Every material Form 8-K Dutch Bros filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Dutch Bros reported third-quarter 2025 results on November 5, 2025, with total revenue up 25.2% to $423.6 million and net income of $27.3 million, compared with $21.7 million a year earlier. The company raised its full-year 2025 total revenue guidance to between $1.61 billion and $1.615 billion, while its Adjusted EBITDA guidance of $285 million to $290 million was unchanged.
Q3 2025 total revenue rose 25.2% to $423.6 million from $338.2 million; diluted EPS was $0.14 versus $0.11
Systemwide same shop sales rose 5.7%, with transactions up 4.7%; the company says the trend continued through October
2025 total revenue guidance raised to $1.61 billion to $1.615 billion; same shop sales growth now expected at about 5%
Company-operated shops gross margin was 21.0%, down 120 basis points year over year
Dutch Bros reported second-quarter 2025 results on August 6, 2025, with total revenues up 28.0% year over year to $415.8 million and net income of $38.4 million, compared with $22.2 million a year earlier. The company also raised its full-year 2025 guidance for total revenues, same shop sales growth and adjusted EBITDA.
Total revenues rose 28.0% to $415.8 million from $324.9 million in Q2 2024.
Diluted net income per share was $0.20, compared with $0.12 a year earlier.
2025 guidance now calls for total revenues of $1.59 billion to $1.60 billion and adjusted EBITDA of $285 million to $290 million.
Same shop sales growth guidance is now approximately 4.5%; the company opened 31 new shops in Q2.
Dutch Bros subsidiaries entered into an amended and restated $650 million senior secured credit facility with JPMorgan Chase Bank, N.A. as administrative agent, effective May 29, 2025, which replaces the 2022 facility. The new facility expires May 29, 2030, and on the effective date the borrowers drew the full $150 million term loan and $50 million in revolving loans. The facility includes leverage and coverage covenants and restrictions on additional debt, liens, acquisitions, and restricted payments, which shareholders may want to track.
Replaces the 2022 Credit Facility, which was repaid and terminated, with a facility expiring May 29, 2030.
Provides up to $650 million in credit: a $500 million revolving facility and a term loan of up to $150 million.
On May 29, 2025, the Loan Parties drew the full $150 million term loan and $50 million in revolving loans.
Quarterly commitment fee of 0.20% to 0.45% on unused revolver capacity; accordion option of up to the greater of $230 million or 80% of EBITDAR.
Dutch Bros said its President of Operations, Sumitro Ghosh, will leave the company effective June 2, 2025, and the role will be eliminated. Ghosh is eligible for severance under the company's existing severance and change in control plan, as described in its March 31, 2025 proxy statement.
Sumitro Ghosh's service as President of Operations concludes effective June 2, 2025.
The company will eliminate the President of Operations role after his departure.
Ghosh is eligible for severance benefits under the Amended and Restated Severance and Change in Control Plan.
Dutch Bros designated Nicholas Daddario as its principal accounting officer, effective May 13, 2025, after he served as Chief Accounting Officer since January 2025. At the May 13 annual meeting, shareholders elected all ten director nominees and ratified KPMG LLP as auditor, and approved executive pay on an advisory basis.
Daddario, age 56, has a base salary of $350,000 and a target annual cash bonus of 45% of base salary
Equity awards include a one-time restricted stock unit grant of $150,000 and an eligible annual grant of $300,000
Ten directors were elected, including Travis Boersma and Christine Barone; KPMG LLP was ratified for fiscal 2025 with 443,279,090 votes for
Approximately 92.8% of voting power was represented at the May 13, 2025 annual meeting
Dutch Bros reported first quarter 2025 total revenues of $355.2 million, up 29.1% from $275.1 million a year earlier, and net income of $22.5 million versus $16.2 million. The company said 2025 total revenues, system same shop sales growth and adjusted EBITDA are trending toward the top half of the ranges it gave last quarter, which points to stronger expected results for shareholders.
Q1 2025 total revenues rose 29.1% to $355.2 million from $275.1 million
Diluted net income per share was $0.13 versus $0.08; adjusted EBITDA grew 19.7% to $62.9 million
Company-operated shops contribution margin was 29.4%, down 40 bps year over year
2025 guidance: total revenues $1.555 billion to $1.575 billion; adjusted EBITDA $265 million to $275 million, now trending toward the top half
Dutch Bros Inc. appointed Kory Marchisotto, Chief Marketing Officer of e.l.f. Beauty, to its Board of Directors effective February 18, 2025, filling a vacancy created when the board expanded to ten members. The board determined she is independent under NYSE rules, and the filing reports no related-party transactions requiring disclosure.
Board increased to ten members on February 13, 2025; Marchisotto appointed effective February 18, 2025, to serve until the 2025 annual meeting
Marchisotto has served as Senior Vice President and Chief Marketing Officer of e.l.f. Beauty since 2019
She will receive director cash retainers and equity grants under the company's Director Compensation Policy, and the company entered its standard indemnification agreement with her
Dutch Bros reported fourth-quarter 2024 revenue of $342.8 million, up 34.9% from a year earlier, and net income of $6.4 million, compared with a net loss of $3.8 million in the same period of 2023. The company also gave initial 2025 guidance of $1.555 billion to $1.575 billion in total revenue and $265 million to $275 million in Adjusted EBITDA, which it says reflects elevated coffee costs.
Q4 2024 total revenues rose 34.9% to $342.8 million; diluted EPS was $0.03 versus $(0.02) a year earlier.
Full-year 2024 revenues were $1.28 billion, up 32.6%, and net income was $66.5 million versus $10.0 million in 2023.
2025 guidance: total revenues of $1.555 billion to $1.575 billion; Adjusted EBITDA of $265 million to $275 million; at least 160 shop openings; same shop sales growth of 2% to 4%.
Dutch Bros subsidiaries notified JPMorgan Chase Bank that they will draw $50 million on the delayed draw term loan on February 4, 2025, to use the funds before that portion expires, with proceeds for general corporate purposes including building new shops. The company also revised CEO Christine Barone's compensation, raising her base salary to $850,000 and setting a target bonus of 110% of salary, which matters to shareholders because it adds debt and changes executive pay.
$50 million draw on the delayed draw term loan, scheduled for February 4, 2025
After the draw, no amounts remain available under the delayed draw term loan; facility matures February 28, 2027
Barone's base salary increased to $850,000, with target bonus of 110% and maximum of 220% of salary, effective January 1, 2025
Annual restricted stock unit award with a value of $3,000,000, with 50% vesting over three years and 50% vesting on the third anniversary subject to performance conditions
Dutch Bros announced it plans to open its 1,000th shop in February 2025, in the Orlando market, and will hold its first Investor Day on March 27, 2025, in Phoenix. The filing contains no financial results, so the announcement gives shareholders milestone and event information rather than new performance data.
The 1,000th shop is expected to open in February 2025 in the Orlando market; the company had 982 locations across 18 states as of December 31, 2024.
Investor Day is set for Thursday, March 27, 2025, from 8:00 a.m. to 2:00 p.m. Pacific Time in Phoenix, AZ, with a webcast available.
CEO Christine Barone and senior leadership are scheduled to present, followed by a question-and-answer session.
The company will also hold a fireside chat at the 27th Annual ICR Conference on Tuesday, January 14, 2025, at 9:00 AM Eastern time.
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Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Dutch Bros filing is on SEC EDGAR ↗. 8-K briefs of other companies →