Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Schedule of earnings per share

Basic earnings per share is calculated by dividing the net income attributable to the Company for the period by the weighted average number of common shares outstanding during the related period.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(in thousands, except per share data)
Net income attributable to Karat Packaging Inc.	$	6,344	$	9,583	$	13,011	$	11,363
Weighted average number of common shares in issue	19,809		18,909		19,809		17,048
Basic earnings per share	$	0.32	$	0.51	$	0.66	$	0.67

The following table summarizes the calculation of diluted earnings per share:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(in thousands, except per share data)
Net income attributable to Karat Packaging Inc.	$	6,344	$	9,583	$	13,011	$	11,363
Weighted average number of common shares in issue	19,809		18,909		19,809		17,048
Dilutive shares
Stock options and restricted stock units	118		117		105		117
Adjusted weighted average number of common shares	19,927		19,026		19,914		17,165
Diluted earnings per share	$	0.32	$	0.50	$	0.65	$	0.66