CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents (including $13,566 and $2,022 associated with variable interest entity at December 31, 2023 and 2022, respectively)	$ 23,076	$ 16,041
Short-term investments	26,343	0
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)	27,763	29,912
Inventories	71,528	71,206
Prepaid expenses and other current assets (including $82 and $191 associated with variable interest entity at December 31, 2023 and 2022, respectively)	6,219	6,641
Total current assets	154,929	123,800
Property and equipment, net (including $44,185 and $45,399 associated with variable interest entity at December 31, 2023 and 2022, respectively)	95,226	95,568
Deposits	1,047	12,413
Goodwill	3,510	3,510
Intangible assets, net	327	353
Operating right-of-use assets	20,739	15,713
Other assets (including $53 and $38 associated with variable interest entity at December 31, 2023 and 2022, respectively)	619	818
Total assets	276,397	252,175
Current liabilities
Accrued expenses (including $591 and $625 associated with variable interest entity at December 31, 2023 and 2022, respectively)	10,576	9,005
Customer deposits (including $116 and $165 associated with variable interest entity at December 31, 2023 and 2022, respectively)	951	1,281
Long-term debt, current portion (including $1,122 and $957 associated with variable interest entity at December 31, 2023 and 2022, respectively)	1,122	957
Operating lease liabilities, current portion	4,800	4,511
Other payables (including $1,302 and $0 associated with variable interest entity at December 31, 2023 and 2022, respectively)	3,200	0
Total current liabilities	44,401	39,253
Deferred tax liability	4,197	5,156
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)	48,396	41,558
Operating lease liabilities, net of current portion	16,687	11,623
Other liabilities (including $0 and $1,302 associated with variable interest entity at December 31, 2023 and 2022, respectively)	26	2,652
Total liabilities	113,707	100,242
Commitments and Contingencies (Note 20)
Karat Packaging Inc. stockholders’ equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued and outstanding, as of December 31, 2023 and 2022	0	0
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	20	20
Additional paid in capital	86,667	85,792
Treasury stock, $0.001 par value, 23,000 shares as of both December 31, 2023 and 2022	(248)	(248)
Retained earnings	67,679	56,118
Total Karat Packaging Inc. stockholders’ equity	154,118	141,682
Noncontrolling interest	8,572	10,251
Total stockholders’ equity	162,690	151,933
Total liabilities and stockholders’ equity	276,397	252,175
Nonrelated Party
Current liabilities
Accounts payable (including $63 and $2 associated with variable interest entity at December 31, 2023 and 2022, respectively)	18,446	18,559
Related Party
Current liabilities
Accounts payable (including $63 and $2 associated with variable interest entity at December 31, 2023 and 2022, respectively)	$ 5,306	$ 4,940