Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 29,699,953 $ 25,051,355
Restricted cash 1,013,182 945,081
Accounts receivable, net 2,901,028 2,586,381
Deferred franchise and regional development costs, current portion 1,111,248 1,055,582
Prepaid expenses and other current assets 2,057,868 1,787,994
Discontinued operations current assets ($1.1 million and $1.1 million attributable to VIEs, respectively) 23,719,082 43,151,055
Total current assets 60,502,361 74,577,448
Property and equipment, net 3,035,659 3,206,754
Operating lease right-of-use asset 1,630,228 555,536
Deferred franchise and regional development costs, net of current portion 3,878,857 4,513,891
Deposits and other assets 338,376 300,779
Total assets 69,385,481 83,154,408
Current liabilities:    
Accounts payable 1,204,976 1,750,938
Accrued expenses 761,203 1,505,827
Co-op funds liability 1,013,182 945,082
Payroll liabilities 3,423,061 3,551,173
Operating lease liability, current portion 191,641 483,337
Deferred franchise fee revenue, current portion 2,520,824 2,546,926
Upfront regional developer fees, current portion 277,394 288,095
Other current liabilities 777,589 603,250
Discontinued operations current liabilities ($5.9 million and $7.1 million attributable to VIEs, respectively) 22,878,807 37,367,459
Total current liabilities 33,048,677 49,042,087
Operating lease liability, net of current portion 1,899,557 311,689
Deferred franchise fee revenue, net of current portion 11,290,223 12,450,179
Upfront regional developer fees, net of current portion 425,475 672,334
Total liabilities 46,663,932 62,476,289
Commitments and contingencies (Note 10)
Stockholders' equity:    
Series A preferred stock, $0.001 par value; 50,000 shares authorized, zero shares issued and outstanding, respectively 0 0
Common stock, $0.001 par value; 20,000,000 shares authorized, 15,433,861 shares issued and 15,172,257 shares outstanding and 15,192,893 shares issued and 15,159,878 shares outstanding, respectively 15,433 15,192
Additional paid-in capital 51,634,910 49,210,455
Treasury stock 261,604 shares and 33,015 shares, at cost, respectively (3,167,492) (870,058)
Accumulated deficit (25,786,302) (27,702,470)
Total The Joint Corp. stockholders' equity 22,696,549 20,653,119
Non-controlling Interest 25,000 25,000
Total equity 22,721,549 20,678,119
Total liabilities and stockholders' equity $ 69,385,481 $ 83,154,408