Annual report pursuant to Section 13 and 15(d)

Consolidated Income Statements

v3.20.4
Consolidated Income Statements - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Revenues:    
Total revenues $ 58,682,976 $ 48,450,900
Cost of revenues:    
Total cost of revenues 6,507,468 5,565,917
Selling and marketing expenses 7,804,420 6,913,709
Depreciation and amortization 2,734,462 1,899,257
General and administrative expenses 36,195,817 30,543,030
Total selling, general and administrative expenses 46,734,699 39,355,996
Net (gain) loss on disposition or impairment (51,321) 114,352
Income from operations 5,492,130 3,414,635
Other income (expense):    
Bargain purchase gain 0 19,298
Other (expense), net (79,478) (61,515)
Total other (expense) (79,478) (42,217)
Income before income tax (benefit) expense 5,412,652 3,372,418
Income tax (benefit) expense (7,754,662) 48,706
Net income and comprehensive income 13,167,314 3,323,712
Less: income attributable to the non-controlling interest 0 0
Net income attributable to The Joint Corp. stockholders $ 13,167,314 $ 3,323,712
Earnings per share:    
Basic earnings per share (in dollars per share) $ 0.94 $ 0.24
Diluted earnings per share (in dollars per share) $ 0.90 $ 0.23
Basic weighted average shares (in shares) 14,003,708 13,819,149
Diluted weighted average shares (in shares) 14,582,877 14,467,567
Revenues from company-owned or managed clinics    
Revenues:    
Total revenues $ 31,771,288 $ 25,807,584
Royalty fees    
Revenues:    
Total revenues 15,886,051 13,557,170
Franchise fees/Regional developer cost of revenues    
Revenues:    
Total revenues 2,100,800 1,791,545
Cost of revenues:    
Cost of revenues 6,090,203 5,159,778
Advertising fund revenue    
Revenues:    
Total revenues 4,506,413 3,884,055
Software fees/IT cost of revenues    
Revenues:    
Total revenues 2,694,520 1,865,779
Cost of revenues:    
Cost of revenues 417,265 406,139
Regional developer fees    
Revenues:    
Total revenues 876,804 803,849
Other revenues    
Revenues:    
Total revenues $ 847,100 $ 740,918