On this page of StockholderLetter.com we present the latest annual shareholder letter from Dutch Bros Inc. — ticker symbol BROS. Reading current and past BROS letters to shareholders can bring important insights into the investment thesis.

 •  3/31/2026 Letter Continued (Full PDF)
 •  4/11/2023 BROS Stockholder Letter
 •  4/1/2024 BROS Stockholder Letter
 •  3/31/2025 BROS Stockholder Letter
 •  More "Hotels" Category Stockholder Letters
 •  BROS Benford's Law Stock Score = 75

BROS Shareholder/Stockholder Letter Transcript:

2025 ANNUAL REPORT

2025
ANOTHER YEAR
OF MOMENTUM
38%
TOTAL REVENUES*
$1,638
*DOLLARS IN MILLIONS
EVE
R
L
A
TOT
N
$1,281
AGR
C
S
UE
$966
$739
$498
$327
2020
2021
2022
SYSTEMWIDE
SAME SHOP SALES
TRANSACTIONS
TICKET
2.4%
5.4%
2023
2025
2024
SYSTEMWIDE
SHOPS
SHO
WTH
O
R
G
P
16%
+154 UNITS
1,136
982
3.2%
(0.1%)
2024
Total SSS: +5.3%
2025
Total SSS: +5.6%
2024
2025

3/31/2026 Letter Continued (Full PDF)

 

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