XML 15 R4.htm IDEA: XBRL DOCUMENT v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Statement [Abstract]    
Net sales $ 116,947 $ 103,624
Cost of goods sold 75,421 62,862
Gross profit 41,526 40,762
Operating expenses    
Selling expenses 12,936 14,411
General and administrative expenses (including $641 and $677 associated with variable interest entity for the three months ended March 31, 2026 and 2025, respectively) 20,126 18,548
Gain on disposal of property and equipment 0 (17)
Total operating expenses 33,062 32,942
Operating income 8,464 7,820
Other income (expenses)    
Rental income (including $357 and $446 associated with variable interest entity for the three months ended March 31, 2026 and 2025, respectively) 698 776
Other income, net (including $76 and $0 associated with variable interest entity for the three months ended March 31, 2026 and 2025, respectively) 91 44
Gain on foreign currency transactions 252 239
Interest income (including $3 and $226 associated with variable interest entity for the three months ended March 31, 2026 and 2025, respectively) 286 566
Interest expense (including ($380) and ($500) associated with variable interest entity for the three months ended March 31, 2026 and 2025, respectively) (409) (509)
Total other income, net 918 1,116
Income before provision for income taxes 9,382 8,936
Provision for income taxes 2,241 2,121
Net income 7,141 6,815
Net income attributable to noncontrolling interest 400 406
Net income attributable to Karat Packaging Inc. $ 6,741 $ 6,409
Basic and diluted earnings per share:    
Basic (in dollars per share) $ 0.34 $ 0.32
Diluted (in dollars per share) $ 0.34 $ 0.32
Weighted average common shares outstanding, basic (in shares) 19,963,224 20,036,505
Weighted average common shares outstanding, diluted (in shares) 20,073,479 20,198,654