Dutch Bros Brews Record Cash, Plots 2026 Expansion

Tempe-based coffee chain reports $1.64B revenue and $117.3M net income in 2025, plans 181 new locations in 2026.

Published on Feb. 16, 2026

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Dutch Bros, the drive-thru coffee chain based in Tempe, Arizona, reported its strongest financial performance yet in 2025, with $1.64 billion in revenue and $117.3 million in net income. The company plans to accelerate its expansion in 2026, projecting at least 181 new shop openings and targeting $2 billion in revenue.

Why it matters

Dutch Bros' record financial results and ambitious growth plans highlight the company's position as a dominant player in the coffee industry, particularly in the Southwest region. The expansion will likely further solidify Dutch Bros' market share and brand recognition, but also raises questions about the company's ability to maintain profitability and unit-level economics as it scales rapidly.

The details

In 2025, Dutch Bros opened 154 new shops across 22 states, ending the year with 1,136 locations. For 2026, the company is planning an even larger expansion, projecting at least 181 new shops and targeting $2 billion in revenue. Dutch Bros has been building out a corporate presence in the Phoenix area, leasing office space in Tempe to serve as a training and operations hub. However, the company is also facing near-term margin pressure from elevated coffee costs, even as its average unit volumes hit record levels.

  • Dutch Bros reported $1.64 billion in revenue and $117.3 million in net income for 2025.
  • Dutch Bros plans to open at least 181 new shops in 2026.
  • Dutch Bros is targeting $2 billion in revenue for 2026.

The players

Dutch Bros

A drive-thru coffee chain based in Tempe, Arizona, that reported record financial results in 2025 and is planning a major expansion in 2026.

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What’s next

Dutch Bros' aggressive expansion plans in 2026 will be closely watched by investors and industry analysts to see if the company can maintain its strong financial performance and unit-level profitability as it scales rapidly.

The takeaway

Dutch Bros' record financial results and ambitious growth strategy underscore the company's position as a dominant player in the coffee industry, particularly in the Southwest region. However, the rapid expansion also raises questions about the company's ability to balance profitability and unit economics as it continues to open new locations at a breakneck pace.