The Joint Corp. (NASDAQ:JYNT) Q3 2019 Earnings Conference Call - Final Transcript

Nov 07, 2019 • 05:00 pm ET


The Joint Corp. (NASDAQ:JYNT) Q3 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen thank you for standing by and welcome to The Joint Third Quarter 2019 Financial Results Conference Call. [Operator Instructions]

I would now like to hand the conference over to your speaker today Mary Magnani with LHA Investor Relations. Thank you and please go ahead ma'am.

Mary Magnani

Thank you, Good afternoon and welcome to The Joint Corp.'s Third Quarter 2019 Results Conference Call. Today President and CEO Peter Holt will review our operating metrics and our growth strategy; CFO Jake Singleton will discuss our financial performance; and then Peter will close with our long-term vision and open the call for questions. Please note we're using a slide presentation that can be found in the events section of the company's Investor Relations website. Today after the close of the market The Joint issued its financial results for the quarter ended September 30 2019. If you do not already have a copy of this press release it can be found on the Investor Relations section of the company's website. As provided on slide two please be advised today's discussion includes forward-looking statements including statements concerning our strategy future operations future financial position and plans and objectives of management. Throughout today's discussion we'll present some important factors relating to our business that could affect these forward-looking statements.

The forward-looking statements are made based on our current predictions expectations estimates and assumptions and are also subject to risks and uncertainties that may cause actual results to differ materially from the statements we make today. As a result we caution you against placing undue reliance on these forward-looking statements and encourage you to review our filings with the SEC for a discussion of these factors and other risks that may affect our future results or the market price of our stock. Finally we're not obligating ourself to revise our results publicly and release any updates to these forward-looking statements in light of new information or future events. The company intends to file the SEC Form 10-Q for the quarter ended at September 30 2019 on November 8. Management uses EBITDA and adjusted EBITDA which are non-GAAP financial measures. These are presented because they're important measures used by management to assess financial performance. Management believes they provide a more transparent view of the company's underlying operating performance and operating trends. Reconciliation of net income or loss to EBITDA and adjusted EBITDA is presented in the press release. The company defines adjusted EBITDA as EBITDA before acquisition-related expenses bargain purchase gain loss on disposition or impairment and stock-based compensation expenses. The company defines EBITDA as net income or loss before net interest tax expense depreciation and amortization expenses.

It's now my pleasure to turn the call over to Peter Holt. Go ahead Peter.

Peter Holt

Thank you Mary and thank you all for joining us, Turning to Slide three I'm pleased to report our team's efforts in executing key growth and productivity initiatives over the past three years continuing to accelerate our business momentum. For example our 2016 system-wide