NYSE$BROS
Dutch Bros Inc. · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
Dutch Bros reported Q4 2025 revenue of $444M with net income of $29.2M.
Total revenues grew 29.4% to $443.6 million on 7.7% system same-shop sales growth. Net income was $29.2 million and adjusted EBITDA rose 48.8% to $72.6 million. The company opened 55 new shops in the quarter and reiterated its 2,029-shop 2029 expansion goal.
- Q4 revenue $443.6M (+29% YoY).
- System same-shop sales +7.7%; transactions +5.4%.
- Adjusted EBITDA $72.6M (+49% YoY).
- Opened 55 new shops in Q4.
Headline financials
Revenue & EPS history
Dutch Bros · Revenue · Quarterly
$444M
Revenue by segment
Dutch Bros · $265M total across 2 segments · Q3 2023
- Company-operated shops$236M+36.3%89.4%
- Franchising and other$28M+11.5%10.6%
Forward guidance
The release discusses Dutch Bros's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.
Tailwinds
- Dutch Bros cites operational execution and demand trends supporting the outlook.
- Balance sheet and liquidity actions aim to fund growth and returns.
Headwinds
- Macro, pricing, and input-cost volatility could pressure margins.
- Segment mix and one-time items may affect quarter-to-quarter comparability.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q4 2025
+1.6%
Avg return
Earnings day
+3.5%
Avg return
5 days after
+3.0%
Avg return
30 days after
61%
11 / 18 earnings
Positive
+33.1%
Q3 2024
Best reaction
-38.5%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -9.2% | -14.2% | -6.0% | |
| Q4 2025 | +4.7% | +5.1% | -6.9% | |
| Q3 2025 | -4.2% | +0.8% | +5.2% | |
| Q1 2025 | +8.9% | +18.6% | +23.4% | |
| Q4 2024 | +29.1% | +31.9% | -3.4% | |
| Q3 2024 | +33.1% | +44.0% | +64.0% | |
| Q2 2024 | -19.9% | -22.8% | -15.6% | |
| Q1 2024 | +12.1% | +27.1% | +36.2% | |
| Q4 2023 | +1.0% | +6.2% | +23.7% | |
| Q3 2023 | +1.1% | +3.5% | +3.6% | |
| Q2 2023 | +18.2% | +19.4% | -4.0% | |
| Q1 2023 | -11.5% | -19.4% | -6.3% | |
| Q4 2022 | -8.9% | -12.1% | -23.3% | |
| Q3 2022 | +10.7% | +2.3% | +0.2% | |
| Q2 2022 | +8.9% | +10.9% | -12.9% | |
| Q1 2022 | -38.5% | -37.5% | -15.7% | |
| Q4 2021 | -8.3% | +2.4% | +14.6% | |
| Q3 2021 | +2.2% | -3.1% | -22.1% | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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