Joint Corp. lowers Q2 revenue view to $115M-$118M from $123M and $128M

For 2023, management is providing preliminary amended financial guidance to reflect the preliminary second quarter financial results, new accounting procedures, current economic environment, and other factors. The company reiterated the clinic opening guidance. Revenue is now expected to be between $115M and $118M, compared to $101.9 M in 2022. Previous revenue guidance was between $123M and $128M. Adjusted EBITDA is now expected to be between $11M and $12.5M, compared to $11.5M in 2022. Previous adjusted EBITDA guidance was between $12.5M and $14M. Franchised clinic openings are expected to be between 100 and 120, compared to 121 in 2022. Company-owned or managed greenfield clinic openings are expected to be between 8 and 12, compared to 16 in 2022. Consensus for FY23 revenue is $123.94M.