Dutch Bros Inc

For the period ended Sep 30, 2024. Filed Nov 7, 2024.

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.

Sep 30, 2024 · Filed Nov 7, 2024

BROS$35.29-2.0%Stored close · as of Nov 10, 2026

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Condensed Consolidated Statements of Operations

	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands, except per share amounts; unaudited)	2024	2023	2024	2023
REVENUES
Company-operated shops	$308,295	$236,472	$851,648	$630,588
Franchising and other	29,917	28,035	86,581	81,065
Total revenues	338,212	264,507	938,229	711,653
COSTS AND EXPENSES
Cost of sales	248,161	189,323	686,048	519,482
Selling, general and administrative	57,536	50,490	161,866	148,128
Total costs and expenses	305,697	239,813	847,914	667,610
INCOME FROM OPERATIONS	32,515	24,694	90,315	44,043
OTHER EXPENSE
Interest expense, net	(6,869)	(9,325)	(20,259)	(26,269)
Other income (expense), net	764	(140)	7,357	2,206
Total other expense	(6,105)	(9,465)	(12,902)	(24,063)
INCOME BEFORE INCOME TAXES	26,410	15,229	77,413	19,980
Income tax expense	4,698	1,828	17,330	6,259
NET INCOME	$21,712	$13,401	$60,083	$13,721
Less: Net income attributable to non-controlling interests	9,068	9,191	28,437	10,601
NET INCOME ATTRIBUTABLE TO DUTCH BROS INC.	$12,644	$4,210	$31,646	$3,120
Net income per share of Class A and Class D common stock:
Basic	$0.11	$0.07	$0.32	$0.05
Diluted	$0.11	$0.07	$0.32	$0.05
Weighted-average shares of Class A and Class D common stock outstanding:
Basic	113,819	59,366	99,756	57,598
Diluted	114,252	60,214	100,070	57,598

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