Expected to begin in August 2025, the program will allow the company to repurchase up to $5 million of its outstanding common stock, noted a company press release.
“The stock buyback reflects the board’s confidence in our long-term strategy, refranchising program and our projected cash flow generation,” said Sanjiv Razdan, CEO, president and director of The Joint Corp. “We believe our franchise model and long-term valuation are not yet fully recognized in our current stock price. This stock repurchase program underscores our commitment to disciplined capital allocation and delivering value to our stockholders.”
Repurchases may be made from time to time in open market transactions, privately negotiated transactions or by other means, in accordance with applicable securities laws and subject to market conditions and other factors. The timing, number and amount of any repurchases will be determined by the company’s finance committee of the board of directors at its discretion. The stock repurchase program does not obligate the company to acquire any particular amount of common stock, has a termination date of June 3, 2027, and may be suspended or discontinued at any time.
About The Joint Corp.
The Joint Corp. (NASDAQ: JYNT) revolutionized access to chiropractic care when it introduced its retail healthcare business model in 2010. Today, it is the nation’s largest operator, manager and franchisor of chiropractic clinics through The Joint Chiropractic network. The company is making quality care convenient and affordable, while eliminating the need for insurance, for millions of patients seeking pain relief and ongoing wellness. Headquartered in Scottsdale, with over 950 locations nationwide and more than 14 million patient visits annually, The Joint Chiropractic is a key leader in the chiropractic industry. The brand is consistently named to Franchise Times’ annual “Top 400” and “Fast & Serious” list of 40 smartest growing brands. Entrepreneur named The Joint “No. 1 in Chiropractic Services,” and is regularly ranked on the publication’s “Franchise 500,” the “Fastest-Growing Franchises,” the “Best of the Best” lists, as well as its “Top Franchise for Veterans” and “Top Brands for Multi-Unit Owners.” SUCCESS named the company as one of the “Top 50 Franchises” in 2024. The Joint Chiropractic is an innovative force, where healthcare meets retail. For more information, visit thejoint.com. To learn about franchise opportunities, visit thejointfranchise.com.
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