10-K Filing

Karat Packaging Inc. CIK: 1758021 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001628280-24-011444`
Period End Date	20231231
Filing Date	20240315
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	krt-20231231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 112 Income Statement 56 Cash Flow Statement 146 Stockholders Equity 30

Balance Sheet 112 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.04M	USD	Point-in-time
Allowance for bad debt	`AllowanceForDoubtfulAccountsReceivableCurrent`	$392.00K	USD	Point-in-time
Allowance for bad debt	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.26M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.64M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.22M	USD	Point-in-time
Cash and cash equivalents (including $13,566 and $2,022 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`CashAndCashEquivalentsAtCarryingValue`	$23.08M	USD	Point-in-time
Cash and cash equivalents (including $13,566 and $2,022 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`CashAndCashEquivalentsAtCarryingValue`	$16.04M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$95.23M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$95.57M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$26.34M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$619.00K	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$818.00K	USD	Point-in-time
Accounts receivable, net of allowance for bad debt of $392 and $1,260 at December 31, 2023 and 2022, respectively (including $0 and $6 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`AccountsReceivableNetCurrent`	$29.91M	USD	Point-in-time
Accounts receivable, net of allowance for bad debt of $392 and $1,260 at December 31, 2023 and 2022, respectively (including $0 and $6 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`AccountsReceivableNetCurrent`	$27.76M	USD	Point-in-time
Inventories	`InventoryNet`	$71.53M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$10.58M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$9.01M	USD	Point-in-time
Inventories	`InventoryNet`	$71.21M	USD	Point-in-time
Prepaid expenses and other current assets (including $82 and $191 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`PrepaidExpenseAndOtherAssetsCurrent`	$6.64M	USD	Point-in-time
Prepaid expenses and other current assets (including $82 and $191 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`PrepaidExpenseAndOtherAssetsCurrent`	$6.22M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$951.00K	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$1.28M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$154.93M	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$957.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$123.80M	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$1.12M	USD	Point-in-time
Other payable	`OtherLiabilitiesCurrent`	-	USD	Point-in-time
Property and equipment, net (including $44,185 and $45,399 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`PropertyPlantAndEquipmentNet`	$95.23M	USD	Point-in-time
Other payable	`OtherLiabilitiesCurrent`	$3.20M	USD	Point-in-time
Property and equipment, net (including $44,185 and $45,399 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`PropertyPlantAndEquipmentNet`	$95.57M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$1.05M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$12.41M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$203.00K	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$216.00K	USD	Point-in-time
Goodwill	`Goodwill`	$3.51M	USD	Point-in-time
Goodwill	`Goodwill`	$3.51M	USD	Point-in-time
Goodwill	`Goodwill`	$3.51M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.65M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$327.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$353.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$26.00K	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
Operating right-of-use assets	`OperatingLeaseRightOfUseAsset`	$15.71M	USD	Point-in-time
Operating right-of-use assets	`OperatingLeaseRightOfUseAsset`	$20.74M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Other assets (including $53 and $38 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`OtherAssetsNoncurrent`	$619.00K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Other assets (including $53 and $38 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`OtherAssetsNoncurrent`	$818.00K	USD	Point-in-time
Total assets	`Assets`	$252.18M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total assets	`Assets`	$276.40M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	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
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
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`	19.99M	shares	Point-in-time
Accrued expenses (including $591 and $625 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`AccruedLiabilitiesCurrent`	$10.58M	USD	Point-in-time
Accrued expenses (including $591 and $625 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`AccruedLiabilitiesCurrent`	$9.01M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	19.91M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	19.97M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	19.89M	shares	Point-in-time
Customer deposits (including $116 and $165 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`ContractWithCustomerLiabilityCurrent`	$951.00K	USD	Point-in-time
Customer deposits (including $116 and $165 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`ContractWithCustomerLiabilityCurrent`	$1.28M	USD	Point-in-time
Long-term debt, current portion (including $1,122 and $957 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`LongTermDebtCurrent`	$957.00K	USD	Point-in-time
Treasury stock, par value (in dollars per share)	`TreasuryStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Long-term debt, current portion (including $1,122 and $957 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`LongTermDebtCurrent`	$1.12M	USD	Point-in-time
Treasury stock, par value (in dollars per share)	`TreasuryStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Operating lease liabilities, current portion	`OperatingLeaseLiabilityCurrent`	$4.80M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockCommonShares`	23,000.00	shares	Point-in-time
Operating lease liabilities, current portion	`OperatingLeaseLiabilityCurrent`	$4.51M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockCommonShares`	23,000.00	shares	Point-in-time
Other payables (including $1,302 and $0 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`OtherLiabilitiesCurrent`	-	USD	Point-in-time
Other payables (including $1,302 and $0 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`OtherLiabilitiesCurrent`	$3.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$44.40M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$4.20M	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 $203 and $216 at December 31, 2023 and December 31, 2022, respectively (including $48,396 and $41,558 associated with variable interest entity at December 31, 2023 and 2022, respectively, and debt discount of $203 and $216 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`LongTermDebtExcludingLongTermLineOfCreditNoncurrent`	$48.40M	USD	Point-in-time
Long-term debt, net of current portion and debt discount of $203 and $216 at December 31, 2023 and December 31, 2022, respectively (including $48,396 and $41,558 associated with variable interest entity at December 31, 2023 and 2022, respectively, and debt discount of $203 and $216 associated with variable interest entity at December 31, 2023 and 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`	$16.69M	USD	Point-in-time
Other liabilities (including $0 and $1,302 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`OtherLiabilitiesNoncurrent`	$2.65M	USD	Point-in-time
Other liabilities (including $0 and $1,302 associated with variable interest entity at December 31, 2023 and 2022, respectively)	`OtherLiabilitiesNoncurrent`	$26.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$113.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$100.24M	USD	Point-in-time
Commitments and Contingencies (Note 20)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 20)	`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, 2023 and 2022	`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, 2023 and 2022	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 19,988,482 and 19,965,482 shares issued and outstanding, respectively, as of December 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, 19,988,482 and 19,965,482 shares issued and outstanding, respectively, as of December 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`	$86.67M	USD	Point-in-time
Treasury stock, $0.001 par value, 23,000 shares as of both December 31, 2023 and 2022	`TreasuryStockCommonValue`	$248.00K	USD	Point-in-time
Treasury stock, $0.001 par value, 23,000 shares as of both December 31, 2023 and 2022	`TreasuryStockCommonValue`	$248.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$56.12M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$67.68M	USD	Point-in-time
Total Karat Packaging Inc. stockholders equity	`StockholdersEquity`	$154.12M	USD	Point-in-time
Total Karat Packaging Inc. stockholders equity	`StockholdersEquity`	$141.68M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$8.57M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$10.25M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$162.69M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$151.93M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$132.03M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$252.18M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$276.40M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$405.65M	USD	Annual
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$422.96M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$290.87M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$252.61M	USD	Annual
Gross profit	`GrossProfit`	$132.09M	USD	Annual
Gross profit	`GrossProfit`	$153.04M	USD	Annual
Selling expenses	`SellingExpense`	$41.49M	USD	Annual
Selling expenses	`SellingExpense`	$35.84M	USD	Annual
General and administrative expenses (including $2,749 and $2,775 associated with variable interest entity for the years ended December 31, 2023 and 2022, respectively)	`GeneralAndAdministrativeExpense`	$66.26M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$66.26M	USD	Annual
General and administrative expenses (including $2,749 and $2,775 associated with variable interest entity for the years ended December 31, 2023 and 2022, respectively)	`GeneralAndAdministrativeExpense`	$66.95M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$66.95M	USD	Annual
Rental income	`RentalIncomeNonoperating`	$1.09M	USD	Annual
Impairment expense and loss (gain), net, on disposal of machinery	`ImpairmentExpenseAndLossGainOnDisposalOfMachinery`	$2.52M	USD	Annual
Impairment expense and loss (gain), net, on disposal of machinery	`ImpairmentExpenseAndLossGainOnDisposalOfMachinery`	$-32.00K	USD	Annual
Rental income	`RentalIncomeNonoperating`	$949.00K	USD	Annual
Other (expense) income	`OtherNonoperatingIncomeExpense`	$-45.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$102.07M	USD	Annual
Other (expense) income	`OtherNonoperatingIncomeExpense`	$-228.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$110.97M	USD	Annual
Operating income	`OperatingIncomeLoss`	$30.02M	USD	Annual
Operating income	`OperatingIncomeLoss`	$42.08M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.80M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$2.23M	USD	Annual
Interest expense	`InterestExpense`	$2.04M	USD	Annual
Interest expense	`InterestExpense`	$2.02M	USD	Annual
Rental income (including $981 and $949 associated with variable interest entity for the years ended December 31, 2023 and 2022, respectively)	`RentalIncomeNonoperating`	$1.09M	USD	Annual
Rental income (including $981 and $949 associated with variable interest entity for the years ended December 31, 2023 and 2022, respectively)	`RentalIncomeNonoperating`	$949.00K	USD	Annual
Other expense, net	`OtherNonoperatingIncomeExpense`	$-45.00K	USD	Annual
Other expense, net	`OtherNonoperatingIncomeExpense`	$-228.00K	USD	Annual
Gain on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.57M	USD	Annual
Gain on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$103.00K	USD	Annual
Interest income (including $606 and $2,171 associated with variable interest entity for the years ended December 31, 2023 and 2022, respectively)	`InvestmentIncomeInterest`	$1.80M	USD	Annual
Interest income (including $606 and $2,171 associated with variable interest entity for the years ended December 31, 2023 and 2022, respectively)	`InvestmentIncomeInterest`	$2.23M	USD	Annual
Interest expense (including $2,019 and $1,821 associated with variable interest entity for the years ended December 31, 2023 and 2022, respectively)	`InterestExpense`	$2.04M	USD	Annual
Interest expense (including $2,019 and $1,821 associated with variable interest entity for the years ended December 31, 2023 and 2022, respectively)	`InterestExpense`	$2.02M	USD	Annual
Total other income, net	`NonoperatingIncomeExpense`	$908.00K	USD	Annual
Total other income, net	`NonoperatingIncomeExpense`	$2.50M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$32.51M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$42.98M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.68M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$9.80M	USD	Annual
Net income	`ProfitLoss`	$25.84M	USD	Annual
Net income	`ProfitLoss`	$33.18M	USD	Annual
Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.19M	USD	Annual
Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$710.00K	USD	Annual
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$23.65M	USD	Annual
Net income attributable to Karat Packaging Inc.	`NetIncomeLoss`	$32.47M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.63	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.19	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.63	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.19	USD	Annual
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.90M	shares	Annual
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.82M	shares	Annual
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.98M	shares	Annual
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.93M	shares	Annual

Cash Flow Statement 146 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$25.84M	USD	Annual
Net income	`ProfitLoss`	$33.18M	USD	Annual
Depreciation and amortization (including $1,214 associated with variable interest entity for both the year ended December 31, 2023 and 2022)	`DepreciationDepletionAndAmortization`	$10.78M	USD	Annual
Depreciation and amortization (including $1,214 associated with variable interest entity for both the year ended December 31, 2023 and 2022)	`DepreciationDepletionAndAmortization`	$10.40M	USD	Annual
Adjustments to allowance for bad debt	`ProvisionForDoubtfulAccounts`	$-711.00K	USD	Annual
Adjustments to allowance for bad debt	`ProvisionForDoubtfulAccounts`	$1.01M	USD	Annual
Adjustments to inventory reserve	`InventoryWriteDown`	$-399.00K	USD	Annual
Adjustments to inventory reserve	`InventoryWriteDown`	$6.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.78M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.40M	USD	Annual
Change in fair value of interest rate swap	`DerivativeGainLossOnDerivativeNet`	-	USD	Annual
Change in fair value of interest rate swap	`DerivativeGainLossOnDerivativeNet`	$2.16M	USD	Annual
Write-off of inventory	`WriteOffOfInventory`	$3.47M	USD	Annual
Write-off of inventory	`WriteOffOfInventory`	$3.90M	USD	Annual
Amortization of loan fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-81.00K	USD	Annual
Impairment of deposits	`ImpairmentOfDeposits`	$549.00K	USD	Annual
Impairment of deposits	`ImpairmentOfDeposits`	$465.00K	USD	Annual
Amortization of loan fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-40.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.86M	USD	Annual
Write-off of vendor prepayment	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$1.12M	USD	Annual
Write-off of vendor prepayment	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.85M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.51M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$466.00K	USD	Annual
Loss (gain), net, on disposal of machinery and equipment	`GainLossOnDispositionOfAssets1`	$-2.00M	USD	Annual
Loss (gain), net, on disposal of machinery and equipment	`GainLossOnDispositionOfAssets1`	$32.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$36.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.44M	USD	Annual
Change in fair value of interest rate swap (including $0 and $2,159 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`DerivativeGainLossOnDerivativeNet`	-	USD	Annual
Change in fair value of interest rate swap (including $0 and $2,159 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`DerivativeGainLossOnDerivativeNet`	$2.16M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$696.00K	USD	Annual
Amortization of loan fees (including $57 and $40 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`AmortizationOfDeferredLoanOriginationFeesNet`	$-81.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$89.00K	USD	Annual
Amortization of loan fees (including $57 and $40 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`AmortizationOfDeferredLoanOriginationFeesNet`	$-40.00K	USD	Annual
Accrued interest on certificates of deposit	`AccruedInterest`	-	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.57M	USD	Annual
Accrued interest on certificates of deposit	`AccruedInterest`	$155.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.57M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$2.05M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$770.00K	USD	Annual
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$66.00K	USD	Annual
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-330.00K	USD	Annual
Amortization of operating right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$4.97M	USD	Annual
Amortization of operating right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$3.82M	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$574.00K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$149.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-959.00K	USD	Annual
Proceeds from settlement of interest rate swap	`ProceedsFromSettlementOfInterestRateSwap`	$825.00K	USD	Annual
Proceeds from settlement of interest rate swap	`ProceedsFromSettlementOfInterestRateSwap`	-	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-478.00K	USD	Annual
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$49.19M	USD	Annual
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	-	USD	Annual
Accounts receivable (including $6 and $18 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInAccountsReceivable`	$-2.86M	USD	Annual
Proceeds from sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	$23.00M	USD	Annual
Proceeds from sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	-	USD	Annual
Accounts receivable (including $6 and $18 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInAccountsReceivable`	$-1.85M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$3.82M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$16.21M	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$27.48M	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$8.00M	USD	Annual
Prepaid expenses and other current assets (including $109 and $75 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.51M	USD	Annual
Prepaid expenses and other current assets (including $109 and $75 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$466.00K	USD	Annual
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$1.01M	USD	Annual
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$21.57M	USD	Annual
Distributions to shareholders, net of tax withholding	`PaymentsOfCapitalDistribution`	$2.29M	USD	Annual
Other assets (including $14 and $27 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInOtherOperatingAssets`	$36.00K	USD	Annual
Other assets (including $14 and $27 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInOtherOperatingAssets`	$-1.44M	USD	Annual
Distributions to shareholders, net of tax withholding	`PaymentsOfCapitalDistribution`	-	USD	Annual
Payments of noncontrolling interest tax withholding associated with variable interest entity	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.06M	USD	Annual
Payments of noncontrolling interest tax withholding associated with variable interest entity	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	Annual
Accounts payable (including $60 and $495 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInAccountsPayable`	$696.00K	USD	Annual
Accounts payable (including $60 and $495 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInAccountsPayable`	$89.00K	USD	Annual
Accrued expenses (including $34 and $402 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInAccruedLiabilities`	$1.57M	USD	Annual
Accrued expenses (including $34 and $402 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInAccruedLiabilities`	$1.57M	USD	Annual
Related party payable	`IncreaseDecreaseInDueToRelatedParties`	$366.00K	USD	Annual
Related party payable	`IncreaseDecreaseInDueToRelatedParties`	$2.94M	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-85.00K	USD	Annual
Customer deposits (including $49 and $77 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInContractWithCustomerLiability`	$66.00K	USD	Annual
Customer deposits (including $49 and $77 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInContractWithCustomerLiability`	$-330.00K	USD	Annual
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-4.64M	USD	Annual
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-3.78M	USD	Annual
Other liabilities (including $0 and $1 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInOtherOperatingLiabilities`	$574.00K	USD	Annual
Other liabilities (including $0 and $1 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`IncreaseDecreaseInOtherOperatingLiabilities`	$149.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$29.47M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$53.38M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.83M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.66M	USD	Annual
Proceeds on disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$77.00K	USD	Annual
Proceeds on disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$841.00K	USD	Annual
Payments for costs incurred from sale of machinery and equipment	`PaymentsForCostsIncurredFromSaleOfMachineryAndEquipment`	-	USD	Annual
Payments for costs incurred from sale of machinery and equipment	`PaymentsForCostsIncurredFromSaleOfMachineryAndEquipment`	$186.00K	USD	Annual
Deposits paid for joint venture investment	`PaymentsToAcquireInterestInJointVenture`	$5.88M	USD	Annual
Deposits paid for joint venture investment	`PaymentsToAcquireInterestInJointVenture`	$2.90M	USD	Annual
Deposits refunded from joint venture investment	`ProceedsFromDepositsRefundedFromJointVentureInvestment`	$6.90M	USD	Annual
Deposits refunded from joint venture investment	`ProceedsFromDepositsRefundedFromJointVentureInvestment`	$1.88M	USD	Annual
Deposits refunded from cancelled machinery orders	`DepositRefundFromCancelledPropertyAndEquipmentPurchase`	-	USD	Annual
Deposits refunded from cancelled machinery orders	`DepositRefundFromCancelledPropertyAndEquipmentPurchase`	$503.00K	USD	Annual
Deposits paid for property and equipment	`PaymentsForDepositsForPropertyPlantAndEquipment`	$12.09M	USD	Annual
Deposits paid for property and equipment	`PaymentsForDepositsForPropertyPlantAndEquipment`	$6.31M	USD	Annual
Proceeds from settlement of interest rate swap (including $0 and $825 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`ProceedsFromSettlementOfInterestRateSwap`	$825.00K	USD	Annual
Proceeds from settlement of interest rate swap (including $0 and $825 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`ProceedsFromSettlementOfInterestRateSwap`	-	USD	Annual
Purchase of short-term investments (including $8,000 and $0 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`PaymentsToAcquireShortTermInvestments`	$49.19M	USD	Annual
Purchase of short-term investments (including $8,000 and $0 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`PaymentsToAcquireShortTermInvestments`	-	USD	Annual
Redemption of short-term investments (including $8,000 and $0 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`ProceedsFromSaleOfShortTermInvestments`	$23.00M	USD	Annual
Redemption of short-term investments (including $8,000 and $0 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`ProceedsFromSaleOfShortTermInvestments`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.84M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.17M	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	-	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$21.10M	USD	Annual
Payments on line of credit	`RepaymentsOfLinesOfCredit`	-	USD	Annual
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$21.10M	USD	Annual
Proceeds from long-term debt (including $8,000 and $27,477 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$27.48M	USD	Annual
Proceeds from long-term debt (including $8,000 and $27,477 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit`	$8.00M	USD	Annual
Payments for lender fees	`PaymentsForLenderFees`	-	USD	Annual
Payments for lender fees	`PaymentsForLenderFees`	$61.00K	USD	Annual
Payments on long-term debt (including $1,010 and $21,572 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`RepaymentsOfLongTermDebt`	$1.01M	USD	Annual
Payments on long-term debt (including $1,010 and $21,572 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`RepaymentsOfLongTermDebt`	$21.57M	USD	Annual
Tax withholding on vesting of restricted stock units	`PaymentTaxWithholdingShareBasedPaymentArrangementRestrictedStockUnits`	-	USD	Annual
Tax withholding on vesting of restricted stock units	`PaymentTaxWithholdingShareBasedPaymentArrangementRestrictedStockUnits`	$18.00K	USD	Annual
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$51.00K	USD	Annual
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$123.00K	USD	Annual
Dividends paid to shareholders	`PaymentsOfDividendsCommonStock`	$6.96M	USD	Annual
Dividends paid to shareholders	`PaymentsOfDividendsCommonStock`	$20.91M	USD	Annual
Distributions to shareholders, net of tax withholding	`PaymentsOfCapitalDistribution`	$2.29M	USD	Annual
Distributions to shareholders, net of tax withholding	`PaymentsOfCapitalDistribution`	-	USD	Annual
Payments of noncontrolling interest tax withholding (including $0 and $1,063 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.06M	USD	Annual
Payments of noncontrolling interest tax withholding (including $0 and $1,063 associated with variable interest entity for the year ended December 31, 2023 and 2022, respectively)	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.17M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.07M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.04M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$9.56M	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`	$23.08M	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`	$23.08M	USD	Point-in-time
Transfers from deposit to property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$9.86M	USD	Annual
Transfers from deposit to property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$10.46M	USD	Annual
Non-cash purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$148.00K	USD	Annual
Non-cash purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$196.00K	USD	Annual
Cash paid for income tax	`IncomeTaxesPaidNet`	$8.30M	USD	Annual
Cash paid for income tax	`IncomeTaxesPaidNet`	$11.77M	USD	Annual
Cash paid for interest	`InterestPaidNet`	$1.98M	USD	Annual
Cash paid for interest	`InterestPaidNet`	$2.00M	USD	Annual

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Dividends paid to stockholders (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.35	USD	Annual
Dividends paid to stockholders (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$1.05	USD	Annual
Balance at the beginning of period (in shares)	`CommonStockSharesOutstanding`	19.97M	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`	$162.69M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$151.93M	USD	Point-in-time
Balance at the beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$132.03M	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
Cash dividends declared ($0.35 per share)	`DividendsCash`	$20.91M	USD	Annual
Cash dividends declared ($0.35 per share)	`DividendsCash`	$6.96M	USD	Annual
Issuance of common stock upon vesting of restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$-18.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$770.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.05M	USD	Annual
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	5,000.00	shares	Annual
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	6,860.00	shares	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$51.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$123.00K	USD	Annual
Distributions to shareholders, net of tax withholding	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$2.29M	USD	Annual
Noncontrolling interest tax withholding	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.06M	USD	Annual
Noncontrolling interest tax withholding	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$94.00K	USD	Annual
Net income	`ProfitLoss`	$25.84M	USD	Annual
Net income	`ProfitLoss`	$33.18M	USD	Annual
Balance at the end of period (in shares)	`CommonStockSharesOutstanding`	19.97M	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`	$162.69M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$151.93M	USD	Point-in-time
Balance at the end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$132.03M	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.