Dutch Bros Results Presentation Deck
Q4 2020 to Q4 2021
LTM Q4 2021
Company-Operated Shop Contribution Bridge Company-Operated Shop Contribution Bridge
24.5%
Q4 2020
Contribution
Margin
Company-Operated Shops Contribution
1
(5.8)%
Impact of
Discounts
2.1%
COVID Costs
(YoY)
(1.9)%
COGS
(0.2)%
Other
18.7%
Q4 2021
Contribution
Margin
1.5%
Full Quarter
of Price
Increase
1
Contribution Margin is a non-GAAP measure, the definition and the GAAP to non-GAAP reconciliation are provided
on slide 16. The company-operated gross margin was 20.4% for Q4 2020 and 14.1% for Q4 2021.
11
28.7%
(3.4)%
2020
Low
Contribution, Discounts
Margin
1.1%
COVID Costs
(YoY)
(1.3)%
COGS &
Other
25.1%
2021
Contribution
Margin
3.2%
0.8%
Pre Opening COVID Costs
1
Contribution Margin is a non-GAAP measure, the definition and the GAAP to non-GAAP reconciliation are provided
on slide 16. The company-operated gross margin was 24.7% for 2020 and 21.1% for 2021.View entire presentation