Dutch Bros reports strong Q1 2025 growth, raises outlook amid robust sales and shop expansion plans
Dutch Bros sees Q1 2025 revenue surge over 29%, with solid traffic and sales gains prompting higher full-year financial projections.
USA – Dutch Bros Inc. has reported significant year-on-year growth in its first-quarter 2025 results, positioning itself among the fastest-growing brands in the U.S. quick service restaurant (QSR) industry.
Revenue for the quarter reached US$355.2 million, marking a 29.1% increase compared to the same period in 2024. The company posted same-store sales growth of 4.7%, while customer traffic rose by more than 1%.
Net income increased to US$22.5 million, or 13 cents per share, from US$16.2 million, or eight cents per share, in the previous year’s first quarter.
Company-operated shop revenues rose 31.6% to US$326.4 million, contributing to a gross margin of 29.1% and resulting in gross profits of US$71.5 million. Adjusted EBITDA increased 19.7% year-over-year to US$62.9 million.
President and CEO Christine Barone stated that the company is well-positioned to maintain this momentum throughout 2025 and beyond. “Our business continues to operate from a position of strength,” Barone said.
“The enthusiasm for our brand, the loyalty of our customers, the passion of our team, and a clear vision for the future give us great confidence.”
Barone emphasized that Dutch Bros’ consistent resonance with its customer base and a solid growth roadmap are expected to sustain long-term progress.
Chief Financial Officer Josh Guenser added that the company’s strong first-quarter performance supports expectations of reaching the top end of its previously communicated financial targets.
“We are optimistic about our ability to navigate evolving macroeconomic conditions with robust four-wall economics and excellent cash-on-cash returns,” Guenser said.
Dutch Bros now expects total revenues for 2025 to range between US$1.555 billion and US$1.575 billion. Same-store sales growth is projected between 2% and 4%, while adjusted EBITDA is forecast to fall between US$265 million and US$275 million.
The company anticipates at least 160 new shop openings during 2025. Capital expenditures are expected to range between US$240 million and US$260 million, supporting ongoing expansion and infrastructure development.
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