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Dutch Bros Inc.

For the period ended Jun 30, 2026. Filed Aug 6, 2026.

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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.

Jun 30, 2026 · Filed Aug 6, 2026

BROS$33.77-2.3%Stored close · as of Nov 6, 2026

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Key Performance Indicators

The key performance indicators that we use to effectively manage and evaluate our business are as follows:

Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands; unaudited)2026202520262025
Shop count, beginning of period
Company-operated844695811670
Franchised333317325312
Total shop count1,1771,0121,136982
Company-operated new openings44307755
Franchised new openings41126
Shop count, end of period
Company-operated888725888725
Franchised337318337318
Total shop count1,2251,0431,2251,043
Systemwide AUV 1N/AN/A$2,193$2,053
Company-operated shops AUV 1N/AN/A$2,164$1,982
Systemwide same shop sales 1, 25.8%6.1%6.9%5.3%
Ticket4.1%2.4%3.6%3.0%
Transactions1.7%3.7%3.3%2.3%
Company-operated same shop sales 18.3%7.8%9.3%7.2%
Ticket4.9%1.9%4.3%2.6%
Transactions3.4%5.9%5.0%4.6%
Systemwide sales 2$703,320$571,273$1,312,919$1,060,945
Company-operated shops operating weeks 311,1899,18421,68217,921
Franchising shops operating weeks 34,3534,1198,5838,130
Dutch Rewards transactions as a percentage of total transactions 473%72%74%72%
Three Months Ended June 30, · Six Months Ended June 30,
2026202520262025
(dollars in thousands; unaudited)$%$%$%$%
Company-operated shops revenues510,031100.0380,500100.0939,088100.0706,921100.0
Company-operated shops gross profit123,30124.292,55224.3209,08322.3164,05023.2
Company-operated shops contribution155,97030.6118,23631.1277,27429.5214,30130.3
Selling, general, and administrative expenses80,65114.665,38515.7153,82715.2124,30616.1
Adjusted selling, general, and administrative expenses72,49113.258,70914.1138,00313.6112,20614.6
Net income51,6059.438,3579.275,2697.460,8377.9
Adjusted EBITDA113,71420.689,00321.4193,08719.0151,90919.7

1 Starting in 2026, AUVs are determined based on the net sales for any trailing twelve-month period for systemwide and company-operated shops, and same shop sales represent the percentage change in year-over-year sales, for the comparable shop base, that have been open at least 15 complete months as of the first day of the quarterly reporting period. Prior to 2026, AUVs were determined based on shops that had been open a minimum of 15 months, and same shop base was defined as shops open for 15 complete months or longer as of the first day of the reporting period. Prior period numbers have not been adjusted to conform to the new definition as the changes did not have a material impact. AUVs are calculated by dividing the systemwide and company-operated shops net sales by the total number of systemwide and company-operated shops, respectively. Management uses these metrics as an indicator of shop growth, expectations of mature locations, and future expansion strategy. The number of shops included in the systemwide and company-operated comparable bases for the respective periods are presented in the following table.

Three Months Ended June 30,Six Months Ended June 30,
(unaudited)2026202520262025
Systemwide shop base982831982794
Company-operated shops base670542670510

2 Systemwide sales and systemwide same shop sales are operating measures that include sales at company-operated shops and sales at franchised shops during the comparable periods presented. Franchise sales represent sales at all franchise shops and are revenues to our franchise partners. We do not record franchise sales as revenues; however, our royalty revenues and advertising fund contributions are calculated based on a percentage of franchise sales. As these metrics include sales reported to us by our non-consolidated franchise partners, these metrics should be considered as a supplement to, not a substitute for, our results as reported under GAAP. Management uses these metrics as indicators of our system’s overall financial health, growth and future expansion prospects.

3 Company-operated and franchise shops operating weeks are calculated based on the number of operating days for the shop base and dividing by 7. Our shop base is defined as shops opened as of the period end date. Management uses these metrics as indicators of our system’s overall financial health, growth and future expansion prospects.

4 Dutch Rewards is our app-based digital loyalty program. Management uses this metric as an indicator of customer loyalty adoption of our Dutch Rewards app and future promotional plans.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.