Dutch Bros Inc. (BROS) Income Statement
BROS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBROS revenue and net income
Where BROS's revenue goes
2025Each bar shows an amount and its share of revenue. BROS kept 4.9% of revenue as net income.
BROS profit margins
BROS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +27.9% | +30.4% | +38.0% | — |
| Gross profit | +24.6% | +32.8% | +29.6% | — |
| Operating income | +51.9% | — | +71.1% | — |
| Net income | +126.5% | — | +69.4% | — |
| EPS (diluted) | +41.2% | +68.7% | +4.4% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BROS quarterly EPS vs estimates
Dutch Bros beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.22).
BROS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.64B | $1.28B | $965.8M | $739.0M | $497.9M | $327.4M | $238.4M |
| Cost of revenue | $1.21B | $940.9M | $714.5M | $558.1M | $344.6M | $211.5M | $142.3M |
| Gross profit | $423.9M | $340.1M | $251.3M | $180.9M | $153.3M | $115.9M | $96.1M |
| Sales, general & admin | $259.4M | $234.0M | $205.1M | $183.5M | $265.0M | $105.1M | $65.8M |
| Total operating expenses | $262.8M | $234.0M | $205.1M | $183.5M | $264.5M | $104.9M | $65.8M |
| Operating income | $161.2M | $106.1M | $46.2M | −$2.6M | −$111.2M | $11.0M | $30.3M |
| Interest expense | $28.3M | $27.0M | $32.3M | $18.0M | $7.1M | $3.7M | $2.3M |
| Income before taxes | $135.6M | $84.9M | $16.9M | −$16.7M | −$119.6M | $6.9M | $28.5M |
| Income taxes | $18.3M | $18.4M | $7.0M | $2.6M | −$1.6M | $1.2M | $89,000 |
| Net income | $79.8M | $35.3M | $1.7M | −$4.8M | −$12.7M | $5.7M | $28.4M |
| EBITDA | $279.1M | $204.9M | $118.4M | $46.1M | −$87.2M | $26.2M | $40.5M |
| EPS (diluted) | $0.72 | $0.51 | $0.24 | $0.15 | $0.91 | $0.58 | — |
| Gross margin | 25.9% | 26.6% | 26.0% | 24.5% | 30.8% | 35.4% | 40.3% |
| Operating margin | 9.8% | 8.3% | 4.8% | −0.4% | −22.3% | 3.4% | 12.7% |
| Net margin | 4.9% | 2.8% | 0.2% | −0.6% | −2.5% | 1.7% | 11.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $550.9M | $464.4M | $443.6M | $423.6M | $415.8M | $355.2M | $342.8M | $338.2M | $324.9M | $275.1M | $254.1M | $264.5M |
| Cost of revenue | $399.8M | $358.4M | $336.5M | $316.8M | $295.8M | $265.2M | $254.8M | $248.2M | $234.6M | $203.3M | $195.0M | $189.3M |
| Gross profit | $151.1M | $106.0M | $107.1M | $106.8M | $120.0M | $90.0M | $87.9M | $90.1M | $90.3M | $71.8M | $59.1M | $75.2M |
| Sales, general & admin | $80.7M | $73.2M | $71.9M | $64.4M | $65.4M | $58.9M | $72.2M | $57.5M | $58.1M | $46.2M | $56.9M | $50.5M |
| Total operating expenses | $80.7M | $70.1M | $73.2M | $65.3M | $65.4M | $58.9M | $72.2M | $57.5M | $58.1M | $46.2M | $56.9M | $50.5M |
| Operating income | $70.4M | $35.9M | $34.0M | $41.5M | $54.7M | $31.1M | $15.8M | $32.5M | $32.2M | $25.6M | $2.2M | $24.7M |
| Interest expense | $7.0M | $7.2M | $7.4M | $6.7M | $6.8M | $7.1M | $6.8M | $6.9M | $7.0M | $6.4M | $6.1M | $9.3M |
| Income before taxes | $64.2M | $27.0M | $31.1M | $34.9M | $45.6M | $23.9M | $7.5M | $26.4M | $26.0M | $25.0M | −$3.1M | $15.2M |
| Income taxes | $12.6M | $3.3M | $2.0M | $7.7M | $7.2M | $1.5M | $1.1M | $4.7M | $3.9M | $8.8M | $708,000 | $1.8M |
| Net income | $37.4M | $16.1M | $21.4M | $17.5M | $25.6M | $15.4M | $3.6M | $12.6M | $11.9M | $7.1M | −$1.4M | $4.2M |
| EBITDA | $105.0M | $50.6M | $70.3M | $70.7M | $73.5M | $57.5M | $39.8M | $57.2M | $55.4M | $52.6M | $22.7M | $42.7M |
| EPS (diluted) | $0.28 | $0.16 | $0.17 | $0.15 | $0.26 | $0.14 | $0.07 | $0.16 | $0.19 | $0.09 | $0.04 | $0.14 |
| Gross margin | 27.4% | 22.8% | 24.1% | 25.2% | 28.9% | 25.3% | 25.7% | 26.6% | 27.8% | 26.1% | 23.3% | 28.4% |
| Operating margin | 12.8% | 7.7% | 7.7% | 9.8% | 13.1% | 8.7% | 4.6% | 9.6% | 9.9% | 9.3% | 0.9% | 9.3% |
| Net margin | 6.8% | 3.5% | 4.8% | 4.1% | 6.2% | 4.3% | 1.1% | 3.7% | 3.7% | 2.6% | −0.6% | 1.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BROS's financial statements (latest annual report filed February 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BROS financial results
In fiscal year 2025 (ended December 31, 2025), Dutch Bros reported revenue of $1.6 billion, up 27.9% from the year before. It had net income of $79.8 million (up 126.5%), a net profit margin of 4.9%. Diluted earnings per share came to $0.72. Over five years revenue grew at an average rate of 38.0% a year.
See the BROS stock overview for the latest quote and news, or the BROS chart for price history and technical indicators.
BROS income statement FAQ
What is Dutch Bros's annual revenue?
Dutch Bros reported total revenue of $1.6 billion for fiscal year 2025, which ended on December 31, 2025. That was up 27.9% from $1.3 billion the previous year.
Is Dutch Bros profitable?
Yes. Dutch Bros reported net income of $79.8 million in fiscal 2025, a net profit margin of 4.9%; its operating margin was 9.8%.
What is Dutch Bros's gross margin?
Dutch Bros's gross margin was 25.9% in fiscal 2025: for every $100 of revenue, Dutch Bros kept $26 after the direct cost of its products and services.
How fast is Dutch Bros growing?
Revenue grew 38.0% a year on average over the last five fiscal years, from $327.4 million to $1.6 billion.
What are Dutch Bros's earnings per share?
Dutch Bros earned $0.72 per diluted share in fiscal 2025, compared with $0.51 a year earlier.
When will Dutch Bros report its next earnings?
Dutch Bros is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Dutch Bros's fiscal year end?
Dutch Bros's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 13, 2026.