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STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\nFORM 10-Q\n\n(Mark One)\n\n☒\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\n\nEXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026 \n\nOR\n\n☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\n\nFor the transition period from __________________ to _________________\n\nCommission file number: 001-36724\n\nThe Joint Corp.\n\n(Exact name of registrant as specified in its charter)\n\nDelaware\n\n(State or other jurisdiction of incorporation or\n\norganization)\n\n90-0544160\n\n(IRS Employer Identification No.)\n\n16767 N. Perimeter Drive, Suite 110, Scottsdale\n\nArizona\n\n(Address of principal executive offices)\n\n85260\n\n(Zip Code)\n\n(480) 245-5960\n\n(Registrant’s telephone number, including area code)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each class\n\nTrading Symbol(s)\n\nName of each exchange on which registered\n\nCommon Stock, $0.001 Par Value Per Share\n\nJYNT\n\nThe Nasdaq Capital Market LLC\n\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  x    No  ¨\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:\n\nLarge accelerated filer☐Accelerated filer\n☐\n\nNon-accelerated filer☑Smaller reporting company☑\n\nEmerging growth company\n☐\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes ☐    No ☑\n\nAs of May 4, 2026, the registrant had 14,255,396 shares of Common Stock ($0.001 par value) outstanding.\n\n[Table of Contents](#i328daa88e2f94f18bd2b149ab534d2e3_10)\n\nTHE JOINT CORP.\n\nFORM 10-Q\n\nTABLE OF CONTENTS\n\nPAGE\nNO.\n\n[PART I FINANCIAL INFORMATION](#i328daa88e2f94f18bd2b149ab534d2e3_16)\n\n[Item 1.](#i328daa88e2f94f18bd2b149ab534d2e3_19)\n\n[Financial Statements:](#i328daa88e2f94f18bd2b149ab534d2e3_19)\n\n[Condensed Consolidated Balance Sheets as of](#i328daa88e2f94f18bd2b149ab534d2e3_22)March 31, 2026[(unaudited) and](#i328daa88e2f94f18bd2b149ab534d2e3_22)December 31, 2025\n\n[1](#i328daa88e2f94f18bd2b149ab534d2e3_22)\n\n[Condensed Consolidated Income Statements for the](#i328daa88e2f94f18bd2b149ab534d2e3_25)Three[Months Ended](#i328daa88e2f94f18bd2b149ab534d2e3_25)March 31, 2026[and](#i328daa88e2f94f18bd2b149ab534d2e3_25)2025[(unaudited)](#i328daa88e2f94f18bd2b149ab534d2e3_25)\n\n[3](#i328daa88e2f94f18bd2b149ab534d2e3_25)\n\n[Condensed Consolidated Statements of Changes in Stockholders’ Equity for the](#i328daa88e2f94f18bd2b149ab534d2e3_28)Three Months Ended March 31, 2026[and](#i328daa88e2f94f18bd2b149ab534d2e3_28)2025[(unaudited)](#i328daa88e2f94f18bd2b149ab534d2e3_28)\n\n[4](#i328daa88e2f94f18bd2b149ab534d2e3_28)\n\n[Condensed Consolidated Statements of Cash Flows for the](#i328daa88e2f94f18bd2b149ab534d2e3_31)Three Months EndedMarch 31, 2026[and](#i328daa88e2f94f18bd2b149ab534d2e3_31)2025[(unaudited)](#i328daa88e2f94f18bd2b149ab534d2e3_31)\n\n[5](#i328daa88e2f94f18bd2b149ab534d2e3_31)\n\n[Notes to Unaudited Condensed Consolidated Financial Statements](#i328daa88e2f94f18bd2b149ab534d2e3_37)\n\n[7](#i328daa88e2f94f18bd2b149ab534d2e3_37)\n\n[Item 2.](#i328daa88e2f94f18bd2b149ab534d2e3_82)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i328daa88e2f94f18bd2b149ab534d2e3_82)\n\n[28](#i328daa88e2f94f18bd2b149ab534d2e3_82)\n\n[Item 3.](#i328daa88e2f94f18bd2b149ab534d2e3_82)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#i328daa88e2f94f18bd2b149ab534d2e3_118)\n\n[35](#i328daa88e2f94f18bd2b149ab534d2e3_118)\n\n[Item 4.](#i328daa88e2f94f18bd2b149ab534d2e3_121)\n\n[Controls and Procedures](#i328daa88e2f94f18bd2b149ab534d2e3_121)\n\n[35](#i328daa88e2f94f18bd2b149ab534d2e3_121)\n\n[PART II OTHER INFORMATION](#i328daa88e2f94f18bd2b149ab534d2e3_124)\n\n[Item 1.](#i328daa88e2f94f18bd2b149ab534d2e3_127)\n\n[Legal Proceedings](#i328daa88e2f94f18bd2b149ab534d2e3_127)\n\n[36](#i328daa88e2f94f18bd2b149ab534d2e3_127)\n\n[Item 1A.](#i328daa88e2f94f18bd2b149ab534d2e3_130)\n\n[Risk Factors](#i328daa88e2f94f18bd2b149ab534d2e3_130)\n\n[36](#i328daa88e2f94f18bd2b149ab534d2e3_130)\n\n[Item 2.](#i328daa88e2f94f18bd2b149ab534d2e3_133)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#i328daa88e2f94f18bd2b149ab534d2e3_133)\n\n[36](#i328daa88e2f94f18bd2b149ab534d2e3_133)\n\n[Item 5.](#i328daa88e2f94f18bd2b149ab534d2e3_136)\n\n[Other Information](#i328daa88e2f94f18bd2b149ab534d2e3_136)\n\n[36](#i328daa88e2f94f18bd2b149ab534d2e3_136)\n\n[Item 6.](#i328daa88e2f94f18bd2b149ab534d2e3_139)\n\n[Exhibits](#i328daa88e2f94f18bd2b149ab534d2e3_139)\n\n[37](#i328daa88e2f94f18bd2b149ab534d2e3_139)\n\n[SIGNATURES](#i328daa88e2f94f18bd2b149ab534d2e3_145)\n\n[38](#i328daa88e2f94f18bd2b149ab534d2e3_145)\n\n[Table of Contents](#i328daa88e2f94f18bd2b149ab534d2e3_10)\n\nForward-Looking Statements\n\nThis Quarterly Report on Form 10-Q, especially in the Management’s Discussion and Analysis, contains forward-looking statements and information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the \"Exchange Act\"), which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical facts, included or incorporated in this Quarterly Report on Form 10-Q could be deemed forward-looking statements, particularly statements about our plans, strategies and prospects under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “intend,” “seek,” “strive,” or the negative of these terms, “mission,” “goal,” “objective,” or “strategy,” or other comparable terminology. All forward-looking statements in this Quarterly Report on Form 10-Q are made based on our current expectations, forecasts, estimates and assumptions and involve risks, uncertainties and other factors that could cause results or events to differ materially from those expressed in the forward-looking statements. In evaluating these statements, you should specifically consider various factors, uncertainties and risks that could affect our future results or operations as described from time to time in our Securities and Exchange Commission (“SEC”) reports, including those risks outlined under “Risk Factors” which are contained in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 13, 2026, and in Part II, Item 1A of this or any subsequent quarterly reports on Form 10-Q. These factors, uncertainties and risks may cause our actual results to differ materially from any forward-looking statement set forth in this Quarterly Report on Form 10-Q. You should carefully consider the trends, risks and uncertainties described below and other information contained in the reports we file with or furnish to the SEC before making any investment decision with respect to our securities. We undertake no obligation to update or revise publicly any forward-looking statements, other than in accordance with legal and regulatory obligations. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement.\n\nThe specific forward-looking statements in this Quarterly Report on Form 10-Q include the following:\n\n•the expected adoption and impact of recent accounting pronouncements;\n\n•the outcome and impact on our company of any litigation in which we are involved;\n\n•our plan to continue our franchised-focused expansion of chiropractic clinics in key markets throughout North America, and potentially abroad, as we seek to be the leading provider of chiropractic care in the markets we serve and to become the most recognized brand in our industry;\n\n•our belief that our monthly performance reports from our system and our clinics include key performance indicators per clinic, including gross sales, comparable same-store sales growth, or “Comp Sales,” number of new patients, conversion percentage and membership attrition;\n\n•our plan to refranchise or sell the full portfolio of our company-owned or managed clinics, which refined strategy will leverage our greatest strength - our capacity to build a franchise - to drive long-term growth for both our franchisees and The Joint as a public company;\n\n•our plan to continue to leverage the power of the regional developer program to accelerate the number of clinics sold, and eventually opened, across the country;\n\n•our belief that we continue to have a sound business concept and will benefit from the fundamental changes taking place in the manner in which Americans access chiropractic care and their growing interest in seeking effective, affordable natural solutions for general wellness;\n\n•our belief that these trends join with the preference we have seen among chiropractic doctors to reject the insurance-based model resulting in a combination that benefits the consumer and the service provider alike, and our belief that these forces create an important opportunity to accelerate the growth of our network;\n\n•our belief that recent events that may impact our business include unfavorable global economic or political conditions, continued labor shortages, and inflation and other cost increases;\n\n•our anticipation that 2026 will continue to be a volatile macroeconomic environment;\n\n[Table of Contents](#i328daa88e2f94f18bd2b149ab534d2e3_10)\n\n•our belief that we have created a robust framework for the refranchising effort, organizing clinics into clusters, and generating comprehensive disclosure packets for marketing efficiency, and that we have received significant interest to date from our existing franchisees;\n\n•our goal to generate significant processes that will provide us with value creating capital allocation opportunities, which opportunities could include, but are not limited to, reinvestment in the brand and related marketing, continued investment in our IT platforms, the repurchase of regional development territories, certain merger or acquisition opportunities and/or additional stock repurchase programs;\n\n•our belief that our operating results may fluctuate significantly as a result of a variety of factors, including the timing of new clinic sales, openings, closures, markets in which they are contained and related expenses, general economic conditions, cost inflation, labor shortages, consumer confidence in the economy, consumer preferences, competitive factors, and disease epidemics and other health-related concerns;\n\n•our belief that our existing cash and cash equivalents, our anticipated cash flows from operations and amounts available under our line of credit will be sufficient to fund our anticipated operating and investment needs for at least the next 12 months;\n\n•our belief that we have adequate capital resources and sufficient access to external financing sources to satisfy our current and reasonably anticipated requirements for funds to conduct our operations and meet other needs in the ordinary course of our business; and\n\n•our expectation that for the remainder of 2026, we expect to use or redeploy our cash resources to support our business within the context of prevailing market conditions, which, given the ongoing uncertainties described above, could rapidly and materially deteriorate or otherwise change.\n\nFactors that could contribute to these differences include, but are not limited to, our inability to identify and recruit enough qualified chiropractors and other personnel to staff our clinics, due in part to the nationwide labor shortage and an increase in operating expenses due to measures we may need to take to address such shortage; inflation, leading to increased labor costs and interest rates, as well as changes to import tariffs and increased gas prices, may lead to reduced discretionary spending, all of which may negatively impact our business; our failure to profitably operate company-owned or managed clinics; our failure to refranchise as planned; short-selling strategies and negative opinions posted on the internet, which could drive down the market price of our common stock and result in class action lawsuits; our failure to remediate future material weaknesses in our internal control over financial reporting, which could negatively impact our ability to accurately report our financial results, prevent fraud, or maintain investor confidence; and other factors described in our filings with the SEC, including in the section entitled “Risk Factors” in this Quarterly Report on Form 10-Q and subsequent filings with the SEC.\n\nAdditionally, there may be other risks that are otherwise described from time to time in the reports that we file with the SEC. Any forward-looking statements in this Quarterly Report on Form 10-Q should be considered in light of various important factors, including the risks and uncertainties listed above, as well as others.\n\n[Table of Contents](#i328daa88e2f94f18bd2b149ab534d2e3_10)\n\nPART I: FINANCIAL INFORMATION"}