The Joint Corp. announced its financial results for the fourth quarter and full year ended December 31, 2024. Q4 revenue from continuing operations increased 14% to $14.4 million compared to Q4 2023, and the company reported net income from continuing operations of $986,000, or $0.06 per diluted share, a significant improvement from a net loss of $10.2 million in the prior year period.
For the full year 2024, revenue reached $51.9 million, up 10% from 2023, and net loss from continuing operations improved to $1.5 million, or $0.10 per basic share, compared to $10.8 million in 2023. System-wide sales grew 9% to $530.3 million, with 14.7 million patient visits and 957,000 new patients treated during the year.
The company provided 2025 guidance, projecting system-wide sales between $550 million and $570 million, and system-wide comparable sales in the mid-single digits. Consolidated Adjusted EBITDA is expected to be between $10.0 million and $11.5 million, a slight decrease from $11.4 million in 2024, reflecting 2025 as a 'year of transition.'
The Joint Corp. is focused on becoming a pure-play franchisor, with the majority of its corporate clinic portfolio in the final stages of Letters of Intent negotiations for refranchising. This strategic pivot aims to enhance profitability, increase operating leverage, and reduce corporate costs.
New franchised clinic openings are projected to be between 30 and 40 in 2025, down from 57 in 2024, as the company prioritizes its refranchising efforts. Management anticipates improved profitability and growth in net new clinic openings, system-wide sales, comparable sales, and Adjusted EBITDA in 2026.
Strategic initiatives for 2025 include dynamic revenue management, enhanced digital marketing, and upgrades to patient-facing technology to drive revenue growth. The company also plans to build infrastructure and test elements to capture new markets and revenue channels.
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