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CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Total Stockholders’ Equity Attributable to Karat Packaging Inc.
Common Stock
Treasury Stock
Additional Paid-in Capital
Retained Earnings
Noncontrolling Interest
Balance at the beginning of period (in shares) at Dec. 31, 2022     19,908,005        
Balance at the beginning of period at Dec. 31, 2022 $ 151,933 $ 141,682 $ 20 $ (248) $ 85,792 $ 56,118 $ 10,251
Treasury stock, balance at the beginning of period (in shares) at Dec. 31, 2022       (23,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock upon vesting of restricted stock units, net shares withheld to cover taxes (in shares)     2,452        
Issuance of common stock upon vesting of restricted stock units, net shares withheld to cover taxes (14) (14)     (14)    
Stock-based compensation 277 277     277    
Net income 9,186 9,005       9,005 181
Balance at the end of period (in shares) at Mar. 31, 2023     19,910,457        
Balance at the end of period at Mar. 31, 2023 161,382 150,950 $ 20 $ (248) 86,055 65,123 10,432
Treasury stock, balance at the end of period (in shares) at Mar. 31, 2023       (23,000)      
Balance at the beginning of period (in shares) at Dec. 31, 2022     19,908,005        
Balance at the beginning of period at Dec. 31, 2022 151,933 141,682 $ 20 $ (248) 85,792 56,118 10,251
Treasury stock, balance at the beginning of period (in shares) at Dec. 31, 2022       (23,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 29,003            
Balance at the end of period (in shares) at Sep. 30, 2023     19,916,839        
Balance at the end of period at Sep. 30, 2023 164,753 154,165 $ 20 $ (248) 86,620 67,773 10,588
Treasury stock, balance at the end of period (in shares) at Sep. 30, 2023       (23,000)      
Balance at the beginning of period (in shares) at Mar. 31, 2023     19,910,457        
Balance at the beginning of period at Mar. 31, 2023 161,382 150,950 $ 20 $ (248) 86,055 65,123 10,432
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Cash Dividend 6,965 6,965       6,965  
Treasury stock, balance at the beginning of period (in shares) at Mar. 31, 2023       (23,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock upon vesting of restricted stock units, net shares withheld to cover taxes (in shares)     582        
Issuance of common stock upon vesting of restricted stock units, net shares withheld to cover taxes (4) (4)     (4)    
Stock-based compensation 216 216     216    
Net income 10,677 10,502       10,502 175
Balance at the end of period (in shares) at Jun. 30, 2023     19,911,039        
Balance at the end of period at Jun. 30, 2023 165,306 154,699 $ 20 $ (248) 86,267 68,660 10,607
Treasury stock, balance at the end of period (in shares) at Jun. 30, 2023       (23,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Cash Dividend 9,952 9,952       9,952  
Stock-based compensation 250 250     250    
Exercise of stock options (in shares)     5,800        
Exercise of stock options 103 103     103    
Noncontrolling interest tax withholding (94)           (94)
Net income 9,140 9,065       9,065 75
Balance at the end of period (in shares) at Sep. 30, 2023     19,916,839        
Balance at the end of period at Sep. 30, 2023 $ 164,753 154,165 $ 20 $ (248) 86,620 67,773 10,588
Treasury stock, balance at the end of period (in shares) at Sep. 30, 2023       (23,000)      
Balance at the beginning of period (in shares) at Dec. 31, 2023 19,965,482   19,988,482        
Balance at the beginning of period at Dec. 31, 2023 $ 162,690 154,118 $ 20 $ (248) 86,667 67,679 8,572
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Cash Dividend $ 5,992 5,992       5,992  
Treasury stock, balance at the beginning of period (in shares) at Dec. 31, 2023 (23,000)     (23,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock upon vesting of restricted stock units, net shares withheld to cover taxes (in shares)     3,750        
Stock-based compensation $ 375 375     375    
Exercise of stock options (in shares)     2,800        
Exercise of stock options 52 52     52    
Global Wells noncontrolling membership interest redemption (3,209) (316)       (316) (2,893)
Net income 6,476 6,166       6,166 310
Balance at the end of period (in shares) at Mar. 31, 2024     19,995,032        
Balance at the end of period at Mar. 31, 2024 $ 160,392 154,403 $ 20 $ (248) 87,094 67,537 5,989
Treasury stock, balance at the end of period (in shares) at Mar. 31, 2024       (23,000)      
Balance at the beginning of period (in shares) at Dec. 31, 2023 19,965,482   19,988,482        
Balance at the beginning of period at Dec. 31, 2023 $ 162,690 154,118 $ 20 $ (248) 86,667 67,679 8,572
Treasury stock, balance at the beginning of period (in shares) at Dec. 31, 2023 (23,000)     (23,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Exercise of stock options (in shares) 24,073            
Net income $ 24,965            
Balance at the end of period (in shares) at Sep. 30, 2024 20,021,105   20,044,105        
Balance at the end of period at Sep. 30, 2024 $ 163,596 157,312 $ 20 $ (248) 88,823 68,717 6,284
Treasury stock, balance at the end of period (in shares) at Sep. 30, 2024 (23,000)     (23,000)      
Balance at the beginning of period (in shares) at Mar. 31, 2024     19,995,032        
Balance at the beginning of period at Mar. 31, 2024 $ 160,392 154,403 $ 20 $ (248) 87,094 67,537 5,989
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Cash Dividend 7,004 7,004       7,004  
Treasury stock, balance at the beginning of period (in shares) at Mar. 31, 2024       (23,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock upon vesting of restricted stock units, net shares withheld to cover taxes (in shares)     27,800        
Stock-based compensation 940 940     940    
Exercise of stock options (in shares)     14,833        
Exercise of stock options 273 273     273    
Net income 9,227 9,100       9,100 127
Balance at the end of period (in shares) at Jun. 30, 2024     20,037,665        
Balance at the end of period at Jun. 30, 2024 163,828 157,712 $ 20 $ (248) 88,307 69,633 6,116
Treasury stock, balance at the end of period (in shares) at Jun. 30, 2024       (23,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Cash Dividend 10,010 10,010       10,010  
Stock-based compensation 400 400     400    
Exercise of stock options (in shares)     6,440        
Exercise of stock options 116 116     116    
Net income $ 9,262 9,094       9,094 168
Balance at the end of period (in shares) at Sep. 30, 2024 20,021,105   20,044,105        
Balance at the end of period at Sep. 30, 2024 $ 163,596 $ 157,312 $ 20 $ (248) $ 88,823 $ 68,717 $ 6,284
Treasury stock, balance at the end of period (in shares) at Sep. 30, 2024 (23,000)     (23,000)