Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.4
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 23,601,810 $ 25,051,355
Restricted cash 700,058 945,081
Accounts receivable, net 2,849,864 2,586,381
Deferred franchise and regional development costs, current portion 945,933 1,055,582
Prepaid expenses and other current assets 1,744,556 1,787,994
Discontinued operations current assets ($1.0 million and $1.1 million attributable to VIEs, respectively) 22,246,318 43,151,055
Total current assets 52,088,539 74,577,448
Property and equipment, net 3,159,226 3,206,754
Operating lease right-of-use asset 1,572,173 555,536
Deferred franchise and regional development costs, net of current portion 3,827,129 4,513,891
Deposits and other assets 319,460 300,779
Total assets 60,966,527 83,154,408
Current liabilities:    
Accounts payable 1,588,665 1,750,938
Accrued expenses 1,501,838 1,505,827
Co-op funds liability 700,058 945,082
Payroll liabilities 4,055,752 3,551,173
Operating lease liability, current portion 194,179 483,337
Deferred franchise fee revenue, current portion 2,519,018 2,546,926
Upfront regional developer fees, current portion 277,394 288,095
Other current liabilities 611,231 603,250
Discontinued operations current liabilities ($6.1 million and $7.1 million attributable to VIEs, respectively) 21,368,446 37,367,459
Total current liabilities 32,816,581 49,042,087
Operating lease liability, net of current portion 1,815,527 311,689
Deferred franchise fee revenue, net of current portion 10,899,271 12,450,179
Upfront regional developer fees, net of current portion 355,556 672,334
Total liabilities 45,886,935 62,476,289
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Series A preferred stock, $0.001 par value; 50,000 shares authorized, zero issued and outstanding, respectively 0 0
Common stock, $0.001 par value; 20,000,000 shares authorized, 15,471,715 shares issued and 14,142,626 shares outstanding and 15,192,893 shares issued and 15,159,878 shares outstanding, respectively 15,471 15,192
Additional paid-in capital 52,026,407 49,210,455
Treasury stock 1,329,089 shares and 33,015 shares, at cost, respectively (12,192,081) (870,058)
Accumulated deficit (24,795,205) (27,702,470)
Total The Joint Corp. stockholders’ equity 15,054,592 20,653,119
Non-controlling Interest 25,000 25,000
Total equity 15,079,592 20,678,119
Total liabilities and stockholders’ equity $ 60,966,527 $ 83,154,408