Filing Flows › Dutch Bros (BROS) › Q2 2026
Dutch Bros (BROS) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Dutch Bros (BROS) reported revenue of $551M for the second quarter 2026 (Q2 2026), +32% from a year earlier and +19% from the quarter before. Operating margin was 12.8%, net earnings $37.4M (6.8% of revenue).
Dutch Bros, Q2 2026: revenue $551M (+32% year over year), operating margin 12.8%, net earnings $37.4M, operating cash flow $112M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $551M | +19% | +32% |
| Operating profit | $70.4M | +105% | +29% |
| Net earnings | $37.4M | +132% | +46% |
| Operating cash flow | $112M | +32% | +25% |
| Free cash flow | $39.9M | +44% | +12% |
What changed
Revenue was $550.9M in Q2 2026, up 32% year over year and up 19% from the previous quarter. Company-operated shops was the largest line at 93% of revenue. Company-operated shops added $129.5M year over year (up 34%), 96% of the total change.
Operating profit was $70.4M, a 12.8% margin (down 0.4 points year over year). Of the extra revenue versus Q2 2025, 12% reached operating profit, below the 13% margin then. Total costs grew 33% against revenue growth of 32%. The fastest-growing cost line was Cost of revenue (+35%). Net earnings were $37.4M, up 46% year over year. The effective tax rate was 19.7%.
Operating cash flow was $112.2M (up 25% year over year), 217% of net income including minority interests. Non-cash charges added back $35.5M of depreciation and amortization and $6.9M of share-based compensation. Working capital and other items added $18.2M. Capital expenditures of $72.3M left free cash flow of $39.9M.
Questions
What was Dutch Bros' revenue in the second quarter 2026?
Dutch Bros (BROS) reported revenue of $551M for the second quarter 2026 (Q2 2026), +32% from a year earlier and +19% from the quarter before.
Was Dutch Bros profitable in the second quarter 2026?
Operating profit was $70.4M (12.8% of revenue) and net earnings $37.4M.
Source: Dutch Bros 10-Q on SEC EDGAR.