Core Insights - Dutch Bros reported a 7.7% same-store sales growth and a 29% revenue growth for Q4, driven by transaction growth and new store openings [1] - The company is expanding its brand presence in new and existing markets, with plans to reach 2,029 shops by 2029, having already opened 1,136 stores by the end of FY 2025 [2] Sales and Growth Initiatives - In Q4, Dutch Bros focused on initiatives to drive transactions, including increased paid advertising and growth of its CPG line [3] - The brand awareness strategy has been amplified through the rollout of the Dutch Bros CPG platform, which has received positive customer reception and aims to convert awareness into increased shop visits [4] Food Program and Store Performance - The food program, which began as a beta test in Phoenix, has expanded to 300 stores across 11 states, contributing to ticket and transaction lifts in participating locations [4] - The first walk-up window-style store in downtown Los Angeles has become the best-performing store since its opening, with an order ahead mix over three times the average [5] Future Outlook - Dutch Bros expects full-year same-store sales growth to be between 3% and 5%, driven by transaction growth, the continued rollout of the food program, and store growth [6] - The company anticipates a 16% shop growth in 2026, including conversions of Clutch Coffee, which was acquired in January [6]