---
schema_version: "secwatch.filing_event.v1"
accession: "0001866581-23-000074"
form_type: "8-K"
ticker: "BROS"
cik: "0001866581"
company_name: "Dutch Bros Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T10:18:32.934132+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Dutch Bros Q1 revenue up 30% to $197.3M, net loss narrows; record 45 shop openings

## Summary
- Revenue grew 29.6% to $197.3M; net loss improved to $9.4M from $16.3M YoY.
- Opened 45 new systemwide shops (42 company-operated); reaffirms at least 150 total in 2023.
- Company-operated shop contribution margin rose 590bps to 24.2%.
- Adjusted EBITDA surged 147.2% to $23.9M; adjusted net loss nearly breakeven.
- FY2023 guidance reiterated: revenue $950M-$1B, adjusted EBITDA ~$125M, capex $225M-$250M.

## SEC filing metadata
- accession: 0001866581-23-000074
- form_type: 8-K
- ticker: BROS
- cik: 0001866581
- company_name: Dutch Bros Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1866581/000186658123000074/0001866581-23-000074-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1866581/000186658123000074/bros-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001866581-23-000074
- JSON: https://secwatch.observer/filing/0001866581-23-000074.json
- Plain text: https://secwatch.observer/filing/0001866581-23-000074.txt

## Key facts
- Earnings Releases
  Dutch Bros Inc. reported the first quarter ended March 31, 2023 results: revenue $197.3 million, EPS $0.07. Guidance reaffirmed.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $197.3 million
  - EPS: $0.07
  - Guidance: reaffirmed
  - Result: reported results
  source text: EX-99.1 (EX-99.1) --- Dutch Bros Inc. Reports First Quarter 2023 Financial Results Record 45 New Systemwide Shop Openings in Q1 2023 Quarterly Revenue Increased Nearly 30% to $197.3 million Reaffirms 2023 Guidance GRANTS PASS, Ore. - May 9, 2023 - Dutch Bros Inc. (NYSE: BROS; “Dutch Bros” or the “Company”) one of the fastest-growing brands in the food service and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1866581/000186658123000074/0001866581-23-000074-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.