10-Q Filing

Karat Packaging Inc. CIK: 1758021 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001628280-21-017027`
Period End Date	20210630
Filing Date	20210813
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	krt-20210630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 110 Income Statement 106 Cash Flow Statement 107 Stockholders Equity 28

Balance Sheet 110 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents (including $0.2 million and $0.1 million associated with variable interest entity at June 30, 2021 and December 31, 2020)	`CashAndCashEquivalentsAtCarryingValue`	$448.00K	USD	Point-in-time
Cash and cash equivalents (including $0.2 million and $0.1 million associated with variable interest entity at June 30, 2021 and December 31, 2020)	`CashAndCashEquivalentsAtCarryingValue`	$7.68M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $0.3 million and $0.3 million at June 30, 2021 and December 31, 2020, respectively (including $0.4 million and $0.3 million associated with variable interest entity at June 30, 2021 and December 31, 2020)	`AccountsReceivableNetCurrent`	$32.60M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $0.3 million and $0.3 million at June 30, 2021 and December 31, 2020, respectively (including $0.4 million and $0.3 million associated with variable interest entity at June 30, 2021 and December 31, 2020)	`AccountsReceivableNetCurrent`	$23.84M	USD	Point-in-time
Inventories	`InventoryNet`	$62.25M	USD	Point-in-time
Inventories	`InventoryNet`	$48.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$448.00K	USD	Point-in-time
Prepaid expenses and other current assets (including $0.1 million and $0.1 million associated with variable interest entity at June 30, 2021 and December 31, 2020)	`PrepaidExpenseAndOtherAssetsCurrent`	$3.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.68M	USD	Point-in-time
Prepaid expenses and other current assets (including $0.1 million and $0.1 million associated with variable interest entity at June 30, 2021 and December 31, 2020)	`PrepaidExpenseAndOtherAssetsCurrent`	$6.53M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$105.96M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$300.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$300.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$79.78M	USD	Point-in-time
Property and equipment, net (including $47.2 million and $47.8 million associated with variable interest entity at June 30, 2021 and December 31, 2020, respectively)	`PropertyPlantAndEquipmentNet`	$92.94M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.43M	USD	Point-in-time
Property and equipment, net (including $47.2 million and $47.8 million associated with variable interest entity at June 30, 2021 and December 31, 2020, respectively)	`PropertyPlantAndEquipmentNet`	$95.53M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.53M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$92.94M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$2.46M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$95.53M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$4.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$161.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$70.00K	USD	Point-in-time
Goodwill	`Goodwill`	$3.11M	USD	Point-in-time
Goodwill	`Goodwill`	$3.51M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$393.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$24.35M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.07M	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$64.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.96M	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$64.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$6.58M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$551.00K	USD	Point-in-time
Other assets (including $0.0 million and $0.1 million associated with variable interest entity at June 30, 2021 and December 31, 2020)	`OtherAssetsNoncurrent`	$161.00K	USD	Point-in-time
Other assets (including $0.0 million and $0.1 million associated with variable interest entity at June 30, 2021 and December 31, 2020)	`OtherAssetsNoncurrent`	$70.00K	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$1.21M	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$711.00K	USD	Point-in-time
Total assets	`Assets`	$181.10M	USD	Point-in-time
Total assets	`Assets`	$207.08M	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$11.36M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$4.21M	USD	Point-in-time
Accounts payable (including $0.0 million and $0.6 million associated with variable interest entity at June 30, 2021 and December 31, 2020, respectively)	`AccountsPayableCurrent`	$24.35M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$5.05M	USD	Point-in-time
Accounts payable (including $0.0 million and $0.6 million associated with variable interest entity at June 30, 2021 and December 31, 2020, respectively)	`AccountsPayableCurrent`	$20.07M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accrued expenses (including $0.3 million and $0.1 million associated with variable interest entity at June 30, 2021 and December 31, 2020, respectively)	`AccruedLiabilitiesCurrent`	$4.96M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accrued expenses (including $0.3 million and $0.1 million associated with variable interest entity at June 30, 2021 and December 31, 2020, respectively)	`AccruedLiabilitiesCurrent`	$6.58M	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$5.04M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$3.61M	USD	Point-in-time
Credit cards payable	`CreditCardsPayableCurrent`	$794.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	15.19M	shares	Point-in-time
Credit cards payable	`CreditCardsPayableCurrent`	$125.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	19.73M	shares	Point-in-time
Line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	15.17M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	19.71M	shares	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$3.24M	USD	Point-in-time
Treasury stock, par value (in dollars per share)	`TreasuryStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$41.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Treasury stock, par value (in dollars per share)	`TreasuryStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Customer deposits (including $0.1 million and $0 million associated with variable interest entity at June 30, 2021 and December 31, 2020)	`ContractWithCustomerLiabilityCurrent`	$551.00K	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	23,000.00	shares	Point-in-time
Customer deposits (including $0.1 million and $0 million associated with variable interest entity at June 30, 2021 and December 31, 2020)	`ContractWithCustomerLiabilityCurrent`	$1.21M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	23,000.00	shares	Point-in-time
Capital leases, current portion	`FinanceLeaseLiabilityCurrent`	$321.00K	USD	Point-in-time
Capital leases, current portion	`FinanceLeaseLiabilityCurrent`	$307.00K	USD	Point-in-time
Debt, current portion (including $0.7 million and $0.7 million associated with variable interest entity at June 30, 2021 and December 31, 2020)	`LongTermDebtCurrent`	$711.00K	USD	Point-in-time
Debt, current portion (including $0.7 million and $0.7 million associated with variable interest entity at June 30, 2021 and December 31, 2020)	`LongTermDebtCurrent`	$11.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$40.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$43.14M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$6.18M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$6.18M	USD	Point-in-time
Line of credit	`LongTermLineOfCredit`	-	USD	Point-in-time
Line of credit	`LongTermLineOfCredit`	$33.17M	USD	Point-in-time
Long-term debt, net of current portion (including $36.3 million and $36.7 million associated with variable interest entity at June 30, 2021 and December 31, 2020, respectively, and debt discount of $0.1 million and $0.1 million associated with variable interest entity at June 30, 2021 and December 31, 2020, respectively)	`LongTermDebtExcludingLongTermLineOfCreditNoncurrent`	$36.34M	USD	Point-in-time
Long-term debt, net of current portion (including $36.3 million and $36.7 million associated with variable interest entity at June 30, 2021 and December 31, 2020, respectively, and debt discount of $0.1 million and $0.1 million associated with variable interest entity at June 30, 2021 and December 31, 2020, respectively)	`LongTermDebtExcludingLongTermLineOfCreditNoncurrent`	$53.41M	USD	Point-in-time
Capital leases, net of current portion	`FinanceLeaseLiabilityNoncurrent`	$129.00K	USD	Point-in-time
Capital leases, net of current portion	`FinanceLeaseLiabilityNoncurrent`	$290.00K	USD	Point-in-time
Other liabilities (including $3.0 million and $3.9 million associated with variable interest entity at June 30, 2021 and December 31, 2020, respectively)	`OtherLiabilitiesNoncurrent`	$4.21M	USD	Point-in-time
Other liabilities (including $3.0 million and $3.9 million associated with variable interest entity at June 30, 2021 and December 31, 2020, respectively)	`OtherLiabilitiesNoncurrent`	$5.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$141.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$87.00M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 19,732,500 and 19,709,500 shares issued and outstanding, respectively, at June 30, 2021; 15,190,000 and 15,167,000 shares issued and outstanding, respectively, at December 31, 2020	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 19,732,500 and 19,709,500 shares issued and outstanding, respectively, at June 30, 2021; 15,190,000 and 15,167,000 shares issued and outstanding, respectively, at December 31, 2020	`CommonStockValue`	$15.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$13.98M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$81.81M	USD	Point-in-time
Treasury stock, $0.001 par value, 23,000 and 23,000 shares on June 30, 2021 and December 31, 2020, respectively	`TreasuryStockValue`	$248.00K	USD	Point-in-time
Treasury stock, $0.001 par value, 23,000 and 23,000 shares on June 30, 2021 and December 31, 2020, respectively	`TreasuryStockValue`	$248.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$18.66M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$30.02M	USD	Point-in-time
Total Karat Packaging Inc. stockholders equity	`StockholdersEquity`	$111.60M	USD	Point-in-time
Total Karat Packaging Inc. stockholders equity	`StockholdersEquity`	$32.40M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$8.49M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$7.46M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$33.85M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.87M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.62M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.05M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$42.92M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$120.09M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$207.08M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$181.10M	USD	Point-in-time

Income Statement 106 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$148.82M	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$84.74M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$94.53M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$170.20M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$55.83M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$66.43M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$102.02M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$120.47M	USD	2 Qtrs
Gross profit	`GrossProfit`	$28.91M	USD	1 Quarter
Gross profit	`GrossProfit`	$46.80M	USD	2 Qtrs
Gross profit	`GrossProfit`	$28.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$49.72M	USD	2 Qtrs
Selling expense	`SellingExpense`	$14.17M	USD	2 Qtrs
Selling expense	`SellingExpense`	$7.77M	USD	1 Quarter
Selling expense	`SellingExpense`	$10.13M	USD	2 Qtrs
Selling expense	`SellingExpense`	$5.43M	USD	1 Quarter
General and administrative expense (including $0.7 million and $0.5 million associated with variable interest entity for the three months ended June 30, 2021 and 2020, respectively; and $1.3 million and $0.6 million for the six months ended June 30, 2021 and 2020, respectively, associated with variable interest entity)	`GeneralAndAdministrativeExpense`	$13.46M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$13.46M	USD	1 Quarter
General and administrative expense (including $0.7 million and $0.5 million associated with variable interest entity for the three months ended June 30, 2021 and 2020, respectively; and $1.3 million and $0.6 million for the six months ended June 30, 2021 and 2020, respectively, associated with variable interest entity)	`GeneralAndAdministrativeExpense`	$18.07M	USD	2 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$18.07M	USD	2 Qtrs
General and administrative expense (including $0.7 million and $0.5 million associated with variable interest entity for the three months ended June 30, 2021 and 2020, respectively; and $1.3 million and $0.6 million for the six months ended June 30, 2021 and 2020, respectively, associated with variable interest entity)	`GeneralAndAdministrativeExpense`	$8.97M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$8.97M	USD	1 Quarter
General and administrative expense (including $0.7 million and $0.5 million associated with variable interest entity for the three months ended June 30, 2021 and 2020, respectively; and $1.3 million and $0.6 million for the six months ended June 30, 2021 and 2020, respectively, associated with variable interest entity)	`GeneralAndAdministrativeExpense`	$24.91M	USD	2 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$24.91M	USD	2 Qtrs
Rental income	`RentalIncomeNonoperating`	$246.00K	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	-	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	$492.00K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$14.40M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$28.20M	USD	2 Qtrs
Rental income	`RentalIncomeNonoperating`	-	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$39.08M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$21.23M	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNonoperatingNet`	$-4.01M	USD	2 Qtrs
Interest income (expense)	`InterestIncomeExpenseNonoperatingNet`	$-1.13M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$6.87M	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNonoperatingNet`	$-705.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$10.64M	USD	2 Qtrs
Interest income (expense)	`InterestIncomeExpenseNonoperatingNet`	$-850.00K	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$18.60M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$14.51M	USD	1 Quarter
Rental income (including $0.2 million and $0.0 associated with variable interest entity for the three months ended June 30, 2021 and 2020, respectively; and $0.5 million and $0.0 for the six months ended June 30, 2021 and 2020, respectively, associated with variable interest entity)	`RentalIncomeNonoperating`	$246.00K	USD	1 Quarter
Rental income (including $0.2 million and $0.0 associated with variable interest entity for the three months ended June 30, 2021 and 2020, respectively; and $0.5 million and $0.0 for the six months ended June 30, 2021 and 2020, respectively, associated with variable interest entity)	`RentalIncomeNonoperating`	-	USD	1 Quarter
Rental income (including $0.2 million and $0.0 associated with variable interest entity for the three months ended June 30, 2021 and 2020, respectively; and $0.5 million and $0.0 for the six months ended June 30, 2021 and 2020, respectively, associated with variable interest entity)	`RentalIncomeNonoperating`	$492.00K	USD	2 Qtrs
Rental income (including $0.2 million and $0.0 associated with variable interest entity for the three months ended June 30, 2021 and 2020, respectively; and $0.5 million and $0.0 for the six months ended June 30, 2021 and 2020, respectively, associated with variable interest entity)	`RentalIncomeNonoperating`	-	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	$28.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$54.00K	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	$122.00K	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	$16.00K	USD	1 Quarter
Loss on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-109.00K	USD	2 Qtrs
Loss on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-284.00K	USD	2 Qtrs
Loss on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-68.00K	USD	1 Quarter
Loss on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-119.00K	USD	1 Quarter
Gain on sale of asset	`GainLossOnDispositionOfAssets1`	$8.00K	USD	2 Qtrs
Gain on sale of asset	`GainLossOnDispositionOfAssets1`	-	USD	2 Qtrs
Gain on sale of asset	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Gain on sale of asset	`GainLossOnDispositionOfAssets1`	$8.00K	USD	1 Quarter
Interest income (expense) (including $0.8 million interest expense and $0.1 million interest expense associated with variable interest entity for the three months ended June 30, 2021 and 2020, respectively; and $0.0 million interest expense and $2.6 million interest expense for the six months ended June 30, 2021 and 2020, respectively, associated with variable interest entity)	`InterestIncomeExpenseNonoperatingNet`	$-4.01M	USD	2 Qtrs
Interest income (expense) (including $0.8 million interest expense and $0.1 million interest expense associated with variable interest entity for the three months ended June 30, 2021 and 2020, respectively; and $0.0 million interest expense and $2.6 million interest expense for the six months ended June 30, 2021 and 2020, respectively, associated with variable interest entity)	`InterestIncomeExpenseNonoperatingNet`	$-1.13M	USD	1 Quarter
Interest income (expense) (including $0.8 million interest expense and $0.1 million interest expense associated with variable interest entity for the three months ended June 30, 2021 and 2020, respectively; and $0.0 million interest expense and $2.6 million interest expense for the six months ended June 30, 2021 and 2020, respectively, associated with variable interest entity)	`InterestIncomeExpenseNonoperatingNet`	$-705.00K	USD	1 Quarter
Interest income (expense) (including $0.8 million interest expense and $0.1 million interest expense associated with variable interest entity for the three months ended June 30, 2021 and 2020, respectively; and $0.0 million interest expense and $2.6 million interest expense for the six months ended June 30, 2021 and 2020, respectively, associated with variable interest entity)	`InterestIncomeExpenseNonoperatingNet`	$-850.00K	USD	2 Qtrs
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	2 Qtrs
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	1 Quarter
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-737.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$4.01M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$4.48M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-4.06M	USD	2 Qtrs
Income before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.54M	USD	2 Qtrs
Income before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$13.77M	USD	1 Quarter
Income before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$15.12M	USD	2 Qtrs
Income before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.88M	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	$4.03M	USD	2 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	$2.73M	USD	2 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	$3.83M	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	$1.55M	USD	1 Quarter
Net income	`ProfitLoss`	$12.39M	USD	2 Qtrs
Net income	`ProfitLoss`	$10.51M	USD	2 Qtrs
Net income	`ProfitLoss`	$9.94M	USD	1 Quarter
Net income	`ProfitLoss`	$567.00K	USD	1 Quarter
Net income	`ProfitLoss`	$3.05M	USD	1 Quarter
Net income	`ProfitLoss`	$9.34M	USD	1 Quarter
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-131.00K	USD	1 Quarter
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-2.02M	USD	2 Qtrs
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.02M	USD	2 Qtrs
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-245.00K	USD	1 Quarter
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$9.58M	USD	1 Quarter
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$12.52M	USD	2 Qtrs
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$11.36M	USD	2 Qtrs
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$10.07M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.67	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.82	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.66	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.65	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.50	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.81	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.66	USD	2 Qtrs
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.19M	shares	2 Qtrs
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.91M	shares	1 Quarter
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	17.05M	shares	2 Qtrs
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.18M	shares	1 Quarter
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.03M	shares	1 Quarter
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.46M	shares	2 Qtrs
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.45M	shares	1 Quarter
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.17M	shares	2 Qtrs

Cash Flow Statement 107 line items

Line Item	Tag	Value	Unit	Period
Net of issuance costs	`PaymentsOfStockIssuanceCosts`	$5.09M	USD	2 Qtrs
Net income	`ProfitLoss`	$12.39M	USD	2 Qtrs
Net income	`ProfitLoss`	$10.51M	USD	2 Qtrs
Net income	`ProfitLoss`	$9.94M	USD	1 Quarter
Net income	`ProfitLoss`	$567.00K	USD	1 Quarter
Net income	`ProfitLoss`	$3.05M	USD	1 Quarter
Net income	`ProfitLoss`	$9.34M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.48M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.94M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.87M	USD	2 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	-	USD	2 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$98.00K	USD	2 Qtrs
Gain on sale of asset	`GainLossOnDispositionOfAssets1`	$8.00K	USD	2 Qtrs
Gain on sale of asset	`GainLossOnDispositionOfAssets1`	-	USD	2 Qtrs
Gain on sale of asset	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Gain on sale of asset	`GainLossOnDispositionOfAssets1`	$8.00K	USD	1 Quarter
Change in fair value of interest rate swap	`DerivativeGainLossOnDerivativeNet`	$1.14M	USD	2 Qtrs
Change in fair value of interest rate swap	`DerivativeGainLossOnDerivativeNet`	$-2.30M	USD	2 Qtrs
Amortization of loan fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-6.00K	USD	2 Qtrs
Amortization of loan fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-6.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	-	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$240.00K	USD	2 Qtrs
Gain on forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	2 Qtrs
Gain on forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	1 Quarter
Gain on forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$636.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.76M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$13.13M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$8.32M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$598.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.10M	USD	2 Qtrs
Due from affiliated companies	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	-	USD	2 Qtrs
Due from affiliated companies	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$741.00K	USD	2 Qtrs
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$144.00K	USD	2 Qtrs
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$-1.76M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$85.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-91.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.78M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.29M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.62M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$4.75M	USD	2 Qtrs
Related party payable	`IncreaseDecreaseInDueToRelatedParties`	$-1.43M	USD	2 Qtrs
Related party payable	`IncreaseDecreaseInDueToRelatedParties`	$-1.17M	USD	2 Qtrs
Credit cards payable	`IncreaseDecreaseInCreditCardsPayable`	$-669.00K	USD	2 Qtrs
Credit cards payable	`IncreaseDecreaseInCreditCardsPayable`	$-493.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-41.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	2 Qtrs
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-16.00K	USD	2 Qtrs
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$658.00K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$301.00K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$299.00K	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.69M	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.74M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$957.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.39M	USD	2 Qtrs
Proceeds on disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$12.00K	USD	2 Qtrs
Proceeds on disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	2 Qtrs
Deposits paid for property and equipment	`PaymentsForDepositsForPropertyPlantAndEquipment`	$3.59M	USD	2 Qtrs
Deposits paid for property and equipment	`PaymentsForDepositsForPropertyPlantAndEquipment`	$2.99M	USD	2 Qtrs
Acquisition of Pacific Cup, Inc., net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$893.00K	USD	2 Qtrs
Acquisition of Pacific Cup, Inc., net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.84M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.97M	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$3.82M	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$1.47M	USD	2 Qtrs
Net payments on line of credit	`ProceedsFromLongTermLinesOfCredit`	-	USD	2 Qtrs
Net payments on line of credit	`ProceedsFromLongTermLinesOfCredit`	$-31.40M	USD	2 Qtrs
Proceeds from long-term debt, net of issuance cost	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	-	USD	2 Qtrs
Proceeds from long-term debt, net of issuance cost	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$24.54M	USD	2 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$3.50M	USD	2 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$22.73M	USD	2 Qtrs
Issuance of common stock in connection with our initial public offering, net of issuance costs	`ProceedsFromIssuanceInitialPublicOffering`	$67.59M	USD	2 Qtrs
Issuance of common stock in connection with our initial public offering, net of issuance costs	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	2 Qtrs
Dividends paid to shareholders	`PaymentsOfDividendsCommonStock`	-	USD	2 Qtrs
Dividends paid to shareholders	`PaymentsOfDividendsCommonStock`	$607.00K	USD	2 Qtrs
Payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$176.00K	USD	2 Qtrs
Payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$158.00K	USD	2 Qtrs
Treasury stock acquired	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Treasury stock acquired	`PaymentsForRepurchaseOfCommonStock`	$107.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.76M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$23.99M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.23M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.77M	USD	2 Qtrs
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.68M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$802.00K	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.57M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$448.00K	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.68M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$802.00K	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.57M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$448.00K	USD	Point-in-time
Capital expenditures funded by capital lease borrowings	`CapitalExpendituresIncurredButNotYetPaid`	$23.00K	USD	2 Qtrs
Capital expenditures funded by capital lease borrowings	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	2 Qtrs
Transfers from deposit to property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$1.34M	USD	2 Qtrs
Transfers from deposit to property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$6.03M	USD	2 Qtrs
Acquisition of Pacific Cup, Inc. included within deposits	`AcquisitionPriceIncludedWithinDeposits`	$100.00K	USD	2 Qtrs
Acquisition of Pacific Cup, Inc. included within deposits	`AcquisitionPriceIncludedWithinDeposits`	-	USD	2 Qtrs
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	2 Qtrs
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	1 Quarter
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Cash paid for income tax	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Cash paid for income tax	`IncomeTaxesPaidNet`	$1.57M	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$1.79M	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$1.98M	USD	2 Qtrs

Stockholders Equity 28 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning of period (in shares)	`CommonStockSharesOutstanding`	15.17M	shares	Point-in-time
Balance at the beginning of period (in shares)	`CommonStockSharesOutstanding`	19.71M	shares	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$33.85M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.87M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.62M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.05M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$42.92M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$120.09M	USD	Point-in-time
Treasury stock acquired (in shares)	`TreasuryStockSharesAcquired`	13,000.00	shares	Point-in-time
Treasury stock acquired (in shares)	`TreasuryStockSharesAcquired`	10,000.00	shares	Point-in-time
Treasury stock acquired	`TreasuryStockValueAcquiredCostMethod`	$107.00K	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$607.00K	USD	1 Quarter
Issuance of common stock in connection with our initial public offering, net of issuance costs of $5,088,000	`StockIssuedDuringPeriodValueNewIssues`	$67.59M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$240.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$12.39M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$10.51M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$9.94M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$567.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$3.05M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$9.34M	USD	1 Quarter
Balance at the end of period (in shares)	`CommonStockSharesOutstanding`	15.17M	shares	Point-in-time
Balance at the end of period (in shares)	`CommonStockSharesOutstanding`	19.71M	shares	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$33.85M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.87M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.62M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.05M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$42.92M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$120.09M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.