CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents (including $1,210 and $13,566 associated with variable interest entity at September 30, 2024 and December 31, 2023, respectively)	$ 38,903	$ 23,076
Short-term investments (including $11,128 and $0 associated with variable interest entity at September 30, 2024 and December 31, 2023, respectively)	21,531	26,343
Accounts receivable, net of allowance for bad debt of $562 and $392 at September 30, 2024 and December 31, 2023, respectively	33,868	27,763
Inventories	70,918	71,528
Prepaid expenses and other current assets (including $58 and $82 associated with variable interest entity at September 30, 2024 and December 31, 2023, respectively)	4,869	6,219
Total current assets	170,089	154,929
Property and equipment, net (including $43,275 and $44,185 associated with variable interest entity at September 30, 2024 and December 31, 2023, respectively)	90,132	95,226
Deposits	282	1,047
Goodwill	3,510	3,510
Intangible assets, net	307	327
Operating right-of-use assets	41,391	20,739
Other non-current assets (including $42 and $53 associated with variable interest entity at September 30, 2024 and December 31, 2023, respectively)	1,092	619
Total assets	306,803	276,397
Current liabilities
Accrued expenses (including $366 and $591 associated with variable interest entity at September 30, 2024 and December 31, 2023, respectively)	12,751	10,576
Deferred revenue (including $0 and $116 associated with variable interest entity at September 30, 2024 and December 31, 2023)	909	951
Long-term debt, current portion (including $1,165 and $1,122 associated with variable interest entity at September 30, 2024 and December 31, 2023, respectively)	1,165	1,122
Operating lease liabilities, current portion	8,616	4,800
Other current liabilities (including $2,186 and $1,302 associated with variable interest entity at September 30, 2024 and December 31, 2023, respectively)	3,700	3,200
Total current liabilities	54,479	44,401
Deferred tax liability	4,197	4,197
Long-term debt, net of current portion and debt discount of $156 and $203 at September 30, 2024 and December 31, 2023, respectively (including $47,565 and $48,396 associated with variable interest entity at September 30, 2024 and December 31, 2023, respectively, and debt discount of $156 and $203 associated with variable interest entity at September 30, 2024 and December 31, 2023, respectively)	47,565	48,396
Operating lease liabilities, net of current portion	36,603	16,687
Other non-current liabilities (including $116 and $0 associated with variable interest entity at September 30, 2024 and December 31, 2023 respectively)	363	26
Total liabilities	143,207	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 September 30, 2024 and December 31, 2023	0	0
Common stock, $0.001 par value, $100,000,000 shares authorized, $20,044,105 and $20,021,105 shares issued and outstanding, respectively, as of September 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	88,823	86,667
Treasury stock, $0.001 par value, $23,000 shares as of both September 30, 2024 and December 31, 2023	(248)	(248)
Retained earnings	68,717	67,679
Total Karat Packaging Inc. stockholders’ equity	157,312	154,118
Noncontrolling interest	6,284	8,572
Total stockholders’ equity	163,596	162,690
Total liabilities and stockholders’ equity	306,803	276,397
Nonrelated Party
Current liabilities
Accounts payable	23,375	18,446
Related Party
Current liabilities
Accounts payable	$ 3,963	$ 5,306