# Dutch Bros Inc.: overview

BROS · NYSE · CIK 1866581 · [Consumer discretionary](/sectors/consumer-discretionary.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/bros.md) · [Financials](/companies/bros/financials.md) · [Filings](/companies/bros/filings.md) · [Insiders](/companies/bros/insiders.md)

Latest reported revenue: [$550.9m](/filings/0001866581-26-000133.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001866581-26-000133).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [338](/filings/0001866581-25-000227.md) | [343 d](/filings/0001866581-26-000006.md) | [355](/filings/0001866581-26-000078.md) | [416](/filings/0001866581-26-000133.md) | [424](/filings/0001866581-25-000227.md) | [444 d](/filings/0001866581-26-000006.md) | [464](/filings/0001866581-26-000078.md) | [551](/filings/0001866581-26-000133.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [9.6%](/filings/0001866581-25-000227.md) | [4.6% d](/filings/0001866581-26-000006.md) | [8.7%](/filings/0001866581-26-000078.md) | [13.1%](/filings/0001866581-26-000133.md) | [9.8%](/filings/0001866581-25-000227.md) | [7.7% d](/filings/0001866581-26-000006.md) | [7.4%](/filings/0001866581-26-000078.md) | [12.8%](/filings/0001866581-26-000133.md) |
| Net margin | % | [3.7%](/filings/0001866581-25-000227.md) | [1.1% d](/filings/0001866581-26-000006.md) | [4.3%](/filings/0001866581-26-000078.md) | [6.2%](/filings/0001866581-26-000133.md) | [4.1%](/filings/0001866581-25-000227.md) | [4.8% d](/filings/0001866581-26-000006.md) | [3.5%](/filings/0001866581-26-000078.md) | [6.8%](/filings/0001866581-26-000133.md) |
| Diluted EPS | $ per share | [0.11](/filings/0001866581-25-000227.md) | not reported | [0.13](/filings/0001866581-26-000078.md) | [0.20](/filings/0001866581-26-000133.md) | [0.14](/filings/0001866581-25-000227.md) | not reported | [0.13](/filings/0001866581-26-000078.md) | [0.28](/filings/0001866581-26-000133.md) |
| Free cash flow | $m | [26.4 d](/filings/0001866581-25-000227.md) | [19.5 d](/filings/0001866581-26-000006.md) | [(8.7)](/filings/0001866581-26-000078.md) | [35.7 d](/filings/0001866581-26-000133.md) | [18.9 d](/filings/0001866581-25-000227.md) | [8.5 d](/filings/0001866581-26-000006.md) | [27.7](/filings/0001866581-26-000078.md) | [39.9 d](/filings/0001866581-26-000133.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [498](/filings/0001866581-24-000038.md) | [739](/filings/0001866581-25-000048.md) | [966](/filings/0001866581-26-000006.md) | [1,281](/filings/0001866581-26-000006.md) | [1,638](/filings/0001866581-26-000006.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(22.3%)](/filings/0001866581-24-000038.md) | [(0.4%)](/filings/0001866581-25-000048.md) | [4.8%](/filings/0001866581-26-000006.md) | [8.3%](/filings/0001866581-26-000006.md) | [9.8%](/filings/0001866581-26-000006.md) |
| Net margin | % | [(2.5%)](/filings/0001866581-24-000038.md) | [(0.6%)](/filings/0001866581-25-000048.md) | [0.2%](/filings/0001866581-26-000006.md) | [2.8%](/filings/0001866581-26-000006.md) | [4.9%](/filings/0001866581-26-000006.md) |
| Diluted EPS | $ per share | [(0.28)](/filings/0001866581-24-000038.md) | [(0.09)](/filings/0001866581-25-000048.md) | [0.03](/filings/0001866581-26-000006.md) | [0.34](/filings/0001866581-26-000006.md) | [0.64](/filings/0001866581-26-000006.md) |
| Free cash flow | $m | [(38.1)](/filings/0001866581-24-000038.md) | [(128)](/filings/0001866581-25-000048.md) | [(88.5)](/filings/0001866581-26-000006.md) | [24.7](/filings/0001866581-26-000006.md) | [54.4](/filings/0001866581-26-000006.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/bros/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $1.20bn | 16,724,132 |  | Added +7,157,735 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $1.05bn | 14,662,985 |  | Added +784,858 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $435.6m | 6,066,585 |  | Added +376,484 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $426.4m | 5,938,536 |  | Added +466,063 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $276.6m | 3,851,321 |  | Added +71,814 |
| [WELLINGTON MANAGEMENT GROUP LLP](/funds/902219.md) | 2026-06-30 | $222.0m | 3,090,882 |  | Added +851,075 |
| [BAILLIE GIFFORD & CO](/funds/1088875.md) | 2026-06-30 | $196.7m | 2,738,885 |  | Reduced −255,326 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $178.4m | 2,483,555 |  | Reduced −46,574 |
| [CITADEL ADVISORS LLC](/funds/1423053.md) | 2026-06-30 | $158.8m | 2,210,958 |  | Added +204,005 |
| [WESTFIELD CAPITAL MANAGEMENT CO LP](/funds/1177719.md) | 2026-06-30 | $156.8m | 2,184,001 |  | Reduced −129,356 |

## Recent filings

[All 684 filings](/companies/bros/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-06 | 18:09 ET | [10-Q](/filings/0001866581-26-000133.md) | Quarterly report, period 2026-06-30 | 0001866581-26-000133 |
| 2026-08-05 | 16:07 ET | [8-K](/filings/0001866581-26-000131.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001866581-26-000131 |
| 2026-05-19 | 18:59 ET | [8-K/A](/filings/0001866581-26-000101.md) | 5.07 Shareholder vote results | 0001866581-26-000101 |
| 2026-05-15 | 15:02 ET | [8-K](/filings/0001866581-26-000085.md) | 5.07 Shareholder vote results | 0001866581-26-000085 |
| 2026-05-06 | 17:17 ET | [10-Q](/filings/0001866581-26-000078.md) | Quarterly report, period 2026-03-31 | 0001866581-26-000078 |
| 2026-05-06 | 16:06 ET | [8-K](/filings/0001866581-26-000077.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001866581-26-000077 |
| 2026-03-31 | 16:10 ET | [DEF 14A](/filings/0001866581-26-000055.md) | Proxy statement, period 2026-05-13 | 0001866581-26-000055 |
| 2026-02-13 | 18:02 ET | [10-K](/filings/0001866581-26-000006.md) | Annual report, period 2025-12-31 | 0001866581-26-000006 |
| 2026-02-12 | 16:06 ET | [8-K](/filings/0001866581-26-000003.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001866581-26-000003 |
| 2025-11-06 | 18:06 ET | [10-Q](/filings/0001866581-25-000227.md) | Quarterly report, period 2025-09-30 | 0001866581-25-000227 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001866581-26-000006.md), filed Feb 13, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/326ba167-9450-482f-bb3b-3c655b1d395b)

## About the filer

- CIK: 1866581
- Tickers: BROS
- Exchange: NYSE
- SIC code: 5810 Retail-Eating & Drinking Places
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 18:42 ET. No prices; not investment advice.