Dutch Bros is growing fast. Here’s why its expansion plans matter more than its stock bump

Starbucks competitor Dutch Bros saw its stock price rise in premarket trading on Friday after the coffee chain posted double-digit revenue growth in its most recent quarter. However, shares were flat as of late morning, with the stock (NYSE: BROS) hovering at just over $50 a share.

Perhaps even more important for the stock—and for those investors who are long on it—is the coffee chain’s announcement that it is on track to nearly double its store footprint by 2029. Here’s what you need to know.

Dutch Bros has a record Q4 2025

Dutch Bros was founded in 1992, but it’s only in recent years that the coffee chain started to become a household name, thanks to its ever-expanding footprint.

And while the chain isn’t yet as well known as Starbucks, the company is increasingly looking like a significant threat to the Seattle coffee giant.

Yesterday, Dutch Bros reported its fourth-quarter fiscal 2025 results, showing impressive gains in nearly every key metric, including:

• Total revenue: $443.6 million (up 29.4% year over year)
• Net income: $29.2 million (versus $6.4 million in the same quarter a year earlier)
• Systemwide same shop sales: up 7.7%
• Adjusted EBITDA: $72.6 million (up 48.8%)

The company also issued strong guidance in many metrics for its current fiscal year 2026, including projected total revenue of between approximately $2 billion and $2.03 billion, and same shop saels growth of 3% to 5%.

But besides its financial numbers, Dutch Bros also revealed something else: that its aggressive store expansion plans are on track for 2029, and if it achieves the goals, the company’s footprint could nearly double in the next three years.

Dutch Bros plots new store opening for 2026 and beyond

While same-store sales are increasing for Dutch Bros, one of the fastest ways for any chain to boost overall sales is to open more locations. And that is exactly what Dutch Bros has been doing.

In its full-year fiscal 2025, which just ended, Dutch Bros said it opened 154 new stores across 22 states. That put its total number of locations at 1,136 stores in 25 states, as of December 31.

And its aggressive rollout is continuing in 2026. In a supplemental earnings slide deck the company released, it revealed that it expects “at least” 181 new Dutch Bros stores to open in 2026. Those new openings are in service of the company’s lofty 2029 goals.

By that year, the company says it aims to have 2,029 stores across the United States.

BROS stock rises today, but is still red for the year

After announcing its record-breaking fiscal 2025 results, Dutch Bros stock jumped by nearly 4% in early-morning trading. However, as of the time of this writing, much of those gains have been given back.

The early-morning stock price gain was no doubt welcome to investors. However, the company, which began trading on the New York Stock Exchange half a decade ago, still has a ways to go if it wants to regain its all-time highs.

Since 2026 began, BROS stock has now declined by nearly 13%. Over the past year, BROS is down more than 36%. During those same periods, the NYSE Composite Index is up about 5.8% year to date, and over 15% over the past twelve months, according to Yahoo Finance data.

Dutch Bros stock hit an all-time high of above $79 a year ago this month.

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