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Dutch Bros Inc

For the period ended Mar 31, 2024. Filed May 8, 2024.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 8, 2024

BROS$36.01+6.6%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period ended March 31, 2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________ to ________

Commission file number 001-40798

(Exact name of Registrant as specified in its charter)

Delaware87-1041305
(State or other jurisdiction ofincorporation or organization)(I.R.S. Employer Identification No.)
110 SW 4th Street
Grants Pass,Oregon97526
(Address of Principal Executive Offices)(Zip Code)

(541)955-4700

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading SymbolName of Exchange on which Registered
Class A Common Stock, par value $0.00001 per shareBROSThe New York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past 90 days. Yes x Noo

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x Noo

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filerxAccelerated filero
Non-accelerated fileroSmaller reporting companyo
Emerging growth companyo

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yeso Nox

As of May 1, 2024, the registrant’s outstanding shares of common stock were as follows:

Class A common stock88,419,220
Class B common stock58,226,680
Class C common stock23,879,467
Class D common stock6,653,303

QUARTERLY REPORT ON FORM 10-Q

TABLE OF CONTENTS

Page
Glossary1
Forward-Looking Statements2
PART IFINANCIAL INFORMATION3
ITEM 1.Financial Statements (Unaudited)3
Condensed Consolidated Balance Sheets3
Condensed Consolidated Statements of Operations5
Condensed Consolidated Statements of Comprehensive Income (Loss)6
Condensed Consolidated Statements of Stockholders’ Equity7
Condensed Consolidated Statements of Cash Flows9
Notes to Condensed Consolidated Financial Statements11
ITEM 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations28
ITEM 3.Quantitative and Qualitative Disclosures About Market Risk43
ITEM 4.Controls and Procedures44
PART IIOTHER INFORMATION45
ITEM 1.Legal Proceedings45
ITEM 1A.Risk Factors45
ITEM 2.Unregistered Sales of Equity Securities and Use of Proceeds90
ITEM 3.Defaults Upon Senior Securities90
ITEM 4.Mine Safety Disclosure90
ITEM 5.Other Information90
ITEM 6.Exhibits91
SIGNATURES93
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.