,
    2019   2018 
     (as adjusted)
 Net income (loss) $2,031,887  $(289,996)
 Adjustments to reconcile net income (loss) to net cash   
 provided by operating activities  1,852,280   1,892,261 
 Changes in operating assets and liabilities  821,041   286,148 
 Net cash provided by operating activities  4,705,208   1,888,413 
 Net cash used in investing activities  (5,955,484)  (698,770)
 Net cash provided by financing activities  391,317   286,721 
 Net (decrease) increase in cash $(858,959) $1,476,364 
      

THE JOINT CORP. AND SUBSIDIARY AND AFFILIATES
RECONCILIATION FOR GAAP TO NON-GAAP

   Three Months Ended   Nine Months Ended
   September 30,   September 30,
 Non-GAAP Financial Data: 2019  2018   2019   2018 
    (as adjusted)   (as adjusted)
 Net income (loss)$616,980 $(207,543) $2,031,887  $(289,996)
 Net interest 16,697  10,672   43,469   32,581 
 Depreciation and amortization expense 538,372  389,269   1,308,515   1,181,661 
 Tax expense (benefit) 6,702  (50,171)  15,597   (107,575)
 EBITDA$1,178,751 $142,227  $3,399,467  $816,671 
 Stock compensation expense 186,020  122,777   536,744   469,405 
 Acquisition related expenses 33,091  701   36,241   3,950 
 Bargain purchase gain -  -   (19,298)  (30,455)
 Net loss on disposition or impairment 29,848  343,255   116,775   594,934 
 Adjusted EBITDA$1,427,710 $608,960  $4,069,929  $1,854,505