The Joint Corp names Scott Bowman as new CFO

SCOTTSDALE, Ariz. - The Joint Corp. (NASDAQ:JYNT), a nationwide chiropractic care provider with a market capitalization of $192.2 million, announced today that Scott J. Bowman has been appointed as Chief Financial Officer, replacing Jake Singleton effective immediately. The company’s stock has shown strong momentum, gaining over 15% in the past week. According to InvestingPro analysis, the stock is currently trading near its Fair Value, with analyst price targets ranging from $10.50 to $20.00.

Bowman brings over 30 years of financial experience, having previously served as CFO at three public companies: Leslie’s Inc., Dave & Buster’s, and Hibbett Sports, as well as at the private restaurant company True Food Kitchen.

"Scott brings deep expertise in capital markets, strategic planning, operations, and investor relations," said Sanjiv Razdan, CEO, President and Director of The Joint Corp. "His leadership experience includes both transformation and growth-stage environments."

The company acknowledged Singleton’s ten-year tenure, during which he guided the company’s financial strategy through key periods.

Bowman holds a B.S. in Accounting and Finance from Miami University (Ohio), an MBA from Emory Goizueta Business School, and a CPA designation. His previous experience includes roles at The Home Depot, Newell Rubbermaid divisions, and The Sherwin-Williams Company.

The Joint Corp. operates over 950 chiropractic clinics across the United States with more than 14 million annual patient visits. According to the press release, the company is executing a strategy to transition to a pure play franchisor while focusing on growth, overhead reduction, and improved profitability.

The company functions as both a franchisor and operator of clinics in certain states, while providing management services to affiliated professional chiropractic practices in others. With annual revenue of $52.79 million and a robust gross profit margin of 77.7%, the company maintains a healthy current ratio of 1.59 and holds more cash than debt on its balance sheet, positioning it well for its strategic transition.

In other recent news, The Joint Corp. reported its Q1 2025 earnings, showcasing a significant earnings per share (EPS) beat with actual EPS at $0.05, surpassing the expected $0.01. However, the company faced a revenue shortfall, reporting $13.1 million against an anticipated $27.5 million. Despite the mixed financial results, The Joint Corp. continues to focus on its strategy of becoming a pure play franchisor by the end of 2025. The company also announced a stock repurchase program, authorizing the buyback of up to $5 million of its outstanding common stock starting in August 2025, indicating confidence in its long-term strategy.

Additionally, The Joint Corp. has expanded its board of directors with the appointment of Sandi Karrmann, bringing extensive human resources experience to support strategic initiatives. Another board appointment includes Christopher M. Grandpre, aimed at driving growth in key performance areas such as new clinic openings and system-wide sales. These appointments are part of the company’s broader strategy to strengthen its market position and support franchisees in achieving their objectives. As The Joint Corp. navigates these developments, it remains committed to enhancing shareholder value and maintaining its leadership in the chiropractic industry.

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