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Dutch Bros BROS Gift card redemptions — Deferred revenue recognized

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Other financials

Income statement

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Revenue$550.9M+32.5%
Gross profit$151.1M+25.8%
Operating income$70.4M+28.8%
Net income$37.4M+46.0%
EPS (diluted)$0.28+40.0%

Balance sheet

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Cash & equivalents$268.6M+5.6%
Total debt$1.2B+21.4%
Total equity$797.7M+25.4%
Total assets$3.4B+20.1%

Cash flow

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Operating cash flow$112.2M+24.8%
CapEx$72.3M+33.3%
Free cash flow$39.9M+11.9%

Valuation

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Market cap$9.01B+22.8%
Enterprise value$9.93B+23.2%
P/E97.5×-30.6×
P/S4.8×-0.3×

Profitability

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Gross margin25.1%-1.6pp
Operating margin9.6%+0.3pp
Net margin4.9%+1.0pp
FCF margin5%0.0pp

Returns & leverage

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Return on equity12.9%+2.9pp
Debt / equity1.5×0.0×
Current ratio1.4×-0.3×

Where this comes from

Reported directly by Dutch Bros in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityRevenueRecognized.

The source filing: Dutch Bros’s 10-Q, filed August 6, 2026.

Filed
Aug 5, 2026, 8:00 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001866581-26-000133
(in thousands)Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Gift card redemptions 1$3,078$1,315$8,640$6,407

Item 1. Financial Statements (Unaudited)

FAQ

What is Dutch Bros's gift card redemptions — deferred revenue recognized?
Dutch Bros (BROS) reported gift card redemptions — deferred revenue recognized of $3.08M in Q2 2026.
How has Dutch Bros's gift card redemptions — deferred revenue recognized changed year-over-year?
Dutch Bros's gift card redemptions — deferred revenue recognized increased by 134.1% year-over-year, from $1.32M to $3.08M.
What is the long-term trend for Dutch Bros's gift card redemptions — deferred revenue recognized?
Over 4 years (2021 to 2025), Dutch Bros's gift card redemptions — deferred revenue recognized has grown at a 20.7% compound annual growth rate (CAGR), from $3.81M to $8.07M.
What does gift card redemptions — deferred revenue recognized mean?
This metric represents the amount of revenue recognized during the period resulting from the redemption of prepaid gift cards by customers. It reflects the conversion of previously collected cash into earned revenue as customers utilize their stored value balances to purchase products. This serves as a key indicator of customer engagement and the velocity at which prepaid balances are being consumed within the retail ecosystem.

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