Dutch Bros Inc. shares fell sharply by 6.03% in pre-market trading on Thursday, extending losses from the previous session following the release of the company's first-quarter financial results.

The coffee chain reported quarterly earnings of 13 cents per share, which missed the consensus analyst estimate of 15 cents per share. While the company's revenue of $464.4 million exceeded expectations of $449.6 million, the earnings shortfall appears to have disappointed investors who had driven the stock up 12.9% during the quarter leading up to the report.

Analyst sentiment had shown signs of caution ahead of the earnings release, with the mean earnings estimate falling by approximately 12.4% over the previous three months and three analysts negatively revising their estimates in the last 30 days. The mixed analyst reactions following the report, including both target price increases and decreases, reflect ongoing uncertainty about the company's near-term prospects.