Dutch Bros Inc. reported a 29.8% year-over-year revenue increase for the third quarter of 2026, driven by the opening of 48 new shops and sustained digital loyalty. While revenue exceeded expectations, system-wide same-shop sales growth of 4.4% slightly missed the consensus estimate, and the company adjusted its full-year EBITDA outlook.
Key Highlights
- Total revenue reached $549.8 million, beating the $548.3 million estimate behind aggressive footprint expansion to 1,273 total locations.
- System-wide same-shop sales grew 4.4%, compared to the 4.7% consensus, while company-operated locations performed better at 5.4% growth.
- Adjusted EBITDA grew 29.6% to $101.1 million, though the company now expects a full-year 2026 adjusted EBITDA of approximately $380 million, slightly below previous expectations.
- Digital engagement remains a core pillar, with Dutch Rewards members contributing 74% of total customer visits during the quarter.