The earnings call reflects a positive sentiment with strong revenue growth, impressive same-shop sales, and successful expansion efforts. The company's strategic initiatives, including a focus on innovation, loyalty programs, and an ambitious expansion plan, are driving substantial growth. While there are some concerns regarding coffee tariffs and occupancy costs, the overall outlook remains very optimistic, leading to raised full-year guidance.

Company Guidance -

Q3 2025

During the Dutch Bros Second Quarter 2025 Earnings Call, the company reported strong financial performance and increased guidance for the year. Revenue grew by 28% to $416 million, and system same-shop sales growth was 6.1%, driven by a 3.7% increase in transactions. New shop productivity remained high, with 31 new shops opened in Q2, and the company aims to open at least 160 system shops in 2025. System-wide average unit volumes (AUVs) were $2.05 million, contributing to a 37% growth in adjusted EBITDA. The company's loyalty program accounted for 72% of system transactions, and order ahead options reached 11.5% of the transaction mix. Based on these results, Dutch Bros raised its full-year guidance for total revenues, same-shop sales growth, and adjusted EBITDA, projecting total revenues of $1.59 billion to $1.6 billion and adjusted EBITDA between $285 million and $290 million.

Strong Revenue Growth

Dutch Bros reported a 28% increase in revenue for Q2 2025, reaching $416 million, demonstrating strong business momentum.

Impressive Same-Shop Sales Growth

System same-shop sales grew by 6.1%, with transaction growth of 3.7%, reflecting successful transaction-driving initiatives.

Expansion and New Markets

The company opened 31 new shops in Q2, including entry into Indiana, bringing the total to 1,043 shops, with plans to open at least 160 system shops in 2025.

Adjusted EBITDA Growth

Adjusted EBITDA increased by 37% to $89 million, indicating strong operational efficiency and profitability.

Loyalty Program Success

Approximately 72% of system transactions were attributed to the Dutch Rewards program, showing a 5-point increase year-over-year.

Raised Full-Year Guidance

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

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.