Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of earnings per share

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(in thousands, except per share data)
Net income attributable to Karat Packaging Inc.	$10,502		$6,344		$19,507		$13,011
Weighted average number of common shares in issue	19,887		19,809		19,887		19,809
Basic earnings per share	$	0.53	$	0.32	$	0.98	$	0.66

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(in thousands, except per share data)
Net income attributable to Karat Packaging Inc.	$	10,502	$	6,344	$	19,507	$	13,011
Weighted average number of common shares in issue	19,887		19,809		19,887		19,809
Dilutive shares
Stock options and restricted stock units	67		118		60		105
Adjusted weighted average number of common shares	19,954		19,927		19,947		19,914
Diluted earnings per share	$	0.53	$	0.32	$	0.98	$	0.65