Highest-materiality recent filing
Total 458.5M votes cast (~95.2% of voting power); all nine director nominees elected with strong support.
Dutch Bros annual meeting elects nine directors, ratifies auditor, approves exec comp
All nine director nominees elected with majority votes; notable dissent votes against Boersma (19.2M), Miller (37.1M), Gillett (34.9M), Penegor (36.2M).
Dutch Bros Q1 revenue up 31% to $464M; raises full-year guidance across all metrics
Net income $23.7M vs $22.5M YoY; Adjusted EBITDA $79.4M, +26.2%.
Q4 total revenues $443.6M (+29.4% YoY); net income $29.2M vs $6.4M prior year.
Dutch Bros Q3 revenue +25% to $423.6M; raises FY revenue and SSS guidance
Q3 revenue $423.6M (+25.2% YoY); net income $27.3M vs $21.7M; diluted EPS $0.14.
Dutch Bros Q2 revenue up 28% to $415.8M, raises full-year guidance
Total revenue $415.8M (+28% YoY); system same shop sales +6.1%, company-operated +7.8%.
Dutch Bros amends and restates $650M credit facility, draws $200M on closing
New $650M facility: $500M revolver + $150M term loan; matures May 29, 2030.
Dutch Bros President of Operations Sumitro Ghosh to depart June 2; role eliminated
President of Operations Sumitro Ghosh's service ends June 2, 2025; position eliminated.
Dutch Bros names Nicholas Daddario as principal accounting officer; salary $350k, equity awards
Nick Daddario designated as principal accounting officer effective May 13, 2025; he joined as CAO in January 2025.
Dutch Bros Q1 revenue up 29% to $355M; same-shop sales +6.9%; FY guidance trending to top half
Revenue $355.2M (+29.1% YoY); net income $22.5M, diluted EPS $0.13.
Dutch Bros appoints e.l.f. Beauty CMO Kory Marchisotto to Board of Directors
Kory Marchisotto appointed as independent director, effective February 18, 2025.
Dutch Bros Q4 revenue up 35% to $342.8M; net income $6.4M vs loss; guides 2025 rev $1.555-1.575B
Q4 system same-shop sales +6.9%, company-operated +9.5%; transaction growth +2.3% (largest in 2+ years).
Dutch Bros draws $50M delayed term loan; CEO Barone gets compensation boost
Draws $50M on delayed draw term loan before Feb 4, 2025 expiry; no amounts left after.
Dutch Bros plans 1,000th shop in Feb 2025 and first Investor Day in March
Plans to open 1,000th shop in February 2025 in the Orlando market, marking a growth milestone.
Dutch Bros Q3 revenue $338M (+28% YoY); raises FY24 revenue & EBITDA guidance
Revenue $338.2M (+28% YoY); net income $21.7M ($0.11 diluted EPS); adjusted EPS $0.16.
Dutch Bros Q2 revenue rises 30% to $324.9M; raises FY revenue and EBITDA guidance
System same-shop sales +4.1%; company-operated same-shop sales +5.2%.
Dutch Bros appoints former Wendy's CEO Todd Penegor to Board of Directors
Todd Penegor, former President and CEO of The Wendy's Company, appointed as independent director effective June 24, 2024.
Dutch Bros secondary offering of 8.76M shares closes; sponsor voting power drops to 1.1%
Selling stockholders sold 8,762,700 Class A shares at $39.30/share; company receives no proceeds.
Dutch Bros appoints restaurant veteran G.J. Hart to Board as independent director
Gerard J. Hart appointed to Dutch Bros Board as independent director and Chair of Compensation Committee, effective June 3, 2024.
Dutch Bros co-founder entities surrender 23M Class B shares, cap individual voting at <50%
Co-Founder Entities surrendered 23,000,000 shares of Class B Common Stock, which were cancelled.
Dutch Bros Q1 revenue +39% to $275M, same-shop sales +10%; raises FY guidance
Revenue $275.1M (+39.5% YoY); system same-shop sales +10.0%; net income $16.2M vs ($9.4M) loss.
Dutch Bros appoints Sumitro Ghosh as President of Operations; Brian Maxwell named Vice Chair
Brian Maxwell transitions from executive officer to newly created Vice Chair role, effective April 1, 2024.
Dutch Bros: Sponsor secondary offering of 8M shares at $34; director resigns
Director Blythe Jack resigned March 22, 2024; board reduces to one Class C director after share threshold drop.
Dutch Bros secondary offering of 8M shares by TSG affiliates at $29.05/share
Selling stockholders (TSG affiliates) selling 8,000,000 shares of Class A common stock at $29.05 per share.
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%).
Dutch Bros plans relocation of ~40% support staff to Phoenix; expects $24M-$31M charges
Estimated aggregate charges of $24M-$31M for relocation, retention, transition, and termination benefits.
Opened 159 new shops in 2023 (146 company-operated); total system 831 shops in 16 states.
Dutch Bros CEO Joth Ricci resigns Dec 31, 2023; Christine Barone becomes CEO Jan 1, 2024
Joth Ricci resigned as CEO and board member effective Dec 31, 2023; no disagreement with company.
Dutch Bros Q3 revenue +33% to $265M; raises FY adj. EBITDA guidance to $150-155M
Revenue $264.5M (+33.2% YoY); net income $13.4M vs $1.6M; adj. EPS $0.14 vs $0.09.
Dutch Bros prices 11.5M-share offering at $26/shr, gross proceeds ~$300M
Offering of 11,538,461 shares of Class A common stock at $26.00 per share; underwriters have 30-day option for up to 1,730,769 additional shares.
Dutch Bros Q2 revenue up 34% to $250M; raises FY EBITDA guidance; CEO succession
Q2 revenue $249.9M (+34% YoY); net income $9.7M vs $(1.8M) loss; adj. EBITDA $48.6M (+103%).
Dutch Bros clarifies Texas shop AUV range; reports systemwide 2022-23 shop AUV of $1.7M
Systemwide AUV for shops opened in 2022-23 is ~$1.7 million as of March 31, 2023.
Dutch Bros annual meeting elects all directors, ratifies auditor, adopts 1-year say-on-pay frequency
All 8 directors elected with 96.8%-97.6% support; Blythe Jack and Charles Esserman elected by Class C with 100%.
Dutch Bros Q1 revenue up 30% to $197.3M, net loss narrows; record 45 shop openings
Revenue grew 29.6% to $197.3M; net loss improved to $9.4M from $16.3M YoY.
Dutch Bros Q4 revenue $201.8M (+44%), net loss $(2.8)M; FY revenue $739M; 2023 guidance issued
Q4 2022 total revenues $201.8M (+44.1% YoY); net loss $(2.8)M vs $(8.2)M loss in Q4 2021.
Dutch Bros amends 2023 outlook: at least 130 company-operated shops; Q4 same-shop sales down 2.1%
Preliminary Q4 system same-shop sales declined (0.6%); company-operated down (2.1%).
Dutch Bros reports 133 new shops in 2022; guides FY2023 revenue $950M-$1B
Opened 133 systemwide shops in 2022 (120 company-operated); total shops 671 as of Dec 31, 2022.
Dutch Bros names Christine Barone as President; start date Feb 6, 2023
Christine Barone, former CEO of True Food Kitchen and ex-Starbucks exec, becomes President.
Dutch Bros reports Q3 2022 results: revenue $198.6M, opens 38 shops, raises FY revenue guidance
Revenue increased 53% year-over-year to $198.6 million, beating expectations.
Dutch Bros appoints NIKE EVP & Chief Legal Officer Ann Miller to board
Ann Miller appointed to board effective August 22, 2022, filling a vacancy.
Dutch Bros Q2 net loss $1.8M vs $11.9M profit year ago; revenue up 44% to $186.4M
System same-shop sales declined 3.3% vs 2021, but improved sequentially to (0.9)% in July.
Dutch Bros shareholders elect all director nominees; ratify KPMG as auditor for FY2022
All six director nominees (Boersma, Broader, Davis, George, Gillett, Ricci) elected with over 97% of votes cast.
Dutch Bros Q1 revenue up 54% to $152.2M, net loss widens to $16.3M; raises 2022 shop target to 130+
Total revenues $152.2M (+54% YoY); company-operated shop revenue $130.2M (+67.1%).
Dutch Bros Q4 revenue rises 55.8% to $140.1M; guides to 125+ shop openings in 2022
Q4 2021 revenue $140.1M (+55.8% YoY); net loss $(9.8)M vs $(6.2)M loss a year ago.
Opened 98 shops in 2021 (vs guidance of 92); 2022 target raised to 125 from prior 112.
Dutch Bros appoints Stephen Gillett to Board of Directors
Appointed to Board and Audit & Risk Committee effective December 11, 2021.
Dutch Bros enters new employment agreements with CEO and CFO, outlining base salaries and bonuses
CEO Jonathan Ricci gets $550K base salary + $500K cash bonus for 2021.
Dutch Bros Q3 revenues up 49.8% to $129.8M; net loss $117.1M on IPO comp charge
Company-operated shops revenue rose 62.9% to $108.7M; system same-shop sales grew 7.3%.
Dutch Bros Q3 revenue up 49.8% to $129.8M; net loss $117.1M on IPO comp, adj. net income $11.0M
Total revenue $129.8M (+49.8% YoY); company-operated shop revenue $108.7M (+62.9%).
Dutch Bros closes IPO; issues 71M+ shares of multiple classes; adopts new charter and equity plan
Issued 43,477 Class A, 71,408,045 Class B, 71,122,983 Class C, and 17,036,337 Class D shares in connection with IPO and Reorganization.
On May 21, 2025 Dutch Bros Inc. (the “Company”) determined that the service of Sumitro Ghosh as the President of Operations of the Company will conclude effective June 2, 2025, and the Company will thereafter eliminate the role of President of Operations.
Effective May 13, 2025, the Board of Directors (the “Board”) of the Dutch Bros Inc. (the “Company”) designated Nicholas Daddario as the Company’s principal accounting officer.
appointed Kory Marchisotto to fill the resulting vacancy on the Board and to serve as a member of the Board until the Company’s 2025 annual meeting of stockholders and until her successor has been duly elected and qualified, or until her earlier death, resignation, or removal.
Effective June 24, 2024, the Board of Directors (the “Board”) of Dutch Bros Inc., a Delaware corporation (the “Company”) appointed Todd Penegor to fill a vacancy on the Board and to serve as a member of the Board until the Company’s 2025 annual meeting of stockholders and until his successor has been duly elected and qualified, or until his earlier death, resignation, or removal.
Upon the closing of the Offering and the resulting reduction in the outstanding shares of Class C common stock and Class D common stock, on June [12], 2024, Sean Sullivan, who served as the remaining Class C Director, resigned from the Board in accordance with the Certificate of Incorporation and the Stockholders Agreement.
Effective June 3, 2024, the Board of Directors (the “Board”) of Dutch Bros Inc., a Delaware corporation (the “Company”) appointed Gerard J. Hart to fill a vacancy on the Board and to serve as a member of the Board until the Company’s 2025 annual meeting of stockholders
the Board of Directors of the Company appointed Joshua Guenser as the Company’s Chief Financial Officer.
Charles Jemley, the Company’s current Chief Financial Officer, will simultaneously transition into the role of Strategic Advisor, and will no longer be an executive officer of the Company following Mr. Guenser’s appointment.
the Board of Directors of Dutch Bros Inc., a Delaware corporation (the “Company”), appointed Brian Maxwell to the newly created role of Vice Chair
On March 22, 2024, Blythe Jack, who served as one of the two Class C Directors, resigned from the Board.
Sumitro Ghosh will join the Company as Incoming President of Operations on or about January 15, 2023 in concert with Brian Maxwell’s planned change from his current role as Chief Operating Officer to Vice Chairman.
Charley Jemley’s planned departure from his current role as Chief Financial Officer.
Max materiality 0.90 · Median 0.68 · Most common event earnings