Dutch Bros. CEO Christine Barone: Our total addressable market is about 7,000 shops

Financial Performance - Dutch Bros reported a top and bottom line beat, although the stock initially reacted negatively [1] - Same shop sales were up 57% on a blended average basis [3] - Company-owned same shop sales increased by 74% [4] Expansion and Market Opportunity - Dutch Bros has expanded to 24 states with approximately 1,081 shops [4] - The total addressable market is estimated to be around 7,000 shops [5] - The company has no problem finding and opening new shops [5] - There are no Dutch Bros shops in the Northeast yet, and the company just opened its first shop in Illinois [10] Customer Engagement and Trends - Mobile orders account for 13% of transactions and are growing [11] - The Dutch Rewards program accounts for 72% of transactions [12] - Half of the beverages sold are coffee, while the other half are energy drinks and other beverages [13] - Gen Z customers are drawn to the customized iced drinks and the overall experience [15]