The Joint Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Nature of Operations and Summary of Significant Accounting Policies (Tables)

Nature of Operations and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2022

The following table summarizes the number of clinics in operation under franchise agreements and as company-owned or managed clinics for the three months ended March 31, 2022 and 2021:


	Three Months Ended March 31,
Franchised clinics:	2022	2021
Clinics open at beginning of period	610	515
Opened during the period	27	12
Sold during the period	—	—
Closed during the period	(1)	—
Clinics in operation at the end of the period	636	527

	Three Months Ended March 31,
Company-owned or managed clinics:	2022	2021
Clinics open at beginning of period	96	64
Opened during the period	4	1
Acquired during the period	—	—
Closed during the period	—	—
Clinics in operation at the end of the period	100	65

Total clinics in operation at the end of the period	736	592

Clinic licenses sold but not yet developed	239	223
Executed letters of intent for future clinic licenses	39	37

Schedule of Earnings (Loss) per Common Share


	Three Months Ended March 31,
	2022		2021
Net (loss) income	$	(205,797)	$	2,314,287

Weighted average common shares outstanding - basic	14,432,652		14,178,542
Effect of dilutive securities:
Unvested restricted stock and stock options	—		676,267
Weighted average common shares outstanding - diluted	14,432,652		14,854,809

Basic (loss) earnings per share	$	(0.01)	$	0.16
Diluted (loss) earnings per share	$	(0.01)	$	0.16

The following common stock equivalents were excluded from the computation of diluted (loss) earnings per share for the periods presented because including them would have been antidilutive:


	Three Months Ended March 31,
Weighted average dilutive securities:	2022	2021
Restricted stocks	7,447	1,698
Stock options	502,107	14,801