Quarterly report pursuant to Section 13 or 15(d)

Nature of Operations and Summary of Significant Accounting Policies - Restatement of Previously Issued Interim Consolidated Financial Statements (Unaudited and Restated) (Details)

v3.23.3
Nature of Operations and Summary of Significant Accounting Policies - Restatement of Previously Issued Interim Consolidated Financial Statements (Unaudited and Restated) (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
ASSETS                    
Intangible assets, net $ 8,623,115     $ 8,037,766     $ 8,623,115 $ 8,037,766 $ 10,928,295  
Deferred tax assets ($1.0 million and $1.0 million attributable to VIE) 11,741,090     12,448,558     11,741,090 12,448,558 11,928,152  
Total assets 98,572,626     89,499,985     98,572,626 89,499,985 93,490,377  
Current liabilities:                    
Deferred franchise and regional development fee revenue, current portion       0       0    
Deferred franchise revenue, current portion 2,512,350     2,410,951     2,512,350 2,410,951 2,468,601  
Upfront regional developer fees, current portion 383,972     564,042     383,972 564,042 487,250  
Other current liabilities 516,249     596,033     516,249 596,033 597,294  
Total current liabilities 27,674,539     21,711,239     27,674,539 21,711,239 23,217,017  
Deferred franchise and regional development fee revenue, net of current portion       0       0    
Deferred franchise revenue, net of current portion 13,980,758     13,870,401     13,980,758 13,870,401 14,161,134  
Upfront regional developer fees, net of current portion 1,099,718     1,733,779     1,099,718 1,733,779 1,500,278  
Other liabilities ($1.3 million and $1.3 million attributable to VIE) 1,287,880     1,189,837     1,287,880 1,189,837 1,287,879  
Total liabilities 63,287,531     58,002,065     63,287,531 58,002,065 60,902,534  
Stockholders' equity:                    
Accumulated deficit (10,863,978)     (12,916,636)     (10,863,978) (12,916,636) (12,153,380)  
Total The Joint Corp. stockholders' equity 35,260,095     31,472,920     35,260,095 31,472,920 32,562,843  
Total equity 35,285,095 $ 35,476,494 $ 35,316,037 31,497,920 $ 30,215,859 $ 30,683,485 35,285,095 31,497,920 32,587,843 $ 30,308,684
Total liabilities and stockholders' equity 98,572,626     89,499,985     98,572,626 89,499,985 93,490,377  
Revenues:                    
Total revenues 29,473,949     26,449,819     87,081,953 73,573,933    
Cost of revenues:                    
Total cost of revenues 2,604,100     2,337,095     7,674,296 6,705,169    
Depreciation and amortization 2,349,206     1,779,924     6,893,529 4,578,450    
General and administrative expenses 20,212,750     17,796,806     60,156,022 51,900,533    
Total selling, general and administrative expenses 26,862,973     23,116,017     80,218,630 67,145,483    
Loss from operations (898,047)     732,316     (1,925,711) (636,859)    
Income before income tax expense (benefit) (904,291)     707,081     1,782,688 (697,527)    
Income tax (benefit) expense (188,018)     (24,015)     493,286 (560,976)    
Net income $ (716,273) (320,489) 2,326,164 $ 731,096 (871,867) 4,220 $ 1,289,402 $ (136,551)    
Earnings per share:                    
Basic earnings (loss) per share (in dollars per share) $ (0.05)     $ 0.05     $ 0.09 $ (0.01)    
Diluted earnings (loss) per share (in dollars per share) $ (0.05)     $ 0.05     $ 0.09 $ (0.01)    
Statement of Stockholders' Equity [Abstract]                    
Total equity $ 35,285,095 35,476,494 35,316,037 $ 31,497,920 30,215,859 30,683,485 $ 35,285,095 $ 31,497,920 32,587,843 30,308,684
Cash flows from operating activities:                    
Net income (loss) (716,273) (320,489) 2,326,164 731,096 (871,867) 4,220 1,289,402 (136,551)    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:                    
Depreciation and amortization 2,349,206     1,779,924     6,893,529 4,578,450    
Deferred income taxes             187,062 (961,759)    
Changes in operating assets and liabilities, net of acquisitions:                    
Upfront regional developer fees             (496,730) (977,841)    
Deferred revenue             (551,226) 1,161,393    
Other liabilities             34,638 728,449    
Net cash provided by (used in) operating activities             11,294,757 3,032,415    
Cash flows from investing activities:                    
Reacquisition and termination of regional developer rights               0    
Net cash used in investing activities             (4,883,148) (12,288,929)    
Decrease in cash             6,591,936 (8,944,196)    
Accumulated Deficit                    
Stockholders' equity:                    
Total equity (10,863,978) (10,147,705) (9,827,216) (12,916,636) (13,647,732) (12,775,865) (10,863,978) (12,916,636) (12,153,380) (12,780,085)
Cost of revenues:                    
Net income (716,273) (320,489) 2,326,164 731,096 (871,867) 4,220        
Statement of Stockholders' Equity [Abstract]                    
Total equity (10,863,978) (10,147,705) (9,827,216) (12,916,636) (13,647,732) (12,775,865) (10,863,978) (12,916,636) (12,153,380) (12,780,085)
Cash flows from operating activities:                    
Net income (loss) (716,273) (320,489) 2,326,164 731,096 (871,867) 4,220        
Total The Joint Corp. stockholders' equity                    
Stockholders' equity:                    
Total equity 35,260,095 35,451,494 35,291,037 31,472,920 30,190,859 30,658,485 35,260,095 31,472,920 32,562,843 30,283,684
Cost of revenues:                    
Net income (716,273) (320,489) 2,326,164 731,096 (871,867) 4,220        
Statement of Stockholders' Equity [Abstract]                    
Total equity 35,260,095 35,451,494 35,291,037 31,472,920 30,190,859 30,658,485 35,260,095 31,472,920 $ 32,562,843 30,283,684
Cash flows from operating activities:                    
Net income (loss) (716,273) $ (320,489) $ 2,326,164 731,096 (871,867) 4,220        
Regional developer fees                    
Revenues:                    
Total revenues       0       0    
Franchise fees/Franchise and regional development cost of revenues                    
Revenues:                    
Total revenues 754,029     642,405     2,179,822 1,970,256    
Cost of revenues:                    
Cost of revenues $ 2,228,689     1,988,764     $ 6,605,964 5,694,723    
As Previously Reported                    
ASSETS                    
Intangible assets, net       10,162,506       10,162,506    
Deferred tax assets ($1.0 million and $1.0 million attributable to VIE)       9,115,231       9,115,231    
Total assets       88,291,398       88,291,398    
Current liabilities:                    
Deferred franchise and regional development fee revenue, current portion       2,974,993       2,974,993    
Deferred franchise revenue, current portion       0       0    
Upfront regional developer fees, current portion       0       0    
Other current liabilities       522,500       522,500    
Total current liabilities       21,637,706       21,637,706    
Deferred franchise and regional development fee revenue, net of current portion       15,604,180       15,604,180    
Deferred franchise revenue, net of current portion       0       0    
Upfront regional developer fees, net of current portion       0       0    
Other liabilities ($1.3 million and $1.3 million attributable to VIE)       27,230       27,230    
Total liabilities       56,765,925       56,765,925    
Stockholders' equity:                    
Accumulated deficit       (12,889,083)       (12,889,083)    
Total The Joint Corp. stockholders' equity       31,500,473       31,500,473    
Total equity       31,525,473 30,483,395 29,734,412   31,525,473   29,569,627
Total liabilities and stockholders' equity       88,291,398       88,291,398    
Revenues:                    
Total revenues       26,603,000       74,098,856    
Cost of revenues:                    
Total cost of revenues       2,490,276       7,230,092    
Depreciation and amortization       2,011,768       5,341,420    
General and administrative expenses       17,796,806       49,703,451    
Total selling, general and administrative expenses       23,347,861       65,711,371    
Loss from operations       500,472       797,253    
Income before income tax expense (benefit)       475,237       736,585    
Income tax (benefit) expense       (15,876)       106,527    
Net income       $ 491,113       $ 630,058    
Earnings per share:                    
Basic earnings (loss) per share (in dollars per share)       $ 0.03       $ 0.04    
Diluted earnings (loss) per share (in dollars per share)       $ 0.03       $ 0.04    
Statement of Stockholders' Equity [Abstract]                    
Total equity       $ 31,525,473 30,483,395 29,734,412   $ 31,525,473   29,569,627
Cash flows from operating activities:                    
Net income (loss)       491,113       630,058    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:                    
Depreciation and amortization       2,011,768       5,341,420    
Deferred income taxes               73,403    
Changes in operating assets and liabilities, net of acquisitions:                    
Upfront regional developer fees               0    
Deferred revenue               636,470    
Other liabilities               360,790    
Net cash provided by (used in) operating activities               5,682,415    
Cash flows from investing activities:                    
Reacquisition and termination of regional developer rights               (2,650,000)    
Net cash used in investing activities               (14,938,929)    
Decrease in cash               (8,944,196)    
As Previously Reported | Accumulated Deficit                    
Stockholders' equity:                    
Total equity       (12,889,083) (13,380,196) (13,724,938)   (12,889,083)   (13,519,142)
Statement of Stockholders' Equity [Abstract]                    
Total equity       (12,889,083) (13,380,196) (13,724,938)   (12,889,083)   (13,519,142)
As Previously Reported | Total The Joint Corp. stockholders' equity                    
Stockholders' equity:                    
Total equity       31,500,473 30,458,395 29,709,412   31,500,473   29,544,627
Statement of Stockholders' Equity [Abstract]                    
Total equity       31,500,473 30,458,395 29,709,412   31,500,473   29,544,627
As Previously Reported | Regional developer fees                    
Revenues:                    
Total revenues       153,181       524,923    
As Previously Reported | Franchise fees/Franchise and regional development cost of revenues                    
Cost of revenues:                    
Cost of revenues       2,141,945       6,219,646    
Adjustments                    
ASSETS                    
Intangible assets, net       (2,124,740)       (2,124,740)    
Deferred tax assets ($1.0 million and $1.0 million attributable to VIE)       3,333,327       3,333,327    
Total assets       1,208,587       1,208,587    
Current liabilities:                    
Deferred franchise and regional development fee revenue, current portion       (2,974,993)       (2,974,993)    
Deferred franchise revenue, current portion       2,410,951       2,410,951    
Upfront regional developer fees, current portion       564,042       564,042    
Other current liabilities       73,533       73,533    
Total current liabilities       73,533       73,533    
Deferred franchise and regional development fee revenue, net of current portion       (15,604,180)       (15,604,180)    
Deferred franchise revenue, net of current portion       13,870,401       13,870,401    
Upfront regional developer fees, net of current portion       1,733,779       1,733,779    
Other liabilities ($1.3 million and $1.3 million attributable to VIE)       1,162,607       1,162,607    
Total liabilities       1,236,140       1,236,140    
Stockholders' equity:                    
Accumulated deficit       (27,553)       (27,553)    
Total The Joint Corp. stockholders' equity       (27,553)       (27,553)    
Total equity       (27,553) (267,537) 949,073   (27,553)   739,057
Total liabilities and stockholders' equity       1,208,587       1,208,587    
Revenues:                    
Total revenues       (153,181)       (524,923)    
Cost of revenues:                    
Total cost of revenues       (153,181)       (524,923)    
Depreciation and amortization       (231,844)       (762,970)    
General and administrative expenses       0       2,197,082    
Total selling, general and administrative expenses       (231,844)       1,434,112    
Loss from operations       231,844       (1,434,112)    
Income before income tax expense (benefit)       231,844       (1,434,112)    
Income tax (benefit) expense       (8,139)       (667,503)    
Net income       $ 239,983       $ (766,609)    
Earnings per share:                    
Basic earnings (loss) per share (in dollars per share)       $ 0.02       $ (0.05)    
Diluted earnings (loss) per share (in dollars per share)       $ 0.02       $ (0.05)    
Statement of Stockholders' Equity [Abstract]                    
Total equity       $ (27,553) (267,537) 949,073   $ (27,553)   739,057
Cash flows from operating activities:                    
Net income (loss)       239,983       (766,609)    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:                    
Depreciation and amortization       (231,844)       (762,970)    
Deferred income taxes               (1,035,162)    
Changes in operating assets and liabilities, net of acquisitions:                    
Upfront regional developer fees               (977,841)    
Deferred revenue               524,923    
Other liabilities               367,659    
Net cash provided by (used in) operating activities               (2,650,000)    
Cash flows from investing activities:                    
Reacquisition and termination of regional developer rights               2,650,000    
Net cash used in investing activities               2,650,000    
Decrease in cash               0    
Adjustments | Accumulated Deficit                    
Stockholders' equity:                    
Total equity       (27,553) (267,537) 949,073   (27,553)   739,057
Statement of Stockholders' Equity [Abstract]                    
Total equity       (27,553) (267,537) 949,073   (27,553)   739,057
Adjustments | Total The Joint Corp. stockholders' equity                    
Stockholders' equity:                    
Total equity       (27,553) (267,537) 949,073   (27,553)   739,057
Statement of Stockholders' Equity [Abstract]                    
Total equity       (27,553) $ (267,537) $ 949,073   (27,553)   $ 739,057
Adjustments | Regional developer fees                    
Revenues:                    
Total revenues       (153,181)       (524,923)    
Adjustments | Franchise fees/Franchise and regional development cost of revenues                    
Cost of revenues:                    
Cost of revenues       $ (153,181)       $ (524,923)