---
schema_version: "secwatch.filing_event.v1"
accession: "0001866581-23-000108"
form_type: "8-K"
ticker: "BROS"
cik: "0001866581"
company_name: "Dutch Bros Inc."
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T02:56:58.040251+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Dutch Bros Q2 revenue up 34% to $250M; raises FY EBITDA guidance; CEO succession

## Summary
- Q2 revenue $249.9M (+34% YoY); net income $9.7M vs $(1.8M) loss; adj. EBITDA $48.6M (+103%).
- System same-shop sales +3.8%; company-operated +1.6%; opened 38 new shops in Q2.
- Raised FY 2023 adj. EBITDA guidance to $135-140M (from ≥$125M); rev. at lower end of $950M-$1B.
- Christine Barone to become CEO on Jan 1, 2024; current CEO Joth Ricci to step down after transitional period.
- Amended credit facility increased from $500M to $650M; maturity extended to Feb 2027.

## SEC filing metadata
- accession: 0001866581-23-000108
- form_type: 8-K
- ticker: BROS
- cik: 0001866581
- company_name: Dutch Bros Inc.
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1866581/000186658123000108/0001866581-23-000108-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1866581/000186658123000108/bros-20230804.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001866581-23-000108
- JSON: https://secwatch.observer/filing/0001866581-23-000108.json
- Plain text: https://secwatch.observer/filing/0001866581-23-000108.txt

## Key facts
- Earnings Releases
  Dutch Bros Inc. reported the second quarter ended June 30, 2023 results: revenue $249.9 million, net income $9.7 million, EPS $0.05. Guidance reaffirmed.
  - Period: the second quarter ended June 30, 2023
  - Revenue: $249.9 million
  - Net income: $9.7 million
  - EPS: $0.05
  - Guidance: reaffirmed
  - Result: reported results
  source text: --- EX-99.1 (EX-99.1) --- Dutch Bros Inc. Reports Second Quarter 2023 Financial Results Opened 38 New Systemwide Shops in Q2 2023 Quarterly Revenue Increased 34% to $250 million Announces Leadership Transition Updates 2023 Guidance GRANTS PASS, Ore. - August 8, 2023 - Dutch Bros Inc. (NYSE: BROS; “Dutch Bros” or the “Company”) one of the fastest-growing
  evidence_url: https://www.sec.gov/Archives/edgar/data/1866581/000186658123000108/0001866581-23-000108-index.htm
- Executive change
  Christine Barone was appointed as Chief Executive Officer and President at Dutch Bros Inc..
  - Action: appointed
  - Role: Chief Executive Officer and President
  source text: the Board plans to appoint Christine Barone, President of the Company, to the role of Chief Executive Officer and President
  evidence_url: https://www.sec.gov/Archives/edgar/data/1866581/000186658123000108/0001866581-23-000108-index.htm
- Executive change
  Joth Ricci departed as Chief Executive Officer at Dutch Bros Inc..
  - Action: departed
  - Role: Chief Executive Officer
  source text: Joth Ricci’s planned January 2024 departure from his current role of Chief Executive Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1866581/000186658123000108/0001866581-23-000108-index.htm
- Material Agreements
  Dutch Bros Inc. amended Amended 2022 Credit Facility with JPMorgan Chase Bank, N.A. as administrative agent and other financial institutions as the lenders party thereto valued at up to $650 million (effective 2023-08-04).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A. as administrative agent and other financial institutions as the lenders party thereto
  - Value: up to $650 million
  - Effective: 2023-08-04
  source text: On August 4, 2023, certain Dutch Bros Inc. (the Company) subsidiaries (the Loan Parties) entered into an amendment to the existing $500 million senior secured credit facility, dated February 28, 2022, with JPMorgan Chase Bank, N.A. as administrative agent and other financial institutions as the lenders party thereto (as amended, the Amended 2022 Credit Facility).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1866581/000186658123000108/0001866581-23-000108-index.htm

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