10-Q Filing

Karat Packaging Inc. CIK: 1758021 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001628280-22-022470`
Period End Date	20220630
Filing Date	20220811
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	krt-20220630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 106 Income Statement 102 Cash Flow Statement 101 Stockholders Equity 32

Balance Sheet 106 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents (including $932 and $1,163 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`CashAndCashEquivalentsAtCarryingValue`	$3.50M	USD	Point-in-time
Cash and cash equivalents (including $932 and $1,163 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`CashAndCashEquivalentsAtCarryingValue`	$6.48M	USD	Point-in-time
Accounts receivable, net of allowances of $1,734 and $583 at June 30, 2022 and December 31, 2021, respectively (including $6 and $24 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`AccountsReceivableNetCurrent`	$38.47M	USD	Point-in-time
Accounts receivable, net of allowances of $1,734 and $583 at June 30, 2022 and December 31, 2021, respectively (including $6 and $24 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`AccountsReceivableNetCurrent`	$32.78M	USD	Point-in-time
Inventories	`InventoryNet`	$58.47M	USD	Point-in-time
Inventories	`InventoryNet`	$85.47M	USD	Point-in-time
Prepaid expenses and other current assets (including $200 and $63 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`PrepaidExpenseAndOtherAssetsCurrent`	$6.69M	USD	Point-in-time
Prepaid expenses and other current assets (including $200 and $63 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`PrepaidExpenseAndOtherAssetsCurrent`	$5.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.48M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$102.87M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$583.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$134.14M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.73M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.69M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.14M	USD	Point-in-time
Property and equipment, net (including $46,006 and $46,612 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`PropertyPlantAndEquipmentNet`	$95.04M	USD	Point-in-time
Property and equipment, net (including $46,006 and $46,612 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`PropertyPlantAndEquipmentNet`	$93.47M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$95.04M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$93.47M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$13.29M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$6.88M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$477.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$840.00K	USD	Point-in-time
Goodwill	`Goodwill`	$3.51M	USD	Point-in-time
Goodwill	`Goodwill`	$3.51M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$380.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$23.32M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$367.00K	USD	Point-in-time
Other assets (including $60 and $65 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`OtherAssetsNoncurrent`	$477.00K	USD	Point-in-time
Other assets (including $60 and $65 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`OtherAssetsNoncurrent`	$840.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$7.87M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$7.81M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$85.00K	USD	Point-in-time
Total assets	`Assets`	$247.19M	USD	Point-in-time
Total assets	`Assets`	$207.60M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$1.62M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$1.22M	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$1.18M	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$910.00K	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$239.00K	USD	Point-in-time
Accounts payable (including $4 and $136 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`AccountsPayableCurrent`	$18.47M	USD	Point-in-time
Accounts payable (including $4 and $136 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`AccountsPayableCurrent`	$23.32M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$200.00K	USD	Point-in-time
Accrued expenses (including $281 and $68 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`AccruedLiabilitiesCurrent`	$7.87M	USD	Point-in-time
Accrued expenses (including $281 and $68 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`AccruedLiabilitiesCurrent`	$7.81M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.84M	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$2.00M	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$3.20M	USD	Point-in-time
Income taxes payable (including $0 and $9 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable (including $0 and $9 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`AccruedIncomeTaxesCurrent`	$85.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Customer deposits (including $81 and $88 associated with variable interest entity as of June 30, 2022 and December 31, 2021, respectively)	`ContractWithCustomerLiabilityCurrent`	$1.62M	USD	Point-in-time
Customer deposits (including $81 and $88 associated with variable interest entity as of June 30, 2022 and December 31, 2021, respectively)	`ContractWithCustomerLiabilityCurrent`	$1.22M	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
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	19.83M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	19.83M	shares	Point-in-time
Debt, current portion (including $1.2 million associated with variable interest entity as of both March 31, 2022 and December 31, 2021)	`LongTermDebtCurrent`	$1.18M	USD	Point-in-time
Debt, current portion (including $1.2 million associated with variable interest entity as of both March 31, 2022 and December 31, 2021)	`LongTermDebtCurrent`	$910.00K	USD	Point-in-time
Other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$482.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	19.80M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	19.81M	shares	Point-in-time
Other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	-	USD	Point-in-time
Treasury stock, par value (in dollars per share)	`TreasuryStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$30.76M	USD	Point-in-time
Treasury stock, par value (in dollars per share)	`TreasuryStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.41M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$5.63M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	23,000.00	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	23,000.00	shares	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$5.63M	USD	Point-in-time
Line of credit	`LongTermLineOfCredit`	-	USD	Point-in-time
Line of credit	`LongTermLineOfCredit`	$11.60M	USD	Point-in-time
Long-term debt, net of current portion and debt discount of $239 and $200 as of June 30, 2022 and December 31, 2021, respectively (including $42,016 and $35,339 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively, and debt discount of $239 and $200 associated with variable interest entity as of June 30, 2022 and December 31, 2021, respectively)	`LongTermDebtExcludingLongTermLineOfCreditNoncurrent`	$35.34M	USD	Point-in-time
Long-term debt, net of current portion and debt discount of $239 and $200 as of June 30, 2022 and December 31, 2021, respectively (including $42,016 and $35,339 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively, and debt discount of $239 and $200 associated with variable interest entity as of June 30, 2022 and December 31, 2021, respectively)	`LongTermDebtExcludingLongTermLineOfCreditNoncurrent`	$42.02M	USD	Point-in-time
Other liabilities (including $1,324 and $2,637 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`OtherLiabilitiesNoncurrent`	$3.00M	USD	Point-in-time
Other liabilities (including $1,324 and $2,637 associated with variable interest entity at June 30, 2022 and December 31, 2021, respectively)	`OtherLiabilitiesNoncurrent`	$3.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$99.67M	USD	Point-in-time
Total liabilities	`Liabilities`	$75.57M	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, 19,832,417 and 19,809,417 shares issued and outstanding, respectively, at June 30, 2022; 19,827,417 and 19,804,417 shares issued and outstanding, respectively, at December 31, 2021	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 19,832,417 and 19,809,417 shares issued and outstanding, respectively, at June 30, 2022; 19,827,417 and 19,804,417 shares issued and outstanding, respectively, at December 31, 2021	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$83.69M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$84.92M	USD	Point-in-time
Treasury stock, $0.001 par value, 23,000 shares at both June 30, 2022 and December 31, 2021	`TreasuryStockValue`	$248.00K	USD	Point-in-time
Treasury stock, $0.001 par value, 23,000 shares at both June 30, 2022 and December 31, 2021	`TreasuryStockValue`	$248.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$39.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$52.45M	USD	Point-in-time
Total Karat Packaging Inc. stockholders equity	`StockholdersEquity`	$137.14M	USD	Point-in-time
Total Karat Packaging Inc. stockholders equity	`StockholdersEquity`	$122.90M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$10.38M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$9.12M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$140.24M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$120.09M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.87M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$132.03M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$147.52M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$42.92M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$247.19M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$207.60M	USD	Point-in-time

Income Statement 102 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$220.29M	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$170.20M	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$94.53M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$114.88M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$80.92M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$66.43M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$152.04M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$120.47M	USD	2 Qtrs
Gross profit	`GrossProfit`	$68.25M	USD	2 Qtrs
Gross profit	`GrossProfit`	$49.72M	USD	2 Qtrs
Gross profit	`GrossProfit`	$33.96M	USD	1 Quarter
Gross profit	`GrossProfit`	$28.10M	USD	1 Quarter
Selling expense	`SellingExpense`	$14.17M	USD	2 Qtrs
Selling expense	`SellingExpense`	$9.47M	USD	1 Quarter
Selling expense	`SellingExpense`	$7.77M	USD	1 Quarter
Selling expense	`SellingExpense`	$18.80M	USD	2 Qtrs
General and administrative expense (including $671 and $681 associated with variable interest entity for the three months ended June 30, 2022 and 2021, respectively; $1,234 and $1,300 associated with variable interest entity for the six months ended June 30, 2022 and 2021, respectively)	`GeneralAndAdministrativeExpense`	$16.69M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$16.69M	USD	1 Quarter
General and administrative expense (including $671 and $681 associated with variable interest entity for the three months ended June 30, 2022 and 2021, respectively; $1,234 and $1,300 associated with variable interest entity for the six months ended June 30, 2022 and 2021, respectively)	`GeneralAndAdministrativeExpense`	$13.46M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$13.46M	USD	1 Quarter
General and administrative expense (including $671 and $681 associated with variable interest entity for the three months ended June 30, 2022 and 2021, respectively; $1,234 and $1,300 associated with variable interest entity for the six months ended June 30, 2022 and 2021, respectively)	`GeneralAndAdministrativeExpense`	$24.91M	USD	2 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$24.91M	USD	2 Qtrs
General and administrative expense (including $671 and $681 associated with variable interest entity for the three months ended June 30, 2022 and 2021, respectively; $1,234 and $1,300 associated with variable interest entity for the six months ended June 30, 2022 and 2021, respectively)	`GeneralAndAdministrativeExpense`	$32.16M	USD	2 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$32.16M	USD	2 Qtrs
Rental income	`RentalIncomeNonoperating`	$238.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$50.96M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$26.16M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$21.23M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$39.08M	USD	2 Qtrs
Rental income	`RentalIncomeNonoperating`	$492.00K	USD	2 Qtrs
Rental income	`RentalIncomeNonoperating`	$476.00K	USD	2 Qtrs
Rental income	`RentalIncomeNonoperating`	$246.00K	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNonoperatingNet`	$237.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$6.87M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$17.29M	USD	2 Qtrs
Interest income (expense)	`InterestIncomeExpenseNonoperatingNet`	$1.08M	USD	2 Qtrs
Interest income (expense)	`InterestIncomeExpenseNonoperatingNet`	$-1.13M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.80M	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNonoperatingNet`	$-850.00K	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$10.64M	USD	2 Qtrs
Rental income (including $238 and $246 associated with variable interest entity for the three months ended June 30, 2022 and 2021, respectively; and $476 and $492 associated with variable interest entity for the six months ended June 30, 2022 and 2021, respectively)	`RentalIncomeNonoperating`	$238.00K	USD	1 Quarter
Rental income (including $238 and $246 associated with variable interest entity for the three months ended June 30, 2022 and 2021, respectively; and $476 and $492 associated with variable interest entity for the six months ended June 30, 2022 and 2021, respectively)	`RentalIncomeNonoperating`	$492.00K	USD	2 Qtrs
Rental income (including $238 and $246 associated with variable interest entity for the three months ended June 30, 2022 and 2021, respectively; and $476 and $492 associated with variable interest entity for the six months ended June 30, 2022 and 2021, respectively)	`RentalIncomeNonoperating`	$476.00K	USD	2 Qtrs
Rental income (including $238 and $246 associated with variable interest entity for the three months ended June 30, 2022 and 2021, respectively; and $476 and $492 associated with variable interest entity for the six months ended June 30, 2022 and 2021, respectively)	`RentalIncomeNonoperating`	$246.00K	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$122.00K	USD	2 Qtrs
Other (expense) income	`OtherNonoperatingIncomeExpense`	$-181.00K	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$16.00K	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$-263.00K	USD	2 Qtrs
Gain (Loss) on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$850.00K	USD	1 Quarter
Gain (Loss) on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-119.00K	USD	1 Quarter
Gain (Loss) on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-284.00K	USD	2 Qtrs
Gain (Loss) on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$983.00K	USD	2 Qtrs
Interest income (expense) (including $386 interest income and $821 interest expense associated with variable interest entity for the three months ended June 30, 2022 and 2021, respectively; and $1,251 interest income and $10 interest expense associated with variable interest entity for the six months ended June 30, 2022 and 2021, respectively)	`InterestIncomeExpenseNonoperatingNet`	$237.00K	USD	1 Quarter
Interest income (expense) (including $386 interest income and $821 interest expense associated with variable interest entity for the three months ended June 30, 2022 and 2021, respectively; and $1,251 interest income and $10 interest expense associated with variable interest entity for the six months ended June 30, 2022 and 2021, respectively)	`InterestIncomeExpenseNonoperatingNet`	$1.08M	USD	2 Qtrs
Interest income (expense) (including $386 interest income and $821 interest expense associated with variable interest entity for the three months ended June 30, 2022 and 2021, respectively; and $1,251 interest income and $10 interest expense associated with variable interest entity for the six months ended June 30, 2022 and 2021, respectively)	`InterestIncomeExpenseNonoperatingNet`	$-1.13M	USD	1 Quarter
Interest income (expense) (including $386 interest income and $821 interest expense associated with variable interest entity for the three months ended June 30, 2022 and 2021, respectively; and $1,251 interest income and $10 interest expense associated with variable interest entity for the six months ended June 30, 2022 and 2021, respectively)	`InterestIncomeExpenseNonoperatingNet`	$-850.00K	USD	2 Qtrs
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	2 Qtrs
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$4.48M	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$4.01M	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$2.27M	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$1.14M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$19.57M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.88M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$15.12M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.95M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.75M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.73M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.42M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.55M	USD	1 Quarter
Net income	`ProfitLoss`	$12.39M	USD	2 Qtrs
Net income	`ProfitLoss`	$9.34M	USD	1 Quarter
Net income	`ProfitLoss`	$15.14M	USD	2 Qtrs
Net income	`ProfitLoss`	$7.94M	USD	1 Quarter
Net income	`ProfitLoss`	$3.05M	USD	1 Quarter
Net income	`ProfitLoss`	$7.20M	USD	1 Quarter
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$856.00K	USD	1 Quarter
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.13M	USD	2 Qtrs
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-245.00K	USD	1 Quarter
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.02M	USD	2 Qtrs
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$6.34M	USD	1 Quarter
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$13.01M	USD	2 Qtrs
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$11.36M	USD	2 Qtrs
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$9.58M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.66	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.32	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.67	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.50	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.65	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.32	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.66	USD	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`	19.81M	shares	1 Quarter
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.81M	shares	2 Qtrs
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	17.05M	shares	2 Qtrs
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.17M	shares	2 Qtrs
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.03M	shares	1 Quarter
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.91M	shares	2 Qtrs
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.93M	shares	1 Quarter

Cash Flow Statement 101 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$12.39M	USD	2 Qtrs
Net income	`ProfitLoss`	$9.34M	USD	1 Quarter
Net income	`ProfitLoss`	$15.14M	USD	2 Qtrs
Net income	`ProfitLoss`	$7.94M	USD	1 Quarter
Net income	`ProfitLoss`	$3.05M	USD	1 Quarter
Net income	`ProfitLoss`	$7.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.94M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.15M	USD	2 Qtrs
Adjustments to accounts receivable reserves	`ProvisionForDoubtfulAccounts`	$1.15M	USD	2 Qtrs
Adjustments to accounts receivable reserves	`ProvisionForDoubtfulAccounts`	-	USD	2 Qtrs
Adjustments to inventory reserves	`InventoryWriteDown`	-	USD	2 Qtrs
Adjustments to inventory reserves	`InventoryWriteDown`	$513.00K	USD	2 Qtrs
Gain on sale of asset	`GainLossOnDispositionOfAssets1`	-	USD	2 Qtrs
Gain on sale of asset	`GainLossOnDispositionOfAssets1`	$17.00K	USD	2 Qtrs
Change in fair value of interest rate swap	`DerivativeGainLossOnDerivativeNet`	$1.14M	USD	2 Qtrs
Change in fair value of interest rate swap	`DerivativeGainLossOnDerivativeNet`	$2.16M	USD	2 Qtrs
Amortization of loan fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-18.00K	USD	2 Qtrs
Amortization of loan fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-6.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.18M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$240.00K	USD	2 Qtrs
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	2 Qtrs
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.85M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.76M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$13.13M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$27.52M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.10M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.70M	USD	2 Qtrs
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$144.00K	USD	2 Qtrs
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$163.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-91.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-87.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.86M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.29M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.62M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$552.00K	USD	2 Qtrs
Related party payable	`IncreaseDecreaseInDueToRelatedParties`	$1.20M	USD	2 Qtrs
Related party payable	`IncreaseDecreaseInDueToRelatedParties`	$-1.43M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-85.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-41.00K	USD	2 Qtrs
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$658.00K	USD	2 Qtrs
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$404.00K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$9.00K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	2 Qtrs
Other payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-370.00K	USD	2 Qtrs
Other payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$482.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.75M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.69M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.61M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$957.00K	USD	2 Qtrs
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$35.00K	USD	2 Qtrs
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	2 Qtrs
Deposits paid for joint venture investment	`PaymentsToAcquireInterestInJointVenture`	$4.00M	USD	2 Qtrs
Deposits paid for joint venture investment	`PaymentsToAcquireInterestInJointVenture`	-	USD	2 Qtrs
Deposits paid for property and equipment	`PaymentsForDepositsForPropertyPlantAndEquipment`	$7.60M	USD	2 Qtrs
Deposits paid for property and equipment	`PaymentsForDepositsForPropertyPlantAndEquipment`	$2.99M	USD	2 Qtrs
Proceeds from settlement of interest rate swap	`ProceedsFromDerivativeInstrumentInvestingActivities`	-	USD	2 Qtrs
Proceeds from settlement of interest rate swap	`ProceedsFromDerivativeInstrumentInvestingActivities`	$825.00K	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`	$-12.35M	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$1.47M	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$20.10M	USD	2 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$8.50M	USD	2 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$31.40M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$27.48M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	-	USD	2 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$22.73M	USD	2 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$21.14M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromIssuanceInitialPublicOffering`	$67.59M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromIssuanceInitialPublicOffering`	$51.00K	USD	2 Qtrs
Payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$176.00K	USD	2 Qtrs
Payments of noncontrolling interest tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$874.00K	USD	2 Qtrs
Payments of noncontrolling interest tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.76M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$17.11M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.98M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.23M	USD	2 Qtrs
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.48M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$448.00K	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.68M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.50M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.48M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$448.00K	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.68M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.50M	USD	Point-in-time
Transfers from deposit to property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$1.34M	USD	2 Qtrs
Transfers from deposit to property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$5.11M	USD	2 Qtrs
Acquisition price of Pacific Cup, Inc. included within deposits	`AcquisitionPriceIncludedWithinDeposits`	-	USD	2 Qtrs
Acquisition price of Pacific Cup, Inc. included within deposits	`AcquisitionPriceIncludedWithinDeposits`	$100.00K	USD	2 Qtrs
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	2 Qtrs
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$1.57M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$5.83M	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$1.07M	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$1.98M	USD	2 Qtrs

Stockholders Equity 32 line items

Line Item	Tag	Value	Unit	Period
Net of issuance costs	`PaymentsOfStockIssuanceCosts`	$5.09M	USD	1 Quarter
Balance at the beginning of period (in shares)	`CommonStockSharesOutstanding`	19.80M	shares	Point-in-time
Balance at the beginning of period (in shares)	`CommonStockSharesOutstanding`	19.81M	shares	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$140.24M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$120.09M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.87M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$132.03M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$147.52M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$42.92M	USD	Point-in-time
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`	$611.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$565.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$240.00K	USD	1 Quarter
Exercise of common stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	5,000.00	shares	1 Quarter
Exercise of common stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	5,000.00	shares	2 Qtrs
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$51.00K	USD	1 Quarter
Noncontrolling interest tax withholding	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$487.00K	USD	1 Quarter
Noncontrolling interest tax withholding	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$387.00K	USD	1 Quarter
Net income	`ProfitLoss`	$12.39M	USD	2 Qtrs
Net income	`ProfitLoss`	$9.34M	USD	1 Quarter
Net income	`ProfitLoss`	$15.14M	USD	2 Qtrs
Net income	`ProfitLoss`	$7.94M	USD	1 Quarter
Net income	`ProfitLoss`	$3.05M	USD	1 Quarter
Net income	`ProfitLoss`	$7.20M	USD	1 Quarter
Balance at the end of period (in shares)	`CommonStockSharesOutstanding`	19.80M	shares	Point-in-time
Balance at the end of period (in shares)	`CommonStockSharesOutstanding`	19.81M	shares	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$140.24M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$120.09M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.87M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$132.03M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$147.52M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$42.92M	USD	Point-in-time

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