Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 21,918,175 $ 25,051,355
Restricted cash 979,384 945,081
Accounts receivable, net 2,970,097 2,586,381
Deferred franchise and regional development costs, current portion 1,045,497 1,055,582
Prepaid expenses and other current assets 3,798,747 1,787,994
Discontinued operations current assets ($1.1 million and $1.1 million attributable to VIEs, respectively) 40,018,794 43,151,055
Total current assets 70,730,694 74,577,448
Property and equipment, net 3,061,663 3,206,754
Operating lease right-of-use asset 1,742,749 555,536
Deferred franchise and regional development costs, net of current portion 4,268,991 4,513,891
Deposits and other assets 289,212 300,779
Total assets 80,093,309 83,154,408
Current liabilities:    
Accounts payable 1,022,141 1,750,938
Accrued expenses 2,005,609 1,505,827
Co-op funds liability 998,765 945,082
Payroll liabilities 2,188,667 3,551,173
Operating lease liability, current portion 240,889 483,337
Deferred franchise fee revenue, current portion 2,525,924 2,546,926
Upfront regional developer fees, current portion 284,561 288,095
Other current liabilities 687,651 603,250
Discontinued operations current liabilities ($6.8 million and $7.1 million attributable to VIEs, respectively) 32,752,879 37,367,459
Total current liabilities 42,707,086 49,042,087
Operating lease liability, net of current portion 2,009,705 311,689
Deferred franchise fee revenue, net of current portion 11,936,488 12,450,179
Upfront regional developer fees, net of current portion 602,638 672,334
Total liabilities 57,255,917 62,476,289
Commitments and contingencies (Note 9)
Stockholders' equity:    
Series A preferred stock, $0.001 par value; 50,000 shares authorized, 0 issued and outstanding, respectively 0 0
Common stock, $0.001 par value; 20,000,000 shares authorized, 15,344,458 shares issued and 15,310,664 shares outstanding and 15,192,893 shares issued and 15,159,878 outstanding, respectively 15,344 15,192
Additional paid-in capital 50,410,220 49,210,455
Treasury stock 33,794 shares and 33,015 shares, at cost, respectively (878,498) (870,058)
Accumulated deficit (26,734,674) (27,702,470)
Total The Joint Corp. stockholders' equity 22,812,392 20,653,119
Non-controlling Interest 25,000 25,000
Total equity 22,837,392 20,678,119
Total liabilities and stockholders' equity $ 80,093,309 $ 83,154,408