Dutch Bros Q2 revenue up 28% to $415.8M, raises full-year guidance

Dutch Bros Inc.

2025-Q2 EPS reported $0.33 revenue$770,965,000

Total revenue $415.8M (+28% YoY); system same shop sales +6.1%, company-operated +7.8%.
Net income $38.4M ($0.20 diluted EPS) vs $22.2M a year ago; adjusted EBITDA $89.0M (+36.6%).
Adjusted diluted EPS $0.26 vs $0.19; company-operated transaction growth of 5.9% drove same-shop gains.
Opened 31 new shops in Q2 (30 company-operated); full-year target of at least 160 openings unchanged.
Raised 2025 guidance: revenue $1.59-$1.60B, same shop sales ~4.5%, adjusted EBITDA $285-$290M.

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