The earnings call reflected a strong positive sentiment with significant revenue growth, expansion into new markets, and substantial improvements in operational efficiencies, despite challenges with increasing coffee costs and occupancy expenses.

Company Guidance -

Q3 2025

During the Dutch Bros Second Quarter 2025 Earnings Conference Call, the company reported a robust financial performance with a 28% increase in revenue and a 37% growth in adjusted EBITDA. System same-shop sales grew by 6.1%, driven primarily by a 3.7% increase in transactions, and company-operated same-shop sales growth was 7.8%. The company opened 31 new shops in Q2, expanding into Indiana, and plans to open at least 160 new shops in 2025. The system-wide average unit volume (AUV) remained strong at $2.05 million. Dutch Bros also reported a 5-point increase in transactions attributed to its loyalty program, Dutch Rewards, which accounted for 72% of system transactions. As a result of these strong metrics, the company raised its full-year guidance for total revenue, same-shop sales growth, and adjusted EBITDA, projecting total revenues between $1.59 billion and $1.6 billion and adjusted EBITDA between $285 million and $290 million for 2025.

Strong Revenue Growth

Dutch Bros reported a 28% increase in revenue for Q2 2025, amounting to $416 million, compared to the same quarter last year.

Increase in Same-Shop Sales

System same-shop sales growth was recorded at 6.1%, driven by a 3.7% increase in transactions.

Expansion and New Markets

Dutch Bros opened 31 new shops in Q2, including entry into Indiana, reaching a total of 1,043 shops system-wide.

Adjusted EBITDA Growth

The company achieved a 37% increase in adjusted EBITDA, reaching $89 million for the quarter.

Raising Full-Year Guidance

Based on strong performance, Dutch Bros raised its full-year guidance for total revenues, same-shop sales growth, and adjusted EBITDA.

Dutch Rewards Program Success

Approximately 72% of system transactions were attributed to the loyalty program, a 5-point increase from the previous year.

Operational Efficiency Improvements

New shop productivity and operational efficiencies contributed to maintaining high levels of productivity and reducing CapEx per shop by 15%.

Dutch Bros Inc (BROS) Earnings, Revenues Date & History

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BROS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	0.17 / -	0.16	―	―	―
May 08, 2025	2025 (Q2)	0.18 / 0.26	0.19	36.84% (+0.07)	―	―
May 07, 2025	2025 (Q1)	0.10 / 0.14	0.09	55.56% (+0.05)
Feb 12, 2025	2024 (Q4)	0.02 / 0.07	0.04	75.00% (+0.03)
Nov 06, 2024	2024 (Q3)	0.12 / 0.16	0.14	14.29% (+0.02)
Aug 07, 2024	2024 (Q2)	0.13 / 0.19	0.13	46.15% (+0.06)
May 07, 2024	2024 (Q1)	0.01 / 0.09	0	―
Feb 21, 2024	2023 (Q4)	0.02 / 0.04	0.03	33.33% (+0.01)
Nov 07, 2023	2023 (Q3)	0.06 / 0.14	0.09	55.56% (+0.05)
Aug 08, 2023	2023 (Q2)	0.06 / 0.13	0.05	160.00% (+0.08)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

BROS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 08, 2025	$64.45	$63.43	-1.58%
May 07, 2025	$59.22	$64.45	+8.83%
Feb 12, 2025	$64.71	$83.54	+29.10%
Nov 06, 2024	$34.94	$44.77	+28.13%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.