Dutch Bros Inc.

Results for our company-operated shops segment were as follows:

Company-operated Shops Segment Performance

Company-operated Shops Revenue

Company-operated shops revenue increased $268.8 million from newly opened shops not yet in the comparable shop base and $74.6 million from a 7.4% increase in same shop sales.

Beverage, Food, and Packaging Costs

As a percentage of company-operated shops revenues, beverage, food and packaging costs increased by 40 basis points. This was primarily due to a 90 basis points increase in coffee costs, partially offset by impact of pricing on the comparable shop base.

Labor Costs

As a percentage of company-operated shops revenues, labor costs decreased by 20 basis points. This was primarily due to the impact of pricing and sales leverage, partially offset by increased wages.

Occupancy and Other Costs

As a percentage of company-operated shops revenues, occupancy and other costs increased by 20 basis points. These increases were primarily due to the impact of occupancy rates from new shops as we shift our lease types to a greater proportion of build-to-suit lease agreements, partially offset by leverage.

Pre-opening Costs

The increase in pre-opening costs was primarily driven by increased travel for setup and training teams, and lease expense related to unopened shops, in the year ended December 31, 2025 as compared to the same period in 2024.

Depreciation and Amortization

The increase in depreciation and amortization was primarily driven by the increase in the number of company-operated shops in the current period compared to the prior period.

Company-operated Shops Gross Profit and Contribution

The company-operated shops gross profit margin decreased by 40 basis points. This was primarily driven by increased coffee costs and labor costs partially offset by pricing and leverage from increased sales in the comparable shop base.