Dutch Bros Inc. (BROS) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 06, 2026

Risk Assessment Details

Potential Dilution: 19.01% of current shares
Recent Dilution: 47.95% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
130M
Potential Supply
24M
Additional shares possible
Splits
None
Past 2 years

Summary

BROS currently has 127M outstanding shares. with limited dilution risk as only 24.2M additional shares (19.0%) are authorized for issuance. The company has significantly diluted shareholders by 47.95% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 06, 2026

10-Q filing | 127.4M shares outstanding

130M 24M
May 08, 2025

10-Q filing | 121.5M shares outstanding

120M 24M
Feb 13, 2025

10-K filing | 116.2M shares outstanding

120M 24M
Nov 07, 2024

10-Q filing | 113.8M shares outstanding

110M 24M
Aug 08, 2024

10-Q filing | 113.8M shares outstanding

110M 24M
Jun 12, 2024

8-K filing: Dutch Mafia, LLC sold 8,762,700 shares of the Company's Class A common stock at $39.30 per share in a registered underwritten public offering.

83M 24M
May 08, 2024

10-Q filing | 83.4M shares outstanding

83M 24M
Mar 26, 2024

8-K filing: Selling Stockholders sold 8,000,000 shares of Class A common stock at $34.00 per share in a registered underwritten public offering, with an option for the underwriter to purchase an additional 1,200,000 shares.

71M 24M
Mar 01, 2024

8-K filing: Dutch Bros Inc. announces the sale of 8,000,000 shares of Class A common stock by Selling Stockholders at an offering price of $29.05 per share.

71M 24M
Feb 23, 2024

10-K filing | 70.5M shares outstanding

71M 24M
Nov 08, 2023

10-Q filing | 60.2M shares outstanding

60M 24M
Sep 08, 2023

8-K filing: Dutch Bros Inc. announced an underwritten offering of 11,538,461 shares of Class A common stock at $26.00 per share, with an option for underwriters to purchase an additional 1,730,769 shares; the offering is expected to close on or about September 12, 2023. ($300.0M proceeds)

46M 24M
Aug 09, 2023

10-Q filing | 45.7M shares outstanding

46M 24M
May 10, 2023

10-Q filing | 45.7M shares outstanding

46M 24M
Feb 27, 2023

10-K filing | 45.7M shares outstanding

46M 24M
Nov 10, 2022

10-Q filing | 45.5M shares outstanding

46M 24M
Aug 11, 2022

10-Q filing | 39.6M shares outstanding

40M 24M
May 12, 2022

10-Q filing | 39.6M shares outstanding

40M 24M
Mar 11, 2022

10-K filing | 34.6M shares outstanding

35M 24M
Nov 12, 2021

10-Q filing | 34.4M shares outstanding

34M 24M
Sep 13, 2021

S-1/A filing: Dutch Bros Inc. is offering Class A common stock.

31M 24M
Sep 07, 2021

S-1/A filing: Dutch Bros Inc. is offering Class A common stock.

31M 21M
Aug 20, 2021

S-1 filing: This S-1 filing outlines an initial public offering (IPO) involving a reorganization into an UP-C structure and the offering of Class A common stock, with proceeds used to purchase Class A common units and Class D common stock.

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