The Joint Corp. · NASDAQ:JYNT
The Joint — JOINT — Q1 2021 Earnings Presentation
17 slides from The Joint's earnings presentation, May 6, 2021
Slide 1: Q1 2021 Financial Results
© 2021 The Joint Corp. All Rights Reserved. 1 Q1 2021 Financial Results As of March 31, 2021 | Reported on May 6, 2021
Slide 2: Safe Harbor Statement
Safe Harbor Statement © 2021 The Joint Corp. All Rights Reserved. 2 Certain statements contained in this presentation are "forward - looking statements” about future events and expectations. Forward - looking statements are based on our beliefs, assumptions and expectations of industry trends, our f
Slide 3: Revolutionizing Access to Chiropractic Care
© 2021 The Joint Corp. All Rights Reserved. 3 BUILD BRAND INCREASE AWARENESS ATTRACT NEW PATIENTS OPEN NEW CLINICS Revolutionizing Access to Chiropractic Care As an essential healthcare service, The Joint Chiropractic’s mission is to improve the quality of life through routine and affordable chiropr
Slide 4: Resilient Business Model Continues to Deliver
Resilient Business Model Continues to Deliver 4 Q1 2021 Q1 2020 Revenue $17.5M Up 29% Op. Income $2.0M Up 162% Adjusted EBITDA 2 $3.5M Up 108% Unrestricted cash $17.8 M at Mar. 31, 2021, compared to $20.6M Dec. 31, 2020 © 2021 The Joint Corp. All Rights Reserved. 1 Comparable sales include only the
Slide 5: Awards for Outstanding 2020 Performance
Awards for Outstanding 2020 Performance © 2021 The Joint Corp. All Rights Reserved. 5 • 15 clinics Achieved GO Elite status in 2020* $1.5M+ The undisputed sales champion achieved over $1.5M in sales for the second year in a row. 169 clinics Achieved more than $550k in sales in 2020, up 19% from 2019
Slide 6: Surpassed 600 Clinics in April 2021, Driving to 1,000 Clinics by End of 2023
12 26 82 175 242 265 309 352 394 453 515 527 4 47 61 47 48 60 64 65 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q1-21 TOTAL CLINICS OPEN Franchise Company Owned/Managed Surpassed 600 Clinics in April 2021, Driving to 1,000 Clinics by the End of 2023 © 2021 The Joint Corp. All Rights Reser
Slide 7: Franchise License Sales Drive Growth
37 99 126 121 26 Dec. 31, 2017 Dec. 31, 2018 Dec. 31, 2019 Dec. 31, 2020 Mar. 31, 2021 616 715 841 962 988 Dec. 31, 2017 Dec. 31, 2018 Dec. 31, 2019 Dec. 31, 2020 Mar. 31, 2021 112 155 204 253 260 Dec. 31, 2017 Dec. 31, 2018 Dec. 31, 2019 Dec. 31, 2020 Mar. 31, 2021 Franchise License Sales Drive Gro
Slide 8: Surging New Patient Acquisition in March
Surging New Patient Acquisition in March © 2021 The Joint Corp. All Rights Reserved. 8 All - Time Record Multiple Factors Driving Momentum on New Patient Counts • Increases in local advertising spending by franchisees • Continued success of brand building efforts • Growing strength of regional marke
Slide 9: Finalizing New IT Platform
Finalizing New IT Platform 9 • Improving capabilities: POS, financial systems, business intelligence, marketing automation, and patient feedback • Implement robust training and certification • Formal rollout targeted for summer 2021 © 2021 The Joint Corp. All Rights Reserved.
Slide 10: Q1 2021 Financial Results
Q1 2021 Financial Results 10 $ in M 1 Q1 2021 Q1 2020 Differences Revenue • Corporate clinics • Franchise fees $17.5 9.5 8.0 $13.6 7.3 6.3 $3.9 2.2 1.7 29% 30% 27% Cost of revenue 1.8 1.5 0.3 19% Sales and marketing 2.5 2.1 0.4 21% Depreciation and amortization 1.2 0.7 0.5 79% G&A 10.1 8.7 1.4 16% O
Slide 11: Raising 2021 Financial Guidance
Raising 2021 Financial Guidance 11 1 The guidance provided on March 5, 2021: Revenue expected between $73M and $77M and Adjusted EBITDA expected between $10.5M an d $ 12M. 2 Reconciliation of Adjusted EBITDA to GAAP earnings is included in the appendix. | 3 Through a combination of both greenfields
Slide 12: Substantial Opportunity for Market Share Growth
Substantial Opportunity for Market Share Growth © 2021 The Joint Corp. All Rights Reserved. 12 1 Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2016 - 17 Edition| 2 IBIS US Industry Report, Chiropractors in the US, April 2020 3 Internal Chiropractic Competitive
Slide 13: Resilient Business Model Drives Long-term Growth
Resilient Business Model Drives Long - term Growth 13 People will continue to seek more noninvasive, holistic ways to manage their pain. We’ll be there to treat them. System - wide Gross Sales ($ in M) 70% CAGR 1 (2010 - 2020) The Joint Corp. 10 - yr. CAGR 70% 1 vs. Industry CAGR 1.4% 2* 1 For the p
Slide 14: Non-GAAP Measure Definition
Non - GAAP Measure Definition 14 This presentation includes non - GAAP financial measures. System - wide sales include sales at all clinics, whether operated by the company or by fran chisees. While franchised sales are not recorded as revenues by the company, management believes the information is
Slide 15: Q1 2021 Segment Results
Q1 2021 Segment Results 15 2021 Q1 © 2021 The Joint Corp. All Rights Reserved.
Slide 16: GAAP – Non-GAAP Reconciliation
GAAP – Non - GAAP Reconciliation 16 © 2021 The Joint Corp. All Rights Reserved.
Slide 17: Contact Information
Jake Singleton, CFO jake.singleton@thejoint.com The Joint Corp. | 16767 N. Perimeter Dr., Suite 110, Scottsdale, AZ 85260 | (480) 245 - 5960 https://www.facebook.com/thejointchiro @ thejointchiro https://twitter.com/thejointchiro @ thejointchiro https://www.youtube.com/thejointcorp @ thejointcorp Pe