Dutch Bros to open ‘at least’ 180 sites in 2026 on heels of ‘record-breaking’ year
Dutch Bros delivered its 19th consecutive year of positive same-store sales growth and reported fourth-quarter revenue and earnings that easily topped expectations.
The fast-growing drive-thru coffee chain continued its expansion during the quarter, opening 55 locations. For the full year, Dutch Bros opened 154 new shops across 22 states, giving it a total of 1,136 locations across 25 states.
The chain is accelerating its expansion in 2026, with plans to open “at least” 180 new sites. Dutch Bros CFO Josh Guenser said the company’s confidence in reaching its goal of 2,029 shops in 2029 has never been higher, “as we expanded our footprint into seven contiguous states while delivering record AUVs of $2.1 million in 2025.”
Dutch Bros’ net income rose to $29.2 million in the quarter ended Dec. 31, compared to $6.4 million in the year-ago period. Adjusted earnings per share totaled $0.17, topping analysts' estimates of $0.10 per share.
Total revenues rose 29.4% to $443.6 million. Analysts had expected revenue of $424.7 million.
Systemwide same-shop sales increased 7.7%. Transactions increased 5.4%.
The company reported adjusted EBITDA growth of 49% for the quarter, which significantly outpaced topline momentum “and enabled continued investment in out people and the initiatives driving out growth,“ said CEO Christine Barone.
For the full year, Dutch Bros reported that its total revenues grew 27.9% to $1.64 billion. Net income totaled $117.3 million, compared to $66.5 million in 2024.
“The results of our fourth quarter and full year 2025 show that five years into our journey as a public company, Dutch Bros not only delivered a record-breaking year, but reinforced our well-defined path of sustainable, profitable growth,” said Barone. "This continued growth is a powerful testament to our culture, proving that the playbook of authentic human connection, industry-leading innovation, and incredible depth in field leadership is the ultimate engine for scaling this business. We believe we have the right energy and the right strategy to continue winning market share for years to come.”
