CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents (including $4,705 and $13,566 associated with variable interest entity at June 30, 2024 and December 31, 2023, respectively)	$ 19,311	$ 23,076
Short-term investments (including $7,132 and $0 associated with variable interest entity at June 30, 2024 and December 31, 2023, respectively)	32,743	26,343
Accounts receivable, net of allowance for bad debt of $491 and $392 at June 30, 2024 and December 31, 2023, respectively	33,683	27,763
Inventories	79,841	71,528
Prepaid expenses and other current assets (including $72 and $82 associated with variable interest entity at June 30, 2024 and December 31, 2023, respectively)	4,265	6,219
Total current assets	169,843	154,929
Property and equipment, net (including $43,578 and $44,185 associated with variable interest entity at June 30, 2024 and December 31, 2023, respectively)	92,281	95,226
Deposits	159	1,047
Goodwill	3,510	3,510
Intangible assets, net	313	327
Operating right-of-use assets	43,403	20,739
Other non-current assets (including $44 and $53 associated with variable interest entity at June 30, 2024 and December 31, 2023, respectively)	1,184	619
Total assets	310,693	276,397
Current liabilities
Accrued expenses (including $268 and $591 associated with variable interest entity at June 30, 2024 and December 31, 2023, respectively)	13,947	10,576
Customer deposits (including $0 and $116 associated with variable interest entity at June 30, 2024 and December 31, 2023)	877	951
Long-term debt, current portion (including $1,150 and $1,122 associated with variable interest entity at June 30, 2024 and December 31, 2023, respectively)	1,150	1,122
Operating lease liabilities, current portion	7,758	4,800
Other current liabilities (including $2,186 and $1,302 associated with variable interest entity at June 30, 2024 and December 31, 2023, respectively)	3,686	3,200
Total current liabilities	55,607	44,401
Deferred tax liability	4,197	4,197
Long-term debt, net of current portion and debt discount of $172 and $203 at June 30, 2024 and December 31, 2023, respectively (including $47,844 and $48,396 associated with variable interest entity at June 30, 2024 and December 31, 2023, respectively, and debt discount of $172 and $203 associated with variable interest entity at June 30, 2024 and December 31, 2023, respectively)	47,844	48,396
Operating lease liabilities, net of current portion	38,854	16,687
Other non-current liabilities (including $116 and $0 associated with variable interest entity at June 30, 2024 and December 31, 2023 respectively)	363	26
Total liabilities	146,865	113,707
Commitments and Contingencies (Note 15)
Karat Packaging Inc. stockholders’ equity
Preferred stock, $0.001 par value, $10,000,000 shares authorized, no shares issued and outstanding, as of June 30, 2024 and December 31, 2023	0	0
Common stock, $0.001 par value, $100,000,000 shares authorized, $20,037,665 and $20,014,665 shares issued and outstanding, respectively, as of June 30, 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	88,307	86,667
Treasury stock, $0.001 par value, $23,000 shares as of both June 30, 2024 and December 31, 2023	(248)	(248)
Retained earnings	69,633	67,679
Total Karat Packaging Inc. stockholders’ equity	157,712	154,118
Noncontrolling interest	6,116	8,572
Total stockholders’ equity	163,828	162,690
Total liabilities and stockholders’ equity	310,693	276,397
Nonrelated Party
Current liabilities
Accounts payable	24,316	18,446
Related Party
Current liabilities
Accounts payable	$ 3,873	$ 5,306