Dutch Bros Inc
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 13, 2025
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Selling, General, and Administrative
| Year Ended December 31, | |||||||
|---|---|---|---|---|---|---|---|
| (in thousands; unaudited) · 2024 · 2023 · 2022 · 2024 v. 2023 · 2023 v 2022 | |||||||
| Selling, General and Administrative | $234,036 | $205,074 | $183,528 | $28,962 | 14.1% | $21,546 | 11.7% |
| As a percentage of total revenues | 18.3% | 21.2% | 24.8% | N/A | (290) bps | N/A | N/M |
The selling, general, and administrative increase of approximately $29.0 million was primarily driven by increased expenses of $25.8 million primarily consisting of investments in human capital to support our revenue growth and higher performance-based compensation; an increase of $15.7 million of organization realignment and restructuring costs (which includes a $1.8 million net expense that resulted from the donation of our former Grants Pass headquarters building for the development of a children’s learning center); $12.6 million of increased professional fees and technology services to support our growing business; and $4.0 million of increased donations to our Foundation. These increases were partially offset by lower equity-based compensation of $28.6 million.
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