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Dutch Bros Inc.

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19
   10-K10-K10-K10-K
Revenues:  
    Company-operated shops  639.7403.7244.5151.5
    Franchising and other  99.394.182.986.8
Total revenues  739.0497.9327.4238.4
            Revenue growth   [+]48.4%52.1%37.4% 
                Unit growth  24.7%   
Cost of goods sold  558.1344.6211.5142.3
Gross profit  180.9153.3115.996.1
            Gross margin  24.5%30.8%35.4%40.3%
Selling, general and administrative  183.5264.5104.965.8
EBITDA   [+]42.1-86.026.540.0
            EBITDA margin  5.7%-17.3%8.1%16.8%
Depreciation and amortization  44.725.215.59.7
EBIT   [+]-2.6-111.211.030.3
            EBIT margin  -0.4%-22.3%3.4%12.7%
Interest expense  18.07.13.72.3
Other income (expense), net  6.6-1.2-0.40.6
Pre-tax income  -14.1-119.66.928.6
Income taxes  2.6-1.60.80.1
            Tax rate   1.4%12.2%0.3%
Minority interest  -14.5-37.9  
Net income  -2.2-80.16.128.5
            Net margin  -0.3%-16.1%1.9%11.9%
   
Basic EPS   [+]($0.04)($1.75)  
Diluted EPS   [+]($0.04)($1.75)  
   
Shares outstanding (basic)   [+]51.945.9  
Shares outstanding (diluted)   [+]51.945.9  
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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