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, 2023

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, 2023 and 2022:


	Three Months Ended March 31,
Franchised clinics:	2023	2022
Clinics open at beginning of period	712	610
Opened during the period	29	27
Sold during the period	—	—
Closed during the period	(1)	(1)
Clinics in operation at the end of the period	740	636

	Three Months Ended March 31,
Company-owned or managed clinics:	2023	2022
Clinics open at beginning of period	126	96
Opened during the period	4	4
Acquired during the period	—	—
Closed during the period	—	—
Clinics in operation at the end of the period	130	100

Total clinics in operation at the end of the period	870	736

Clinic licenses sold but not yet developed	178	239
Future clinic licenses subject to executed letters of intent	39	39

Schedule of Earnings (Loss) per Common Share


	Three Months Ended March 31,
	2023		2022
Net (loss) income	$	2,301,036	$	(205,797)

Weighted average common shares outstanding - basic	14,566,185		14,432,652
Effect of dilutive securities:
Unvested restricted stock and stock options	295,549		—
Weighted average common shares outstanding - diluted	14,861,734		14,432,652

Basic (loss) earnings per share	$	0.16	$	(0.01)
Diluted (loss) earnings per share	$	0.15	$	(0.01)

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:	2023	2022
Restricted stocks	—	7,447
Stock options	92,652	502,107