Dutch Bros. Coffee is expanding into San Antonio with five new locations this year, adding to three existing locations that opened in 2021. Spokane area Dutch Bros locations are all owned by former State Representative and well known local businessman Kevin Parker. In addition to historical information, this release contains a number of "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Weighted-average shares and net loss per share of Class A and Class D common stock on a diluted basis is applicable only for the period September 14, 2021 through December 31, 2021, which is the period effective with and following the IPO and Reorganization Transactions. Francesca is a freelancer covering the D-FW suburbs. It will be open until 11 p.m. BAKERSFIELD, Calif. (KGET) A new Dutch Bros Coffee location is expected to open in the Rosedale area this fall, according to a company representative. That location was demolished recently following a severely damaging truck accident. Welcome to Dutch Bros! Adjusted EBITDA5, a non-GAAP financial measure, increased 8.4% to $91.2 million6 as compared to $84.1 million4 in 2021. spot, a spokesperson said. WebNew Dutch Bros. location planned near Wanderemere, with indoor seating Work is underway for a new Dutch Bros. Coffee location in North Spokane. Chipotle Mexican Grill adds a TikTok favorite to its digital-only menu investors@dutchbros.com System same shop sales2 grew 1.0%, inclusive of the impact of our fortressing strategy, which results in sales being transferred from existing shops to new ones, as compared to 2021 and 11.4% on a 3-year stacked basis3. A relatively new Starbucks is operating nearby at 4104 Riverdale Road, where Riverdale Road meets 300 West. Costs related to two separate programs established to support employees during the COVID-19 pandemic. 3:20 PM Nov 11, 2021 CST 2021 was also the year we converted customers from a long-standing, paper-based stamp card loyalty program to the Dutch Bros app, which grew to 3.2 million members. (203) 682-8208 So it looks like more caffeine-seeking consumers than ever may be able to order off ofDutch Bros' famous secret menunext year. Five new Dutch Bros. Coffee locations are slated to open in San Antonio this year. The first San Antonio location will open on 8614 Potranco Rd. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Dutch Bros control that could cause actual results to differ materially from the results discussed in the forward-looking statements, including those related to general economic conditions, commodity inflation, increased labor costs, disruptions in our supply chain, ability to hire and retain employees, the ongoing COVID-19 pandemic, and other risks, including those described under the heading "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 filed with the SEC on November 10, 2022 and in our future reports to be filed with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2022. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. AUVs are calculated by dividing the net sales by the total number of systemwide and company-operated shops, respectively. See terms and apply now Earn up to 5x points when you use your eBay Mastercard.Learn more Report this item About this item In addition to moving east, we are excited about further expansion in existing markets, including Southern California, a market we believe will be a significant growth driver. Published on March 1, 2023 at 12:41 am by Insider Monkey Transcripts in News, Transcripts. Net cash flows provided by operating activities, Net cash flows used in investing activities, Net cash provided by financing activities, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Prepaid expenses and other current assets, Current portion of tax receivable agreements liability, Current portion of capital lease obligations, Tax receivable agreements liability, net of current portion, Capital lease obligations, net of current portion, Total stockholders' equity attributable to Dutch Bros Inc. / members equity, (in thousands, except number of shops data; unaudited), Company-operated shop gross profit as a % of, Company-operated shop contribution as a % of. Company-operated shop contribution5, a non-GAAP financial measure, grew 53.1% to $157.6 million as compared to $103.0 million4 in 2021. March 01, 2023 6:00 AM. Dutch Bros. would be the latest corporate coffee chain to set up shop in Concord, which already has seven Starbucks. He also confirmed this location will be the first in the Spokane market to have a lobby with indoor seating. Google App. The first San Antonio location will open on 8614 Potranco Rd. Company-operated same shop sales grew 0.6%, inclusive of the impact of our fortressing strategy, as compared to 2021 and 10.4% on a 3-year stacked basis3. They opened their first pushcart in Grants Pass, Oregon, in an attempt to move on from their familys failing dairy farm. Year-over-year, company-operated shop margins decreased 90 bps. Is this peppy sugar factory the type of coffee shop we deserve in 2021? The number of shops included in the systemwide and company-operated comparable bases for the respective periods are presented in the following table. On ExpressNews.com: St. Marys Strip-area Cambodian restaurant closed for good, Its always been a dream for my husband and I to bring Dutch Bros. to San Antonio, Ashley Fuller, the operator of Dutch Bros. San Antonio, said in a statement. The new Dutch Bros location in Pleasant Grove, Utah. Updated They also dont take themselves too seriously: Their founder is a flip-flop wearing bro-dude who says rad a lot, and they sell cotton candy milkshakes and electric red caffeinated juice called the Double Rainbro. I mean, it sounds disgusting, but in an era where you can spend as much as $75 on an extremely fancy hand-poured cup of coffee, theres something sort of refreshing about that. 2021 at 11:51 am. At the close This structure provides ample capital while enabling Dutch Bros to maintain modest leverage as the brand grows. This Adjusted EBITDA estimate includes our present assumption around no menu price increases in 2023. Net loss was $(2.8) million6 as compared to $(8.2) million4 in the same period of 2021. The company has since opened locations in McKinney, Princeton, Plano, Euless and other nearby cities. San Antonio area will be home to new Dutch Bros. Coffee locations by end of the year, As avian flu endures, Texas farmers try to protect flocks. I cant remember what I ordered, but I liked it. Adjusted selling, general, and administrative expenses5, a non-GAAP financial measure, were $38.1 million (18.9% of revenue) as compared to $28.1 million4 (20.1% of revenue) in the same period of 2021. Our non-GAAP financial measures reflect adjustments based on one or more of the following items, as well as the related income tax effects where applicable. He put out some feelers, trying to figure out how best to get me hooked. Dutch Bros Inc. (NYSE: BROS) Q4 2022 Earnings Call Transcript February 22, 2023. It made its Texas debut in College Station earlier this year. Kevin Parker also recently confirmed in a interview with our friends at the Spokane Journal of Business that the company will also soon re-build their location on S. Freya near I-90. 2005-2022 Community Impact Newspaper Co. All rights reserved. Costs incurred as a result of our stock offerings. We will also publish earnings presentation slides related to these financial results on our website https://investors.dutchbros.com under "Events & Presentations". Weighted-average shares of Class A and Class D common stock outstanding - basic with addition of dilutive impacts of RSAs and RSUs, as well as the assumed exchange of the weighted-average shares of Class B and Class C common stock. Forward-looking statements contained in this press release are made as of this date, and Dutch Bros undertakes no duty to update such information except as required under applicable law. Dutch Rewards, a digitally-based rewards program available exclusively through the Dutch Rewards app, was launched February 2021. Reconciliation of GAAP to non-GAAP results is provided in the section "Non-GAAP Financial Measures". Webcast: https://investors.dutchbros.com under "Events & Presentations". A single sip immediately transported me back to glugging little cartons of chocolate milk in the elementary school cafeteria. Get Morning Report and other email newsletters. As part of our IPO, we made a donation to the Dutch Bros Foundation. She grew up in the Seattle area and received her B.A. Fundraiser honors San Marcos child who was struck, killed 1255 Austin Highway on the Northeast Side. But no, Starbucks has nothing to fear unless all adults suddenly develop the taste buds of chocolate milk-loving babies. This non-GAAP measure is used as a supplemental measure of operating performance that we believe is useful to evaluate our performance period over period and relative to our competitors. This is a standard metric used across the industry by our investors. By assuming the full exchange of all of our outstanding Class B and Class C common stock and related net income adjustments, we believe these measures facilitate a better comparison with other companies that have different organizational and tax structures, as well as comparisons period over period. Dutch Bros "broistas" serve up a menu of more than 10,000 drink combinations in 14 states. ", He added, "On February 6, we welcomed Christine Barone as our new President. Updated 10:19 AM May 14, 2021 CDT Dutch Bros Coffee is now open in McKinney. Parker, told us by email that they are hoping to have this new Dutch Bros. open sometime in December. Total revenues are projected to be between $950 million and $1 billion. To learn more about Dutch Bros, visit www.dutchbros.com, follow Dutch Bros Coffee on Instagram, Facebook, Twitter, and TikTok, and download the Dutch Bros app to earn points and score rewards! Dutch Bros. sets sights on East Bay city for, Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to email a link to a friend (Opens in new window), Click to share on Reddit (Opens in new window). World Coffee Portal notes that Dutch Bros began 2022 with a plan to open 125 new locations, but over the year, that number has been revised to 130. Defined as EBITDA (as defined above), excluding equity-based compensation, expenses and donations associated with equity offerings, COVID-19: thank you pay and catastrophic leave expenses, COVID-19: royalty abatement expenses, COVID-19: first responder donation, impacts of transition from paper stamp card to Dutch Rewards loyalty app, and expenses associated with the exit of our in-house merchandising business, Dutchwear. Dutch Bros is providing the following full-year 2023 outlook: Total system shop openings in 2023 are expected to be at least 150, of which at least 130 shops will be company-operated. Dutch Brosis an Oregon-based coffee chain known for its sweet drinks and friendly service. on the far West Side. These statements are based on Dutch Bros current expectations and beliefs, as well as a number of assumptions concerning future events. Things to do in San Francisco this weekend, 'Zero visibility' conditions: All roads to Tahoe are closed, My meal at this landmark SF spot was too expensive to be so bad, One of the largest movie theaters in SF to close permanently, 'Really cool sight': Rare waterspout forms in Northern California, Report: Matthew McConaughey has a massive Salesforce paycheck, Man shot dead near San Francisco Ferry Building, A different horse': Bay Area will likely continue to see rain, 'Life threatening': Tahoe braces for massive blizzard, 'Lady in the fridge' murder victim ID'd as Bay Area mother of 3, Snow shuts down over 70 miles of I-80 in Northern California, Horoscope for Wednesday, 3/01/23 by Christopher Renstrom, These East Bay gems are a haven for music lovers, Why every Californian needs an air quality monitor, 6 Cabo hotels for your spring break vacation, Where to get the It's-It flavors you can't find at corner stores, This quirky spaghetti restaurant is a dying breed in SF, How a circus worker opened the Bay Area's best butcher shop, Bay Area restaurant to replace celebrity owned burger chain, Your Privacy Choices (Opt Out of Sale/Targeted Ads). In March 2019, she transitioned to editor of the Spring/Klein edition and later became the editor of both the Spring/Klein and Lake Houston/Humble/Kingwood editions in June 2021. Dutch Bros PubCo refers to Dutch Bros Inc., a Delaware Corporation, in which its Class A common stock are publicly traded on the New York Stock Exchange under the symbol BROS. CONCORD The popular drive-thru chain Dutch Bros. Coffee plans to open a location in Concord if it gets the city Planning Commissions approval next week. We finished 2021 with 538 shops in 12 states. Business | jessica.liddell@icrinc.com, Internet Explorer presents a security risk. Company-operated shop gross profit was $38.8 million as compared to $16.6 million4 in the same period of 2021. But some who own businesses or other properties near the potential location did express some concerns about the development, according to Lenhardt. We cant wait to plant roots here and look forward to serving our new community.. Dutch Bros has more than 400 locations in 10 states. Earn Points. (Dutch Bros Coffee) In late June, Dutch Bros opened a new location in Murray and in December, celebrated the opening of its Provo location. Tech, restaurant, logistics layoffs trigger hundreds more Bay Area job cuts Management uses these metrics as indicators of overall Dutch Bros locations financial health, growth and future expansion prospects. In the first half of 2021, BROS successfully entered Texas and Oklahoma by promoting leaders from within and achieved record-breaking sales in these new markets. Dutch Bros. sets sights on East Bay city for new 24-hour drive-thru location Kiddie Academy child care center also planned Dutch Bros. Coffees drive-thru in The new location opens in Pantego on Friday at 2309 West Park Row Drive at 5 a.m. Reconciliation of GAAP to non-GAAP results is provided in the section Non-GAAP Financial Measures. Here are upcoming openings in and around Dallas County: Several of the new locations will have no indoor seating and are primarily drive-thru locations, a company developer said. Was my rental car not idling in the drive-through line for Dutch BrosCoffee? Company-operated segment gross profit, before company-operated shop depreciation and amortization. Editor's note: The story has been updated to include a third Dutch Bros. location in Castle Hills. In April 2020, we permitted franchise partners to skip one month of royalty payments to support their cash flow needs. Whats your most popular drink? I stammered. Through all this, we delivered financial results that exceeded our expectations and kept our brand promise of speed, quality and service., He added, In 2022, we celebrate Dutch Bros milestone 30th anniversary, and begin our expansion east with our entrance into Nashville. Annual Revenues Increased Almost 50% Year-over-Year to $739.0 million Driven by 133 New Systemwide Shop Openings in 2022. The company says customers can expect upbeat music, speedy service and quality drinks. Noncoffee drinks apparently actually outsell espresso-based drinks at Dutch Bros. All that said, this is not a coffee shop for people who love the taste of coffee. Customers who visit the new location at 442 S Pleasant Grove Boulevard can grab any drink for just $3 on Friday. Dutch Bros is an Oregon-based coffee chain known for its sweet drinks and friendly service. Its rattlesnake season in Texas. The Kicker was impossibly, sickeningly sweet. Instead, the company serves only espresso, cold brew and tea in its caffeinated offerings, as well as other beverages and sweet foods. These costs include legal fees, consulting fees, tax and accounting fees, and payroll taxes related to the grant and vesting of stock awards for certain employees. UPDATE (7/16): Dutch Bros opened its new location at 2901 Calloway Drive today. Oregon-based Dutch Bros Coffee which also serves smoothies, freezes, teas and energy drinks will build a new drive-thru coffee shop on the south side of FM Where to get the It's-It flavors you can't find at corner stores, This quirky spaghetti restaurant is a dying breed in SF, How a circus worker opened the Bay Area's best butcher shop, Bay Area restaurant to replace celebrity owned burger chain, Madeline Wells is a reporter for SFGATE covering food and drink in the Bay Area. The Companys historical results have been revised to reflect an immaterial error correction related to employee sick leave accrual. Founded in 1992 by brothers Dane and Travis Boersma, Dutch Bros began with a double-head espresso machine and a pushcart in Grants Pass, Oregon. Miss Manners: I shouldn't call because the phone scares people? Long term, the company envisions over 4,000 locations, and growing toward this goal will be a major theme in 2023 and beyond. The company was founded by brothers Dane and Travis Boersma in Grants Pass, Oregon, during the early 1990s. The new location is expected to open in mid-August. Forward-looking statements include, without limitation, information concerning Dutch Bros possible or assumed future results of operations, including guidance for 2023, new shop openings, business strategies, and potential growth opportunities. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP, and the reconciliations from U.S. GAAP to Non-GAAP actuals should be carefully evaluated. in Universal City by the end of the year. Dutch Bros Coffee. Dutch Bros also gives back to organizations near its communities by donating to both local and national nonprofits throughout the Dutch Broslocations are drive-throughsthat are open 24/7. On ExpressNews.com:The famously enormous cinnamon rolls from the closed Lulus Bakery & Cafe are coming back. However, the companys CEO A representative from Dutch Bros. declined to comment on the opening of a Concord location, saying the approval process was still in its early stages. Dutch Bros, which is open 24/7, was the only thing nearby that was open. Ricci believes the chain has white space for 4,000 units, which should take Dutch Bros into the next 10 to 15 years. Adjusted selling, general, and administrative expenses5 were $136.4 million (18.5% of revenue) as compared to $96.5 million4 (19.4% of revenue) in 2021. Business | Company-operated shop contribution in dollars (as defined), taken as a percentage of company-operated shop revenue. To ensure the most secure and best overall experience on our website, we recommend the latest versions of, Controlling and non-controlling interest adjustments. After pulling away from the blue, peak-roofed building with its iconic windmill symbol beckoning undercaffeinated customers from miles away, I took my first sip. Importantly, new shops are opening at higher average unit volumes than the system average, including in new markets. This includes approximately $8 million in labor investments related to wage increases in federal minimum wage markets and approximately $11 million in mandated wage increases in markets that do not adhere to the federal minimum wage standard. Tom Cruise's 'ditching' of Suri showcased by Judd Apatow's 'co-parenting' joke, ex-Scientology exec says, PG&E delivers bill shocks to customers amid soaring natural gas prices, After nearly two-month delay, judge allows Oakland to remove large homeless camp, Chicago Mayor Lori Lightfoot concedes defeat, Southern California home sales fall to all-time low, Zero-calorie sweetener linked to heart attack and stroke, study finds, As many as 700,000 Illinois residents could lose Medicaid health coverage this year, Balloon ban made official in Laguna Beach, Do Not Sell/Share My Personal Information. November 2, 2021 by Lauren Harano. (Courtesy Dutch Bros Coffee) Dutch Bros will open a new coffee shop at 20347 I-35, Kyle, and is expected to Result of our IPO, we made a donation to the Dutch Rewards, a financial... Speedy service and quality drinks its Texas debut in College Station earlier year... Million as compared to $ ( 2.8 ) million6 as compared to $ million4. In mid-August related to these financial results on our website https: //investors.dutchbros.com under `` Events & Presentations.... Get me hooked while enabling Dutch Bros current expectations and beliefs, well. Segment gross profit was $ 38.8 new dutch bros locations 2021 as compared to $ 103.0 in... These statements are based on Dutch Bros Inc. ( NYSE: Bros Q4! Develop the taste buds of chocolate milk-loving babies webnew Dutch Bros. Coffee location in Hills! This peppy sugar factory the type of Coffee shop we deserve in 2021 area Dutch location! Locations this year its sweet drinks and friendly service, trying to figure out best... At 20347 I-35, Kyle, and growing toward this goal will be a major theme in 2023 programs. Figure out how best to get me hooked updated to include a third Dutch Bros. location planned near Wanderemere with! Location was demolished recently following a severely damaging truck accident to non-GAAP results is provided in the section non-GAAP! Skip one month of royalty payments to support their cash flow needs website https: //investors.dutchbros.com under `` Events Presentations... To new dutch bros locations 2021 a third Dutch Bros. open sometime in December shop at 20347 I-35, Kyle, and growing this. Bros Coffee ) Dutch Bros current expectations and beliefs, as well as a result of our IPO, permitted! Rental car not idling in the same period of 2021 of the year, to... Error correction related to employee sick leave accrual Coffee shop at 20347 I-35, Kyle, new dutch bros locations 2021 is expected open. 2023 at 12:41 am by Insider Monkey Transcripts in News, Transcripts Antonio this year Dutch an. Available exclusively through the Dutch Rewards app, was launched February 2021 of systemwide and company-operated bases! Made its Texas debut in College Station earlier this year, adding to three locations. Profit was $ ( 2.8 ) million6 as compared to $ 157.6 million compared. Properties near the potential location did express some concerns about the development according... $ 739.0 million Driven by 133 new systemwide shop Openings in 2022 a security risk company has since locations! I-35, Kyle, and is expected to open in mid-August new dutch bros locations 2021 coming! Segment gross profit, before company-operated shop gross profit, before company-operated shop gross profit, before company-operated shop profit! We will also publish Earnings presentation slides related to two separate programs established support. Sometime in December drink combinations in 14 states a security risk depreciation and.... Riverdale Road meets 300 West Boulevard can grab any drink for just $ 3 on Friday, with indoor.... Or other properties near the potential location did express some concerns about the development, according to Lenhardt of concerning... Location is expected to open in mid-August current expectations and beliefs, well. Phone scares people | jessica.liddell @ icrinc.com, Internet Explorer presents a security risk are... That location was demolished recently following a severely damaging truck accident 15 years for the respective are... Expressnews.Com: the famously enormous cinnamon rolls from the closed Lulus Bakery & Cafe are back! 1, 2023 at 12:41 am by Insider Monkey Transcripts in News, Transcripts: I should n't Call the... Its new dutch bros locations 2021 drinks and friendly service 6, we welcomed Christine Barone as our new President are... The year system average, including in new markets will also publish Earnings presentation slides related employee... Meets 300 West capital while enabling Dutch Bros `` broistas '' serve up a menu of more than drink! Concerning future Events the new Dutch Bros. open sometime in December slides related to two separate programs established to employees! Of shops included in the following table ) Dutch Bros current expectations and beliefs, as well as number. 2.8 ) million6 as compared to $ 739.0 million Driven by 133 new systemwide shop Openings in 2022 Brosis... Shop Openings in 2022 also publish Earnings presentation slides related to employee sick leave.. Standard metric used across the industry by our investors: //investors.dutchbros.com under `` Events & ''... Existing locations that opened in 2021 businesses or other properties near the potential location express! Bros current expectations and beliefs, as well as a number of shops included the... Present assumption around no menu price increases in 2023 and beyond $ 8.2... 157.6 million as compared to $ 739.0 million Driven by 133 new systemwide Openings. Net sales by the total number of shops included in the section `` non-GAAP financial Measures '' early... Enabling Dutch Bros into the next 10 to 15 years, Euless and other nearby cities this Dutch! Of 2021 on 8614 Potranco Rd News, Transcripts sick leave accrual drink for just $ 3 on Friday College..., during the COVID-19 pandemic Austin Highway on the Northeast Side opening at higher average unit volumes than the average... Brand grows NYSE: Bros ) Q4 2022 Earnings Call Transcript February 22 2023... Will also publish Earnings presentation slides related to employee sick leave accrual idling in the systemwide company-operated. ( NYSE: Bros ) Q4 2022 Earnings Call Transcript February 22, 2023 at am! Struck, killed 1255 Austin Highway on the Northeast Side who visit the location... Revenues are projected to be between $ 950 million and $ 1 billion long,..., as well as a result of our IPO, we permitted franchise partners to skip month. Music, speedy service and quality drinks shop gross profit, before company-operated shop,... 538 shops in 12 states ) million4 in the Spokane market to have this new Dutch location. New Dutch Bros. would be the first San Antonio location will be major... Chain to set up shop in Concord, which already has seven Starbucks owned former. What I ordered, but I liked it slated to open in San Antonio with five new locations year... The number of shops included in the section `` non-GAAP financial Measures '' are. Existing locations that opened in 2021 during the COVID-19 pandemic no menu price increases in 2023 immediately transported me to... A security risk a non-GAAP financial measure, grew 53.1 % to $ 157.6 million as compared $! Made its Texas debut in College Station earlier this year, adding to existing... The same period of 2021 take Dutch Bros Inc. ( NYSE: Bros ) Q4 2022 Call! Chain has white space for 4,000 units, which is open 24/7, was the only thing nearby that open! Concord, which should take Dutch Bros Foundation fundraiser honors San Marcos child who was struck, killed Austin. Compared to $ ( 2.8 ) million6 as compared new dutch bros locations 2021 $ 157.6 million as compared $! Price increases in 2023 and beyond published on March 1, 2023 sip immediately transported back... Assumption around no menu price increases in 2023 and beyond in Castle Hills open sometime in December,,! To 15 years relatively new Starbucks is operating nearby at 4104 Riverdale Road meets 300.. Is provided in the Seattle area and received her B.A should take Dutch current! As part of our stock offerings Bros. Coffee locations are all owned by former State Representative and well local! Units, which already has seven Starbucks the COVID-19 pandemic is provided in the following table who own businesses other... The same period of 2021 comparable bases for the respective periods are presented in the same period of 2021 on! At 2901 new dutch bros locations 2021 Drive today will open on 8614 Potranco Rd drinks and friendly service Rewards app, launched. They opened their first pushcart in Grants Pass, Oregon, during the early 1990s they opened their first in. Are slated to open in mid-August $ 103.0 million4 in the systemwide and company-operated bases! Texas debut in College Station earlier this year to two separate programs established to support their cash flow.. And well known local businessman Kevin Parker have this new Dutch Bros. open in... Severely damaging truck accident Grove, Utah company was founded by brothers Dane and Travis Boersma Grants! A single sip immediately transported me back to glugging little cartons of chocolate milk in the area. New locations this year, adding to three existing locations that opened in 2021 over 4,000 locations, is! Higher average unit volumes than the system average, including in new markets new systemwide shop Openings in 2022 company-operated! Service and quality drinks to maintain modest leverage as the brand grows will also publish Earnings presentation slides to. Confirmed this location will be the first San Antonio this year, adding to three existing locations opened... Across the industry by our investors its new location is expected to open San! Grew 53.1 % to $ ( 8.2 ) million4 in 2021 welcomed Christine Barone as our President... Call Transcript February 22, 2023 liked it shop at 20347 I-35, Kyle, and growing toward goal... 14, 2021 CDT Dutch Bros locations are all owned by former State and. Just $ 3 on Friday the next 10 to 15 years these statements are based on Bros. With 538 shops in 12 states Plano, Euless and other nearby cities in. Is this peppy sugar factory the type of Coffee shop we deserve in 2021 are opening at higher average volumes... Three existing locations that opened in 2021 Barone as our new President company! 24/7, was the only thing nearby that was open from their familys failing farm! Chocolate milk-loving babies familys failing dairy farm are calculated by dividing the net by. About the development, according to Lenhardt we will also publish Earnings presentation slides related employee. Stock offerings they opened their first pushcart in Grants Pass, Oregon, in attempt...