Dutch Bros Q1 Earnings Report (Total revenues grew 30.8% to $464.4 million YoY)

TEMPE, Ariz.–(BUSINESS WIRE)–Dutch Bros Inc. (NYSE: BROS; “Dutch Bros” or the “Company”), one of the fastest-growing brands in the U.S. quick service beverage industry, today reported financial results for the first quarter ended March 31, 2026.

First Quarter 2026 Highlights

• Opened 41 new shops, 33 of which were company-operated.
• Total revenues grew 30.8% to $464.4 million as compared to $355.2 million in the same period of 2025.
• Systemwide same shop sales1 increased 8.3% and systemwide same shop transactions increased 5.1% relative to the same period in 2025. Company-operated same shop sales1 increased 10.6% and company-operated same shop transactions increased 6.9% relative to the same period of 2025.
• Net income was $23.7 million as compared to $22.5 million in the same period of 2025.
• Adjusted EBITDA2 grew 26.2% to $79.4 million as compared to $62.9 million in the same period of 2025.

Christine Barone, Chief Executive Officer and President of Dutch Bros, said, “Our first quarter results reinforce that Dutch Bros continues to operate in a category of its own. Our foundation is built for long-term scale, anchored by our people-led culture, meaningful customer connection, and industry-leading innovation. I am incredibly proud of the execution from our teams, and the results they have driven."

Barone continued, “We delivered exceptionally strong results this quarter, highlighted by 31% revenue growth and an outstanding 8.3% increase in system same shop sales, driven by our seventh consecutive quarter of transaction growth. We’re seeing this strength in existing and new markets, throughout dayparts and customer segments. Our teams continue to bring the electric energy, kindness, and connection that define the Dutch Bros experience and earn unrivaled customer engagement.”

Josh Guenser, Chief Financial Officer of Dutch Bros, concluded, “Based on the strong performance throughout the first quarter and the performance we have seen into the second quarter, we are raising our full-year guidance across the board. The trajectory of Dutch Bros remains incredibly strong.”

2026 Guidance

• Total revenues are now projected to be between approximately $2.05 billion and $2.08 billion.
• Same shop sales1 growth is now estimated to be in the range of 4% to 6%.
• Adjusted EBITDA3 is now estimated to be between $370 million and $380 million.
• Total system shop openings are now estimated to be at least 185.

The item below remains unchanged.

• Capital expenditures are estimated to be between $270 million and $290 million.