Dutch Bros Inc.

For the period ended Sep 30, 2025. Filed Nov 6, 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.

Sep 30, 2025 · Filed Nov 6, 2025

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

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

See the whole filing, with its images and exhibits

Contents

Condensed Consolidated Statements of Operations

	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands, except per share amounts; unaudited)	2025	2024	2025	2024
Revenues
Company-operated shops	$392,833	$308,295	$1,099,754	$851,648
Franchising and other	30,751	29,917	94,795	86,581
Total revenues	423,584	338,212	1,194,549	938,229
Costs and Expenses
Cost of sales	316,805	248,161	877,733	686,048
Selling, general and administrative	65,289	57,536	189,595	161,866
Total costs and expenses	382,094	305,697	1,067,328	847,914
Income from operations	41,490	32,515	127,221	90,315
Other expense
Interest expense, net	(6,695)	(6,869)	(20,886)	(20,259)
Other income (expense), net	149	764	(1,852)	7,357
Total other expense	(6,546)	(6,105)	(22,738)	(12,902)
Income before income taxes	34,944	26,410	104,483	77,413
Income tax expense	7,661	4,698	16,363	17,330
Net income	$27,283	$21,712	$88,120	$60,083
Less: Net income attributable to non-controlling interests	9,788	9,068	29,648	28,437
Net income attributable to Dutch Bros Inc.	$17,495	$12,644	$58,472	$31,646
Net income per share of Class A and Class D common stock:
Basic	$0.14	$0.11	$0.47	$0.32
Diluted	$0.14	$0.11	$0.47	$0.32
Weighted-average shares of Class A and Class D common stock outstanding:
Basic	126,986	113,819	124,751	99,756
Diluted	127,379	114,252	125,204	100,070

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.