Dutch Bros Inc.

For the period ended Sep 30, 2026. Filed Nov 5, 2026.

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, 2026 · Filed Nov 5, 2026

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

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

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Contents

Condensed Consolidated Statements of Stockholders’ Equity

Three Months Ended September 30, 2026
	Dutch Bros Inc. Stockholders’ Equity
Class ACommon Stock · Class BCommon Stock · Class CCommon Stock
(in thousands; unaudited)	Shares	Amount	Shares	Amount	Shares	Amount	Additional Paid-in-Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Non-Controlling Interests	Total Equity
Balance, June 30, 2026	137,893	$1	35,178	$—	1,587	$—	$644,589	$47	$153,015	$177,362	$975,014
Net income	—	—	—	—	—	—	—	—	27,157	10,071	37,228
Unrealized loss on derivative securities, effective portion, net of income tax benefit of $25	—	—	—	—	—	—	—	(76)	—	(29)	(105)
Equity-based compensation expense	—	—	—	—	—	—	5,397	—	—	1,558	6,955
Issuance of Class A common stock pursuant to vesting of equity awards, net of stock withheld for tax withholding obligations	34	—	—	—	—	—	(815)	—	—	(234)	(1,049)
Issuance of Class A common stock for conversion of Dutch Bros OpCo Class A common units, and for surrender and cancellation of Class C common stock, pursuant to exchange transactions	24	—	—	—	(24)	—	—	—	—	—	—
Effect of equity transactions of Dutch Bros OpCo Class A common units	—	—	—	—	—	—	143	—	—	(143)	—
Impacts of Tax Receivable Agreements	—	—	—	—	—	—	320	—	—	—	320
Distributions paid to non-controlling interest holders	—	—	—	—	—	—	—	—	—	(9,242)	(9,242)
Balance, September 30, 2026	137,951	$1	35,178	$—	1,563	$—	$649,634	$(29)	$180,172	$179,343	$1,009,121

Condensed Consolidated Statements of Stockholders’ Equity

Nine Months Ended September 30, 2026
	Dutch Bros Inc. Stockholders’ Equity
Class ACommon Stock · Class BCommon Stock · Class CCommon Stock
(in thousands; unaudited)	Shares	Amount	Shares	Amount	Shares	Amount	Additional Paid-in-Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Non-Controlling Interests	Total Equity
Balance, December 31, 2025	127,054	$1	35,211	$—	2,280	$—	$581,261	$48	$99,508	$217,051	$897,869
Net income	—	—	—	—	—	—	—	—	80,664	31,833	112,497
Unrealized loss on derivative securities, effective portion, net of income tax benefit of $36	—	—	—	—	—	—	(32)	(77)	—	(40)	(149)
Equity-based compensation expense	—	—	—	—	—	—	14,500	—	—	4,612	19,112
Issuance of Class A common stock pursuant to vesting of equity awards, net of stock withheld for tax withholding obligations	283	—	—	—	—	—	(5,364)	—	—	(2,028)	(7,392)
Issuance of Class A common stock for conversion of Dutch Bros OpCo Class A common units, and for surrender and cancellation of Class C common stock, pursuant to exchange transactions	10,614	—	—	—	(715)	—	—	—	—	—	—
Effect of equity transactions of Dutch Bros OpCo Class A common units	—	—	—	—	—	—	45,989	—	—	(45,989)	—
Impacts of Tax Receivable Agreements	—	—	—	—	—	—	13,280	—	—	—	13,280
Reverse Split transaction pursuant to OpCo Recapitalization	—	—	(33)	—	(2)	—	—	—	—	—	—
Distributions paid to non-controlling interest holders	—	—	—	—	—	—	—	—	—	(26,096)	(26,096)
Balance, September 30, 2026	137,951	$1	35,178	$—	1,563	$—	$649,634	$(29)	$180,172	$179,343	$1,009,121

Condensed Consolidated Statements of Stockholders’ Equity (continued)

Three Months Ended September 30, 2025
	Dutch Bros Inc. Stockholders’ Equity
Class ACommon Stock · Class BCommon Stock · Class CCommon Stock
(in thousands; unaudited)	Shares	Amount	Shares	Amount	Shares	Amount	Additional Paid-in-Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings (Accumulated Deficit)	Non-Controlling Interests	Total Equity
Balance, June 30, 2025	126,932	$1	35,211	$—	2,347	$—	$575,240	$284	$60,643	$197,761	$833,929
Net income	—	—	—	—	—	—	—	—	17,495	9,788	27,283
Unrealized loss on derivative securities, effective portion, net of income tax benefit of $40	—	—	—	—	—	—	—	(122)	—	(65)	(187)
Equity-based compensation expense	—	—	—	—	—	—	3,326	—	—	1,322	4,648
Issuance of Class A common stock pursuant to vesting of equity awards, net of stock withheld for tax withholding obligations	32	—	—	—	—	—	(728)	—	—	(289)	(1,017)
Issuance of Class A common stock for conversion of Dutch Bros OpCo Class A common units, and for surrender and cancellation of Class C common stock, pursuant to exchange transactions	67	—	—	—	(67)	—	—	—	—	—	—
Effect of equity transactions of Dutch Bros OpCo Class A common units	—	—	—	—	—	—	45	—	—	(45)	—
Impacts of Tax Receivable Agreements	—	—	—	—	—	—	373	—	—	—	373
Balance, September 30, 2025	127,031	$1	35,211	$—	2,280	$—	$578,256	$162	$78,138	$208,472	$865,029

Condensed Consolidated Statements of Stockholders’ Equity (continued)

Nine Months Ended September 30, 2025
	Dutch Bros Inc. Stockholders’ Equity
Class ACommon Stock · Class BCommon Stock · Class CCommon Stock
(in thousands; unaudited)	Shares	Amount	Shares	Amount	Shares	Amount	Additional Paid-in-Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings (Accumulated Deficit)	Non-Controlling Interests	Total Equity
Balance, December 31, 2024	115,432	$1	35,227	$—	3,545	$—	$517,074	$628	$19,666	$226,496	$763,865
Net income	—	—	—	—	—	—	—	—	58,472	29,648	88,120
Unrealized gain (loss) on derivative securities, effective portion, net of income tax benefit of $187	—	—	—	—	—	—	(108)	(466)	—	(311)	(885)
Equity-based compensation expense	—	—	—	—	—	—	9,567	—	—	3,946	13,513
Issuance of Class A common stock pursuant to vesting of equity awards, net of stock withheld for tax withholding obligations	335	—	—	—	—	—	(8,499)	—	—	(3,536)	(12,035)
Issuance of Class A common stock for conversion of Dutch Bros OpCo Class A common units, and for surrender and cancellation of Class C common stock, pursuant to exchange transactions	11,264	—	—	—	(1,264)	—	—	—	—	—	—
Effect of exchange transactions of Dutch Bros OpCo Class A common units	—	—	—	—	—	—	40,904	—	—	(40,904)	—
Impacts of Tax Receivable Agreements	—	—	—	—	—	—	19,318	—	—	—	19,318
Reverse Split transaction pursuant to OpCo Recapitalization	—	—	(16)	—	(1)	—	—	—	—	—	—
Distributions paid to non-controlling interest holders	—	—	—	—	—	—	—	—	—	(6,867)	(6,867)
Balance, September 30, 2025	127,031	$1	35,211	$—	2,280	$—	$578,256	$162	$78,138	$208,472	$865,029

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.