Dutch Bros Investor Presentation Deck
($ in thousands)
Total revenues
Selling, general, and administrative
As a percentage of total revenue
SG&A LEVERAGE
1
3
Adjustments
Equity-based compensation
Expenses associated with equity offering
Donations associated with equity offering
COVID-19: prepaid costs not utilized
Milestone events
Executive transitions costs
Total adjustments
2
3
2
$
Adjusted selling, general, and administrative $
As a percentage of total revenue
Compared to the prior year
$
$
Q1
98,785
35,986 $
36.4 %
(14,650)
(76)
2021 1
Q2
Q3
Q4
Q1
$ 129,208 $ 129,803 $ 140,080 $ 152,156
33,488 $ 153,700 $
25.9 %
118.4 %
(8,332)
(2,253)
(124,779)
(3,332)
(1,392)
41,355 $
29.5 %
(9,955)
(862)
(2,400)
(9,900)
9
Q2
$ 186,381
45,214 $ 42,342
29.7 %
22.7%
(1,200)
(2,434)
2022
(10,446)
Q3
Q4
$198,648 $ 201,827
$ 45,378 $ 50,594
22.8%
(10,649)
25.1%
(10,662)
(1,105)
(691)
(14,726) $ (10,585) $ (129,503) $ (13,217) $ (13,534) $ (10,446) $ (10,649) $ (12,458)
21,260 $ 22,903 $ 24,197 $ 28,138 $
34,729 $
17.7%
18.6 %
20.1 %
17.5 %
38,136
31,680 $
20.8 %
31,896 $
17.1 %
21.5 %
(0.7)%
(0.6)%
(1.1)%
18.9 %
(1.2)%
$
$
$
Year Ended December 31,
2021 1
497,876 $
264,529 $
53.1 %
(157,716)
(6,523)
(3,792)
(168,031) $
96,498 $
19.4 %
2022
739,012
183,528
24.8%
(41,657)
(2,305)
(2,434)
(691)
(47,087)
136,441
18.5 %
(0.9)%
Refer to "Non-GAAP Financial Measures" section on our Earnings Release filed on Form 8-K, dated February 22, 2023 for the year ended December 31, 2022 regarding our revised historical results related to an immaterial error correction for employee sick
leave.
Selling, general, and administrative includes depreciation and amortization.
See slide 12 for explanations of each non-GAAP adjustment.View entire presentation