Balance Sheet

v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 29,811,667 $ 25,051,355
Restricted cash 1,187,688 945,081
Accounts receivable, net 2,790,722 2,586,381
Deferred franchise and regional development costs, current portion 966,559 1,055,582
Prepaid expenses and other current assets 2,706,235 1,787,994
Discontinued operations current assets ($1.1 million and $1.1 million attributable to VIEs, respectively) 26,289,685 43,151,055
Total current assets 63,752,556 74,577,448
Property and equipment, net 3,175,430 3,206,754
Operating lease right-of-use asset 1,686,945 555,536
Deferred franchise and regional development costs, net of current portion 4,281,676 4,513,891
Deposits and other assets 286,794 300,779
Total assets 73,183,401 83,154,408
Current liabilities:    
Accounts payable 1,582,410 1,750,938
Accrued expenses 1,284,567 1,505,827
Co-op funds liability 1,187,688 945,082
Payroll liabilities 2,392,659 3,551,173
Operating lease liability, current portion 189,142 483,337
Deferred franchise fee revenue, current portion 2,582,808 2,546,926
Upfront regional developer fees, current portion 277,394 288,095
Other current liabilities 636,230 603,250
Discontinued operations current liabilities ($6.6 million and $7.1 million attributable to VIEs, respectively) 25,377,786 37,367,459
Total current liabilities 35,510,684 49,042,087
Operating lease liability, net of current portion 1,982,211 311,689
Deferred franchise fee revenue, net of current portion 11,933,369 12,450,179
Upfront regional developer fees, net of current portion 495,394 672,334
Total liabilities 49,921,658 62,476,289
Commitments and contingencies (Note 9)
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, 15,364,522 shares issued and 15,330,728 shares outstanding and 15,192,893 shares issued and 15,159,878 outstanding, respectively 15,364 15,192
Additional paid-in capital 50,741,188 49,210,455
Treasury stock 33,794 shares and 33,015 shares, at cost, respectively (878,498) (870,058)
Accumulated deficit (26,641,311) (27,702,470)
Total The Joint Corp. stockholders' equity 23,236,743 20,653,119
Non-controlling Interest 25,000 25,000
Total equity 23,261,743 20,678,119
Total liabilities and stockholders' equity $ 73,183,401 $ 83,154,408

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