EXHIBIT 99.1

The Joint Corp. Reports Third Quarter 2021 Financial Results

- Grows Revenue 36%, System-wide Sales 37%, and System-wide Comp Sales 27%, Compared to Q3 2020 -
- Sold 44 Franchise Licenses, Compared to 30 in Q3 2020 -
- Opened 33 Clinics, Including 5 Greenfields, Bringing the Total Corporate Count to 83 at Quarter End -
- Raised 2021 Guidance on Franchise Openings, Revenue and Adjusted EBITDA -

SCOTTSDALE, Ariz., Nov. 04, 2021 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), a national operator, manager, and franchisor of chiropractic clinics, reported its financial results for the quarter ended September 30, 2021.

Financial Highlights: Q3 2021 Compared to Q3 2020

• Grew revenue 36% to $21.0 million.
• Increased system-wide sales¹ by 37%, to $93.4 million.
• Reported system-wide comp sales² increase of 27%.
• Posted operating income of $1.3 million, compared to $1.7 million.
• Recorded net income of $1.9 million, compared to $1.6 million.
• Reported Adjusted EBITDA of $3.3 million, compared to $2.6 million.

Q3 2021 Operating Highlights

• Sold 44 franchise licenses, compared to 30 in Q3 2020.
• Increased total clinics to 666 at September 30, 2021, 583 franchised and 83 company-owned or managed, up from 633 at June 30, 2021.
  • Opened 28 new franchised clinics, compared to 21 opened and 1 closed during Q3 2020.
  • Opened 5 greenfield clinics, compared to one in Q3 2020.
• Subsequent to quarter end, opened one greenfield and acquired 4 previously franchised clinics, bringing the total company-owned or managed clinics to 88 as of November 1, 2021.
  

“Our momentum continued in the third quarter, as we executed on our long-standing strategy to build The Joint brand by opening franchised and corporate owned or managed clinics in retail settings,” said Peter D. Holt, President and Chief Executive Officer of The Joint Corp. “By quarter end, we expanded our total clinic count to 666, keeping us on track to achieve our goal of 1,000 clinics in operation by the end of 2023.

“Meanwhile, our growth indicators continue to accelerate. According to ChiroEconomics research³, an average clinic of The Joint financially outperforms the average solo practitioner, attracting more franchisees into our brand. For the nine-month period, we sold 132 franchise licenses, up from 65 in the same period last year. At quarter end, we had 295 franchise licenses in active development, compared to 218 at September 30, 2020. In addition, in 2020, 484,000 new patients, over a quarter of whom are new to chiropractic care, visited The Joint, which is expanding the overall chiropractic market as well as increasing our market share. These trends are fueling our national footprint expansion and our confidence in our ability to drive long-term growth and stakeholder value.”

¹ System-wide sales include sales at all clinics, whether operated or managed 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.
³ Compares performance of The Joint clinics in 2020 as reported in the company’s 2021 Franchise Disclosure Document against data from ChiroEconomics’ 2020 and 2021 Salary & Expense Surveys for solo practitioners.

Financial Results for the Three Months Ended September 30: 2021 Compared to 2020

Revenue was $21.0 million in the third quarter of 2021, compared to $15.4 million in the third quarter of 2020. The increase reflected a greater number of franchised and corporate clinics and continued organic growth. Cost of revenue was $2.3 million, compared to $1.7 million in the third quarter of 2020, reflecting the increase in franchised clinics and the associated higher regional developer royalties and commissions, as well as higher website hosting costs related to the new IT platform, Axis, which went live in July 2021.

Selling and marketing expenses were $2.9 million, up 56%, driven by an increase in advertising fund expenditures from a larger franchise base and the timing of the national marketing fund spend as well as an increase in local marketing expenditures by the company-owned or managed clinics.

Depreciation and amortization expenses increased for the third quarter of 2021, as compared to the prior year period, primarily due to the amortization of reacquired development rights in December 2020 and January 2021, the amortization of intangibles related to the 2021 clinic acquisitions, and the depreciation expenses associated with the Axis IT platform.

General and administrative expenses were $12.8 million, compared to $9.4 million in the third quarter of 2020. The increase was primarily due to an increase in payroll to remain competitive in the tight labor market, professional fees, and IT expenses to support continued clinic count and revenue growth.

Operating income was $1.3 million, including the impact of the depreciation and amortization from reacquired development rights, clinic acquisitions or greenfield development. This compares to $1.7 million in the third quarter of 2020. Income tax benefit was $614,000, compared to an expense of $76,000 in the third quarter of 2020. The income tax benefit was primarily driven by excess tax benefits from the exercise of stock options. Net income was $1.9 million, or $0.13 per diluted share, compared to $1.6 million, or $0.11 per diluted share, in the third quarter of 2020.

Adjusted EBITDA was $3.3 million, compared to $2.6 million in the third quarter of 2020. 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 before net interest, tax expense, depreciation, and amortization expenses.

Financial Results for the Nine Months Ended September 30: 2021 Compared to 2020

Revenue was $58.8 million for the first nine months of 2021, compared to $41.6 million in the prior year period. Operating income and net income were $5.3 million and $6.9 million, compared to $2.7 million and $2.5 million in the prior year period, respectively. Adjusted EBITDA was $10.5 million, compared to $5.4 million in the prior year period.

Balance Sheet Liquidity

Unrestricted cash was $19.5 million at September 30, 2021, compared to $20.6 million at December 31, 2020. The change reflects net cash provided by operating activities of $12.5 million offset by $11.2 million of investing activities consisting of acquisitions, greenfield developments, and IT capital expenditures, as well as the $2.0 million of net cash used in financing activities primarily driven by the repayment of the Paycheck Protection Program loan in March 2021.

Raised 2021 Guidance

Management increased 2021 guidance for franchise openings, revenue, and Adjusted EBITDA.

• Revenue is now expected to be between $80.0 million and $81.0 million, up from the August 5, 2021 guidance of between $77.0 million and $79.0 million. The updated mid-point reflects a 37% increase compared to $58.7 million in 2020.
• Adjusted EBITDA is now expected to be between $13.0 million and $14.0 million, up from prior guidance of between $12.5 million and $13.5 million. The updated mid-point reflects a 48% increase compared to $9.1 million in 2020.
• The expected number of franchised clinic openings has increased to be between 105 and 115, up from prior guidance of 90 and 110. The updated mid-point reflects a 57% increase compared to 70 in 2020.
• The expected number of company-owned or managed clinic increases, through a combination of both greenfields and buybacks, remains between 25 and 35; the mid-point is 7.5 times greater than the 4 opened in 2020.

Conference Call
The Joint Corp. management will host a conference call at 5 p.m. ET on Thursday, November 4, 2021, to discuss the third quarter 2021 results. Shareholders and interested participants may listen to a live broadcast of the conference call by dialing 765-507-2604 or 844-464-3931 and referencing code 3834499 approximately 15 minutes prior to the start time.

The accompanying slide presentation will be in the IR section of the website under Presentations and in Events. 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 11, 2021. The replay can be accessed by dialing 404-537-3406 or 855-859-2056. The passcode for the replay is 3834499.

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.

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 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. 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, the continuing impact of the COVID-19 outbreak on the economy and our operations (including temporary clinic closures, shortened business hours and reduced patient demand), 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, our inability to identify and recruit enough qualified chiropractors and other personnel to staff our clinics, due in part to the nationwide labor shortage, 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, and the other factors described in “Risk Factors” in our Annual Report on Form 10-K as filed with the SEC for the year ended December 31, 2020, as updated or revised for any material changes described in any subsequently-filed Quarterly Reports on Form 10-Q or other SEC filings. 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)
The Joint Corp. (NASDAQ: JYNT) revolutionized access to chiropractic care when it introduced its retail healthcare business model in 2010. Today, 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 more than 600 locations nationwide and over eight million patient visits annually, The Joint is a key leader in the chiropractic industry. Named on Franchise Times “Top 200+ Franchises” and Entrepreneur’s “Franchise 500^®” lists, The Joint Chiropractic is an innovative force, where healthcare meets retail. For more information, visit www.thejoint.com. To learn about franchise opportunities, visit www.thejointfranchise.com.

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.

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
RECONCILIATION FOR GAAP TO NON-GAAP
(unaudited)