Grants Pass, Ore. (AP) — Dutch Bros Inc., the popular drive-thru coffee chain based in Grants Pass, Oregon, reported impressive financial results for the third quarter. The company announced a net income of $12.6 million, equating to a profit of 11 cents per share.

After adjusting for one-time gains and expenses, the company’s earnings came to 16 cents per share. This figure beat the expectations of Wall Street analysts. According to Zacks Investment Research, the average forecast by six analysts was for Dutch Bros to earn 12 cents per share.

Revenue for the quarter also exceeded predictions. The company posted $338.2 million in revenue, higher than the $324.4 million expected by analysts surveyed by Zacks. Dutch Bros attributes its strong performance to the success of its drive-thru coffee locations and effective expansion strategies.

Looking ahead, Dutch Bros has set a target for full-year revenue between $1.25 billion and $1.26 billion.

The company’s stock performance has been noteworthy as well. Since the start of the year, Dutch Bros shares have climbed 10%. By the end of trading on Wednesday, the stock price reached $34.94, representing a significant 31% increase over the past 12 months.

Dutch Bros continues to impress investors with its steady growth and strong quarterly results, solidifying its position as a major player in the drive-thru coffee market.