---
schema_version: "secwatch.filing_event.v1"
accession: "0001866581-24-000032"
form_type: "8-K"
ticker: "BROS"
cik: "0001866581"
company_name: "Dutch Bros Inc."
filed_at: "2024-02-21T23:59:59+00:00"
generated_at: "2026-06-05T22:22:44.104071+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Dutch Bros Q4 revenue up 26% to $254M; system same-shop sales +5%; draws $150M; guides FY24 revenue $1.19-1.20B

## Summary
- 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.

## SEC filing metadata
- accession: 0001866581-24-000032
- form_type: 8-K
- ticker: BROS
- cik: 0001866581
- company_name: Dutch Bros Inc.
- filed_at: 2024-02-21T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1866581/000186658124000032/0001866581-24-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1866581/000186658124000032/bros-20240220.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001866581-24-000032
- JSON: https://secwatch.observer/filing/0001866581-24-000032.json
- Plain text: https://secwatch.observer/filing/0001866581-24-000032.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1866581/000186658124000032/0001866581-24-000032-index.htm
- Earnings Releases
  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
  source text: Dutch Bros Inc. Reports Fourth Quarter 2023 Financial Results Achieves $254 million in Revenue in Quarter, a 26% Increase Year-over-Year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1866581/000186658124000032/0001866581-24-000032-index.htm

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