Exhibit 99.2

 

© 2021 The Joint Corp. All Rights Reserved. 1 Q3 2021 Financial Results As of September 30, 2021 | Reported on November 4, 2021

 

 

Safe Harbor Statement © 2021 The Joint Corp. All Rights Reserved. 2 Certain statements contained in this presentation are "forward - looking statements” about future events and expectations. 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 in formation 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 material ly 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 differ enc es 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 de mand), 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 a nd 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 yea r 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. We anticipate filing our Quarterly Repo rt on Form 10 - Q for the quarter ended September 30, 2021 on or around November 5, 2021. Words such as, "anticipates," "believes," "continues," "estimates," "expects," "goal," "objectives," "inten ds, " "may," "opportunity," "plans," "potential," "near - term," "long - term," "projections," "assumptions," "projects," "guidance," "forecasts," "outlook," "target," "trends," "should," "could," "would," "w ill," 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 informati on 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, a nd should only be viewed as historical data. Business Structure The Joint Corp. is a franchisor of clinics and an operator of clinics in certain states. In Arkansas, California, Colorado, D ist rict of Columbia, Florida, Illinois, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Washi ngt on, West Virginia and Wyoming, The Joint Corp. and its franchisees provide management services to affiliated professional chiropractic practices.

 

 

© 2021 The Joint Corp. All Rights Reserved. 3 BUILD BRAND INCREASE AWARENESS DELIVER EXCEPTIONAL PATIENT EXPERIENCE OPEN NEW CLINICS Revolutionizing Access to Chiropractic Care As an essential healthcare service, The Joint Chiropractic’s mission is to improve the quality of life through routine and affordable chiropractic care.

 

 

Continued Strength in Third Quarter 4 Change from Q3 2021 Q3 2020 Revenue $21.0M Up 36% Op. Income $1.3M $1.7M Net Income $1.9M $1.6M Adjusted EBITDA 2 $3.3M Up 25% Unrestricted cash $19.5 M at September 30, 2021, compared to $20.6M Dec. 31, 2020 © 2021 The Joint Corp. All Rights Reserved. 1 Comparable sales include only the sales from clinics that have been open at least 13 or 48 full months and exclude any clinics that have permanently closed. 2 Reconciliation of Adjusted EBITDA to GAAP earnings is included in the Appendix. 37 % Increase in sy stem - wide sales Q3 2021 over Q3 2020 27% In crease in comp sales 1 for all clinics >13 months in operation Q3 2021 over Q3 2020 21 % In crease in comp sales 1 for all clinics >48 months in operation Q3 2021 over Q3 2020

 

 

12 26 82 175 242 265 309 352 394 453 515 583 4 47 61 47 48 60 64 83 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Sept. 30, 2021 TOTAL CLINICS OPEN Franchise Company Owned/Managed 88 Clinics Opened YTD 2021 Driving to 1,000 Clinics by the End of 2023 © 2021 The Joint Corp. All Rights Reserved. 5 Q3 2020 Q3 2021 Franchise Licenses Sold 30 44 Total New Franchised Clinics Opened 22 28 Greenfield Clinics Opened 1 5 Franchised Clinics Acquired 0 0 Clinics in Development 218 295 370 399 442 513 312 246 579 666

 

 

37 99 126 121 132 Dec. 31, 2017 Dec. 31, 2018 Dec. 31, 2019 Dec. 31, 2020 Sept. 30, 2021 616 715 841 962 1094 Dec. 31, 2017 Dec. 31, 2018 Dec. 31, 2019 Dec. 31, 2020 Sept. 30, 2021 112 155 204 253 295 Dec. 31, 2017 Dec. 31, 2018 Dec. 31, 2019 Dec. 31, 2020 Sept. 30, 2021 132 Franchise Licenses Sold in YTD 2021 © 2020 The Joint Corp. All Rights Reserved. 6 1 Of the 1,094 franchise licenses sold as of September 30, 2021, 295 are in active development, 666 are currently operating and th e balance represents terminated/closed licenses. • 82% sold by RDs in 2021 • 70% of clinics supported by 21 RDs at September 30, 2021 • RDs cover 59% of Metropolitan Statistical Areas (MSAs) at September 30, 2021 Gross Cumulative Franchise Licenses Sold 1 Franchise Licenses Sold Annually Clinics in Active Development 1

 

 

Exciting Promotions 7 © 2021 The Joint Corp. All Rights Reserved. Q3 Education Campaign • Promoting the benefits of chiropractic care for kids • During Back - to - School season • Secured 230+ million total media impressions Q4 Holiday Promotions • Annual Black Friday package sale • Year - End membership promotion • Direct marketing campaigns offer patients with time limited opportunities

 

 

Successfully Launched New IT Platform in July 2021 8 Thank You To our franchises and clinic users for their enormous effort to make this launch successful. © 2021 The Joint Corp. All Rights Reserved.

 

 

Q3 2021 Financial Results 9 $ in M 1 Q3 2021 Q3 2020 Differences Revenue • Corporate clinics • Franchise fees $21.0 11.6 9.4 $15.4 8.4 7.0 $5.6 3.2 2.4 36% 38% 33% Cost of revenue 2.3 1.7 0.6 34% Sales and marketing 2.9 1.8 1.0 56% Depreciation and amortization 1.7 0.7 0.9 133% G&A 12.8 9.4 3.4 36% Operating Income 1.3 1.7 (0.4) (21)% Tax Benefit 0.6 (0.1) 0.7 9X Net Income/(Loss) 1.9 1.6 0.0 21% Adj. EBITDA 2 3.3 2.6 0.7 25% © 2021 The Joint Corp. All Rights Reserved. 1 Due to rounding, numbers may not add up precisely to the totals. 2 Reconciliation of Adjusted EBITDA to GAAP earnings is included in the Appendix.

 

 

YTD Sept. 30, 2021 Financial Results 10 $ in M 1 YTD Sept. 30, 2021 YTD Sept. 30, 2020 Differences Revenue • Corporate clinics • Franchise fees $58.8 32.5 26.2 $41.7 22.6 19.1 $17.1 10.0 7.1 41% 44% 37% Cost of revenue 6.1 4.6 1.5 34% Sales and marketing 8.5 5.7 2.8 50% Depreciation and amortization 4.3 2.1 2.2 107% G&A 34.5 26.6 7.9 30% Operating Income 5.3 2.7 2.6 97% Tax Benefit 1.6 (0.1) 1.8 14X Net Income/(Loss) 6.9 2.5 4.4 174% Adj. EBITDA 2 10.5 5.4 5.1 95% 1 Due to rounding, numbers may not add up precisely to the totals. 2 Reconciliation of Adjusted EBITDA to GAAP earnings is included in the Appendix. © 2021 The Joint Corp. All Rights Reserved. Unrestricted cash $19.5 M at Sept. 30, 2021, compared to $20.6M at Dec. 31, 2020

 

 

Raising 2021 Guidance 11 $ in M 2020 Actual 2021 Low Guidance 2021 High Guidance Midpoint 2021 vs 2020 Revenues $58.7 $80.0 $81.0 Up 37% Adjusted EBITDA 1 $9.1 $13.0 $14.0 Up 48% New Franchised Clinic Openings 70 105 115 Up 57% New Company - owned/Managed Clinics 2 4 25 35 7.5X greater © 2021 The Joint Corp. All Rights Reserved. 1 Reconciliation of Adjusted EBITDA to GAAP earnings is included in the appendix. 2 Through a combination of both greenfields and buybacks.

 

 

Substantial Opportunity for Market Share Growth © 2021 The Joint Corp. All Rights Reserved. 12 1 JAMA US Healthcare spending by Payer and Health Condition, 1996 - 2016, March 3, 2020| 2 IBIS US Industry Report, Chiropractors in the US, April 2021 | 3 Internal Chiropractic Competitive Analysis, August 2019 | 4 Apex Reimbursement Specialists, Inc., 2018 The Joint Chiropractic TTM $340M, ~ 2% Other Chains 3 $300M, ~ 2% Independents $17.9B, ~ 96% • Annual spending on back pain: $134B 1 • Chiropractic care: $17.9B 2 • Total chains make up ~4% of chiropractic 3 • By contrast, dentistry chains (DSOs) account for nearly 12% 4

 

 

$1.3 $2.8 $8.1 $22.3 $46.2 $70.1 $98.6 $126.9 $165.1 $220.3 $260.0 $259.0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Sep-21 Resilient Business Model Drives Long - term Growth 13 People will continue to seek more noninvasive, holistic ways to manage their pain. We’ll be there to treat them. System - wide Sales ($ in M) 70% CAGR 1 (2010 - 2020) The Joint Corp. 10 - yr. CAGR 70% 1 vs. Industry CAGR 5.4% 2* 1 For the period ended Dec. 31, 2020 | 2 June 2021 Kentley Insights Chiropractic Care Market Research Report © 2021 The Joint Corp. All Rights Reserved.

 

 

Non - GAAP Measure Definition 14 This presentation includes non - GAAP financial measures. System - wide sales include sales at all clinics, whether operated by the company or by fran chisees. While franchised sales are not recorded as revenues by the company, management believes the information is important in understandi ng 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 financia l h ealth 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 performan ce, as management believes they provide a more transparent view of the Company’s underlying operating performance and operating trends than GAAP measures alone. Reconciliat ion s of net loss to EBITDA and Adjusted EBITDA are presented where applicable. The Company defines EBITDA as net income/(loss) before net interes t, tax expense, depreciation, and amortization expenses. The Company defines Adjusted EBITDA as EBITDA before acquisition - related expenses, bargain purchase net gain, gain/(loss) on disposition or impairment, and stock - based compensation expenses. EBITDA and Adjusted EBITDA do not represent and should not be considered alternatives to net income or cash flows from operat ion s, as determined by accounting principles generally accepted in the United States, or GAAP. While EBITDA and Adjusted EBITDA are frequently 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 fil ed with the SEC. © 2021 The Joint Corp. All Rights Reserved.

 

 

Q3 2021 Segment Results 15 2021 Q3 © 2021 The Joint Corp. All Rights Reserved. $ in 000s

 

 

YTD Sept. 30, 2021 Segment Results 16 2021 © 2021 The Joint Corp. All Rights Reserved. $ in 000s

 

 

GAAP – Non - GAAP Reconciliation 17 © 2021 The Joint Corp. All Rights Reserved. $ in 000s

 

 

Jake Singleton, CFO [email protected] The Joint Corp. | 16767 N. Perimeter Dr., Suite 110, Scottsdale, AZ 85260 | (480) 245 - 5960 https://www.facebook.com/thejointchiro @ thejointchiro https://twitter.com/thejointchiro @ thejointchiro https://www.youtube.com/thejointcorp @ thejointcorp Peter D. Holt, President and CEO [email protected] The Joint Corp. | 16767 N. Perimeter Dr., Suite 110, Scottsdale, AZ 85260 | (480) 245 - 5960 Kirsten Chapman, LHA Investor Relations [email protected] LHA Investor Relations | One Market Street, Spear Tower, Suite 3600, San Francisco, CA 94105 | (415) 433 - 3777 18 The Joint Corp. Contact Information © 2021 The Joint Corp. All Rights Reserved.