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Thursday, January 9, 2020

The Joint updates 2019 metrics and clinic guidance for 2020

The Joint (NASDAQ:JYNTprovides metrics for FY 2019 and established new clinic guidance for 2020.
FY 2019 Highlights: Increased system-wide sales 33% in 2019 from 2018.
Achieved comp sales of 25%, consistent with 2018 growth.
Sold 126 franchise licenses, compared to 99 in 2018.
Grew total clinics to 513 at December 31, 2019.
2020 New Clinic Guidance: The company expects to open 80 to 90 franchised clinics, up from 71 in 2019 and 47 in 2018.
Increase company-owned or managed portfolio clinics by 16 to 20 through new greenfield clinics and franchised clinic buybacks, up from 13 in 2019 and 1 in 2018.

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