JYNT - Earnings call transcript Q3 2021

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Operator

Good day and thank you for standing by. Welcome to The Joint Corp Q3 2021 Financial Results Conference Call. At this time all participants are in listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. hand over to LHA David like Relations. Investor now the to conference Barnard, I'd ahead. go please Sir,

David Barnard

Thank morning, Lee. investor you, Good relations. of David LHA Barnard everyone. This is

our found CEO On close an provide with Peter financial the Singleton Holt, presentation President at for questions. Today Please we're it summary results call can of open Jake slide on be results for close XXXX and Corporation the a CFO detail call the the will metrics today September the update review will and will Joint quarter third issued https://ir.thejoint.com/events. financial business. using after and note The ended and quarter a performance and Peter market, our guidance, XXXX. XX its

already it a press investor have this company's the in not can found section of release of relations the website. copy you If be do

contribute be and on management. our expectations, business present continuing future including factors to strategy, subject the on operations, these assumptions, our that materially concerning Slide limited on our forward actual shortened could the results today. X, provided differences relating and uncertainties from make statements. not these to to include, of looking clinic based some plans are demand. patient could the the As are and to business predictions, including and objectives The today's and closures, that COVID-XX also that our hours please statements, are economy Factors differ and but forward-looking estimates statements risks we may forward-looking cause to discussion impact reduced statements temporary outbreak will we statements today's discussion, position made and operations, current includes future important advised affect financial Throughout of

clinics, personnel staff rapidly Our failure shortage. managed due a to posted market which our and company other on in lawsuits, and part qualified profitably opinions clinics risk to selling operate in or the labor owned filed on we December XX, our strategies to factors the to owned as company class the or inability XXXX. recruit annual and acquire common drive enough SEC our to chiropractors nationwide down other our managed intend, as our for failure could identify or develop as clinics, in the report of in internet described and negative with the year Form-XXK factors stock and action result price Short ended

our in reports updated As or described other any for on Form XX, X. November September quarterly filing XX-Q on material or revised filed SEC XX-Q any changes XXXX anticipate We subsequently filings.

of placing price a for we our market these SEC stock. our with you caution As factors, these results or the a and other risks review encourage of against result, that you forward-looking affect may statements discussion filings the future undue reliance to on and our

related bargain financial Management to obligating error quarter Finally, immaterial company the non-GAAP been of company's are in correct the EBITDA to operating performance assess not assess important determined adjusted measures is and to as loss believes revised compensation sheet as XXXX purchase management financial company's view EBITDA materiality net measures. Management of transparent gain, defines and depreciation packages. as and impact used amortization related performance. gain XX, measures expense, on has company the The which defines EBITDA wellness before press company balance net EBITDA statements EBITDA to condensed alone. expenses. loss stock-based error January expenses, error they and on Reconciliation trends more the The XX, EBITDA, net to tax and disposition impairment XXXX. light results in provide EBITDA or operating financial they or and by release. December net material. deferred income was revise publicly of statements the our underlying are of adjusted September GAAP forward-looking the than updates during because expenses. calculation we These future the not revenue release income of of are or identified information presented the the before Please Management are note adjusted or presented these or events. XXXX, in interest, an any ourselves XX, ended a acquisition to new uses

call pleasure X, to to it Turning to Peter Slide is over my turn Holt. the

Peter Holt

Thank you, to the everybody And I call. David. welcome

joint franchised we clinics and to corporate quarter, execute owned continue and or to setting. brand third long a retail the opening strategy our standing During build managed by

corporate Additionally, our greenfield clinics to franchise new portfolio. we looked opportunistically acquire clinics and that build complement creative

growth As advanced revenue our a result, momentum. we've

clinics benefit rationale. Patients services. with We summaries for welcome continue business the future. we'll longer style, the clinics Joint investments provide end on is received retail a convenient deal into well term to appointments. to convenient based in Located our from great of of pricing from and we and hours like the our by membership operation be Recently, without in The And interest them chiropractic need new access track position expansion of our concerto or XXXX settings, to investors. our of care. attractive insurance goal I'd revolutionizing XXXX.

to market. more largest nearly and $XX we X% care recognizable of for care, provider most Our yet growth of increase efficacy our build highly We're account country of awareness and strategies approximately chiropractic care in deliver the clinics. on the patient chiropractic open only exceptional this billion chiropractic brand, experience and of the already fragmented

we increasing significant our refine opportunity market itself. to As market further continue expand the as share and a we such, have

discuss XXXX, sales increasing wide results Later, XX%. Turning to review highlights to will system compared to grew In quarter few X, of results. QX Slide QX I'll financial a detail. in XXXX, our third $XX.X million our XXXX Jake

at XXXX. XX XX, million compared September Adjusted sales was clinics have And for XXXX, up months XX%. grew $X.X Revenue been our for cash to at open at to XX, least comp XX%. EBITDA Our full $XX.X XX%. million unrestricted increased to grew $XX.X December million,

X. Slide to Turning

portfolio. our review Let's

we one closed This during and same opened of XXXX. of clinics, QX to period XX our five a totaled compared to nine-month QX, the XX in expansion, opened, clinic and in XXXX. total opened up brings franchised XX XX clinics from XX Regarding greenfield

remains strategy unchanged. enhance expansion corporate clinics corporate locations, strategic or openings be creative. greenfield significantly building our increasing by clinics. franchise of a new where strategically up And we're clinics can we portfolio new clusters and clinic accelerating in markets by clinic our existing franchise Our open We're purchasing finally, there'll

compress Arizona. During QX, clinic region. Greenfields established our we the and That opened presence also in first important reach said, corporate remember to increases when they're open, in in Virginia, the California five to new it's greenfield extend our that that Southern footholds Virginia margins. southeast expected

that the top and to greater franchise for a bottom-lines XXX% economic of and they mature, therefore clinics financial when clinics company. As contribute corporate have compared benefit the

of less X% have continue We annually. closure clinic exceptionally to than rates low

quarter, This close September had XX, clinics operation, XXXX in again, consisting clinics on XX did we only have we compared to closure one XXX not summary clinics. and In clinics managed once XXX in owner franchise of XXXX. any QX company

four XXXX. opened total beginning in new to at grow to acquired mix North portfolio a to XX and figure the The a and performing as at reinforces we After X, franchise quarter November development. total territory our $XXX At had corporate bringing to corporate our The previously million October, Carolina, corporate immediately northern formidable for the of this of bringing XX% acquisition franchised decision franchise. in XX count also in to increased franchise the our On cluster region. to to an and XXX end, today. clinics regional at XX% system, strengths licenses the Our ability Greenfield the of interest continues we compares was we the quarter presence of the clinics in XX, remained Greenfield strong portfolio year. June end active Reflecting create southwest repurchase year. closed the in Arizona, to the in additional territory the our developer created

In franchise the X. XX we compared XX nine QX to sales XXXX, This period license in months to QX Turning same total licenses in in to XXX to sold compared our franchise XX brings XXXX. sales XXXX. Slide

the holds continues a franchisees. minority board total member follow operated concept keep which our joint separate in Corp. interest of well and franchise X% attract Our businesses which investment to less schedules, owns note such and clinics, than the clinic One of count. fee capitalized that Please is rules same completely from that independently and the owned sophisticated all finances their as three franchisees a group same

During accelerate to QX, sold of the XX% our growth. by continue were licenses developers franchise our who regional

XX, XXXX candidates clinics license or their of business XX RD existing franchisees. September our selected sold approval. important an compared validation rep for through areas, have diligence number high measurement year At health existing of in MSAs. XXXX This metropolitan criteria and to new thorough of As the to of process mix or noted be XX% been demonstrates model, franchisees and participate in an the with reinvest strength and to XX% concept our from healthy of franchise XX% previously, brand. meet must a a today, To our understand investing provides track franchise. covered source all the in our to sales of corporate and very the our to franchisees a by franchise the RD our licenses new supported interested over positive viability to territories franchisees of due to must the prior the franchise Each sales system, statistical

since established a is Our a opened, schedule clinics. this development our that XXXX provides mind still of Keep new growth. foundation sales and territories but XXX clinic clinic to RD feel portion continued aggregate XX-year expansion this in counts already minimum for large

we during marketing the campaign Turning efforts. to chiropractic our In season. school benefits to of launched X, educational kids for QX, care Slide review a let's new back promoting

marketing moving school our promotions million Friday to package promotion. heavily relied holiday our and direct campaigns pleased focus over to membership limited campaign. our impressions to media time social efforts on December our to care. with on In media aged PR on our a be year-end parents sit QX, our will sale, our their These children starting opportunity here chiropractic then XXX November patients with save reach and offer and We're from Black message. content that Our

growth to whom we us I'd Jason Jason to driver joined Officer. tenure. years of like four just Chief almost Greenwood his during promoted and Finally, been congratulate ago instrumental has Marketing

continue patient generate to leveraged talented and skills He's market this his performance. unleash position I enhance IT build new culture, talent, of branding, Jason's attract leads and our to our perspective. a the look efforts strategist. marketing a from particularly we marketing begin unique as successful new platform, build ongoing to programs to As forward key elevate and conversion. power increased contribution our

our Axis platform IT new X.X was Speaking Slide formally review improve to technology of in which, our of the X to our initiative launched innovation turn July. I'll infrastructure. to first

we accomplished Like which our without system was and we're to from this of and a of process homegrown improvements. a major implementation to goal disruptions. licensed successfully complexity bugs platform, migrate system Our addressing legacy scalable magnitude, currently any

forward our phases to for I new of roadmap. patients their will As and pause introducing look innovations we thank create value this their through enormous turn plan through for to over us to on our this that, platform And and I'll this want that and and our Jake, next increased franchisees you. process. with transition clinic We build it technology effort users the to for our help business.

Jake Singleton

XXXX. XXXX quarter pandemic, you, rebound the was third enabled of compared in by remember, the Peter. and QX the actions to QX of to Please second the swift impacted review Thank while XXXX. joint fourth I'll our quarters XXXX

performance result, that full-year our a any pleased momentum. XXXX growth year-to-date. strongest financial As continues our We're delivered XXXX for very

primarily the expenses and and of number third period, amortization of development. increase December in competitive expenses IT clinic with higher royalties in $XX.X million, marketing compared larger were clinics national franchised to XXXX and associated Selling Axis new were up higher increased million. under The Greenfield prior-year System XX%. all the our increased developer was up up primarily the over last for amortization expenses January intangibles clinics. revenues to QX XX% System $X.X the timing open depreciation compared website increase XX%. development to new sales XX%. platform franchise spend. was same Depreciation any system to platform. an increased The count $X million, XX% open Greenfield well clinics, costs compared were increase an IT last XX.X year. managed over company We've of or or in to fees of XX%. hosting were clinics tight G&A wide and acquisition operations managed and related $X.X contributing support XX the IT as due Revenue June the commissions, all contributing period owned in payroll sales $X.X $XX and Grand for and Greenfield reflecting reacquired increased as $XX.X for period labor months the to marketing the for million $X.X increased same open and million, pace XX% to clinics more rights fund Company remain the to the XXXX associated of million of wide XXXX openings. market, QX up the the related clinic since regional was reflects million, as or for mature wide XX%. opened due time expenses amortization and to of nine clinic months For opening for to expenses quarter our up the This anticipate XX% XXXX. professional comp growth. revenue $X.X XX sales more Franchised and year, comp million of more and XXXX or amount million. expenses Cost in continued Greenfield XXXX revenue

same compared Corporate million. our for Onto $X.X financial of $XX.X up expense compared including such, aforementioned to development primarily sheet of period EBITDA compares same increased million and continue Adjusted XX% the to rights, million percentage $X.X to adjusted for As in benefit or was adjusted income $X.X benefit $XX,XXX EBITDA adjusted or $X.X was $XX.X XX adjusted we nine XX the by ended was Slide last million. per XX% EBITDA diluted September a compared $X.X September of quarters. benefits XXXX. increasing XXXX. share tax flow $X.X XXXX, million, in as our share, cash year. million. exercise XXXX. review. next million, reacquired depreciation $X.X excess period from clinic $X.X was $X.X was million, tax the per in Operating from months over to the at up to to tax $XXX,XXX million up Income increase compared loss income review Franchise of increased G&A period increased unrestricted component at driven $XX.X to $X.X $X.X $X.X On million, million, balance in to operating QX and December June million, options. to XXXX. several The XXXX. to to compared EBITDA to development. revenue XX amortization and Company was $X.XX Revenue XXX% compared of stock XX% results $X.X was income million million expect owned Greenfield XX% to our Net At a million $XX.X clinic a $XX.X an XX the to compared acquisitions to net This QX XXXX, million million, million, XXXX expense $XX.X XX was diluted was or managed to XX% as compared the in the the million EBITDA was up cash XX% XX% income clinic or $X.XX of same income and XXXX. compared

raising During now primarily the million Greenfield to On activities a of Slide of of XXXX, investing full-year activities, we're activities, guidance strength of cash flow Paycheck included March our on fourth developments openings, months expenditures, for by QX. guidance Based for and Protection $XX EBITDA. XXX reflects these a increase million now and to review include compared XX% adjusted provided million million revenue to operating $XX franchise XXXX $XX by The which will million. reflects for The between that to expect XX% a reflects the our between our impact openings to nine opened We midpoint updated the be XXXX. million. the be of million cash EBITDA increase XX, IT net The XX% in the was loan be our compared XXXX. and by and and performance expectations well the clinic to please midpoint XXXX. again consisting in XXX. note adjusted of activities, $X first Once midpoint the Program repayment to expect expect increase We for quarter, XXXX. expected driven franchise XX% as financing as of capital $XX.X XXXX. $XX $XX.X of acquisitions, updated of offset a and used number of now the Greenfields between in revenue compared We increased updated in results be

to with turn combination both four we franchise and XX XX. over We greater clinic between I'll of continue to opened that, purchases than be or And to back a Peter. through X.X The the to you, midpoint managed openings expect in updated the XXXX. clinics, is company-owned times call Greenfield

Peter Holt

Thanks, Jake.

XX, corporate to Slide of is and of coordinators. community quality culture staff to our to and hard doctors committed our I'm of that truly so mission very Turning of worked foster franchisees, entire proud We've our wellness improving life.

more and States. retaining prioritize recruitment some initiatives to a we've and This experienced of continue regard, shortage United challenges staff for in And the others, employees. this important including We with is than doctors. implemented like given the labor retention. the in our macroeconomic increasing we've ever now number salary average But attracting

Exchange which is the And guidance our goal have these base expansion, a on meet to minimum of Service. The to we're example to existing as current X,XXX our clinic development. is of beyond as MSA is to opportunity our identified year-end sites. keyword Using the X,XXX Force well pace Army only expansion exceed and clinic on increased we've One minimum, this we & open remember significant projections. Regarding a year. higher of patient targeted data, our Air our clinic the stepping XXXX we've stone as target opening demographics already to XXXX just future new twice a clinics,

chiropractic to of base exchange on partnership our we serve quarter, bring last announced community. better to the care the military with Just members

Florida with the Our for element billion progress market capturing is reason. interest plan Today bases. included members pleased the we've in market. the is in approximately New initial our this The about on to clinics following $XX one opportunity three initial that and bases Force early just service Air exchange share additional and for optimistic Arizona, revenue started of additional so of plans have nearly we're share, expansion already Jersey. And annualized represents X% from

XX% share market X% First, accounting chiropractic fragmented professions. market, to a dentistry is the change with still more of to compared developed just in

clinic both the average outperforms research. the bottom and industry The on top the according solo Second, of Joint practitioner significantly average lines to

with Third, from technology we accelerating and systems continue what we population to increasingly of effective know the marketing, U.S. real as estate efforts our Joint's of efficacy new chiropractic sophisticated benefit leadership overall our is Fourth, validated quarter to national we in a itself franchisees who XX% educating care. operations, that only strong is, attract footprint. role knows chiropractic are the over are in of consumer chiropractic a These about market. The the growing new the patients of

further is traditional providers. the skews this by younger than base the patient all insurance amplified considerably fact our Finally, that based

fact, majority of Z derived into Gen is Millennial from wave patients. next of growth patient net consumers, In we vast chiropractic and the our the successfully tapped

our And ready national growth growth accelerate. drive to long-term well footprint our to Q&A. confidence the in expansion value. these as stakeholder our continue begin We're ability and Our as indicators fuel to trends

Operator

Thank Sinderen from question from the you. Instructions] And of Van [Operator line Riley. your B. Jeff comes first

open. is Your line

Jeff Van Sinderen

Hi, everyone.

bit components time you're touch platform. know of speak some that thing say on that mode one that results. on, software platform? of layer you're maybe sort steps, can next the on debugging capabilities guess if of you functionality about I the the kind maybe little to me terrific still new a the let planning of more mode First, in on see wanted debugging new I and would And frame you that or end I to

Peter Holt

a in which information amount to on patient which care, as a is understand is marketing utilize And data Absolutely. This is shift, portal, how the licensing foundation that not inspired to individual, have business that check-in, to data the this But of we But we're and is one to to right our is us talk a more of right Jeff, pleasure. means the of more trying him, lot them. that increased going is some our is now. the singular choices. have allows our the this move trying service, see get Everything to make to thanks to the can more of more question. that words. platform warehouse the the going with believe of this of are we of bugs the This consumer and habits, out. the future. medical secure the QX for by being be worked These that data kind consumer do initiatives. ultimately, because a every about the enormous it's that is that this really CRM. that we we're and heard for we're now, creation We chiropractic mobile we information how idea marketing and our creation just you've That where -- things is perspective right just us the drives that a Always collecting. technology to we the absolutely see our the truly use to from a lift the talking effective take an platform about we time. new We're creation patient's that homegrown from on patients, really extraordinary much technologies of value

stability focus platform, with the roadmap. on the this of continuing We technology out laying a new and are future

Jeff Van Sinderen

Okay, a your great. you follow changes and if marketing holiday holiday promotional you can did around what plans touch advertising in XXXX as And any then versus just I'm to XXXX? just up, curious

Peter Holt

a is promotions. patients these and finding two been have greater response we our to greater from what that think I

They They're has in know, each have promotions, themselves. our to program. and two that which we're lot As increased using have are team ensuring we have participation best our major performance. of of the don't the quarter drive fourth XXX% really promotions market a tools the his the These that across some network. you year. program Jason we taken practices

media dollars additional from to these support dedicated have two We a side initiatives.

what expectation going these did we're with a that promotions, compared an will consolidated see so to we year. we And in last performance of

Jeff Van Sinderen

Excellent. questions continued taking Thanks for success. my and

Peter Holt

you. Thank

Operator

And Capital. Street line question Brooks of comes your next Lake from O'Neil the from

is Your open. line now

Unidentified Analyst

is have you filling staffing One question in question. This nature? seeing are new I or chain issues guys. and any for is, Hi, issues, any with [ph] for anything thanks my that shortages, Charles Brooks, Spangler clinics, like supply or taking of opening

Peter Holt

Yes, relates relatively as to you know, as it out. supply the built are clinics simple chain,

So experienced anything side. we haven't as it relates to the supply

side, we target areas, demand. look still trafficked real the high As we very those at estate to leases target retail we in that are continue

through So we're working that.

So outside for remarks of labor as mentioned, everybody to our those tight things, Peter a out two there. market in

of dedicating we're So to and haven't retention of we resources recruitment the of and outside why too seen that, our that's But doctors. disruption. such much amount time

Unidentified Analyst

for to one what follow-up year And the expect you've expansion rest spoke responses have getting, about the and is you. plans we I regards and Thank of can bases, in expansion? you next the to promising been military year with

Jake Singleton

in Well, of to themselves military we've and putting this an more clinics base. announced the with efficacy on world, bases and be more force exchange around we every X,XXX clinic agreement personnel power originally of -- the But those both administration and bases. in seeing we're and the what chiropractic. would a signed one is on we not the that interests that we put have three army They air last quarter

utilizing a of there's demand the military. chiropractic by growing services So

mentioned, we're to three agreement that got number kind in that discussions, so going the as increase for that already the to bases we've forward. of to a bases I of And

we've given by one of open as will the of work but two bases a contracted least open. army would these accelerate an at haven't to open to and we final We or continue growth get amount, expect year-end we to that those three to probably have with already

Unidentified Analyst

congrats Thank you. on quarter. great And the

Jake Singleton

very you much. Thank

Operator

you. Thank

comes Your next the line of Ryan Craig-Hallum. from Kimbrel question from

Your line is now open.

Unidentified Analyst

customer The shifted the I less [indiscernible]. for pandemic. now more what great this extend in also during people discretionary terms I'm seen behavior? want thinking great I guys, ask that outlet in to pandemic. consumers Joint you you change have want has dollars my a or of clearly to all? And quarter. at any performance on the have beyond congratulations Hey are seen Have behavior But elsewhere been

Jake Singleton

great the question. thanks remarks. Ryan, for Yes, And

I attraction. consumer look some As great in strength as far We're as behavior, seeing at our our patient of KPIs. new

strongest it relates continue of strength seen or in have wellness We converting metrics, that the one as that, to of On those to patients. our them side. new top we're to subscription, the attracting we've on years seeing conversion package meaning we're

really those So two are indicators. strong

As we highest think positioned, well relates base. the at incredibly interest to from model, millennials, being the continue in be we and which our it attracting to I look interest space, patient in our as health wellness demographic is

know, seeing I don't Peter, we're add So if strength great you'd there. anything?

Peter Holt

in you terms exercise Ryan, posting to impact comps. having to growth. And And, know of XX% absolutely. No greatest look a cons. what at what listen, look at you're the I mean, be is that that

compare any a lot posting gosh, that customers. got to QX But, like, suggest retail to happy you've more concept I now, oh my XX% in consistently or XX% comps, that what's you mean, going Okay, and on. is feels XXXX of that in

base, in what us more And time. have is coming often. And existing as seeing the we so was Jake patient who's very for new our more using that saying, and patients door and open we're first more

Unidentified Analyst

on, just on commented can and Peter. if you Okay, then what I touch

maybe you're guys comp the tell up first QX. and how us year, you QX QX. to half could in fairly that be lapped Can XX% in if same XX% the you of You next tell here said the from the thinking And ahead? easily far

Peter Holt

comps. we Well, guide don't on

you. is we've have conversation been seen would number really we I What pandemic. exact the don't your having pick of up, by I give say to momentum we impacted So an were have kind really is that

world for first half that to the look went come COVID. QX, X%. have And it was it in quarter, negative our we were I comps was a pandemic, is one and we XX% comps we was If obviously, was that of XX% no the knew almost to up months XXXX XX%. you comps rest our the when in QX. by the of back and weeks Then kind of QX, that to expect XX% quarter per in QX, worst our of really XX% time the of saw when that him in two the at punctured think what's did what nadir that two Then really QX

going low Could quarter-after-quarter? QX a says But that the I was momentum to XXXX that probably of down see course high. comp say continuing is this still back. But little then think okay, XX% project driving XX% the that I you by Now comps we're I momentum bit organization. the last year. of growth that's And of settling forward the to impacted quarter. this that for to that's we're would level

Unidentified Analyst

right, you. again, thank Congrats All guys.

Peter Holt

a Thanks lot.

Operator

you. Thank

comes Bullock next Your from Maxim from Group. Matt question

now Your line open. is

Matthew Bullock

great Hi, thanks questions my and for the congrats taking on quarter.

happening X,XXX mentioned and ratio, comment you just you franchise you if maybe think then beyond? corporate XX% you or some reach the your clinics whether what if on now comment could mark I accelerate you once or that the as XX% as clinics. on then shift of could that to right clinics hoping you franchise openings are openings too And I rapidly. Greenfield maintain was you this mix not expect ideal just and these you see

Peter Holt

question. great a that's Matt, Yes,

You're to right. keep think be to the both we corporate And mix, accelerate our franchise But openings. overall I continue it's going think with are sides pace about had as hard those I it, you to openings. going of to

I another our set interest that for that model, I this relates I at to continued going am in franchise bar to how this that mix. sales the continue because set look look year has at and shift strength, record We to

short-term up tick. are them might see to day, end But be opening is accelerate, fast. just at of the As you a the going the franchisees we as

So we'd love momentum. to see that

continue we franchisees. haven't our we on to unit for forward As an is we What where see mix, of us ideal makes it develop the alongside economics, to provided to guidance. that that units these sense know based

to dual to going we're our model to to we'll So model. franchise our going the continue stay true portfolio. increase corporate continue We're where continue expand through to to

for strategies but the us. that goes future where So continued we'll are see in both

Matthew Bullock

thank into I'll back you. hop queue. Excellent,

Operator

[Operator go Presenters, at there ahead. you. Instructions] this Thank time. please no And are question

Peter Holt

to Select your XXX Growing we'll for ranking Holiday Virtual you, Davidson the Lee. us through number end Annual all last Valley and Beauty week D.A. Alpha Conference, Wellness as and present at three, be the and you the Thank Companies Conference. year, We're Fortune Tour, by time recognized Craig-Hallum Roth Deer today. Thank of honored Fastest the Bus

we doctor the clinic a doctors a ranks. out to built, level. and seven Joint patients me a is but a I me and I'm took given my to the It enables of stay work offered now he pun I'll has took chose same to successful the balance the I to wife interviewed And patients and alignment, best what move. I was build lead a me The my years was to Atlanta, and story our build adjusted. The home D.C. about my we by of want which I my for and me to to great found many life lot have that has my Joint opportunity that I've care do due comfortable in clinic the and hard decided time which a Chiropractor, didn't both they and intended. clinics and proud talked also sacrifices well love the vacation. great the practice Joint work make I support for years, of what our grateful been my provide at to and much Recently, being but of want you Thank myself business. a very I knocked at of to who Pennsylvania I'm work a to the my it relayed recently And the I Doctor family. a to how chiropractic said. Chiropractic and XX today, to for joined independent practice. share paraphrase opportunity doctors. Given dedicated my takes

Operator

concludes conference Ladies Corp call. The QX and gentlemen, that financial Joint XXXX results

now You participation. you may Thank your disconnect. for

The Joint Corp. (JYNT) 7 Nov 212021 Q3 Earnings call transcript