Dutch Bros Inc. (BROS): debt financing — Dutch Bros Q4 revenue up 26% to $254M; system same-shop sales +5%; draws $150M; guides FY24 revenue $1.19-1.20B

Dutch Bros Inc.

2023-FY EPS reported $0.03 revenue$965,776,000

Q4 total revenue $254.1M (+25.9% YoY); system same-shop sales +5.0%; FY23 revenue $965.8M (+30.7%), adjusted EBITDA $160.1M (+75.5%).
Net loss per diluted share $0.02 (Q4) and $0.03 (FY23); adjusted net income per fully exchanged share $0.04 (Q4) and $0.30 (FY23).
FY24 outlook: revenue $1.190-1.205B, adjusted EBITDA $185-195M, shop openings 150-165; low single-digit same-shop sales growth.
Drew $150M delayed draw term loan on Feb 20; $50M remains available until Feb 2025; proceeds for general corporate purposes and new shops.
Arizona support center expansion: ~40% of support staff in AZ by Jan 2025; estimated costs $24-31M plus $6-10M capex.

item 2.02 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Dutch Bros Inc. incurred term loan of $150 million with JPMorgan Chase Bank, N.A. (as administrative agent) and other lenders maturing February 28, 2027.

Instrument: term loan
Principal: $150 million
Counterparty: JPMorgan Chase Bank, N.A. (as administrative agent) and other lenders
Maturity: February 28, 2027
Event: incurrence

Exact text from the filing

On February 20, 2024, certain Company subsidiaries drew $150 million on the delayed draw term loan facility under the existing 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 “2022 Credit Facility”), before this portion was set to expire on February 28, 2024.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Dutch Bros Inc. reported the fourth quarter and year ended December 31, 2023 results: revenue $254.1 million, net income Net loss was $3.8 million, EPS Net loss per share ... was $0.02.

Period: the fourth quarter and year ended December 31, 2023
Revenue: $254.1 million
Net income: Net loss was $3.8 million
EPS: Net loss per share ... was $0.02
Result: reported results

Exact text from the filing

Dutch Bros Inc. Reports Fourth Quarter 2023 Financial Results Achieves $254 million in Revenue in Quarter, a 26% Increase Year-over-Year

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299 debt financings filed in the last 30 days. Browse all debt financings →

Dutch Bros Inc. filing history →

Source: SEC EDGAR

accession 0001866581-24-000032

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