Dutch Bros Results Presentation Deck
ADJUSTED EBITDA RECONCILIATION
($ in thousands)
Net income (loss)
Depreciation and amortization
Interest expense, net
Income tax expense (benefit)
EBITDA
Equity-based compensation
COVID-19: "thank you pay" and catastrophic leave
COVID-19: prepaid costs not utilized
Milestone events
Executive transition costs
TRA remeasurement
Legal proceedings
Adjusted EBITDA
Adjusted EBITDA margin
18
2022
Q1
Q2
Q3
Q2
1,851
Q4
Q1
$(16,279) $(1,751) $ 1,594 $(2,817) $(9,391) $ 9,711
9,182 10,539 11,810
13,197 14,779 16,516
2,489 3,596 5,011
6,922 7,886 9,058
(214) 885 (3,371) 5,299 2,580
$(4,822) $13,269 $15,044 $22,601 $15,854 $37,136
9,900 10,446 10,649 10,662 9,170 10,149
950
224
227
67
1,200
1,105
2,434
$ 9,662
1,910
$23,939 $27,830
6.4 % 12.8 % 14.0%
2023
691
150
(5,376) (1,294)
$29,750
14.7%
Q3
$13,401
18,116
9,325
1,828
$42,670
9,698
225
(861)
1,950
$23,880 $48,599 $53,008
12.1 % 19.4 % 20.0 %
225
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