Dutch Bros Inc.

For the period ended Jun 30, 2025. Filed Aug 7, 2025.

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.

Jun 30, 2025 · Filed Aug 7, 2025

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

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Contents

Condensed Consolidated Statements of Operations

	Three Months Ended June 30,		Six Months Ended June 30,
(in thousands, except per share amounts; unaudited)	2025	2024	2025	2024
Revenues
Company-operated shops	$380,500	$295,268	$706,921	$543,353
Franchising and other	35,313	29,650	64,044	56,664
Total revenues	415,813	324,918	770,965	600,017
Costs and Expenses
Cost of sales	295,769	234,637	560,928	437,887
Selling, general and administrative	65,385	58,097	124,306	104,330
Total costs and expenses	361,154	292,734	685,234	542,217
Income from operations	54,659	32,184	85,731	57,800
Other expense
Interest expense, net	(7,076)	(6,997)	(14,191)	(13,390)
Other income (expense), net	(1,983)	829	(2,001)	6,593
Total other expense	(9,059)	(6,168)	(16,192)	(6,797)
Income before income taxes	45,600	26,016	69,539	51,003
Income tax expense	7,243	3,860	8,702	12,632
Net income	$38,357	$22,156	$60,837	$38,371
Less: Net income attributable to non-controlling interests	12,733	10,216	19,860	19,369
Net income attributable to Dutch Bros Inc.	$25,624	$11,940	$40,977	$19,002
Net income per share of Class A and Class D common stock:
Basic	$0.20	$0.12	$0.33	$0.21
Diluted	$0.20	$0.12	$0.33	$0.20
Weighted-average shares of Class A and Class D common stock outstanding:
Basic	126,390	101,965	123,615	92,647
Diluted	126,830	102,356	124,178	93,049

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.