Dutch Bros Inc.

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

1 Reconciliation of GAAP to non-GAAP results is provided in the section “Non-GAAP Financial Measures” in Part I, Item 2 “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

Company-operated Shops Segment Performance

Company-operated Shops Revenue

Company-operated shops revenue increased $62.0 million from newly opened shops not yet in the comparable shop base and $22.5 million from a 7.4% increase in same shop sales.

Company-operated shops revenue increased $194.5 million from newly opened shops not yet in the comparable shop base and $53.6 million from a 7.0% 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 60 basis points. This was primarily due to an increase in coffee costs of 70 basis points, partially offset by the impact of pricing on the comparable shop base.

As a percentage of company-operated shops revenues, beverage, food and packaging costs decreased by 10 basis points. This was primarily due to a 60 basis point impact of pricing on the comparable shop base, partially offset by an increase in coffee costs.

Labor Costs

As a percentage of company-operated shops revenues, labor costs decreased by 10 basis points primarily due to the impact of pricing and sales leverage, partially offset by increased wages.

As a percentage of company-operated shops revenues, labor costs increased by 10 basis points. This was primarily due to 80 basis points from increased wages partially offset by a decrease of 60 basis points from the impact of pricing.

Occupancy and Other Costs

As a percentage of company-operated shops revenues, occupancy and other costs increased by 60 basis points and 40 basis points for the three and nine months ended September 30, 2025, respectively. 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.

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 three and nine months ended September 30, 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 1

1 Reconciliation of GAAP to non-GAAP results is provided in the section “Non-GAAP Financial Measures” in Part I, Item 2 “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

The company-operated shops gross profit margin decreased by 120 basis points and 20 basis points for the three and nine months ended September 30, 2025, respectively. This was primarily driven by increased coffee costs and labor costs partially offset by leverage from increased sales in the comparable shop base.