Earnings Per Share (Tables)

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(in thousands, except per share data)
Net income attributable to Karat Packaging Inc.	$9,065		$6,096		$28,572		$19,107
Weighted average number of common shares in issue	19,891		19,809		19,888		19,809
Basic earnings per share	$	0.46	$	0.31	$	1.44	$	0.96

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(in thousands, except per share data)
Net income attributable to Karat Packaging Inc.	$	9,065	$	6,096	$	28,572	$	19,107
Weighted average number of common shares in issue	19,891		19,809		19,888		19,809
Dilutive shares
Stock options and restricted stock units	104		129		75		113
Adjusted weighted average number of common shares	19,995		19,938		19,963		19,922
Diluted earnings per share	$	0.45	$	0.31	$	1.43	$	0.96