Dutch Bros financials
$38.10+0.95%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 |
|---|---|---|---|---|---|
| Revenue | $1.64B | $1.28B | $965.8M | $739.0M | $497.9M |
| Gross profit | $423.9M | $340.1M | $251.3M | $180.9M | $153.3M |
| Gross margin | 25.9% | 26.6% | 26.0% | 24.5% | 30.8% |
| Operating income | $161.2M | $106.1M | $46.2M | -$2.6M | -$111.2M |
| Net income | $79.8M | $35.3M | $1.7M | -$4.8M | -$12.7M |
| Net margin | 4.9% | 2.8% | 0.2% | −0.6% | −2.5% |
| Diluted EPS | $0.64 | $0.34 | $0.03 | $-0.09 | $-0.28 |
| EBITDA | $276.3M | $199.1M | $115.4M | $42.1M | -$86.0M |
| Operating cash flow | $295.5M | $246.4M | $139.9M | $59.9M | $80.4M |
| Free cash flow | $54.4M | $24.7M | -$88.5M | -$128.0M | -$38.1M |
| Diluted shares | 125.8M | 104.1M | 62.1M | 51.9M | 45.9M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|
| Cash & equivalents | $269.4M | $293.4M | $133.5M | $20.2M | $18.5M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | — |
| Total debt | $200.2M | $237.1M | $474.9M | $454.9M | $150.7M |
| Total assets | $3.01B | $2.50B | $1.76B | $1.19B | $553.7M |
| Total liabilities | $2.11B | $1.74B | $1.09B | $934.4M | $340.0M |
| Shareholders' equity | $897.9M | $763.9M | $675.9M | $252.0M | $213.7M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology