Dutch Bros Inc (NYSE: BROS) is a beverage retail company that operates and franchises drive-thru coffee and drink shops across the United States. Revenue is generated through direct sales at company-operated shops and fees from franchised locations. The company trades on the New York Stock Exchange under the ticker BROS and is incorporated in Delaware. Dutch Bros was co-founded by Travis Boersma, who retains voting control through affiliated entities as of the FY2025 10-K filed February 13, 2026. The business tracks performance using Average Unit Volume, defined as net sales over a trailing twelve-month period for systemwide and company-operated shops open a minimum of 15 months. The filing references both company-operated and franchised shop formats operating under the Dutch Bros brand.

Revenue model

Dutch Bros generates revenue through net sales at company-operated drive-thru shops and through fees and royalties from franchised shop operators. The filing references systemwide shop performance metrics, indicating a dual company-operated and franchise revenue structure.

Products and services

Drive-thru coffee and beverage drinks sold under the Dutch Bros brand. The filing does not specify individual product lines or SKUs in the excerpts provided.

Customers and end markets

Retail beverage consumers purchasing drinks at drive-thru shop locations. No customer concentration data is disclosed in the provided excerpts.

Value-chain role

Operator and franchisor of drive-thru beverage retail shops. Dutch Bros sits at the consumer-facing end of the beverage retail value chain, acting as both direct retailer and franchise licensor.

Geographic exposure

United States. The filing does not specify individual states or regions in the provided excerpts.

Source: SEC 10-K, filed 2026-02-13

Industry: Retail-Eating & Drinking Places Peers: Aramark Cracker Barrel Old Country Store Inc Darden Restaurants Inc Domino's Pizza Inc McDonald's Corp Papa John's International Inc Texas Roadhouse Inc Yum! Brands Inc Wendy's Co Wingstop Inc