Dutch Bros starts 2026 with 31% revenue jump, raises guidance

Dutch Bros opened 2026 with a surge in sales and a faster store rollout, reporting first-quarter revenue of $464.4 million, up 30.8% from $355.2 million a year earlier. The chain opened 41 new shops in the quarter, including 33 company-operated locations, while systemwide same shop sales rose 8.3% and systemwide same shop transactions climbed 5.1%.

The traffic picture was even stronger inside Dutch Bros’ owned stores. Company-operated same shop sales increased 10.6% and company-operated same shop transactions rose 6.9%, showing that the growth was not coming only from new openings. Net income edged up to $23.7 million from $22.5 million in the prior-year period, while adjusted EBITDA jumped 26.2% to $79.4 million.

Christine Barone said the quarter marked Dutch Bros’ seventh consecutive quarter of transaction growth, with strength showing across existing and new markets, across dayparts and across customer segments. For a drive-thru brand built on speed and repeat visits, that matters as much as the revenue number itself. Dutch Bros is not just adding doors; it is still convincing customers to come back often enough to keep traffic rising as the system gets bigger.

Josh Guenser said the company raised guidance because of the strong first quarter and performance seen into the second quarter. Dutch Bros now expects 2026 revenue of $2.05 billion to $2.08 billion, same shop sales growth of 4% to 6%, adjusted EBITDA of $370 million to $380 million, and at least 185 total system shop openings this year.

That outlook lands in a market that is still expanding but getting harder to stand out in. World Coffee Portal estimated the U.S. branded coffee shop market at $58.5 billion, up 4.2% over the past year to 45,227 outlets across 588 brands, with Dutch Bros and 7 Brew each adding more than 100 sites over the last 12 months. Dutch Bros, founded in 1992 by Dane and Travis Boersma in Grants Pass, Oregon, said it had 1,136 locations across 25 states as of December 31, 2025.

The chain’s latest investor materials add another clue about how it plans to keep scaling: Dutch Rewards accounted for about 72% of 2025 transactions, and order-ahead is now available in most shops. That combination of loyalty, digital ordering and drive-thru throughput points to a broader shift in coffee buying, one where speed and convenience are becoming just as important as the drink itself.