The US’ largest drive-thru coffee chain saw revenues increase 32% year-on-year in 2024, alongside double-digit adjusted EBITDA and outlet growth
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Dutch Bros reached its 1,000 store milestone in February 2025 with a new site in Florida | Photo credit: Dutch Bros
Dutch Bros CEO Christine Barone has said the coffee chain’s “future has never looked brighter” after posting double-digit revenue, profit and outlet growth in 2024.
The drive-thru coffee chain achieved 32% year-on-year group revenue growth to reach $1.28bn during the 12 months ended 31 December 2024, with fourth quarter sales up 35% to $342.8m.
Oregon-based Dutch Bros’ full-year adjusted EBITDA increased 44% to $230m, with net income increasing to $66.5m, compared to $10m in 2023.
Dutch Bros opened 151 net new stores last year, 128 of which are company-operated, to reach 982 outlets across 18 states. The coffee chain also reached its 1,000 store milestone in February 2025 with a new site in Florida.
“We delivered exceptional performance in the fourth quarter as we ended 2024 on a high note. Our efforts to develop our foundational transaction drivers – innovation, paid media, and our Dutch Rewards loyalty programme – are working. We believe these efforts are contributing to current momentum and that there is considerable runway for further growth,” Barone said.
During an earnings call with investors, Barone said Dutch Bros will continue to focus on product innovation over the next 12 months, with particular focuses in iced and customisable beverages. The US coffee chain launched a new range of iced protein coffees in January 2024, and added a Churro Freeze blended caramel coffee range, sweet teas, cookie butter lattes and candy cane mochas to its beverage menu over the last 12 months.
“I am incredibly excited about the strength of our brand, the love from our customers, and our clear path forward. As we survey the industry landscape, we believe Dutch Bros is uniquely positioned and on-trend with an emphasis on iced beverages, personalisation, and speed,” Barone said.
Dutch Bros forecasts total 2025 revenues to reach $1.55bn-$1.57bn and expects to open at least 160 net new stores before the end of the year.
The fourth branded coffee chain to reach 1,000 stores in the US, after Starbucks, Dunkin’ and Panera Bread, Dutch Bros has longer-term ambitions to operate 4,000 US stores.