{"schema_version":"secwatch.filing_event.v1","accession":"0001866581-23-000128","form_type":"8-K","ticker":"BROS","cik":"0001866581","company_name":"Dutch Bros Inc.","filed_at":"2023-11-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.195526+00:00","generated_at":"2026-06-08T17:36:13.645941+00:00","sec_items":["2.02","5.02","7.01","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Dutch Bros Q3 revenue +33% to $265M; raises FY adj. EBITDA guidance to $150-155M","bullets":["Revenue $264.5M (+33.2% YoY); net income $13.4M vs $1.6M; adj. EPS $0.14 vs $0.09.","System same shop sales +4.0%; company-operated shop contribution margin 31.0% (+540 bps).","Opened 39 new shops in Q3, total 794; reaffirms ≥150 new shops in 2023.","2023 guidance: revenue at lower end of $950M-$1B; adj. EBITDA raised to $150-155M (up $15M).","Board changes: Shelley Broader and Charles Esserman resigned; C. David Cone and Sean Sullivan appointed."],"urls":{"canonical":"https://secwatch.observer/filing/0001866581-23-000128","json":"https://secwatch.observer/filing/0001866581-23-000128.json","markdown":"https://secwatch.observer/filing/0001866581-23-000128.md","text":"https://secwatch.observer/filing/0001866581-23-000128.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1866581/000186658123000128/0001866581-23-000128-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1866581/000186658123000128/bros-20231102.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T17:36:13.645941+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"393a9dad1e6404cfd46c1926a0081d250b34dece","claim":"Dutch Bros Inc. reported the third quarter ended September 30, 2023 results: revenue $264.5 million, net income $13.4 million, EPS $0.07.","evidence_excerpt":"EX-99.1 (EX-99.1) --- Dutch Bros Inc. Reports Third Quarter 2023 Financial Results and Announces Two New Directors Opened 39 New Systemwide Shops in Q3 2023 Record Revenue of $265 million, a 33% Increase Year-over-Year Updates 2023 Guidance, Increases Range for Adjusted EBITDA GRANTS PASS, Ore. - November 7, 2023 - Dutch Bros Inc. (NYSE: BROS; “Dutch Bros” or the","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1866581/000186658123000128/0001866581-23-000128-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the third quarter ended September 30, 2023"},{"label":"Revenue","value":"$264.5 million"},{"label":"Net income","value":"$13.4 million"},{"label":"EPS","value":"$0.07"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"3c4d048978","claim":"Charles Esserman resigned as Director at Dutch Bros Inc..","evidence_excerpt":"On November 3, 2023, Charles Esserman resigned from the Board.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1866581/000186658123000128/0001866581-23-000128-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"43e9e18303","claim":"C. David Cone was appointed as Director at Dutch Bros Inc..","evidence_excerpt":"On November 3, 2023, the Board appointed C. David Cone to fill the vacancy created by Ms. Broader’s departure and to serve as a member of the Board until the Company’s 2024 annual meeting of stockholders and until his successor has been duly elected and qualified, or until his earlier death, resignation, or removal.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1866581/000186658123000128/0001866581-23-000128-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"cda39a6ebc","claim":"Sean Sullivan was appointed as Director at Dutch Bros Inc..","evidence_excerpt":"On November 3, 2023, the TSG Investors designated Sean Sullivan to fill the vacancy on the Board created by Mr. Esserman’s resignation and to serve as a Class C Director until the Company’s 2024 annual meeting of stockholders and until his successor has been duly elected and qualified, or until his earlier death, resignation, or removal.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1866581/000186658123000128/0001866581-23-000128-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"designated"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"f36e81b996","claim":"Shelley Broader resigned as Director at Dutch Bros Inc..","evidence_excerpt":"On November 2, 2023, Shelley Broader resigned from the Board of Directors (the “Board”) of Dutch Bros Inc. (the “Company”).","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1866581/000186658123000128/0001866581-23-000128-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}