Dutch Bros Inc.
For the period ended Mar 31, 2025. Filed May 8, 2025.
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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.
Mar 31, 2025 · Filed May 8, 2025
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Income Tax Expense
| Three Months Ended March 31, | ||||
|---|---|---|---|---|
| (dollars in thousands; unaudited) · 2025 · 2024 · 2025 v. 2024 | ||||
| Income tax expense | $1,459 | $8,772 | $(7,313) | (83.4)% |
| Effective tax rate | 6.1% | 35.1% | N/A | N/M |
The effective tax rate for the quarter ended March 31, 2025, was 6.1%, which reflects the US federal statutory rate of 21% on pre-tax income, offset with the tax benefits of federal tax credits, income attributable to non-controlling interests, and tax deductions related to stock-based compensation.
The decrease in the effective tax rate from 35.1% in the same period in 2024 is due to tax deductions related to stock-based compensation, as well as a change in state earnings mix that occurred in 2024.
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