10-K Filing

Karat Packaging Inc. CIK: 1758021 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001628280-23-008299`
Period End Date	20221231
Filing Date	20230316
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	krt-20221231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 116 Income Statement 56 Cash Flow Statement 108 Stockholders Equity 30

Balance Sheet 116 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents (including $2,022 and $1,163 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`CashAndCashEquivalentsAtCarryingValue`	$6.48M	USD	Point-in-time
Cash and cash equivalents (including $2,022 and $1,163 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`CashAndCashEquivalentsAtCarryingValue`	$16.04M	USD	Point-in-time
Accounts receivable, net of allowance for bad debt of $1,260 and $250 at December 31, 2022 and 2021, respectively (including $6 and $24 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`AccountsReceivableNetCurrent`	$32.78M	USD	Point-in-time
Accounts receivable, net of allowance for bad debt of $1,260 and $250 at December 31, 2022 and 2021, respectively (including $6 and $24 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`AccountsReceivableNetCurrent`	$29.91M	USD	Point-in-time
Inventories	`InventoryNet`	$71.21M	USD	Point-in-time
Inventories	`InventoryNet`	$58.47M	USD	Point-in-time
Prepaid expenses and other current assets (including $191 and $63 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`PrepaidExpenseAndOtherAssetsCurrent`	$6.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.04M	USD	Point-in-time
Prepaid expenses and other current assets (including $191 and $63 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`PrepaidExpenseAndOtherAssetsCurrent`	$5.14M	USD	Point-in-time
Allowance for bad debt	`AllowanceForDoubtfulAccountsReceivableCurrent`	$250.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$102.87M	USD	Point-in-time
Allowance for bad debt	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$123.80M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.64M	USD	Point-in-time
Property and equipment, net (including $45,399 and $46,612 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`PropertyPlantAndEquipmentNet`	$93.47M	USD	Point-in-time
Property and equipment, net (including $45,399 and $46,612 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`PropertyPlantAndEquipmentNet`	$95.57M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.14M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$93.47M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$6.88M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$12.41M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$95.57M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$818.00K	USD	Point-in-time
Goodwill	`Goodwill`	$3.51M	USD	Point-in-time
Goodwill	`Goodwill`	$3.11M	USD	Point-in-time
Goodwill	`Goodwill`	$3.51M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$477.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$380.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.56M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$353.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.47M	USD	Point-in-time
Operating right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating right-of-use assets	`OperatingLeaseRightOfUseAsset`	$15.71M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$9.01M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$7.81M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Other assets (including $38 and $65 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`OtherAssetsNoncurrent`	$818.00K	USD	Point-in-time
Other assets (including $38 and $65 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`OtherAssetsNoncurrent`	$477.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$85.00K	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$1.22M	USD	Point-in-time
Total assets	`Assets`	$207.60M	USD	Point-in-time
Total assets	`Assets`	$252.18M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$1.28M	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$957.00K	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$1.18M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$216.00K	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$200.00K	USD	Point-in-time
Accounts payable (including $2 and $136 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`AccountsPayableCurrent`	$18.56M	USD	Point-in-time
Accounts payable (including $2 and $136 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`AccountsPayableCurrent`	$18.47M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.65M	USD	Point-in-time
Accrued expenses (including $625 and $68 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`AccruedLiabilitiesCurrent`	$9.01M	USD	Point-in-time
Accrued expenses (including $625 and $68 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`AccruedLiabilitiesCurrent`	$7.81M	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`	$4.94M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Income taxes payable (including $0 and $9 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Income taxes payable (including $0 and $9 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`AccruedIncomeTaxesCurrent`	$85.00K	USD	Point-in-time
Customer deposits (including $165 and $88 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`ContractWithCustomerLiabilityCurrent`	$1.22M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Customer deposits (including $165 and $88 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`ContractWithCustomerLiabilityCurrent`	$1.28M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Debt, current portion (including $957 and $1,178 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`LongTermDebtCurrent`	$957.00K	USD	Point-in-time
Debt, current portion (including $957 and $1,178 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`LongTermDebtCurrent`	$1.18M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Operating lease liabilities, current portion	`OperatingLeaseLiabilityCurrent`	$4.51M	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
Operating lease liabilities, current portion	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$30.76M	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
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$5.63M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$5.16M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	19.83M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	19.91M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	19.80M	shares	Point-in-time
Long-term debt, net of current portion and debt discount of $216 and $200 at December 31, 2022 and December 31, 2021, respectively (including $41,558 and $35,339 associated with variable interest entity at December 31, 2022 and 2021, respectively, and debt discount of $216 and $200 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`LongTermDebtExcludingLongTermLineOfCreditNoncurrent`	$41.56M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	19.89M	shares	Point-in-time
Long-term debt, net of current portion and debt discount of $216 and $200 at December 31, 2022 and December 31, 2021, respectively (including $41,558 and $35,339 associated with variable interest entity at December 31, 2022 and 2021, respectively, and debt discount of $216 and $200 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`LongTermDebtExcludingLongTermLineOfCreditNoncurrent`	$35.34M	USD	Point-in-time
Treasury stock, par value (in dollars per share)	`TreasuryStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$11.62M	USD	Point-in-time
Treasury stock, par value (in dollars per share)	`TreasuryStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockCommonShares`	23,000.00	shares	Point-in-time
Other liabilities (including $1,302 and $2,637 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`OtherLiabilitiesNoncurrent`	$2.65M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockCommonShares`	23,000.00	shares	Point-in-time
Other liabilities (including $1,302 and $2,637 associated with variable interest entity at December 31, 2022 and 2021, respectively)	`OtherLiabilitiesNoncurrent`	$3.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$75.57M	USD	Point-in-time
Total liabilities	`Liabilities`	$100.24M	USD	Point-in-time
Commitments and Contingencies (Note 18)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 18)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued and outstanding, as of December 31, 2022 and 2021	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued and outstanding, as of December 31, 2022 and 2021	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 19,908,005 and 19,885,005 shares issued and outstanding, respectively, as of December 31, 2022 and 19,827,417 and 19,804,417 shares issued and outstanding, respectively, as of December 31, 2021	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 19,908,005 and 19,885,005 shares issued and outstanding, respectively, as of December 31, 2022 and 19,827,417 and 19,804,417 shares issued and outstanding, respectively, as of December 31, 2021	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$85.79M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$83.69M	USD	Point-in-time
Treasury stock, $0.001 par value, 23,000 shares as of both December 31, 2022 and 2021	`TreasuryStockValue`	$248.00K	USD	Point-in-time
Treasury stock, $0.001 par value, 23,000 shares as of both December 31, 2022 and 2021	`TreasuryStockValue`	$248.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$56.12M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$39.43M	USD	Point-in-time
Total Karat Packaging Inc. stockholders equity	`StockholdersEquity`	$141.68M	USD	Point-in-time
Total Karat Packaging Inc. stockholders equity	`StockholdersEquity`	$122.90M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$9.12M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$10.25M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$132.03M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.87M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$151.93M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$207.60M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$252.18M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$364.24M	USD	Annual
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$422.96M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$256.42M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$290.87M	USD	Annual
Gross profit	`GrossProfit`	$132.09M	USD	Annual
Gross profit	`GrossProfit`	$107.83M	USD	Annual
Selling expenses	`SellingExpense`	$35.84M	USD	Annual
Selling expenses	`SellingExpense`	$32.26M	USD	Annual
General and administrative expenses (including $2,775 and $2,550 associated with variable interest entity for the years ended December 31, 2022 and 2021, respectively)	`GeneralAndAdministrativeExpense`	$66.23M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$66.23M	USD	Annual
General and administrative expenses (including $2,775 and $2,550 associated with variable interest entity for the years ended December 31, 2022 and 2021, respectively)	`GeneralAndAdministrativeExpense`	$52.42M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$52.42M	USD	Annual
Rental income	`RentalIncomeNonoperating`	$931.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$84.68M	USD	Annual
Total operating expenses	`OperatingExpenses`	$102.07M	USD	Annual
Rental income	`RentalIncomeNonoperating`	$949.00K	USD	Annual
Other (expense) income	`OtherNonoperatingIncomeExpense`	$259.00K	USD	Annual
Operating income	`OperatingIncomeLoss`	$30.02M	USD	Annual
Operating income	`OperatingIncomeLoss`	$23.14M	USD	Annual
Other (expense) income	`OtherNonoperatingIncomeExpense`	$-228.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.51M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$2.23M	USD	Annual
Interest expense	`InterestExpense`	$2.02M	USD	Annual
Rental income (including $949 and $931 associated with variable interest entity for the years ended December 31, 2022 and 2021, respectively)	`RentalIncomeNonoperating`	$931.00K	USD	Annual
Interest expense	`InterestExpense`	$2.91M	USD	Annual
Rental income (including $949 and $931 associated with variable interest entity for the years ended December 31, 2022 and 2021, respectively)	`RentalIncomeNonoperating`	$949.00K	USD	Annual
Other (expense) income (including $0 and $9 other income associated with variable interest entity for the years ended December 31, 2022 and 2021, respectively)	`OtherNonoperatingIncomeExpense`	$259.00K	USD	Annual
Other (expense) income (including $0 and $9 other income associated with variable interest entity for the years ended December 31, 2022 and 2021, respectively)	`OtherNonoperatingIncomeExpense`	$-228.00K	USD	Annual
Gain (loss) on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-412.00K	USD	Annual
Gain (loss) on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.57M	USD	Annual
Interest income (including $2,171 and $1,270 associated with variable interest entity for the years ended December 31, 2022 and 2021, respectively)	`InvestmentIncomeInterest`	$1.51M	USD	Annual
Interest income (including $2,171 and $1,270 associated with variable interest entity for the years ended December 31, 2022 and 2021, respectively)	`InvestmentIncomeInterest`	$2.23M	USD	Annual
Interest expense (including $1,821 and $1,781 associated with variable interest entity for the years ended December 31, 2022 and 2021, respectively)	`InterestExpense`	$2.02M	USD	Annual
Interest expense (including $1,821 and $1,781 associated with variable interest entity for the years ended December 31, 2022 and 2021, respectively)	`InterestExpense`	$2.91M	USD	Annual
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	Annual
Total other income, net	`NonoperatingIncomeExpense`	$2.50M	USD	Annual
Total other income, net	`NonoperatingIncomeExpense`	$4.38M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$27.53M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$32.51M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.68M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.09M	USD	Annual
Net income	`ProfitLoss`	$22.44M	USD	Annual
Net income	`ProfitLoss`	$25.84M	USD	Annual
Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.66M	USD	Annual
Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.19M	USD	Annual
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$20.78M	USD	Annual
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$23.65M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.19	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.13	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.12	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.19	USD	Annual
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.82M	shares	Annual
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.41M	shares	Annual
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.93M	shares	Annual
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.57M	shares	Annual

Cash Flow Statement 108 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$22.44M	USD	Annual
Net income	`ProfitLoss`	$25.84M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.04M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.40M	USD	Annual
Adjustments to allowance for bad debt	`ProvisionForDoubtfulAccounts`	$1.01M	USD	Annual
Adjustments to allowance for bad debt	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Adjustments to inventory reserve	`InventoryWriteDown`	$68.00K	USD	Annual
Adjustments to inventory reserve	`InventoryWriteDown`	$6.00K	USD	Annual
Write-off of inventory	`WriteOffOfInventory`	$3.47M	USD	Annual
Write-off of inventory	`WriteOffOfInventory`	$1.42M	USD	Annual
Gain on sale of asset	`GainLossOnDispositionOfAssets1`	$32.00K	USD	Annual
Gain on sale of asset	`GainLossOnDispositionOfAssets1`	-	USD	Annual
Change in fair value of interest rate swap	`DerivativeGainLossOnDerivativeNet`	$1.51M	USD	Annual
Change in fair value of interest rate swap	`DerivativeGainLossOnDerivativeNet`	$2.16M	USD	Annual
Amortization of loan fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-40.00K	USD	Annual
Amortization of loan fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-18.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-483.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-478.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$2.03M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$2.05M	USD	Annual
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	Annual
Amortization of operating right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	-	USD	Annual
Amortization of operating right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$3.82M	USD	Annual
Impairment of deposit	`ImpairmentOfDeposit`	$465.00K	USD	Annual
Impairment of deposit	`ImpairmentOfDeposit`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.85M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.94M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$10.85M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$16.21M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.39M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.51M	USD	Annual
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$64.00K	USD	Annual
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$145.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-109.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$316.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.60M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$89.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.57M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.85M	USD	Annual
Related party payable	`IncreaseDecreaseInDueToRelatedParties`	$-3.04M	USD	Annual
Related party payable	`IncreaseDecreaseInDueToRelatedParties`	$2.94M	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$44.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-85.00K	USD	Annual
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$66.00K	USD	Annual
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$664.00K	USD	Annual
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	-	USD	Annual
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-3.78M	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$149.00K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$300.00K	USD	Annual
Other payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-794.00K	USD	Annual
Other payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	-	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$29.47M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.68M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.66M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.17M	USD	Annual
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	Annual
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$77.00K	USD	Annual
Deposits paid for property and equipment	`PaymentsForDepositsForPropertyPlantAndEquipment`	$12.09M	USD	Annual
Deposits paid for property and equipment	`PaymentsForDepositsForPropertyPlantAndEquipment`	$8.21M	USD	Annual
Deposits paid for joint venture investment	`PaymentsToAcquireInterestInJointVenture`	-	USD	Annual
Deposits paid for joint venture investment	`PaymentsToAcquireInterestInJointVenture`	$5.88M	USD	Annual
Deposits refunded from joint venture investment	`ProceedsFromDepositsRefundedFromJointVentureInvestment`	-	USD	Annual
Deposits refunded from joint venture investment	`ProceedsFromDepositsRefundedFromJointVentureInvestment`	$1.88M	USD	Annual
Proceeds from settlement of interest rate swap	`ProceedsFromDerivativeInstrumentInvestingActivities`	$825.00K	USD	Annual
Proceeds from settlement of interest rate swap	`ProceedsFromDerivativeInstrumentInvestingActivities`	-	USD	Annual
Acquisition of Pacific Cup, Inc., net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Acquisition of Pacific Cup, Inc., net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$900.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.28M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.84M	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$21.10M	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$1.47M	USD	Annual
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$34.64M	USD	Annual
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$21.10M	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$16.00M	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$27.48M	USD	Annual
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$39.27M	USD	Annual
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$21.57M	USD	Annual
Proceeds from issuance of common stock in connection with initial public offering, net of issuance costs	`ProceedsFromIssuanceInitialPublicOffering`	$67.59M	USD	Annual
Proceeds from issuance of common stock in connection with initial public offering, net of issuance costs	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$51.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$100.00K	USD	Annual
Dividends paid to shareholders	`PaymentsOfDividendsCommonStock`	-	USD	Annual
Dividends paid to shareholders	`PaymentsOfDividendsCommonStock`	$6.96M	USD	Annual
Payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	Annual
Payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$611.00K	USD	Annual
Payments of noncontrolling interest tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.06M	USD	Annual
Payments of noncontrolling interest tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.64M	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.07M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$9.56M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$6.04M	USD	Annual
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.48M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.04M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$448.00K	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.48M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.04M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$448.00K	USD	Point-in-time
Transfers from deposit to property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$4.98M	USD	Annual
Transfers from deposit to property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$9.86M	USD	Annual
Acquisition price of Pacific Cup, Inc. included within deposits	`AcquisitionPriceIncludedWithinDeposits`	-	USD	Annual
Acquisition price of Pacific Cup, Inc. included within deposits	`AcquisitionPriceIncludedWithinDeposits`	$100.00K	USD	Annual
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Gain on forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	$5.00M	USD	Annual
Cash paid for income tax	`IncomeTaxesPaidNet`	$8.30M	USD	Annual
Cash paid for income tax	`IncomeTaxesPaidNet`	$4.84M	USD	Annual
Cash paid for interest	`InterestPaidNet`	$1.98M	USD	Annual
Cash paid for interest	`InterestPaidNet`	$2.90M	USD	Annual

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Net of issuance costs	`PaymentsOfStockIssuanceCosts`	$5.09M	USD	Annual
Dividends paid to stockholders (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.35	USD	Annual
Balance at the beginning of period (in shares)	`CommonStockSharesOutstanding`	19.80M	shares	Point-in-time
Balance at the beginning of period (in shares)	`CommonStockSharesOutstanding`	19.89M	shares	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$132.03M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.87M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$151.93M	USD	Point-in-time
Treasury stock, balance at the beginning of period (in shares)	`TreasuryStockCommonShares`	23,000.00	shares	Point-in-time
Treasury stock, balance at the beginning of period (in shares)	`TreasuryStockCommonShares`	23,000.00	shares	Point-in-time
Issuance of common stock in connection with our initial public offering, net of issuance costs (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	4.54M	shares	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	Annual
Issuance of common stock in connection with our initial public offering, net of issuance costs of $5,088	`StockIssuedDuringPeriodValueNewIssues`	$67.59M	USD	Point-in-time
Cash dividends declared ($0.35 per share)	`DividendsCommonStockCash`	-	USD	Annual
Cash dividends declared ($0.35 per share)	`DividendsCommonStockCash`	$6.96M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.03M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.05M	USD	Annual
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	10,000.00	shares	Annual
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	5,000.00	shares	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$51.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$100.00K	USD	Annual
Noncontrolling interest tax withholding	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.06M	USD	Annual
Net income	`ProfitLoss`	$22.44M	USD	Annual
Net income	`ProfitLoss`	$25.84M	USD	Annual
Balance at the end of period (in shares)	`CommonStockSharesOutstanding`	19.80M	shares	Point-in-time
Balance at the end of period (in shares)	`CommonStockSharesOutstanding`	19.89M	shares	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$132.03M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.87M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$151.93M	USD	Point-in-time
Treasury stock, balance at the end of period (in shares)	`TreasuryStockCommonShares`	23,000.00	shares	Point-in-time
Treasury stock, balance at the end of period (in shares)	`TreasuryStockCommonShares`	23,000.00	shares	Point-in-time

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