10-Q Filing

Karat Packaging Inc. CIK: 1758021 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001628280-23-017302`
Period End Date	20230331
Filing Date	20230510
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	krt-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 118 Income Statement 52 Cash Flow Statement 118 Stockholders Equity 23

Balance Sheet 118 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents (including $14,411 and $2,022 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`CashAndCashEquivalentsAtCarryingValue`	$23.23M	USD	Point-in-time
Cash and cash equivalents (including $14,411 and $2,022 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`CashAndCashEquivalentsAtCarryingValue`	$16.04M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$10.00M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	-	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $451 and $1,260 at March 31, 2023 and December 31, 2022, respectively (including $12 and $6 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`AccountsReceivableNetCurrent`	$32.97M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $451 and $1,260 at March 31, 2023 and December 31, 2022, respectively (including $12 and $6 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`AccountsReceivableNetCurrent`	$29.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.23M	USD	Point-in-time
Inventories	`InventoryNet`	$71.21M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.04M	USD	Point-in-time
Inventories	`InventoryNet`	$70.91M	USD	Point-in-time
Allowance for bad debt	`AllowanceForDoubtfulAccountsReceivableCurrent`	$451.00K	USD	Point-in-time
Prepaid expenses and other current assets (including $136 and $191 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`PrepaidExpenseAndOtherAssetsCurrent`	$6.64M	USD	Point-in-time
Allowance for bad debt	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.26M	USD	Point-in-time
Prepaid expenses and other current assets (including $136 and $191 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`PrepaidExpenseAndOtherAssetsCurrent`	$4.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$141.56M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.64M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$123.80M	USD	Point-in-time
Property and equipment, net (including $45,095 and $45,399 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`PropertyPlantAndEquipmentNet`	$99.42M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$99.42M	USD	Point-in-time
Property and equipment, net (including $45,095 and $45,399 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`PropertyPlantAndEquipmentNet`	$95.57M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$95.57M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.04M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$12.41M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$818.00K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$11.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.74M	USD	Point-in-time
Goodwill	`Goodwill`	$3.51M	USD	Point-in-time
Goodwill	`Goodwill`	$3.51M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$347.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$353.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$9.01M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$7.88M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$1.28M	USD	Point-in-time
Operating right-of-use assets	`OperatingLeaseRightOfUseAsset`	$14.72M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$955.00K	USD	Point-in-time
Operating right-of-use assets	`OperatingLeaseRightOfUseAsset`	$15.71M	USD	Point-in-time
Other assets (including $73 and $38 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`OtherAssetsNoncurrent`	$2.04M	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$957.00K	USD	Point-in-time
Other assets (including $73 and $38 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`OtherAssetsNoncurrent`	$818.00K	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$962.00K	USD	Point-in-time
Total assets	`Assets`	$252.18M	USD	Point-in-time
Total assets	`Assets`	$273.28M	USD	Point-in-time
Long-term debt, net of current portion and debt discount	`LongTermDebtNoncurrent`	$202.00K	USD	Point-in-time
Long-term debt, net of current portion and debt discount	`LongTermDebtNoncurrent`	$216.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.65M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.67M	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
Accounts payable (including $2 associated with variable interest entity at both March 31, 2023 and December 31, 2022)	`AccountsPayableCurrent`	$18.56M	USD	Point-in-time
Accounts payable (including $2 associated with variable interest entity at both March 31, 2023 and December 31, 2022)	`AccountsPayableCurrent`	$17.74M	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
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
Accrued expenses (including $210 and $625 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`AccruedLiabilitiesCurrent`	$9.01M	USD	Point-in-time
Accrued expenses (including $210 and $625 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`AccruedLiabilitiesCurrent`	$7.88M	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$4.94M	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$9.91M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	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
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.78M	USD	Point-in-time
Customer deposits (including $182 and $165 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`ContractWithCustomerLiabilityCurrent`	$1.28M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Customer deposits (including $182 and $165 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`ContractWithCustomerLiabilityCurrent`	$955.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	19.91M	shares	Point-in-time
Long-term debt, current portion (including $962 and $957 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`LongTermDebtCurrent`	$957.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	19.91M	shares	Point-in-time
Long-term debt, current portion (including $962 and $957 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`LongTermDebtCurrent`	$962.00K	USD	Point-in-time
Operating lease liabilities, current portion	`OperatingLeaseLiabilityCurrent`	$4.51M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	19.89M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	19.89M	shares	Point-in-time
Operating lease liabilities, current portion	`OperatingLeaseLiabilityCurrent`	$4.51M	USD	Point-in-time
Other payables	`OtherNotesPayable`	-	USD	Point-in-time
Other payables	`OtherNotesPayable`	$452.00K	USD	Point-in-time
Treasury stock, par value (in dollars per share)	`TreasuryStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Treasury stock, par value (in dollars per share)	`TreasuryStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$44.18M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockCommonShares`	23,000.00	shares	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.25M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockCommonShares`	23,000.00	shares	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$5.16M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$5.16M	USD	Point-in-time
Long-term debt, net of current portion and debt discount of $202 and $216 at March 31, 2023 and December 31, 2022, respectively (including $49,325 and $41,558 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively, and debt discount of $202 and $216 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`LongTermDebtExcludingLongTermLineOfCreditNoncurrent`	$49.33M	USD	Point-in-time
Long-term debt, net of current portion and debt discount of $202 and $216 at March 31, 2023 and December 31, 2022, respectively (including $49,325 and $41,558 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively, and debt discount of $202 and $216 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	`LongTermDebtExcludingLongTermLineOfCreditNoncurrent`	$41.56M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$11.62M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$10.56M	USD	Point-in-time
Other liabilities (including $1,302 associated with variable interest entity at both March 31, 2023 and December 31, 2022)	`OtherLiabilitiesNoncurrent`	$2.65M	USD	Point-in-time
Other liabilities (including $1,302 associated with variable interest entity at both March 31, 2023 and December 31, 2022)	`OtherLiabilitiesNoncurrent`	$2.67M	USD	Point-in-time
Total liabilities	`Liabilities`	$100.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$111.90M	USD	Point-in-time
Commitments and Contingencies (Note 16)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 16)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued and outstanding, at both March 31, 2023 and December 31, 2022	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued and outstanding, at both March 31, 2023 and December 31, 2022	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 19,910,457 and 19,887,457 shares issued and outstanding, respectively, as of March 31, 2023 and 19,908,005 and 19,885,005 shares issued and outstanding, respectively, as of December 31, 2022	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 19,910,457 and 19,887,457 shares issued and outstanding, respectively, as of March 31, 2023 and 19,908,005 and 19,885,005 shares issued and outstanding, respectively, as of December 31, 2022	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$85.79M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$86.06M	USD	Point-in-time
Treasury stock, $0.001 par value, 23,000 shares at both March 31, 2023 and December 31, 2022	`TreasuryStockValue`	$248.00K	USD	Point-in-time
Treasury stock, $0.001 par value, 23,000 shares at both March 31, 2023 and December 31, 2022	`TreasuryStockValue`	$248.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$65.12M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$56.12M	USD	Point-in-time
Total Karat Packaging Inc. stockholders equity	`StockholdersEquity`	$141.68M	USD	Point-in-time
Total Karat Packaging Inc. stockholders equity	`StockholdersEquity`	$150.95M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$10.25M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$10.43M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$132.03M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$151.93M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$161.38M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$140.24M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$273.28M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$252.18M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$95.80M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$105.41M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$57.66M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$71.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$38.14M	USD	1 Quarter
Gross profit	`GrossProfit`	$34.29M	USD	1 Quarter
Selling expenses	`SellingExpense`	$8.70M	USD	1 Quarter
Selling expenses	`SellingExpense`	$9.34M	USD	1 Quarter
General and administrative expenses (including $671 and $629 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`GeneralAndAdministrativeExpense`	$16.71M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$16.71M	USD	1 Quarter
General and administrative expenses (including $671 and $629 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`GeneralAndAdministrativeExpense`	$15.46M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$15.46M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$25.41M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$24.80M	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	$247.00K	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	$238.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$9.49M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$12.73M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.31M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$67.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$407.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$473.00K	USD	1 Quarter
Rental income (including $247 and $238 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`RentalIncomeNonoperating`	$247.00K	USD	1 Quarter
Rental income (including $247 and $238 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`RentalIncomeNonoperating`	$238.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-82.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-208.00K	USD	1 Quarter
(Loss) gain on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-427.00K	USD	1 Quarter
(Loss) gain on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$133.00K	USD	1 Quarter
Interest income (including $16 and $1,313 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`InvestmentIncomeInterest`	$1.31M	USD	1 Quarter
Interest income (including $16 and $1,313 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`InvestmentIncomeInterest`	$67.00K	USD	1 Quarter
Interest expense (including $406 and $448 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`InterestExpense`	$407.00K	USD	1 Quarter
Interest expense (including $406 and $448 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`InterestExpense`	$473.00K	USD	1 Quarter
Total other (expense) income, net	`NonoperatingIncomeExpense`	$-728.00K	USD	1 Quarter
Total other (expense) income, net	`NonoperatingIncomeExpense`	$1.13M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.00M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.62M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.82M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.68M	USD	1 Quarter
Net income	`ProfitLoss`	$9.19M	USD	1 Quarter
Net income	`ProfitLoss`	$7.94M	USD	1 Quarter
Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$181.00K	USD	1 Quarter
Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.28M	USD	1 Quarter
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$9.01M	USD	1 Quarter
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$6.67M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.45	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.34	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.34	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.45	USD	1 Quarter
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.89M	shares	1 Quarter
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.81M	shares	1 Quarter
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.94M	shares	1 Quarter
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.90M	shares	1 Quarter

Cash Flow Statement 118 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$9.19M	USD	1 Quarter
Net income	`ProfitLoss`	$7.94M	USD	1 Quarter
Depreciation and amortization (including $304 and $303 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`DepreciationDepletionAndAmortization`	$2.58M	USD	1 Quarter
Depreciation and amortization (including $304 and $303 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`DepreciationDepletionAndAmortization`	$2.63M	USD	1 Quarter
Adjustments to allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-652.00K	USD	1 Quarter
Adjustments to allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$500.00K	USD	1 Quarter
Adjustments to inventory reserve	`InventoryWriteDown`	$476.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.58M	USD	1 Quarter
Adjustments to inventory reserve	`InventoryWriteDown`	$288.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.63M	USD	1 Quarter
Write-off of inventory	`WriteOffOfInventory`	$216.00K	USD	1 Quarter
Write-off of inventory	`WriteOffOfInventory`	-	USD	1 Quarter
Change in fair value of interest rate swap (including $0 and $1,313 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Change in fair value of interest rate swap (including $0 and $1,313 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`DerivativeGainLossOnDerivativeNet`	$1.31M	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-82.00K	USD	1 Quarter
Amortization of loan fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-9.00K	USD	1 Quarter
Amortization of loan fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-17.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.41M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.06M	USD	1 Quarter
Change in fair value of interest rate swap (including $0 and $1,313 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Change in fair value of interest rate swap (including $0 and $1,313 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`DerivativeGainLossOnDerivativeNet`	$1.31M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.02M	USD	1 Quarter
Amortization of loan fees (including $16 and $9 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`AmortizationOfDeferredLoanOriginationFeesNet`	$-9.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$895.00K	USD	1 Quarter
Amortization of loan fees (including $16 and $9 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`AmortizationOfDeferredLoanOriginationFeesNet`	$-17.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$611.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-9.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-88.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$277.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.53M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.98M	USD	1 Quarter
Amortization of operating right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$997.00K	USD	1 Quarter
Amortization of operating right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$650.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$547.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.13M	USD	1 Quarter
Accounts receivable (including $7 and $18 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`IncreaseDecreaseInAccountsReceivable`	$2.41M	USD	1 Quarter
Accounts receivable (including $7 and $18 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`IncreaseDecreaseInAccountsReceivable`	$11.06M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-326.00K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$233.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$19.34M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$207.00K	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$6.88M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$8.00M	USD	1 Quarter
Payments on long-term debt (including $241 and $267 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`RepaymentsOfLongTermDebt`	$241.00K	USD	1 Quarter
Payments on long-term debt (including $241 and $267 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`RepaymentsOfLongTermDebt`	$267.00K	USD	1 Quarter
Prepaid expenses and other current assets (including $52 and $108 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.02M	USD	1 Quarter
Prepaid expenses and other current assets (including $52 and $108 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$895.00K	USD	1 Quarter
Tax withholding on vesting of restricted stock units (including $0 and $310 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`PaymentTaxWithholdingShareBasedPaymentArrangementRestrictedStockUnits`	-	USD	1 Quarter
Tax withholding on vesting of restricted stock units (including $0 and $310 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`PaymentTaxWithholdingShareBasedPaymentArrangementRestrictedStockUnits`	$14.00K	USD	1 Quarter
Other assets (including $88 and $122 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`IncreaseDecreaseInOtherOperatingAssets`	$-9.00K	USD	1 Quarter
Other assets (including $88 and $122 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`IncreaseDecreaseInOtherOperatingAssets`	$-88.00K	USD	1 Quarter
Accounts payable (including $1 and $390 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`IncreaseDecreaseInAccountsPayable`	$5.53M	USD	1 Quarter
Accounts payable (including $1 and $390 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`IncreaseDecreaseInAccountsPayable`	$-1.98M	USD	1 Quarter
Accrued expenses (including $415 and $136 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`IncreaseDecreaseInAccruedLiabilities`	$547.00K	USD	1 Quarter
Accrued expenses (including $415 and $136 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`IncreaseDecreaseInAccruedLiabilities`	$-1.13M	USD	1 Quarter
Related party payable	`IncreaseDecreaseInDueToRelatedParties`	$-743.00K	USD	1 Quarter
Related party payable	`IncreaseDecreaseInDueToRelatedParties`	$4.97M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.78M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.89M	USD	1 Quarter
Customer deposits (including $17 and $7 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`IncreaseDecreaseInContractWithCustomerLiability`	$-326.00K	USD	1 Quarter
Customer deposits (including $17 and $7 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`IncreaseDecreaseInContractWithCustomerLiability`	$233.00K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-667.00K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-1.07M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$22.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	1 Quarter
Other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$452.00K	USD	1 Quarter
Other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$1.53M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.43M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.19M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.04M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$824.00K	USD	1 Quarter
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$25.00K	USD	1 Quarter
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Deposits paid for joint venture investment	`PaymentsForDepositsForPropertyPlantAndEquipment`	$1.72M	USD	1 Quarter
Deposits paid for joint venture investment	`PaymentsForDepositsForPropertyPlantAndEquipment`	$3.97M	USD	1 Quarter
Deposits refunded from joint venture investment	`PaymentsToAcquireInterestInJointVenture`	$2.90M	USD	1 Quarter
Deposits refunded from joint venture investment	`PaymentsToAcquireInterestInJointVenture`	-	USD	1 Quarter
Deposits paid for property and equipment	`ProceedsFromDepositsRefundedFromJointVentureInvestment`	$950.00K	USD	1 Quarter
Deposits paid for property and equipment	`ProceedsFromDepositsRefundedFromJointVentureInvestment`	-	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$10.00M	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.69M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.79M	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$10.20M	USD	1 Quarter
Proceeds from long-term debt (including $8,000 and $6,885 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$6.88M	USD	1 Quarter
Proceeds from long-term debt (including $8,000 and $6,885 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$8.00M	USD	1 Quarter
Payments for lender fees	`RepaymentsOfLinesOfCredit`	$61.00K	USD	1 Quarter
Payments for lender fees	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Payments on long-term debt (including $241 and $267 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`RepaymentsOfLongTermDebt`	$241.00K	USD	1 Quarter
Payments on long-term debt (including $241 and $267 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`RepaymentsOfLongTermDebt`	$267.00K	USD	1 Quarter
Tax withholding on vesting of restricted stock units (including $0 and $310 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`PaymentTaxWithholdingShareBasedPaymentArrangementRestrictedStockUnits`	-	USD	1 Quarter
Tax withholding on vesting of restricted stock units (including $0 and $310 associated with variable interest entity for the three months ended March 31, 2023 and 2022, respectively)	`PaymentTaxWithholdingShareBasedPaymentArrangementRestrictedStockUnits`	$14.00K	USD	1 Quarter
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$51.00K	USD	1 Quarter
Payments of noncontrolling interest tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$310.00K	USD	1 Quarter
Payments of noncontrolling interest tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.56M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.68M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.18M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$337.00K	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.82M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.48M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.04M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.23M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.82M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.48M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.04M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.23M	USD	Point-in-time
Transfers from deposit to property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$416.00K	USD	1 Quarter
Transfers from deposit to property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$4.38M	USD	1 Quarter
Non-cash purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$1.16M	USD	1 Quarter
Non-cash purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter
Cash paid for income tax	`IncomeTaxesPaidNet`	$200.00K	USD	1 Quarter
Cash paid for income tax	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$421.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$440.00K	USD	1 Quarter

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning of period (in shares)	`CommonStockSharesOutstanding`	19.89M	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`	$151.93M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$161.38M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$140.24M	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
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$611.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$277.00K	USD	1 Quarter
Issuance of common stock upon vesting of? restricted stock units, net shares withheld to? cover taxes	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$-14.00K	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$51.00K	USD	1 Quarter
Noncontrolling interest tax withholding	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$387.00K	USD	1 Quarter
Net income	`ProfitLoss`	$9.19M	USD	1 Quarter
Net income	`ProfitLoss`	$7.94M	USD	1 Quarter
Balance at the end of period (in shares)	`CommonStockSharesOutstanding`	19.89M	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`	$151.93M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$161.38M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$140.24M	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.