10-Q Filing

Karat Packaging Inc. CIK: 1758021 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001628280-21-023165`
Period End Date	20210930
Filing Date	20211112
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	krt-20210930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 114 Income Statement 104 Cash Flow Statement 108 Stockholders Equity 38

Balance Sheet 114 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents (including $0.7 million and $0.1 million associated with variable interest entity at September 30, 2021 and December 31, 2020)	`CashAndCashEquivalentsAtCarryingValue`	$448.00K	USD	Point-in-time
Cash and cash equivalents (including $0.7 million and $0.1 million associated with variable interest entity at September 30, 2021 and December 31, 2020)	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $0.3 million and $0.3 million at September 30, 2021 and December 31, 2020, respectively (including $0.0 and $0.0 million associated with variable interest entity at September 30, 2021 and December 31, 2020)	`AccountsReceivableNetCurrent`	$33.28M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $0.3 million and $0.3 million at September 30, 2021 and December 31, 2020, respectively (including $0.0 and $0.0 million associated with variable interest entity at September 30, 2021 and December 31, 2020)	`AccountsReceivableNetCurrent`	$23.84M	USD	Point-in-time
Inventories	`InventoryNet`	$60.21M	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 September 30, 2021 and December 31, 2020)	`PrepaidExpenseAndOtherAssetsCurrent`	$5.69M	USD	Point-in-time
Prepaid expenses and other current assets (including $0.1 million and $0.1 million associated with variable interest entity at September 30, 2021 and December 31, 2020)	`PrepaidExpenseAndOtherAssetsCurrent`	$6.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$100.85M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.69M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.53M	USD	Point-in-time
Property and equipment, net (including $46.9 million and $47.8 million associated with variable interest entity at September 30, 2021 and December 31, 2020, respectively)	`PropertyPlantAndEquipmentNet`	$94.04M	USD	Point-in-time
Property and equipment, net (including $46.9 million and $47.8 million associated with variable interest entity at September 30, 2021 and December 31, 2020, respectively)	`PropertyPlantAndEquipmentNet`	$95.53M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$4.24M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$2.46M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$94.04M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$95.53M	USD	Point-in-time
Goodwill	`Goodwill`	$3.11M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$399.00K	USD	Point-in-time
Goodwill	`Goodwill`	$3.51M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$161.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$387.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$19.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.07M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$8.16M	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$64.00K	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$64.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.96M	USD	Point-in-time
Other assets (including $0.0 million and $0.1 million associated with variable interest entity at September 30, 2021 and December 31, 2020)	`OtherAssetsNoncurrent`	$399.00K	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 September 30, 2021 and December 31, 2020)	`OtherAssetsNoncurrent`	$161.00K	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$1.12M	USD	Point-in-time
Total assets	`Assets`	$203.49M	USD	Point-in-time
Total assets	`Assets`	$181.10M	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$11.36M	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$1.17M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$200.00K	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$100.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$5.05M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$4.05M	USD	Point-in-time
Accounts payable (including $0.0 million and $0.6 million associated with variable interest entity at September 30, 2021 and December 31, 2020, respectively)	`AccountsPayableCurrent`	$19.03M	USD	Point-in-time
Accounts payable (including $0.0 million and $0.6 million associated with variable interest entity at September 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 $0.4 million and $0.1 million associated with variable interest entity at September 30, 2021 and December 31, 2020, respectively)	`AccruedLiabilitiesCurrent`	$8.16M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accrued expenses (including $0.4 million and $0.1 million associated with variable interest entity at September 30, 2021 and December 31, 2020, respectively)	`AccruedLiabilitiesCurrent`	$4.96M	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`	$5.04M	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$2.61M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	15.19M	shares	Point-in-time
Credit cards payable	`CreditCardsPayableCurrent`	$131.00K	USD	Point-in-time
Credit cards payable	`CreditCardsPayableCurrent`	$794.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	19.74M	shares	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$106.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$41.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	19.71M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	15.17M	shares	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 September 30, 2021 and December 31, 2020)	`ContractWithCustomerLiabilityCurrent`	$551.00K	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 September 30, 2021 and December 31, 2020)	`ContractWithCustomerLiabilityCurrent`	$1.12M	USD	Point-in-time
Capital leases, current portion	`FinanceLeaseLiabilityCurrent`	$321.00K	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	23,000.00	shares	Point-in-time
Capital leases, current portion	`FinanceLeaseLiabilityCurrent`	$186.00K	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	23,000.00	shares	Point-in-time
Debt Issuance Costs, Net	`DeferredFinanceCostsNet`	$210.00K	USD	Point-in-time
Debt, current portion (including $1.2 million and $0.7 million associated with variable interest entity at September 30, 2021 and December 31, 2020)	`LongTermDebtCurrent`	$11.36M	USD	Point-in-time
Debt Issuance Costs, Net	`DeferredFinanceCostsNet`	$102.00K	USD	Point-in-time
Debt, current portion (including $1.2 million and $0.7 million associated with variable interest entity at September 30, 2021 and December 31, 2020)	`LongTermDebtCurrent`	$1.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$32.51M	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 and debt discount of $0.2 million and $0.1 million at September 30, 2021 and December 31, 2020, respectively (including $35.6 million and $36.7 million associated with variable interest entity at September 30, 2021 and December 31, 2020, respectively, and debt discount of $0.2 million and $0.1 million associated with variable interest entity at September 30, 2021 and December 31, 2020, respectively)	`LongTermDebtExcludingLongTermLineOfCreditNoncurrent`	$53.41M	USD	Point-in-time
Long-term debt, net of current portion and debt discount of $0.2 million and $0.1 million at September 30, 2021 and December 31, 2020, respectively (including $35.6 million and $36.7 million associated with variable interest entity at September 30, 2021 and December 31, 2020, respectively, and debt discount of $0.2 million and $0.1 million associated with variable interest entity at September 30, 2021 and December 31, 2020, respectively)	`LongTermDebtExcludingLongTermLineOfCreditNoncurrent`	$35.63M	USD	Point-in-time
Capital leases, net of current portion	`FinanceLeaseLiabilityNoncurrent`	$106.00K	USD	Point-in-time
Capital leases, net of current portion	`FinanceLeaseLiabilityNoncurrent`	$290.00K	USD	Point-in-time
Other liabilities (including $2.9 million and $3.9 million associated with variable interest entity at September 30, 2021 and December 31, 2020, respectively)	`OtherLiabilitiesNoncurrent`	$5.05M	USD	Point-in-time
Other liabilities (including $2.9 million and $3.9 million associated with variable interest entity at September 30, 2021 and December 31, 2020, respectively)	`OtherLiabilitiesNoncurrent`	$4.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$78.48M	USD	Point-in-time
Total liabilities	`Liabilities`	$141.24M	USD	Point-in-time
Commitments and Contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 19,737,500 and 19,714,500 shares issued and outstanding, respectively, at September 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, 19,737,500 and 19,714,500 shares issued and outstanding, respectively, at September 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`	$82.66M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$13.98M	USD	Point-in-time
Treasury stock, $0.001 par value, 23,000 and 23,000 shares on September 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 September 30, 2021 and December 31, 2020, respectively	`TreasuryStockValue`	$248.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$33.80M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$18.66M	USD	Point-in-time
Total Karat Packaging Inc. stockholders equity	`StockholdersEquity`	$116.23M	USD	Point-in-time
Total Karat Packaging Inc. stockholders equity	`StockholdersEquity`	$32.40M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$7.46M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$8.78M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.87M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$120.09M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.05M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$33.85M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$42.92M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$38.27M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$125.01M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.62M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$203.49M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$181.10M	USD	Point-in-time

Income Statement 104 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$225.14M	USD	3 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$76.32M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$102.71M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$272.91M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$72.92M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$53.29M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$193.39M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$155.31M	USD	3 Qtrs
Gross profit	`GrossProfit`	$29.79M	USD	1 Quarter
Gross profit	`GrossProfit`	$23.03M	USD	1 Quarter
Gross profit	`GrossProfit`	$79.52M	USD	3 Qtrs
Gross profit	`GrossProfit`	$69.83M	USD	3 Qtrs
Selling expense	`SellingExpense`	$9.86M	USD	1 Quarter
Selling expense	`SellingExpense`	$6.11M	USD	1 Quarter
Selling expense	`SellingExpense`	$24.03M	USD	3 Qtrs
Selling expense	`SellingExpense`	$16.24M	USD	3 Qtrs
General and administrative expense (including $0.7 million and $0.8 million associated with variable interest entity for the three months ended September 30, 2021 and 2020, respectively; and $2.0 million and $1.4 million for the nine months ended September 30, 2021 and 2020, respectively, associated with variable interest entity)	`GeneralAndAdministrativeExpense`	$39.48M	USD	3 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$39.48M	USD	3 Qtrs
General and administrative expense (including $0.7 million and $0.8 million associated with variable interest entity for the three months ended September 30, 2021 and 2020, respectively; and $2.0 million and $1.4 million for the nine months ended September 30, 2021 and 2020, respectively, associated with variable interest entity)	`GeneralAndAdministrativeExpense`	$27.95M	USD	3 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$27.95M	USD	3 Qtrs
General and administrative expense (including $0.7 million and $0.8 million associated with variable interest entity for the three months ended September 30, 2021 and 2020, respectively; and $2.0 million and $1.4 million for the nine months ended September 30, 2021 and 2020, respectively, associated with variable interest entity)	`GeneralAndAdministrativeExpense`	$14.57M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$14.57M	USD	1 Quarter
General and administrative expense (including $0.7 million and $0.8 million associated with variable interest entity for the three months ended September 30, 2021 and 2020, respectively; and $2.0 million and $1.4 million for the nine months ended September 30, 2021 and 2020, respectively, associated with variable interest entity)	`GeneralAndAdministrativeExpense`	$9.88M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$9.88M	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	$66.00K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$15.99M	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	$738.00K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$63.51M	USD	3 Qtrs
Rental income	`RentalIncomeNonoperating`	$246.00K	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	$66.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$44.19M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$24.43M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.04M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$16.01M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$5.37M	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNonoperatingNet`	$-308.00K	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNonoperatingNet`	$-1.16M	USD	3 Qtrs
Interest income (expense)	`InterestIncomeExpenseNonoperatingNet`	$-847.00K	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNonoperatingNet`	$-4.86M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$25.64M	USD	3 Qtrs
Rental income (including $0.2 million and $0.0 associated with variable interest entity for the three months ended September 30, 2021 and 2020, respectively; and $0.7 million and $0.0 for the nine months ended September 30, 2021 and 2020, respectively, associated with variable interest entity)	`RentalIncomeNonoperating`	$66.00K	USD	3 Qtrs
Rental income (including $0.2 million and $0.0 associated with variable interest entity for the three months ended September 30, 2021 and 2020, respectively; and $0.7 million and $0.0 for the nine months ended September 30, 2021 and 2020, respectively, associated with variable interest entity)	`RentalIncomeNonoperating`	$738.00K	USD	3 Qtrs
Rental income (including $0.2 million and $0.0 associated with variable interest entity for the three months ended September 30, 2021 and 2020, respectively; and $0.7 million and $0.0 for the nine months ended September 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 September 30, 2021 and 2020, respectively; and $0.7 million and $0.0 for the nine months ended September 30, 2021 and 2020, respectively, associated with variable interest entity)	`RentalIncomeNonoperating`	$66.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$223.00K	USD	3 Qtrs
Other income	`OtherNonoperatingIncome`	$86.00K	USD	3 Qtrs
Other income	`OtherNonoperatingIncome`	$24.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$101.00K	USD	1 Quarter
Loss on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-377.00K	USD	3 Qtrs
Loss on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-347.00K	USD	3 Qtrs
Loss on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-268.00K	USD	1 Quarter
Loss on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-63.00K	USD	1 Quarter
Interest expense (including $0.3 million and $0.3 million associated with variable interest entity for the three months ended September 30, 2021 and 2020, respectively; and $0.3 million and $2.9 million for the nine months ended September 30, 2021 and 2020, respectively, associated with variable interest entity)	`InterestIncomeExpenseNonoperatingNet`	$-308.00K	USD	1 Quarter
Interest expense (including $0.3 million and $0.3 million associated with variable interest entity for the three months ended September 30, 2021 and 2020, respectively; and $0.3 million and $2.9 million for the nine months ended September 30, 2021 and 2020, respectively, associated with variable interest entity)	`InterestIncomeExpenseNonoperatingNet`	$-1.16M	USD	3 Qtrs
Interest expense (including $0.3 million and $0.3 million associated with variable interest entity for the three months ended September 30, 2021 and 2020, respectively; and $0.3 million and $2.9 million for the nine months ended September 30, 2021 and 2020, respectively, associated with variable interest entity)	`InterestIncomeExpenseNonoperatingNet`	$-847.00K	USD	1 Quarter
Interest expense (including $0.3 million and $0.3 million associated with variable interest entity for the three months ended September 30, 2021 and 2020, respectively; and $0.3 million and $2.9 million for the nine months ended September 30, 2021 and 2020, respectively, associated with variable interest entity)	`InterestIncomeExpenseNonoperatingNet`	$-4.86M	USD	3 Qtrs
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	3 Qtrs
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.02M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-5.08M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$4.46M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-24.00K	USD	1 Quarter
Income before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$20.46M	USD	3 Qtrs
Income before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.02M	USD	1 Quarter
Income before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.34M	USD	1 Quarter
Income before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$20.56M	USD	3 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	$5.48M	USD	3 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	$4.00M	USD	3 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	$1.45M	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	$1.27M	USD	1 Quarter
Net income	`ProfitLoss`	$567.00K	USD	1 Quarter
Net income	`ProfitLoss`	$9.94M	USD	1 Quarter
Net income	`ProfitLoss`	$3.05M	USD	1 Quarter
Net income	`ProfitLoss`	$16.46M	USD	3 Qtrs
Net income	`ProfitLoss`	$4.07M	USD	1 Quarter
Net income	`ProfitLoss`	$4.57M	USD	1 Quarter
Net income	`ProfitLoss`	$9.34M	USD	1 Quarter
Net income	`ProfitLoss`	$15.07M	USD	3 Qtrs
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$494.00K	USD	1 Quarter
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.31M	USD	3 Qtrs
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-1.52M	USD	3 Qtrs
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$287.00K	USD	1 Quarter
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$16.59M	USD	3 Qtrs
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$4.07M	USD	1 Quarter
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$15.15M	USD	3 Qtrs
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$3.79M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.27	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.09	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.84	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.84	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.07	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.26	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.19	USD	1 Quarter
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.19M	shares	3 Qtrs
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.18M	shares	1 Quarter
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.71M	shares	1 Quarter
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	17.95M	shares	3 Qtrs
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.46M	shares	3 Qtrs
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.11M	shares	3 Qtrs
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.88M	shares	1 Quarter
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.45M	shares	1 Quarter

Cash Flow Statement 108 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$567.00K	USD	1 Quarter
Net income	`ProfitLoss`	$9.94M	USD	1 Quarter
Net income	`ProfitLoss`	$3.05M	USD	1 Quarter
Net income	`ProfitLoss`	$16.46M	USD	3 Qtrs
Net income	`ProfitLoss`	$4.07M	USD	1 Quarter
Net income	`ProfitLoss`	$4.57M	USD	1 Quarter
Net income	`ProfitLoss`	$9.34M	USD	1 Quarter
Net income	`ProfitLoss`	$15.07M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.10M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.48M	USD	3 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	-	USD	3 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$98.00K	USD	3 Qtrs
Reserve for inventory obsolescence	`InventoryWriteDown`	-	USD	3 Qtrs
Reserve for inventory obsolescence	`InventoryWriteDown`	$133.00K	USD	3 Qtrs
Gain on sales of asset	`GainLossOnDispositionOfAssets1`	-	USD	3 Qtrs
Gain on sales of asset	`GainLossOnDispositionOfAssets1`	$19.00K	USD	3 Qtrs
Change in fair value of interest rate swap	`DerivativeGainLossOnDerivativeNet`	$-2.03M	USD	3 Qtrs
Change in fair value of interest rate swap	`DerivativeGainLossOnDerivativeNet`	$1.30M	USD	3 Qtrs
Amortization of loan fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-9.00K	USD	3 Qtrs
Amortization of loan fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-9.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	-	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.09M	USD	3 Qtrs
Gain on forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Gain on forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	3 Qtrs
Gain on forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.44M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.46M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$13.19M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$11.23M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.33M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-840.00K	USD	3 Qtrs
Due from affiliated companies	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	-	USD	3 Qtrs
Due from affiliated companies	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$840.00K	USD	3 Qtrs
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$64.00K	USD	3 Qtrs
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$-1.74M	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$238.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.04M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$801.00K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$3.20M	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.07M	USD	3 Qtrs
Related party payable	`IncreaseDecreaseInDueToRelatedParties`	$1.17M	USD	3 Qtrs
Related party payable	`IncreaseDecreaseInDueToRelatedParties`	$-2.43M	USD	3 Qtrs
Credit cards payable	`IncreaseDecreaseInCreditCardsPayable`	$-663.00K	USD	3 Qtrs
Credit cards payable	`IncreaseDecreaseInCreditCardsPayable`	$-317.00K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$65.00K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.09M	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$574.00K	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-11.00K	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$300.00K	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$285.00K	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.30M	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.25M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.95M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.62M	USD	3 Qtrs
Proceeds on disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	3 Qtrs
Proceeds on disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$24.00K	USD	3 Qtrs
Deposits paid for property and equipment	`PaymentsForDepositsForPropertyPlantAndEquipment`	$3.79M	USD	3 Qtrs
Deposits paid for property and equipment	`PaymentsForDepositsForPropertyPlantAndEquipment`	$5.64M	USD	3 Qtrs
Effect on initial consolidation of Lollicup Franchising Inc, net of cash acquired	`PaymentsToAcquireLollicupFranchisingIncEffectOnInitialConsolidationNetOfCashAcquired`	-	USD	3 Qtrs
Effect on initial consolidation of Lollicup Franchising Inc, net of cash acquired	`PaymentsToAcquireLollicupFranchisingIncEffectOnInitialConsolidationNetOfCashAcquired`	$893.00K	USD	3 Qtrs
Acquisition of Pacific Cup, Inc., net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$900.00K	USD	3 Qtrs
Acquisition of Pacific Cup, Inc., net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.64M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.13M	USD	3 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$1.47M	USD	3 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$5.19M	USD	3 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	-	USD	3 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$34.64M	USD	3 Qtrs
Proceeds from long-term debt, net of issuance cost	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$16.00M	USD	3 Qtrs
Proceeds from long-term debt, net of issuance cost	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$24.54M	USD	3 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$5.50M	USD	3 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$38.98M	USD	3 Qtrs
Issuance of common stock in connection with initial public offering, net of issuance costs	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	3 Qtrs
Issuance of common stock in connection with initial public offering, net of issuance costs	`ProceedsFromIssuanceInitialPublicOffering`	$67.59M	USD	3 Qtrs
Dividends paid to shareholders	`PaymentsOfDividendsCommonStock`	$607.00K	USD	3 Qtrs
Dividends paid to shareholders	`PaymentsOfDividendsCommonStock`	-	USD	3 Qtrs
Payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$319.00K	USD	3 Qtrs
Payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$285.00K	USD	3 Qtrs
Treasury stock acquired	`PaymentsForRepurchaseOfCommonStock`	-	USD	3 Qtrs
Treasury stock acquired	`PaymentsForRepurchaseOfCommonStock`	$248.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$23.09M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.12M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.23M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.26M	USD	3 Qtrs
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.07M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$448.00K	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$802.00K	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.68M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.07M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$448.00K	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$802.00K	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.68M	USD	Point-in-time
Capital expenditures funded by capital lease borrowings	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	3 Qtrs
Capital expenditures funded by capital lease borrowings	`CapitalExpendituresIncurredButNotYetPaid`	$23.00K	USD	3 Qtrs
Transfers from deposit to property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$15.75M	USD	3 Qtrs
Transfers from deposit to property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$3.21M	USD	3 Qtrs
Acquisition of Pacific Cup, Inc. included within deposits	`AcquisitionPriceIncludedWithinDeposits`	-	USD	3 Qtrs
Acquisition of Pacific Cup, Inc. included within deposits	`AcquisitionPriceIncludedWithinDeposits`	$100.00K	USD	3 Qtrs
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	3 Qtrs
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Cash paid for income tax	`IncomeTaxesPaidNet`	$2.40M	USD	3 Qtrs
Cash paid for income tax	`IncomeTaxesPaidNet`	$3.32M	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	$2.47M	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	$2.87M	USD	3 Qtrs

Stockholders Equity 38 line items

Line Item	Tag	Value	Unit	Period
Net of issuance costs	`PaymentsOfStockIssuanceCosts`	$5.09M	USD	3 Qtrs
Balance at the beginning of period (in shares)	`CommonStockSharesOutstanding`	19.71M	shares	Point-in-time
Balance at the beginning of period (in shares)	`CommonStockSharesOutstanding`	15.17M	shares	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.87M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$120.09M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.05M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$33.85M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$42.92M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$38.27M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$125.01M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.62M	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`	$141.00K	USD	1 Quarter
Treasury stock acquired	`TreasuryStockValueAcquiredCostMethod`	$107.00K	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	-	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	`StockIssuedDuringPeriodValueNewIssues`	$67.59M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$848.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$240.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$567.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$9.94M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$3.05M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$16.46M	USD	3 Qtrs
Net income (loss)	`ProfitLoss`	$4.07M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$4.57M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$9.34M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$15.07M	USD	3 Qtrs
Balance at the end of period (in shares)	`CommonStockSharesOutstanding`	19.71M	shares	Point-in-time
Balance at the end of period (in shares)	`CommonStockSharesOutstanding`	15.17M	shares	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.87M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$120.09M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.05M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$33.85M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$42.92M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$38.27M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$125.01M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.62M	USD	Point-in-time

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