XML 18 R4.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Statement [Abstract]    
Net sales $ 103,624 $ 95,613
Cost of goods sold 62,862 58,011
Gross profit 40,762 37,602
Operating expenses    
Selling expenses 14,411 10,763
General and administrative expenses (including $677 and $556 associated with variable interest entity for the three months ended March 31, 2025 and 2024, respectively) 18,548 16,769
Impairment expense and (gain) loss, net, on disposal of property and equipment (17) 1,994
Total operating expenses 32,942 29,526
Operating income 7,820 8,076
Other income (expenses)    
Rental income (including $446 and $255 associated with variable interest entity for the three months ended March 31, 2025 and 2024, respectively) 776 291
Other income, net 44 55
Gain on foreign currency transactions 239 122
Interest income (including $226 and $213 associated with variable interest entity for the three months ended March 31, 2025 and 2024, respectively) 566 431
Interest expense (including $500 and $517 associated with variable interest entity for the three months ended March 31, 2025 and 2024, respectively) (509) (524)
Total other income, net 1,116 375
Income before provision for income taxes 8,936 8,451
Provision for income taxes 2,121 1,975
Net income 6,815 6,476
Net income attributable to noncontrolling interest 406 310
Net income attributable to Karat Packaging Inc. $ 6,409 $ 6,166
Basic and diluted earnings per share:    
Basic (in dollars per share) $ 0.32 $ 0.31
Diluted (in dollars per share) $ 0.32 $ 0.31
Weighted average common shares outstanding, basic (in shares) 20,036,505 19,969,606
Weighted average common shares outstanding, diluted (in shares) 20,198,654 20,075,485