Dutch Bros Investor Presentation Deck
1
ADJUSTED EBITDA RECONCILIATION
($ in thousands)
Net income (loss)
Depreciation and amortization
Interest expense, net
Income tax expense (benefit)
EBITDA
Equity-based compensation
Expenses associated w/IPO
Donations associated w/IPO
COVID-19: "thank you pay" and catastrophic leave
COVID-19: prepaid costs not utilized
Milestone events
Executive transition costs
TRA remeasurement
Adjusted EBITDA
Adjusted EBITDA margin
$
$
$
Q1
(4,822)
5,350
1,017
43
1,588
14,650
76
TEI
2,371
$
Q2
2021 ¹
11,889
5,681
1,838
521
$ 19,929
8,332
2,253
185
|||
$ (116,830)
6,696
2,393
(1,280)
$ (109,021) $
124,779
3,332
1,392
473
18,685 $ 30,699 $
18.9 %
23.8 %
Q3
13
||||
20,955
16.1 %
$
$
Q4
(8,168)
7,490
1,845
(912)
255
9,955
862
2,400
321
13,793
9.8 %
Q1
$ (16,279)
$
9,182
2,489
(214)
$ (4,822) $
9,900
950
1,200
2,434
9,662 $
6.4 %
Q2
$ (1,751) $
10,539
3,596
885
2022
13,269
10,446
224
23,939
12.8 %
$
$
Q3
1,594
11,810
5,011
(3,371)
15,044
10,649
227
|||
Q4
67
1,105
$ (2,817) $ (117,931) $
13,197
6,922
5,299
$ 22,601
10,662
691
1,910 (5,376)
27,830 $ 29,750
14.0 %
14.7%
Year Ended December 31,
2021
$
25,217
7,093
(1,628)
$ (87,249) $
157,716
6,523
3,792
3,350
84,132 $
16.9 %
2022
(19,253)
44,728
18,018
2,599
46,092
41,657
1,468
2,305
2,434
691
(3,466)
91,181
12.3 %
Refer to NOTE 2 - Basis of Presentation and Summary of Significant Accounting Policies on our Annual Report on Form 10-K and statements of operations on our fourth quarter 2022 earnings press release for the three months and year ended
December 31, 2022 regarding our revised historical results related to an immaterial error correction for employee sick leave accrual.View entire presentation