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SCOTTSDALE, Ariz. - The Joint Corp. (NASDAQ: JYNT), a prominent national chiropractic care provider, has announced the election of Christopher M. Grandpre to its board of directors. The appointment is part of The Joint’s strategy for sustained growth in key performance areas, including new clinic openings, system-wide sales, and earnings before interest, taxes, depreciation, and amortization (Adjusted EBITDA). According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet, while analysts expect net income growth this year despite recent challenges.
Grandpre, who currently serves as Chairman of Empower Brands, brings over three decades of experience in leading multi-brand franchise companies and mergers and acquisitions (M&A) investment banking. His background includes founding Outdoor Living Brands and serving in executive roles at National Restorations, Matrix Capital Markets Group, and BB&T Capital Markets.
The company’s Lead Director, Matthew E. Rubel, expressed confidence in Grandpre’s abilities, citing his extensive experience in entrepreneurship and franchising. Grandpre himself is enthusiastic about contributing to The Joint’s future success and assisting franchisees in reaching their objectives.
The Joint expressed gratitude to Glenn Krevlin for his six years of service on the board. Krevlin did not seek re-election, and Grandpre has filled the resulting vacancy, keeping the board at seven members.
The Joint Corp. has revolutionized the chiropractic industry with its retail healthcare business model since 2010, growing to over 950 locations nationwide. The company is recognized for making chiropractic care more accessible and affordable, with over 14 million patient visits annually. The Joint has received accolades from various publications, including Franchise Times and Entrepreneur, recognizing its growth and franchise success. With a robust gross profit margin of nearly 78% and a current market capitalization of $153 million, the company shows strong operational efficiency despite trading near its 52-week low of $9.58.
This strategic board appointment is seen as a step towards further strengthening The Joint Corp.’s position in the wellness franchise sector. The information is based on a press release statement from The Joint Corp. For deeper insights into The Joint Corp.’s financial health, valuation metrics, and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers exclusive access to over 10 additional ProTips and detailed financial metrics in its Pro Research Report.
In other recent news, The Joint Corp. announced its Q1 2025 earnings, highlighting a notable earnings per share (EPS) of $0.05, which exceeded the forecasted $0.01. However, the company reported a significant revenue shortfall, bringing in $13.1 million against an expected $27.5 million. The Joint Corp. is actively working towards becoming a pure play franchisor by the end of 2025, having opened five new franchise clinics during the quarter. Currently, 87% of its 969 clinics are franchise-operated. The company also introduced a new mobile app and revenue management strategies to enhance its operations. Additionally, The Joint Corp. is focusing on refranchising efforts, with 93% of its corporate clinics under letters of intent for refranchising. Analysts from firms like B. Riley Securities and ROTH Capital Partners have engaged with the company regarding its refranchising process and pricing strategies, noting potential impacts on profitability. The Joint Corp. projects system-wide sales between $550 million and $570 million for 2025, with plans to open 30 to 40 new franchise clinics.
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