Dutch Bros' 7,000-Unit Growth Path: Is the Model Positioned to Scale?

Key Takeaways Dutch Bros reiterated a 7,000-shop TAM, ending 2025 with 1,136 locations across 25 states.BROS saw record AUVs and opened a top-performing urban walk-up site in Los Angeles.Dutch Bros nearly doubled regional operator candidates since 2022, targeting 2,029 shops by 2029.Dutch Bros Inc. (BROS) exited 2025 with increased visibility into its long-term development framework, as management reiterated a 7,000-shop total addressable market (TAM) and closed the year with 1,136 system locations across 2 ...