By Daniella Parra
Dutch Bros Inc. (NYSE: BROS) said total revenue grew 25.9% to $254.1 million and system same shop sales increased 5%.
Adjusted EBITDA margin was 16.6%, expanding 430bps year over year and total system shop openings in 2024 are expected to be in the range of 150 to 165, the company said.
Dutch Bros also announced three additions to the leadership team: Sumi Ghosh, incoming President of Operations, Josh Guenser, incoming CFO, and Jess Elmquist, Chief People Officer in January.
“We had an exceptional 2023 and entered 2024 with great momentum,” said Christine Barone, Chief Executive Officer and President. “We continued to drive steady new shop growth, and Q4 marked our 10th consecutive quarter of 30+ new shop openings.”
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