CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents (including $1,703 and $13,566 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively)	$ 31,584	$ 23,076
Short-term investments (including $11,128 and $0 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively)	28,343	26,343
Accounts receivable, net of allowance for bad debt of $758 and $392 at December 31, 2024 and December 31, 2023, respectively	26,736	27,763
Inventories	70,722	71,528
Prepaid expenses and other current assets (including $27 and $82 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively)	3,612	6,219
Total current assets	160,997	154,929
Property and equipment, net (including $42,972 and $44,185 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively)	87,982	95,226
Deposits	36	1,047
Goodwill	3,510	3,510
Intangible assets, net	300	327
Operating right-of-use assets	40,628	20,739
Other non-current assets (including $34 and $53 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively)	1,069	619
Total assets	294,522	276,397
Current liabilities
Accrued expenses (including $489 and $591 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively)	13,555	10,576
Income taxes payable (including $3 and $0 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively)	65	0
Deferred revenue (including $0 and $116 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively)	742	951
Long-term debt, current portion (including $1,179 and $1,122 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively)	1,179	1,122
Operating lease liabilities, current portion	8,977	4,800
Other current liabilities (including $916 and $1,302 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively)	968	3,200
Total current liabilities	46,447	44,401
Deferred tax liability	426	4,197
Long-term debt, net of current portion and debt discount of $141 and $203 at December 31, 2024 and December 31, 2023, respectively (including $47,279 and $48,396 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively, and debt discount of $141 and $203 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively)	47,279	48,396
Operating lease liabilities, net of current portion	35,435	16,687
Other non-current liabilities (including $1,198 and $0 associated with variable interest entity at December 31, 2024 and December 31, 2023 respectively)	2,736	26
Total liabilities	132,323	113,707
Commitments and Contingencies (Note 19)
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, 2024 and December 31, 2023	0	0
Common stock, $0.001 par value, 100,000,000 shares authorized, 20,059,505 and 20,036,505 shares issued and outstanding, respectively, as of December 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	89,457	86,667
Treasury stock, $0.001 par value, 23,000 shares as of both December 31, 2024 and December 31, 2023	(248)	(248)
Retained earnings	66,340	67,679
Total Karat Packaging Inc. stockholders’ equity	155,569	154,118
Noncontrolling interest	6,630	8,572
Total stockholders’ equity	162,199	162,690
Total liabilities and stockholders’ equity	294,522	276,397
Nonrelated Party
Current liabilities
Accounts payable (including $16 and $63 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively)	17,831	18,446
Related Party
Current liabilities
Accounts payable (including $16 and $63 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively)	$ 3,130	$ 5,306