Dutch Bros Results Presentation Deck
2021 Contribution
Margin ¹
1
2
3
25.5%
4
COMPANY-OPERATED SHOPS CONTRIBUTION
(3.8)%
Ingredient Costs
(0.9)%
Cost Increases
(5.8)%
Shop Opex
2021 to 2022
Company-Operated Shops Contribution Bridge
(0.7)%
Labor Costs
(0.4)%
Maintenance Costs
4.3%
Menu Prices
0.4%
Discounts
0.4%
10
Pre-opening Costs
(0.8)%
New Shop Impact
0.5%
Loyalty Points
Breakage 2021 ³
0.2%
Loyalty Points and
Rewards Breakage
2022 4
(0.1)%
Other, Net
Contribution Margin is a non-GAAP measure, the definition and the GAAP to non-GAAP reconciliation are provided on slide 9. The company-operated gross margin was 21.5% for 2021 and 19.0% for 2022.
Refer to NOTE 20-Segment Reporting on our Annual Report on Form 10-K for the year ended December 31, 2022 regarding our revised historical results related to an immaterial error correction for employee sick leave.
Recognition of $4.9 million of revenue from the loyalty points collected prior to January 1, 2022 that expired on December 31, 2022, which is included in company-operated shop gross margin and contribution.
Recognition of $2.5 million of revenue from the estimated unredeemed loyalty points and rewards from purchases made in 2022.
24.6%
2022 Contribution
Margin ¹View entire presentation