Dutch Bros Sets Sights on Continued Growth as Revenue Surges 33% in 2024

Dutch Bros, Inc., a leading quick-service restaurant chain, reported outstanding revenue growth of 33% in 2024, driven by a healthy balance of new shop openings and same-store sales growth. The company's adjusted EBITDA grew 44%, with strength in its four-wall profit and continued adjusted SG&A leverage.

During the fourth quarter of 2024, Dutch Bros saw substantial momentum across the board, with a 6.9% same-shop sales growth and largest quarterly transaction growth since 2022. Company-operated same-store sales grew 9.5%, with a notable increase in mobile order volume, which contributed to the company's benefits.

The company also reported strong performance from its holiday favorite limited-time offers (LTOs), Hazelnut Truffle Mocha and Candy Cane Mocha. The Candy Cane Mocha platform saw almost 40% more total units sold compared to last year's run, demonstrating the effectiveness of Dutch Bros' marketing efforts.

"Dutch Bros' future has never looked brighter," said Christine Barone, CEO and President. "We see an increasing relevance of customized energy occasions, which has been core to our menu for over a decade. We also see the continued importance of genuine connection embodied by our bruises and a cornerstone of Dutch Bros for the last 33 years."

Dutch Bros' real estate strategy is working, with strong new shop productivity resulting from its shifted development focus and elevated site selection process. The company opened 32 new shops in the quarter, translating to outstanding financial results.

With a strong pipeline of new shops planned for 2025, Dutch Bros is poised for continued growth and success in the competitive quick-service restaurant market.