Dutch Bros Inc.
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 13, 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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Income Tax Expense
| Year Ended December 31, | |||||||
|---|---|---|---|---|---|---|---|
| (dollars in thousands; unaudited) · 2025 · 2024 · 2023 · 2025 v. 2024 · 2024 v 2023 | |||||||
| Income tax expense | $18,348 | $18,435 | $6,967 | $(87) | (0.5)% | $11,468 | 164.6% |
| Effective tax rate | 13.5% | 21.7% | 41.2% | N/A | N/A | N/A | N/M |
The decrease in the effective tax rate to 13.5% from 21.7% in the same period in 2024 is due to tax deductions related to stock-based compensation, as well as the impact of changes in state rates and apportionment of deferred taxes.
See NOTE 12 — Income Taxes for additional details.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.