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Dutch Bros’ $464 Million Quarter — Why Same-Store Sales Momentum Matters!

Dutch Bros, Inc. reported a first quarter of 2026 that surpassed expectations, driven by strong same-shop sales growth, transaction momentum, and successful strategic initiatives. Total revenues increased by 31% year-over-year to $464 million, with adjusted EBITDA rising 26% to $79 million. Company-operated shops contributed $121 million in profit at a margin of 28.3%. The company opened 41 new shops in the quarter, including seven conversions of Clutch Coffee Bars, with productivity at new locations in line with system-wide average unit volumes (AUVs), which themselves reached a record $2.2 million. Same-store sales grew 8.3% system-wide, with Texas—a key market—delivering nearly 20% comp growth for the quarter, reflecting the benefits of market densification, branding efforts, and strong execution. Transaction growth extended to a seventh consecutive quarter, primarily fueled by innovations in the customizable beverage platform, including a successful rollout of a new food program now present in 485 shops.