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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Statement [Abstract]        
Net sales $ 123,986 $ 112,600 $ 227,610 $ 208,213
Cost of goods sold 74,879 69,193 137,741 127,204
Gross profit 49,107 43,407 89,869 81,009
Operating expenses        
Selling expenses 13,716 13,868 28,127 24,631
General and administrative expenses (including $785 and $689 associated with variable interest entity for the three months ended June 30, 2025 and 2024, respectively; $1,462 and $1,245 associated with variable interest entity for the six months ended June 30, 2025 and 2024, respectively) 19,124 17,893 37,672 34,662
Impairment expense and (gain) loss, net, on disposal of property and equipment (283) 531 (300) 2,525
Total operating expenses 32,557 32,292 65,499 61,818
Operating income 16,550 11,115 24,370 19,191
Other income (expenses)        
Rental income (including $361 and $258 associated with variable interest entity for the three months ended June 30, 2025 and 2024, respectively; $807 and $513 associated with variable interest entity for the six months ended June 30, 2025 and 2024, respectively) 755 600 1,531 891
Other (expenses) income, net (82) 51 (38) 106
(Loss) gain on foreign currency transactions (2,867) 317 (2,628) 439
Interest income (including $85 and $133 associated with variable interest entity for the three months ended June 30, 2025 and 2024, respectively; $311 and 346 associated with variable interest entity for the six months ended June 30, 2025 and 2024, respectively) 676 533 1,242 964
Interest expense (including $509 and $519 associated with variable interest entity for the three months ended June 30, 2025 and 2024, respectively; $1,009 and $1,036 associated with variable interest entity for the six months ended June 30, 2025 and 2024, respectively) (521) (548) (1,030) (1,072)
Total other (expenses) income, net (2,039) 953 (923) 1,328
Income before provision for income taxes 14,511 12,068 23,447 20,519
Provision for income taxes 3,459 2,841 5,580 4,816
Net income 11,052 9,227 17,867 15,703
Net income attributable to noncontrolling interest 118 127 524 437
Net income attributable to Karat Packaging Inc. $ 10,934 $ 9,100 $ 17,343 $ 15,266
Basic and diluted earnings per share:        
Basic (in dollars per share) $ 0.55 $ 0.46 $ 0.87 $ 0.76
Diluted (in dollars per share) $ 0.54 $ 0.45 $ 0.86 $ 0.76
Weighted average common shares outstanding, basic (in shares) 20,058,247 19,994,250 20,047,436 19,981,928
Weighted average common shares outstanding, diluted (in shares) 20,191,111 20,113,842 20,194,942 20,094,664