CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents (including $4,327 and $13,566 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	$ 13,144	$ 23,076
Short-term investments (including $7,038 and $0 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	33,515	26,343
Accounts receivable, net of allowance for bad debt of $342 and $392 at March 31, 2024 and December 31, 2023, respectively	30,111	27,763
Inventories	79,272	71,528
Prepaid expenses and other current assets (including $78 and $82 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	4,492	6,219
Total current assets	160,534	154,929
Property and equipment, net (including $43,882 and $44,185 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	93,853	95,226
Deposits	229	1,047
Goodwill	3,510	3,510
Intangible assets, net	320	327
Operating right-of-use assets	19,360	20,739
Other non-current assets (including $67 and $53 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	1,232	619
Total assets	279,038	276,397
Current liabilities
Accrued expenses (including $171 and $591 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	11,318	10,576
Customer deposits (including $0 and $116 associated with variable interest entity at March 31, 2024 and December 31, 2023)	725	951
Long-term debt, current portion (including $1,139 and $1,122 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	1,139	1,122
Operating lease liabilities, current portion	4,439	4,800
Other current liabilities (including $2,186 and $1,302 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	3,875	3,200
Total current liabilities	48,190	44,401
Deferred tax liability	4,197	4,197
Long-term debt, net of current portion and debt discount of $187 and $203 at March 31, 2024 and December 31, 2023, respectively (including $48,116 and $48,396 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively, and debt discount of $187 and $203 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	48,116	48,396
Operating lease liabilities, net of current portion	17,754	16,687
Other non-current liabilities	389	26
Total liabilities	118,646	113,707
Commitments and Contingencies (Note 14)
Karat Packaging Inc. stockholders’ equity
Preferred stock, $0.001 par value, $10,000,000 shares authorized, no shares issued and outstanding, as of March 31, 2024 and December 31, 2023	0	0
Common stock, $0.001 par value, $100,000,000 shares authorized, $19,995,032 and $19,972,032 shares issued and outstanding, respectively, as of March 31, 2024 and $19,988,482 and $19,965,482 shares issued and outstanding, respectively, as of December 31, 2023	20	20
Additional paid in capital	87,094	86,667
Treasury stock, $0.001 par value, $23,000 shares as of both March 31, 2024 and December 31, 2023	(248)	(248)
Retained earnings	67,537	67,679
Total Karat Packaging Inc. stockholders’ equity	154,403	154,118
Noncontrolling interest	5,989	8,572
Total stockholders’ equity	160,392	162,690
Total liabilities and stockholders’ equity	279,038	276,397
VIE, Primary Beneficiary
Current assets
Cash and cash equivalents (including $4,327 and $13,566 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	4,327	13,566
Short-term investments (including $7,038 and $0 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	7,038	0
Prepaid expenses and other current assets (including $78 and $82 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	78	82
Property and equipment, net (including $43,882 and $44,185 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	43,882	44,185
Other non-current assets (including $67 and $53 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	67	53
Current liabilities
Accounts Payable, Current	68	63
Accrued expenses (including $171 and $591 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	171	591
Customer deposits (including $0 and $116 associated with variable interest entity at March 31, 2024 and December 31, 2023)	0	116
Long-term debt, current portion (including $1,139 and $1,122 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	1,139	1,122
Other current liabilities (including $2,186 and $1,302 associated with variable interest entity at March 31, 2024 and December 31, 2023, respectively)	2,186	1,302
Nonrelated Party
Current liabilities
Accounts Payable, Current	21,394	18,446
Related Party
Current liabilities
Accounts Payable, Current	$ 5,300	$ 5,306