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, 2021

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, 2021 and 2020:


	Three Months Ended March 31,
Franchised clinics:	2021	2020
Clinics open at beginning of period	515	453
Opened during the period	12	16
Sold during the period	—	—
Closed during the period	—	—
Clinics in operation at the end of the period	527	469

	Three Months Ended March 31,
Company-owned or managed clinics:	2021	2020
Clinics open at beginning of period	64	60
Opened during the period	1	1
Acquired during the period	—	—
Closed during the period	—	—
Clinics in operation at the end of the period	65	61

Total clinics in operation at the end of the period	592	530

Clinic licenses sold but not yet developed	223	176
Executed letters of intent for future clinic licenses	37	36

Schedule of Earnings (Loss) per Common Share


	Three Months Ended March 31,
	2021		2020
Net Income	$	2,314,287	$	814,947

Weighted average common shares outstanding - basic	14,178,542		13,890,673
Effect of dilutive securities:
Unvested restricted stock and stock options	676,267		592,911
Weighted average common shares outstanding - diluted	14,854,809		14,483,584

Basic earnings per share	$	0.16	$	0.06
Diluted earnings per share	$	0.16	$	0.06

Potentially dilutive securities excluded from the calculation of diluted net income per common share as the effect would be anti-dilutive were as follows:


	Three Months Ended March 31,
Weighted average potentially dilutive securities:	2021	2020
Unvested restricted stock	1,698	—
Stock options	14,801	101,692