Dutch Bros plans more locations in 2026 after growing revenue by nearly 30% in 2025
After a record-breaking $1.64 billion year, drive-through coffee company Dutch Bros is laying the groundwork for even more growth in 2026, with more new locations and an expanded food program.
The company plans to open approximately 181 stores this year as it moves toward a goal of 2,029 stores by 2029. Already, Dutch Bros has more than doubled its footprint in the last five years: It currently has about 1,136 locations in 25 states, up from about 470 stores in 11 states in June 2021. Overall, its revenue grew to $1.64 billion in 2025, up 27.9% year over year.
CEO Christine Barone said on the company’s fourth-quarter earnings call on Thursday that Dutch Bros’ store growth plans include testing different formats, like walk-up stores. It’s also bringing a food menu it piloted last year to more locations — the menu features new breakfast items like chorizo wraps and maple waffles.
“We’re right in the sweet spot of where the growth market is,” she said. “It’s about convenience. It’s about energy. It’s about iced. And we have the best teams and energy in this industry.”
Founded in Oregon in 1992, the company has grown from a regional speciality to a sought-after drive-through tenant known for flavorful iced coffees, customizable energy drinks and high-energy “broistas” who take customer orders in winding drive-through lanes. It went public five years ago, and Barone, formerly of True Food Kitchen and Starbucks, joined the company as president in 2023 before becoming CEO in January 2024.
But beyond the brand’s popularity, Dutch Bros’ growth points to what’s working in commercial real estate.
Mike Conroy, executive director at Bay Area real estate firm The Econic Company, said property owners get excited about landing Dutch Bros as a tenant not just because it has a “cult following” that drives lines and traffic, but also because it’s a strong public company with good credit. “You know you’re going to get a return on your investment,” he said.
From a logistical standpoint, Conroy said Dutch Bros locations can fit well into properties because they are only about 900 square feet and have large drive-through lines. “The creative groups are rewarded,” he said. “They’ve been so successful at making difficult [retail] sites work — not just because people think they’re cool, but also because their operations team is great.”
Isaiah Harf, regional managing director at Northmarq, said property owners are also attracted to Dutch Bros because the company shows strong sales in every market it enters.
“Dutch understands their consumer and their relationship within communities,” he said. “Oftentimes, you find them on main thoroughfares or near mature and growing suburban household formations.”
On Thursday’s earnings call, Barone said the company’s footprint growth plans come down to finding “great real estate.” Most recently, that included acquiring 20 stores from Clutch Coffee Bar, a regional chain in the Carolinas, which it will convert into Dutch Bros this year.
Barone also praised the debut of a Dutch Bros walk-up shop that opened in downtown Los Angeles in the fourth quarter of 2025. It quickly became a top-performing shop, with as many as three times the system average in order-ahead transactions.
“This shop provides a valuable platform for insights into urban dense corridors where drive-throughs are harder to build,” Barone said.
Beyond opening more locations, Barone said Dutch Bros plans to propel same-store growth and customer acquisition by adding more food items. The program debuted a year ago with four shops in Phoenix and is now in 300 shops across 11 states. The plan is to expand it to nationwide locations by the end of 2026.
To help support store growth and operations, Dutch Bros recently appointed Jennifer Somers, a 10-year executive at Cava, as Chief Shops Officer. Barone said Thursday that Somers will focus on supporting store operations and “broistas” — the company’s moniker for store employees — as new initiatives, like the food menu, roll out.
“Collectively, these initiatives strengthen our scalable shop operating system — one designed to increase speed, provide greater convenience and drive share-taking growth,” Barone said.