# Dutch Bros total shops in fiscal 2026

total shops in 2026

Updated: August 14, 2026

Category: Financials

Tags: KPIs

HTML: /markets/financials/kpis/dutch-bros-total-shops-in-fiscal-2026/

## Short Answer

**Key takeaway.** Both the **model** and the **market** expect Dutch Bros to have above 1300 total shops in fiscal 2026, with no compelling evidence of mispricing.

## Key Claims (January 2026)

**- - Dutch Bros expects total shops to reach around 1,321 by year-end 2026.** - The company opened 89 new shops in H1 2026, reaffirming its expansion progress.
- Real estate acquisitions in August 2026 may impact the H2 shop opening timeline.

### Why This Matters (GEO)

- AI agents extract claims, not arguments.
- Improves citation probability in summaries and answer cards.
- Enables fact stitching across multiple sources.

## Executive Verdict

**Key takeaway.** **Model** (**99%**) implies 1.0pp above **market** (98c) as Dutch Bros progresses toward 1,321 shops in 2026.

### Who Wins and Why

| Outcome | Market | Model | Why |
| --- | --- | --- | --- |
| Above 1300 | 98.0% | 99.0% | Research does not highlight strong supporting evidence. |
| Above 1310 | 0.0% | 20.0% | Research does not highlight strong supporting evidence. |
| Above 1320 | 0.0% | 20.0% | Research does not highlight strong supporting evidence. |

## Model vs Market

| Outcome | Market Probability | Octagon Model Probability |
| --- | --- | --- |
| Above 1300 | 98.0% | 99.0% |
| Above 1310 | 0.0% | 20.0% |
| Above 1320 | 0.0% | 20.0% |
| Above 1330 | 0.0% | 15.0% |
| Above 1340 | 0.0% | 5.0% |

- Expiration: May 20, 2027

## Market Behavior & Price Dynamics

This market experienced a rapid upward repricing on August 13-14. The contract opened with a 1.0% probability before jumping to 39.0% and quickly settling at 98.0%. This sharp move directly corresponds to the release of Dutch Bros' Q2 2026 financials, which reported a total of 1,225 shops as of June 30, 2026. The market's implied question appears to be whether the company will reach 1300 total shops by fiscal year-end. The immediate repricing to near-certainty suggests traders view the Q2 shop count as a strong indicator that the company is on track to meet this target.

Total traded volume is low at 47 contracts, indicating limited market depth. The major price adjustments occurred with little to no traded volume, suggesting the move was driven by a market maker reacting to the public earnings data rather than a consensus formed through heavy trading activity. The 98.0% level now acts as a firm price ceiling and support level. Market sentiment, as reflected by the chart, is one of extremely high conviction that the year-end shop count will meet or exceed the 1300-shop threshold. Any movement away from this price would require new information contradicting the growth trajectory established in the Q2 report.

## Contract Snapshot

This Kalshi market concerns the total number of Dutch Bros shops in fiscal year 2026. A "Yes" resolution occurs if the final shop count is above the specific strike price, while a "No" resolution occurs if it is at or below that number. Trading for this market concludes on February 19 at 4:00 PM EST, with a maximum payout date of May 20, 2027; no special settlement conditions are detailed.

## Market Discussion

As of June 30, 2026, Dutch Bros reported 1,225 system shops and is maintaining its target of opening at least 185 new system shops for the full fiscal year 2026 [[^]](https://s28.q4cdn.com/741412594/files/doc_financials/2026/q2/Q2-2026-Dutch-Bros-Investor-Presentation.pdf)[[^]](https://www.sec.gov/Archives/edgar/data/1866581/000186658126000131/a2026-q2_ex991.htm)[[^]](https://www.fool.com/earnings/call-transcripts/2026/08/13/dutch-bros-bros-q2-2026-earnings-call-transcript/). The company also holds a long-term strategic goal of reaching 2,029 shops by the end of 2029 [[^]](https://www.qsrmagazine.com/story/dutch-bros-builds-growth-formula-that-keeps-delivering/)[[^]](https://www.qsrmagazine.com/story/dutch-bros-leans-into-expansion-and-efficiency-to-build-more-momentum/)[[^]](https://investor.wedbush.com/wedbush/article/bizwire-2026-2-12-dutch-bros-inc-reports-fourth-quarter-and-fiscal-year-2025-financial-results). However, following the Q2 2026 earnings release, Dutch Bros stock experienced a sell-off due to investor concerns over decelerating same-store sales growth, despite the company raising its full-year guidance for revenue and EBITDA [[^]](https://www.sec.gov/Archives/edgar/data/1866581/000186658126000131/a2026-q2_ex991.htm)[[^]](https://seekingalpha.com/article/4936520-dutch-bros-stock-earnings-selloff-offers-opportunity)[[^]](https://www.fool.com/investing/2026/08/09/why-the-20-sell-off-in-dutch-bros-stock-is-a-massi/).

## Market Data

| Contract | Yes Bid | Yes Ask | Last Price | Volume | Open Interest |
| --- | --- | --- | --- | --- | --- |
| Above 1300 | 98% | 99% | 98% | $47 | $47 |
| Above 1310 | 97% | 98% | 0% | $0 | $0 |
| Above 1320 | 80% | 88% | 0% | $0 | $0 |
| Above 1330 | 46% | 54% | 0% | $0 | $0 |
| Above 1340 | 43% | 55% | 0% | $0 | $0 |

## What is the projected impact of the Salad and Go real estate acquisition on Dutch Bros' new shop opening timeline for the second half of fiscal 2026?

Acquisition Cost | $105 million [[^]](https://www.restaurantdive.com/news/dutch-bros-buys-65-salad-go-units/827182/)[[^]](https://www.qsrmagazine.com/story/dutch-bros-strikes-105-million-deal-for-salad-and-go-locations/)[[^]](https://www.financialcontent.com/article/bizwire-2026-8-5-dutch-bros-accelerates-its-expansion-with-strategic-site-acquisition-in-key-growth-markets) |
Acquired Locations | Up to 65 Salad and Go locations [[^]](https://www.restaurantdive.com/news/dutch-bros-buys-65-salad-go-units/827182/)[[^]](https://www.qsrmagazine.com/story/dutch-bros-strikes-105-million-deal-for-salad-and-go-locations/)[[^]](https://www.financialcontent.com/article/bizwire-2026-8-5-dutch-bros-accelerates-its-expansion-with-strategic-site-acquisition-in-key-growth-markets) |
FY2026 Shop Opening Guidance | At least 150 system shops [[^]](https://www.roic.ai/quote/BROS/transcripts/2026-year/2-quarter) |

**Dutch Bros recently acquired real estate and site assets**

Dutch Bros recently acquired real estate and site assets. On August 5, 2026, Dutch Bros announced an agreement to purchase the real estate and site assets of up to 65 Salad and Go locations across Arizona, Nevada, Oklahoma, and Texas for **$105** million [[^]](https://www.restaurantdive.com/news/dutch-bros-buys-65-salad-go-units/827182/)[[^]](https://www.qsrmagazine.com/story/dutch-bros-strikes-105-million-deal-for-salad-and-go-locations/)[[^]](https://www.financialcontent.com/article/bizwire-2026-8-5-dutch-bros-accelerates-its-expansion-with-strategic-site-acquisition-in-key-growth-markets).

This acquisition will not impact 2026 shop opening timelines. Dutch Bros expects to begin converting and opening these acquired sites in 2027 [[^]](https://www.restaurantdive.com/news/dutch-bros-buys-65-salad-go-units/827182/)[[^]](https://www.financialcontent.com/article/bizwire-2026-8-5-dutch-bros-accelerates-its-expansion-with-strategic-site-acquisition-in-key-growth-markets)[[^]](https://www.azcentral.com/story/money/business/consumers/2026/08/05/salad-and-go-dutch-bros-purchase/91186661007/). The company has stated that this acquisition is projected to have no effect on its new shop opening timeline for the second half of fiscal 2026 [[^]](https://www.restaurantdive.com/news/dutch-bros-buys-65-salad-go-units/827182/)[[^]](https://www.financialcontent.com/article/bizwire-2026-8-5-dutch-bros-accelerates-its-expansion-with-strategic-site-acquisition-in-key-growth-markets)[[^]](https://www.azcentral.com/story/money/business/consumers/2026/08/05/salad-and-go-dutch-bros-purchase/91186661007/). As of August 2026, Dutch Bros reaffirmed its existing guidance to open at least 150 system shops in fiscal year 2026, a target independent of the Salad and Go acquisition [[^]](https://www.roic.ai/quote/BROS/transcripts/2026-year/2-quarter).

## How does Dutch Bros' actual new shop opening rate in the first half of 2026 track against its full-year guidance of opening at least 185 stores?

Net new shops opened H1 2026 | 89 shops [[^]](https://www.stocktitan.net/news/BROS/dutch-bros-inc-reports-second-quarter-2026-financial-u7rty6eve6u9.html)[[^]](https://www.stocktitan.net/sec-filings/BROS/10-q-dutch-bros-inc-quarterly-earnings-report-8df57feb7eca.html)[[^]](https://www.sec.gov/Archives/edgar/data/1866581/000186658126000006/bros-20251231.htm) |
Full-year 2026 guidance | at least 185 new system shops [[^]](https://www.stocktitan.net/news/BROS/dutch-bros-inc-reports-second-quarter-2026-financial-u7rty6eve6u9.html)[[^]](https://www.foodbusinessmea.com/dutch-bros-reports-32-5-revenue-growth-in-q2-2026/)[[^]](https://www.businesswire.com/news/home/20260506549768/en/Dutch-Bros-Inc.-Reports-First-Quarter-2026-Financial-Results) |
Total shops as of June 30, 2026 | 1,225 shops [[^]](https://www.stocktitan.net/news/BROS/dutch-bros-inc-reports-second-quarter-2026-financial-u7rty6eve6u9.html)[[^]](https://www.stocktitan.net/sec-filings/BROS/10-q-dutch-bros-inc-quarterly-earnings-report-8df57feb7eca.html)[[^]](https://www.sec.gov/Archives/edgar/data/1866581/000186658126000006/bros-20251231.htm) |

**Dutch Bros opened 89 new shops in the first half of 2026**

Dutch Bros opened 89 new shops in the first half of 2026. This performance demonstrates strong progress toward its annual expansion goals, representing approximately **48%** of its minimum full-year guidance to open at least 185 new system shops for 2026 [[^]](https://www.stocktitan.net/news/BROS/dutch-bros-inc-reports-second-quarter-2026-financial-u7rty6eve6u9.html)[[^]](https://www.stocktitan.net/sec-filings/BROS/10-q-dutch-bros-inc-quarterly-earnings-report-8df57feb7eca.html)[[^]](https://www.sec.gov/Archives/edgar/data/1866581/000186658126000006/bros-20251231.htm). The company has confirmed its commitment to this full-year guidance [[^]](https://www.stocktitan.net/news/BROS/dutch-bros-inc-reports-second-quarter-2026-financial-u7rty6eve6u9.html)[[^]](https://www.foodbusinessmea.com/dutch-bros-reports-32-5-revenue-growth-in-q2-2026/)[[^]](https://www.businesswire.com/news/home/20260506549768/en/Dutch-Bros-Inc.-Reports-First-Quarter-2026-Financial-Results).

The total shop count significantly increased by June 30, 2026. Dutch Bros' total shop count grew from 1,136 shops as of December 31, 2025, to 1,225 shops by June 30, 2026 [[^]](https://www.stocktitan.net/news/BROS/dutch-bros-inc-reports-second-quarter-2026-financial-u7rty6eve6u9.html)[[^]](https://www.stocktitan.net/sec-filings/BROS/10-q-dutch-bros-inc-quarterly-earnings-report-8df57feb7eca.html)[[^]](https://www.sec.gov/Archives/edgar/data/1866581/000186658126000006/bros-20251231.htm).

## How do the 2026 U.S. expansion strategies and store opening targets of Dutch Bros and Starbucks compare?

Dutch Bros 2026 Net New Shops | At least 185 (net new system shops) [[^]](https://www.qsrmagazine.com/story/dutch-bros-builds-growth-formula-that-keeps-delivering/)[[^]](https://www.sec.gov/Archives/edgar/data/1866581/000186658126000131/a2026-q2_ex991.htm) |
Starbucks 2026 Global New Stores | 600 to 650 (globally) [[^]](https://investor.starbucks.com/news/financial-releases/news-details/2026/Starbucks-Reports-Q2-Fiscal-Year-2026-Results/default.aspx)[[^]](https://www.sec.gov/Archives/edgar/data/829224/000082922426000129/sbux-06282026xearningsrele.htm)[[^]](https://retailgazette.com/blog/2026/02/starbucks-plans-up-to-175-new-u-s-stores-in-2026-flags-major-long-term-growth-opportunity/) |
Starbucks 2026 US Company Stores | 150 to 175 (US company-operated) [[^]](https://investor.starbucks.com/news/financial-releases/news-details/2026/Starbucks-Reports-Q2-Fiscal-Year-2026-Results/default.aspx)[[^]](https://www.sec.gov/Archives/edgar/data/829224/000082922426000129/sbux-06282026xearningsrele.htm)[[^]](https://retailgazette.com/blog/2026/02/starbucks-plans-up-to-175-new-u-s-stores-in-2026-flags-major-long-term-growth-opportunity/) |

**Dutch Bros and Starbucks reveal distinct 2026 expansion targets and strategies**

Dutch Bros and Starbucks reveal distinct 2026 expansion targets and strategies. Dutch Bros aims for at least 185 net new system shops, a slight increase from its initial target of 181, focusing primarily on U.S. expansion [[^]](https://www.qsrmagazine.com/story/dutch-bros-builds-growth-formula-that-keeps-delivering/)[[^]](https://www.sec.gov/Archives/edgar/data/1866581/000186658126000131/a2026-q2_ex991.htm). In contrast, Starbucks projects approximately 600 to 650 net new store openings globally for the same fiscal year [[^]](https://investor.starbucks.com/news/financial-releases/news-details/2026/Starbucks-Reports-Q2-Fiscal-Year-2026-Results/default.aspx)[[^]](https://www.sec.gov/Archives/edgar/data/829224/000082922426000129/sbux-06282026xearningsrele.htm)[[^]](https://retailgazette.com/blog/2026/02/starbucks-plans-up-to-175-new-u-s-stores-in-2026-flags-major-long-term-growth-opportunity/). Their strategies diverge significantly, with Dutch Bros prioritizing rapid geographic growth and **market** densification, while Starbucks emphasizes enhancing existing stores and developing new flexible store formats [[^]](https://www.qsrmagazine.com/story/dutch-bros-builds-growth-formula-that-keeps-delivering/)[[^]](https://www.qsrmagazine.com/story/starbucks-lays-out-aggressive-global-growth-plan/).

Dutch Bros prioritizes rapid geographic expansion and **market** densification for growth. Its 2026 expansion strategy emphasizes high-productivity geographic expansion and further densification within its current U.S. markets [[^]](https://www.qsrmagazine.com/story/dutch-bros-builds-growth-formula-that-keeps-delivering/)[[^]](https://www.qsrmagazine.com/story/as-beverage-competition-heats-up-dutch-bros-keeps-winning-traffic/). This organic growth is supplemented by strategic acquisitions, such as Clutch Coffee and Salad and Go locations [[^]](https://www.qsrmagazine.com/story/dutch-bros-builds-growth-formula-that-keeps-delivering/). As of June 30, 2026, Dutch Bros operated a total of 1,225 system shops, reflecting a net increase of 89 shops since the end of 2025, when the count was 1,136 [[^]](https://www.sec.gov/Archives/edgar/data/1866581/000186658126000131/a2026-q2_ex991.htm). Based on their annual target of at least 185 new openings for 2026, Dutch Bros is projected to reach approximately 1,321 shops by year-end, not accounting for any future unannounced acquisitions [[^]](https://www.sec.gov/Archives/edgar/data/1866581/000186658126000131/a2026-q2_ex991.htm).

Starbucks' 2026 strategy centers on enhancing existing stores and new flexible formats. This strategy is an integral part of its 'Back to Starbucks' turnaround plan, which includes substantial 'uplifts' to refresh existing cafes [[^]](https://www.qsrmagazine.com/story/starbucks-lays-out-aggressive-global-growth-plan/). The company also focuses on improving throughput and service times, alongside introducing new, flexible store designs like the 'Ristretto' **model** to support various service options, including cafe, drive-thru, and mobile ordering [[^]](https://www.qsrmagazine.com/story/starbucks-lays-out-aggressive-global-growth-plan/). Of its projected 600 to 650 global net new store openings for fiscal 2026, Starbucks anticipates 150 to 175 will be new company-operated stores within the United States, with the remaining 450 to 500 planned internationally [[^]](https://investor.starbucks.com/news/financial-releases/news-details/2026/Starbucks-Reports-Q2-Fiscal-Year-2026-Results/default.aspx)[[^]](https://www.sec.gov/Archives/edgar/data/829224/000082922426000129/sbux-06282026xearningsrele.htm)[[^]](https://retailgazette.com/blog/2026/02/starbucks-plans-up-to-175-new-u-s-stores-in-2026-flags-major-long-term-growth-opportunity/).

## What public data sources, from local construction permits to real estate filings, can be used to track the progress of new Dutch Bros locations scheduled to open in late 2026?

Annual new shop growth rate | mid-teens [[^]](https://www.businesswire.com/news/home/20260805022283/en/Dutch-Bros-Inc.-Reports-Second-Quarter-2026-Financial-Results) |
Total shops (end of 2025) | 1,136 shops [[^]](https://www.businesswire.com/news/home/20260805022283/en/Dutch-Bros-Inc.-Reports-Second-Quarter-2026-Financial-Results) |
Key tracking sources | Municipal building permit portals, zoning agendas, property records, SEC filings [[^]](https://theamericandeveloper.com/guides/track-commercial-real-estate-deal-flow/)[[^]](https://archive.ph/F7QdF)[[^]](https://pagecrawl.io/blog/local-zoning-planning-permit-monitoring)[[^]](https://dev.to/avabuildsdata/how-commercial-real-estate-brokers-use-building-permit-data-to-find-pre-market-leads-1m5c) |

**Public records offer multiple avenues for tracking new Dutch Bros locations**

Public records offer multiple avenues for tracking new Dutch Bros locations. Monitoring public data sources such as municipal building permit portals, zoning and land-use planning commission agendas, property deed transfer records, and SEC filings can reveal progress [[^]](https://theamericandeveloper.com/guides/track-commercial-real-estate-deal-flow/)[[^]](https://archive.ph/F7QdF)[[^]](https://pagecrawl.io/blog/local-zoning-planning-permit-monitoring)[[^]](https://dev.to/avabuildsdata/how-commercial-real-estate-brokers-use-building-permit-data-to-find-pre-**market**-leads-1m5c). Effective tracking involves following the full development sequence, from initial rezoning hearings through building permit applications, permit issuance, and ultimately, final inspections or certificates of occupancy [[^]](https://theamericandeveloper.com/guides/track-commercial-real-estate-deal-flow/)[[^]](https://pagecrawl.io/blog/local-zoning-planning-permit-monitoring)[[^]](https://dev.to/avabuildsdata/how-commercial-real-estate-brokers-use-building-permit-data-to-find-pre-**market**-leads-1m5c). Automated monitoring is possible using saved searches or web-monitoring tools on city and county open-data portals, filtering for commercial development or specific mentions of "Dutch Bros" [[^]](https://archive.ph/F7QdF)[[^]](https://pagecrawl.io/blog/local-zoning-planning-permit-monitoring).

Dutch Bros maintains a strong expansion trajectory, adding new shops annually. As of early August 2026, the company reports an active "mid-teens" annual new shop growth rate [[^]](https://www.businesswire.com/news/home/20260805022283/en/Dutch-Bros-Inc.-Reports-Second-Quarter-2026-Financial-Results). By the close of 2025, Dutch Bros had reported a total of 1,136 shops [[^]](https://www.businesswire.com/news/home/20260805022283/en/Dutch-Bros-Inc.-Reports-Second-Quarter-2026-Financial-Results). The company further demonstrated consistent revenue growth throughout the first half of 2026 [[^]](https://www.businesswire.com/news/home/20260805022283/en/Dutch-Bros-Inc.-Reports-Second-Quarter-2026-Financial-Results)[[^]](https://www.stocktitan.net/sec-filings/BROS/10-k-dutch-bros-inc-files-annual-report-5b778770aa7c.html)[[^]](https://www.qsrmagazine.com/story/dutch-bros-leans-into-expansion-and-efficiency-to-build-more-momentum/).

## What macroeconomic headwinds, such as commercial construction costs or permitting delays in key states, could slow Dutch Bros' development pipeline in H2 2026?

Full-year 2026 Shop Openings Guidance | At least 185 systemwide shop openings [[^]](https://s28.q4cdn.com/741412594/files/doc_financials/2026/q2/Q2-2026-Dutch-Bros-Investor-Presentation.pdf)[[^]](https://finance.yahoo.com/markets/stocks/articles/dutch-bros-inc-reports-second-200600117.html)[[^]](https://www.stocktitan.net/sec-filings/BROS/8-k-dutch-bros-inc-reports-material-event-3992b598bd4c.html) |
Total Shops (as of June 30, 2026) | 1,225 shops [[^]](https://finance.yahoo.com/markets/stocks/articles/dutch-bros-inc-reports-second-200600117.html)[[^]](https://www.stocktitan.net/sec-filings/BROS/8-k-dutch-bros-inc-reports-material-event-3992b598bd4c.html) |
Key H2 2026 Development Headwinds | Construction cost inflation, federal regulatory/permitting delays [[^]](https://fmicorp.com/uploads/media/Q2_Outlook_2026.pdf)[[^]](https://www.aia.org/resource-center/july-2026-consensus-construction-forecast)[[^]](https://www.commercebank.com/business/trends-and-insights/2026/constructions-mid-year-assessment) |

**Macroeconomic headwinds pose significant challenges to Dutch Bros' development pipeline in the second half of 2026**

Macroeconomic headwinds pose significant challenges to Dutch Bros' development pipeline in the second half of 2026. These challenges are primarily driven by construction cost inflation, which is further exacerbated by factors such as the ongoing Iran conflict and energy price volatility [[^]](https://fmicorp.com/uploads/media/Q2_Outlook_2026.pdf)[[^]](https://www.aia.org/resource-center/july-2026-consensus-construction-forecast)[[^]](https://www.commercebank.com/business/trends-and-insights/2026/constructions-mid-year-assessment). Additionally, federal regulatory and permitting delays are contributing to a difficult operating environment for nonresidential development [[^]](https://fmicorp.com/uploads/media/Q2_Outlook_2026.pdf)[[^]](https://www.aia.org/resource-center/july-2026-consensus-construction-forecast)[[^]](https://www.commercebank.com/business/trends-and-insights/2026/constructions-mid-year-assessment).

Dutch Bros remains committed to growth despite external economic pressures. The company has affirmed its full-year 2026 guidance, aiming for at least 185 new systemwide shop openings [[^]](https://s28.q4cdn.com/741412594/files/doc_financials/2026/q2/Q2-2026-Dutch-Bros-Investor-Presentation.pdf)[[^]](https://finance.yahoo.com/markets/stocks/articles/dutch-bros-inc-reports-second-200600117.html)[[^]](https://www.stocktitan.net/sec-filings/BROS/8-k-dutch-bros-inc-reports-material-event-3992b598bd4c.html). Dutch Bros is actively mitigating development risks through strategic initiatives. These include acquisitions, such as the purchase of its Phoenix franchisee, and the conversion of existing properties, including planned Salad and Go sites [[^]](https://www.fool.com/earnings/call-transcripts/2026/08/13/dutch-bros-bros-q2-2026-earnings-call-transcript/)[[^]](https://www.qsrmagazine.com/story/dutch-bros-builds-growth-formula-that-keeps-delivering/)[[^]](https://www.roic.ai/quote/BROS/transcripts/2026-year/2-quarter). As of June 30, 2026, Dutch Bros reported a total of 1,225 shops across its system [[^]](https://finance.yahoo.com/markets/stocks/articles/dutch-bros-inc-reports-second-200600117.html)[[^]](https://www.stocktitan.net/sec-filings/BROS/8-k-dutch-bros-inc-reports-material-event-3992b598bd4c.html).

## What Could Change the Odds

**Dutch Bros projects at least 185 total system shop openings for fiscal 2026, building on the 1,225 total locations operated as of June 30, 2026 [[^]](https://finance.yahoo.com/markets/stocks/articles/dutch-bros-inc-reports-second-200600117.html)[[^]](https://www.stocktitan.net/sec-filings/BROS/8-k-dutch-bros-inc-reports-material-event-3992b598bd4c.html)[[^]](https://longbridge.com/news/295010829).** This aggressive footprint expansion, alongside successful food and energy platform rollouts and consistent transaction growth, represents a bullish catalyst [[^]](https://seekingalpha.com/article/4936520-dutch-bros-stock-earnings-selloff-offers-opportunity). The company's full-year 2026 financial guidance, raised in August 2026, anticipates total revenue between **$2.1** billion and **$2.13** billion, with systemwide same-shop sales growth of **5%** to **6%** [[^]](https://s28.q4cdn.com/741412594/files/doc_financials/2026/q2/Q2-2026-Dutch-Bros-Investor-Presentation.pdf)[[^]](https://finance.yahoo.com/markets/stocks/articles/dutch-bros-inc-reports-second-200600117.html)[[^]](https://longbridge.com/news/295010829). Adjusted EBITDA is projected between **$385** million and **$390** million, and capital expenditures are expected to range from **$350** million to **$370** million [[^]](https://s28.q4cdn.com/741412594/files/doc_financials/2026/q2/Q2-2026-Dutch-Bros-Investor-Presentation.pdf)[[^]](https://finance.yahoo.com/markets/stocks/articles/dutch-bros-inc-reports-second-200600117.html)[[^]](https://longbridge.com/news/295010829).

**Bearish concerns include a potential slowing of same-shop sales growth in the second half of 2026 due to difficult comparisons [[^]](https://seekingalpha.com/article/4936520-dutch-bros-stock-earnings-selloff-offers-opportunity)[[^]](https://www.fool.com/investing/2026/08/09/why-the-20-sell-off-in-dutch-bros-stock-is-a-massi/)[[^]](https://stockstory.org/us/stocks/nyse/bros/news/earnings-call/bros-q2-deep-dive-food-rollout-and-energy-platform-drive-growth-amid-margin-pressures)[[^]](https://longbridge.com/news/295010829).** Margin compression from rising input and occupancy costs also presents a challenge [[^]](https://seekingalpha.com/article/4936520-dutch-bros-stock-earnings-selloff-offers-opportunity)[[^]](https://www.fool.com/investing/2026/08/09/why-the-20-sell-off-in-dutch-bros-stock-is-a-massi/)[[^]](https://stockstory.org/us/stocks/nyse/bros/news/earnings-call/bros-q2-deep-dive-food-rollout-and-energy-platform-drive-growth-amid-margin-pressures)[[^]](https://longbridge.com/news/295010829). Additionally, the company's valuation metrics remain high [[^]](https://seekingalpha.com/article/4936520-dutch-bros-stock-earnings-selloff-offers-opportunity)[[^]](https://www.fool.com/investing/2026/08/09/why-the-20-sell-off-in-dutch-bros-stock-is-a-massi/)[[^]](https://stockstory.org/us/stocks/nyse/bros/news/earnings-call/bros-q2-deep-dive-food-rollout-and-energy-platform-drive-growth-amid-margin-pressures)[[^]](https://longbridge.com/news/295010829).

## Key Dates & Catalysts

- **Expiration:** May 20, 2027
- **Closes:** May 20, 2027

## Decision-Flipping Events

- Dutch Bros projects at least 185 total system shop openings for fiscal 2026, building on the 1,225 total locations operated as of June 30, 2026 [^] [^] [^] .
- This aggressive footprint expansion, alongside successful food and energy platform rollouts and consistent transaction growth, represents a bullish catalyst [^] .
- The company's full-year 2026 financial guidance, raised in August 2026, anticipates total revenue between **$2.1** billion and **$2.13** billion, with systemwide same-shop sales growth of **5%** to **6%** [^] [^] [^] .
- Adjusted EBITDA is projected between **$385** million and **$390** million, and capital expenditures are expected to range from **$350** million to **$370** million [^] [^] [^] .

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## Historical Resolutions

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