10-Q Filing

JOINT Corp CIK: 1612630 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001171843-17-003042`
Period End Date	20170331
Filing Date	20170512
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	jynt-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 92 Income Statement 46 Cash Flow Statement 68

Balance Sheet 92 line items

Line Item	Tag	Value	Unit	Period
Series A preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Series A preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.68M	USD	Point-in-time
Series A preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50,000.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$312.55K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$334.39K	USD	Point-in-time
Series A preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Series A preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Series A preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Series A preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.02M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.19M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$42.01K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$3.05K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Notes receivable - current portion	`NotesAndLoansReceivableNetCurrent`	$30.82K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Notes receivable - current portion	`NotesAndLoansReceivableNetCurrent`	$40.83K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Deferred franchise costs - current portion	`DeferredFranchiseCostsCurrent`	$686.87K	USD	Point-in-time
Deferred franchise costs - current portion	`DeferredFranchiseCostsCurrent`	$748.30K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.37M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.32M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$499.52K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.02M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$893.52K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.08M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$5.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.79M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.36M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.72M	USD	Point-in-time
Deferred franchise costs, net of current portion	`DeferredFranchiseCostsNoncurrent`	$738.26K	USD	Point-in-time
Deferred franchise costs, net of current portion	`DeferredFranchiseCostsNoncurrent`	$836.35K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.16M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.34M	USD	Point-in-time
Goodwill	`Goodwill`	$2.75M	USD	Point-in-time
Goodwill	`Goodwill`	$2.75M	USD	Point-in-time
Deposits and other assets	`DepositsAssetsNoncurrent`	$707.89K	USD	Point-in-time
Deposits and other assets	`DepositsAssetsNoncurrent`	$667.02K	USD	Point-in-time
Total assets	`Assets`	$17.05M	USD	Point-in-time
Total assets	`Assets`	$16.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.05M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$300.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$161.54K	USD	Point-in-time
Co-op funds liability	`CoOpFundsLiabilityCurrent`	$95.01K	USD	Point-in-time
Co-op funds liability	`CoOpFundsLiabilityCurrent`	$73.25K	USD	Point-in-time
Payroll liabilities	`EmployeeRelatedLiabilitiesCurrent`	$750.42K	USD	Point-in-time
Payroll liabilities	`EmployeeRelatedLiabilitiesCurrent`	$397.10K	USD	Point-in-time
Notes payable - current portion	`NotesPayableCurrent`	$331.50K	USD	Point-in-time
Notes payable - current portion	`NotesPayableCurrent`	$168.00K	USD	Point-in-time
Deferred rent - current portion	`DeferredRentCreditCurrent`	$215.45K	USD	Point-in-time
Deferred rent - current portion	`DeferredRentCreditCurrent`	$148.56K	USD	Point-in-time
Deferred revenue - current portion	`DeferredRevenueCurrent`	$3.08M	USD	Point-in-time
Deferred revenue - current portion	`DeferredRevenueCurrent`	$2.87M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$54.48K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$60.89K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.98M	USD	Point-in-time
Revolving credit - notes payable	`LongTermNotesPayable`	$1.00M	USD	Point-in-time
Revolving credit - notes payable	`LongTermNotesPayable`	-	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$907.72K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$1.40M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$2.70M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$2.23M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$156.92K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$120.70K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$512.36K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.13M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A preferred stock, $0.001 par value; 50,000 shares authorized, 0 issued and outstanding, as of March 31, 2017, and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Series A preferred stock, $0.001 par value; 50,000 shares authorized, 0 issued and outstanding, as of March 31, 2017, and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 20,000,000 shares authorized, 13,371,535 shares issued and 13,075,031 shares outstanding as of March 31, 2017 and 13,317,393 shares issued and 13,020,889 outstanding as of December 31, 2016	`CommonStockValue`	$13.37K	USD	Point-in-time
Common stock, $0.001 par value; 20,000,000 shares authorized, 13,371,535 shares issued and 13,075,031 shares outstanding as of March 31, 2017 and 13,317,393 shares issued and 13,020,889 outstanding as of December 31, 2016	`CommonStockValue`	$13.32K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$36.61M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$36.40M	USD	Point-in-time
Treasury stock 296,504 shares as of March 31, 2017 and December 31, 2016	`TreasuryStockValue`	$503.12K	USD	Point-in-time
Treasury stock 296,504 shares as of March 31, 2017 and December 31, 2016	`TreasuryStockValue`	$503.12K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-30.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.98M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.93M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.49M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$16.47M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$17.05M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Revenues and management fees from company clinics	`OtherSalesRevenueNet`	$2.52M	USD	1 Quarter
Revenues and management fees from company clinics	`OtherSalesRevenueNet`	$1.66M	USD	1 Quarter
Royalty fees	`RoyaltyRevenue`	$1.37M	USD	1 Quarter
Royalty fees	`RoyaltyRevenue`	$1.71M	USD	1 Quarter
Franchise fees	`FranchiseRevenue`	$514.80K	USD	1 Quarter
Franchise fees	`FranchiseRevenue`	$449.50K	USD	1 Quarter
Advertising fund revenue	`AdvertisingRevenue`	$265.72K	USD	1 Quarter
Advertising fund revenue	`AdvertisingRevenue`	$598.44K	USD	1 Quarter
IT related income and software fees	`TechnologyServicesRevenue`	$267.01K	USD	1 Quarter
IT related income and software fees	`TechnologyServicesRevenue`	$221.13K	USD	1 Quarter
Regional developer fees	`RegionalDeveloperFeesRevenue`	$147.54K	USD	1 Quarter
Regional developer fees	`RegionalDeveloperFeesRevenue`	$76.90K	USD	1 Quarter
Other revenues	`OtherIncome`	$88.46K	USD	1 Quarter
Other revenues	`OtherIncome`	$60.34K	USD	1 Quarter
Total revenues	`Revenues`	$4.27M	USD	1 Quarter
Total revenues	`Revenues`	$5.67M	USD	1 Quarter
Franchise cost of revenues	`FranchiseCosts`	$694.74K	USD	1 Quarter
Franchise cost of revenues	`FranchiseCosts`	$683.24K	USD	1 Quarter
IT cost of revenues	`TechnologyServicesCosts`	$58.86K	USD	1 Quarter
IT cost of revenues	`TechnologyServicesCosts`	$45.23K	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$742.10K	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$739.96K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$958.71K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$738.68K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$577.99K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$575.54K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$4.56M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$5.69M	USD	1 Quarter
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.01M	USD	1 Quarter
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.10M	USD	1 Quarter
Loss on disposition or impairment	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$-417.97K	USD	1 Quarter
Loss on disposition or impairment	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	-	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.48M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.59M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$473.00	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-19.46K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.48M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.61M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$40.61K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$44.40K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-3.53M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-1.65M	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	1 Quarter
Basic and diluted weighted average shares (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.57M	shares	1 Quarter
Basic and diluted weighted average shares (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.04M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.65M	USD	1 Quarter
Net franchise fees recognized upon termination of franchise agreements	`NetFranchiseFeesRecognizedUponTerminationOfFranchiseAgreements`	$41.10K	USD	1 Quarter
Net franchise fees recognized upon termination of franchise agreements	`NetFranchiseFeesRecognizedUponTerminationOfFranchiseAgreements`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$577.99K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$575.54K	USD	1 Quarter
Loss on disposition or impairment	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$-417.97K	USD	1 Quarter
Loss on disposition or impairment	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$36.22K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	$197.67K	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	$95.06K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$71.98K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$-21.84K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$902.19K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$214.86K	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-38.96K	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-32.02K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$79.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$394.00K	USD	1 Quarter
Deferred franchise costs	`IncreaseDecreaseInDeferredFranchiseCosts`	$-121.60K	USD	1 Quarter
Deferred franchise costs	`IncreaseDecreaseInDeferredFranchiseCosts`	$-159.52K	USD	1 Quarter
Deposits and other assets	`IncreaseDecreaseInDepositOtherAssets`	$3.34K	USD	1 Quarter
Deposits and other assets	`IncreaseDecreaseInDepositOtherAssets`	$-40.87K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$34.23K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.23M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-234.29K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-138.46K	USD	1 Quarter
Co-op funds liability	`IncreaseDecreaseInCoOpFundsLiability`	$21.76K	USD	1 Quarter
Co-op funds liability	`IncreaseDecreaseInCoOpFundsLiability`	$-96.55K	USD	1 Quarter
Payroll liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-829.93K	USD	1 Quarter
Payroll liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-353.33K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$102.46K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$9.79K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$628.18K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-309.37K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$253.47K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-311.87K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.76M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.26M	USD	1 Quarter
Reacquisition and termination of regional developer rights	`ReacquisitionAndTerminationOfRegionalDeveloperRights`	$275.00K	USD	1 Quarter
Reacquisition and termination of regional developer rights	`ReacquisitionAndTerminationOfRegionalDeveloperRights`	-	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$287.94K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$39.33K	USD	1 Quarter
Payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$10.01K	USD	1 Quarter
Payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$17.26K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-545.68K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-29.32K	USD	1 Quarter
Borrowings on revolving credit note payable	`ProceedsFromLinesOfCredit`	$1.00M	USD	1 Quarter
Borrowings on revolving credit note payable	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Issuance of common stock, offering costs adjustment	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Issuance of common stock, offering costs adjustment	`PaymentsOfStockIssuanceCosts`	$1.04K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.60K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$116.28K	USD	1 Quarter
Repayments on notes payable	`RepaymentsOfNotesPayable`	$163.50K	USD	1 Quarter
Repayments on notes payable	`RepaymentsOfNotesPayable`	$120.50K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$952.78K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-119.94K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-333.26K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.43M	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.79M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.37M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.68M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.79M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.37M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.68M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.