Dutch Bros Inc. reported second-quarter 2025 revenue of $415.8 million, up 28 % from a year earlier and ahead of analysts’ expectations of about $404 million. Adjusted earnings per share rose to $0.26, beating the $0.18 consensus, as system-wide same-shop sales increased 6.1 % and company-operated locations posted 7.8 % growth. Buoyed by the stronger-than-expected quarter, the drive-through coffee chain raised its full-year outlook. Management now projects 2025 revenue of $1.59 billion to $1.60 billion and adjusted EBITDA of $285 million to $290 million, up from prior guidance. Dutch Bros opened 31 new shops in the quarter, bringing its footprint to 1,053 locations in 19 states, and remains on track for at least 160 openings this year. The company reiterated a long-term goal of roughly 7,000 U.S. outlets, including 2,029 by 2029. Shares jumped more than 14 % in after-hours trading and continued to rise in pre-market dealings.