Filing Flows › Dutch Bros (BROS) › Q3 2026
Dutch Bros (BROS) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Dutch Bros (BROS) reported revenue of $550M for the third quarter 2026 (Q3 2026), +30% from a year earlier and -0.2% from the quarter before. Operating margin was 9.6%, net earnings $27.2M (4.9% of revenue).
Dutch Bros, Q3 2026: revenue $550M (+30% year over year), operating margin 9.6%, net earnings $27.2M, operating cash flow $100M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $550M | -0.2% | +30% |
| Operating profit | $52.8M | -25% | +27% |
| Net earnings | $27.2M | -27% | +55% |
| Operating cash flow | $100M | -11% | +12% |
| Free cash flow | $14.8M | -63% | -22% |
What changed
Revenue was $549.8M in Q3 2026, up 30% year over year and roughly flat from the previous quarter. Company-operated shops was the largest line at 94% of revenue. Company-operated shops added $122.2M year over year (up 31%), 97% of the total change.
Operating profit was $52.8M, a 9.6% margin (down 0.2 points year over year). Of the extra revenue versus Q3 2025, 9% reached operating profit, below the 10% margin then. Total costs grew 30% against revenue growth of 30%. The fastest-growing cost line was Cost of revenue (+32%). Net earnings were $27.2M, up 55% year over year. The effective tax rate was 19.1%.
Operating cash flow was $100.1M (up 12% year over year), 269% of net income including minority interests. Non-cash charges added back $39.3M of depreciation and amortization and $7.0M of share-based compensation. Working capital and other items added $16.6M. Capital expenditures of $85.3M left free cash flow of $14.8M.
Questions
What was Dutch Bros' revenue in the third quarter 2026?
Dutch Bros (BROS) reported revenue of $550M for the third quarter 2026 (Q3 2026), +30% from a year earlier and -0.2% from the quarter before.
Was Dutch Bros profitable in the third quarter 2026?
Operating profit was $52.8M (9.6% of revenue) and net earnings $27.2M.
Source: Dutch Bros 10-Q on SEC EDGAR.