Dutch Bros, Inc. (NYSE:BROS) Q2 2024 Earnings Conference Call August 7, 2024 5:00 PM ET
Company Participants
Paddy Warren - Senior Director, IR and Capital Markets
Christine Barone - President and CEO
Josh Guenser - CFO
Conference Call Participants
Sharon Zackfia - William Blair
Andrew Charles - TD Cowen
John Ivankoe - JPMorgan
David Tarantino - Baird
Andy Barish - Jefferies
Sara Senatore - Bank of America
Chris O'Cull - Stifel
Dennis Geiger - UBS
Brian Mullan - Piper Sandler
Jeff Farmer - Gordon Haskett
Nick Setyan - Wedbush Securities
Jeffrey Bernstein - Barclays
Gregory Francfort - Guggenheim Partners
Operator
Greetings, and welcome to the Dutch Bros' Second Quarter 2024 Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Paddy Warren, Director of Investor Relations and Corporate Development. Please go ahead.
Paddy Warren
Good afternoon and welcome. I'm joined by Christine Barone, CEO and President; and Josh Guenser, CFO. We issued our earnings press release for the quarter ended June 30th, 2024, after the market closed today. The earnings press release, along with the supplemental information deck have been posted to our Investor Relations website at investors@dutchbros.com.
Please be aware that all statements in our prepared remarks and in response to your questions, other than those of historical facts, are forward-looking statements and are subject to risks, uncertainties, and assumptions that may cause actual results to differ materially.
They are qualified by the cautionary statements in our earnings press release and the risk factors in our latest SEC filings, including our most recent annual report on Form 10-K and quarterly report on Form 10-Q.
We assume no obligation to update any forward-looking statements. We will also reference non-GAAP financial measures on today's call. As a reminder, non-GAAP measures are neither substitutes for, or superior to, measures that are prepared under GAAP. Please review the reconciliation of non-GAAP measures to comparable GAAP results in our earnings press release.
With that, I'd now like to turn the call over to Christine.
Christine Barone
Thank you, Paddy. Good afternoon, everyone. Our results demonstrate the long runway of growth that lies ahead for Dutch Bros. as we once again combined strong revenue growth with expanding profitability.
During Q2, we drove a 30% revenue increase and a 34% adjusted EBITDA increase compared to the same quarter last year resulting in $325 million of revenue and $65 million of adjusted EBITDA.