$KRT
Karat Packaging Inc. Stock $krt

$krt Overview Financials Valuation SEC Filings Company Website

2022 Q1 Form 10-Q Financial Statement

#000162828022014093 Filed on May 12, 2022

Income Statement

Concept	2022 Q1	2021 Q1
Revenue	$105.4M	$75.67M
YoY Change	39.3%
Cost Of Revenue	$71.12M	$54.05M
YoY Change	31.6%
Gross Profit	$34.29M	$21.63M
YoY Change	58.55%
Gross Profit Margin	32.53%	28.58%
Selling, General & Admin	$24.80M	$17.86M
YoY Change	38.89%
% of Gross Profit	72.32%	82.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$2.584M	$2.464M
YoY Change	4.87%
% of Gross Profit	7.54%	11.39%
Operating Expenses	$24.80M	$17.86M
YoY Change	38.89%
Operating Profit	$9.491M	$3.771M
YoY Change	151.68%
Interest Expense	$840.0K	$278.0K
YoY Change	202.16%
% of Operating Profit	8.85%	7.37%
Other Income/Expense, Net	$1.129M	$465.0K
YoY Change	142.8%
Pretax Income	$10.62M	$4.236M
YoY Change	150.71%
Income Tax	$2.700M	$1.200M
% Of Pretax Income	25.42%	28.33%
Net Earnings	$6.667M	$1.780M
YoY Change	274.55%	213.93%
Net Earnings / Revenue	6.32%	2.35%
Basic Earnings Per Share	$0.34	$0.12
Diluted Earnings Per Share	$0.34	$0.12
COMMON SHARES
Basic Shares Outstanding	19.81M shares	15.17M shares
Diluted Shares Outstanding	19.90M shares	15.40M shares

Balance Sheet

Concept	2022 Q1	2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$6.820M	$961.0K
YoY Change	609.68%
Cash & Equivalents	$6.800M	$961.0K
Short-Term Investments
Other Short-Term Assets	$6.036M	$3.422M
YoY Change	76.39%
Inventory	$77.34M	$46.07M
Prepaid Expenses
Receivables	$43.34M	$25.58M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$133.5M	$76.03M
YoY Change	75.63%
LONG-TERM ASSETS
Property, Plant & Equipment	$92.14M	$93.87M
YoY Change	-1.84%
Goodwill	$3.510M
YoY Change
Intangibles	$373.0K
YoY Change
Long-Term Investments
YoY Change
Other Assets	$389.0K	$3.068M
YoY Change	-87.32%
Total Long-Term Assets	$106.9M	$100.8M
YoY Change	5.96%
TOTAL ASSETS
Total Short-Term Assets	$133.5M	$76.03M
Total Long-Term Assets	$106.9M	$100.8M
Total Assets	$240.4M	$176.9M
YoY Change	35.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$24.07M	$17.19M
YoY Change	40.07%
Accrued Expenses	$8.343M	$5.510M
YoY Change	51.42%
Deferred Revenue	$1.448M
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$1.190M	$12.17M
YoY Change	-90.22%
Total Short-Term Liabilities	$39.83M	$39.55M
YoY Change	0.69%
LONG-TERM LIABILITIES
Long-Term Debt	$200.0K	$84.49M
YoY Change	-99.76%
Other Long-Term Liabilities	$2.524M	$3.726M
YoY Change	-32.26%
Total Long-Term Liabilities	$2.724M	$88.22M
YoY Change	-96.91%
TOTAL LIABILITIES
Total Short-Term Liabilities	$39.83M	$39.55M
Total Long-Term Liabilities	$2.724M	$88.22M
Total Liabilities	$100.1M	$142.7M
YoY Change	-29.82%
SHAREHOLDERS EQUITY
Retained Earnings	$46.10M
YoY Change
Common Stock	$20.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)	$248.0K
YoY Change
Treasury Stock Shares	23.00K shares
Shareholders Equity	$130.2M	$34.18M
YoY Change
Total Liabilities & Shareholders Equity	$240.4M	$176.9M
YoY Change	35.91%

Cashflow Statement

Concept	2022 Q1	2021 Q1
OPERATING ACTIVITIES
Net Income	$6.667M	$1.780M
YoY Change	274.55%	213.93%
Depreciation, Depletion And Amortization	$2.584M	$2.464M
YoY Change	4.87%
Cash From Operating Activities	-$11.43M	$4.504M
YoY Change	-353.71%
INVESTING ACTIVITIES
Capital Expenditures	$824.0K	$273.0K
YoY Change	201.83%
Acquisitions	$0.00	$900.0K
YoY Change	-100.0%
Other Investing Activities	-$3.971M	-$1.821M
YoY Change	118.07%
Cash From Investing Activities	-$4.795M	-$2.094M
YoY Change	128.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net	$267.0K	$1.888M
YoY Change	-85.86%
Cash From Financing Activities	$16.56M	-$1.897M
YoY Change	-972.9%
NET CHANGE
Cash From Operating Activities	-$11.43M	$4.504M
Cash From Investing Activities	-$4.795M	-$2.094M
Cash From Financing Activities	$16.56M	-$1.897M
Net Change In Cash	$337.0K	$513.0K
YoY Change	-34.31%
FREE CASH FLOW
Cash From Operating Activities	-$11.43M	$4.504M
Capital Expenditures	$824.0K	$273.0K
Free Cash Flow	-$12.25M	$4.231M
YoY Change	-389.55%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2022Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001758021
CY2022Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2022Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
CY2022Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2022Q1	dei	Amendment Flag AmendmentFlag	false
CY2022Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P0Y
CY2022Q1	dei	Document Type DocumentType	10-Q
CY2022Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2022Q1	dei	Document Period End Date DocumentPeriodEndDate	2022-03-31
CY2022Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2022Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	83-2237832
CY2022Q1	dei	Local Phone Number LocalPhoneNumber	965-8882
CY2022Q1	dei	Security12b Title Security12bTitle	Common Stock, $0.001 par value
CY2022Q1	dei	Trading Symbol TradingSymbol	KRT
CY2022Q1	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2022Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2022Q1	dei	Entity File Number EntityFileNumber	001-40336
CY2022Q1	dei	Entity Registrant Name EntityRegistrantName	Karat Packaging Inc.
CY2022Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	6185 Kimball Avenue
CY2022Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Chino
CY2022Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	CA
CY2022Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	91708
CY2022Q1	dei	City Area Code CityAreaCode	626
CY2022Q1	dei	Security Exchange Name SecurityExchangeName	NASDAQ
CY2022Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2022Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2022Q1	dei	Entity Small Business EntitySmallBusiness	true
CY2022Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2022Q1	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2022Q1	dei	Entity Shell Company EntityShellCompany	false
CY2022Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	19809424	shares
CY2022Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	6820000	USD
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	6483000	USD
CY2022Q1	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	800000	USD
CY2021Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	300000	USD
CY2022Q1	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	43337000	USD
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CY2022Q1	us-gaap	Accounts Payable And Other Accrued Liabilities Current AccountsPayableAndOtherAccruedLiabilitiesCurrent	1534000	USD
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CY2022Q1	us-gaap	Long Term Line Of Credit LongTermLineOfCredit	10200000	USD
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CY2022Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	5526000	USD
CY2021Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-2883000	USD
CY2022Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	530000	USD
CY2021Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	551000	USD
CY2022Q1	us-gaap	Increase Decrease In Due To Related Parties IncreaseDecreaseInDueToRelatedParties	-743000	USD
CY2021Q1	us-gaap	Increase Decrease In Due To Related Parties IncreaseDecreaseInDueToRelatedParties	-1618000	USD
CY2022Q1	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	1892000	USD
CY2021Q1	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	-41000	USD
CY2022Q1	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	233000	USD
CY2021Q1	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	84000	USD
CY2022Q1	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	1534000	USD
CY2021Q1	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	-160000	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-11427000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	4504000	USD
CY2022Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	824000	USD
CY2021Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	273000	USD
CY2022Q1	krt	Payments For Deposits For Property Plant And Equipment PaymentsForDepositsForPropertyPlantAndEquipment	3971000	USD
CY2021Q1	krt	Payments For Deposits For Property Plant And Equipment PaymentsForDepositsForPropertyPlantAndEquipment	921000	USD
CY2022Q1	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	0	USD
CY2021Q1	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	900000	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-4795000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-2094000	USD
CY2022Q1	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	10200000	USD
CY2021Q1	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	70000	USD
CY2022Q1	krt	Proceeds From Issuance Of Long Term Debt Excluding Proceeds From Long Term Line Of Credit ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit	6885000	USD
CY2021Q1	krt	Proceeds From Issuance Of Long Term Debt Excluding Proceeds From Long Term Line Of Credit ProceedsFromIssuanceOfLongTermDebtExcludingProceedsFromLongTermLineOfCredit	0	USD
CY2022Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	267000	USD
CY2021Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	1888000	USD
CY2022Q1	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	51000	USD
CY2021Q1	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	0	USD
CY2021Q1	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	79000	USD
CY2022Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	310000	USD
CY2021Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	0	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	16559000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-1897000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	337000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	513000	USD
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	6483000	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	448000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	6820000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	961000	USD
CY2022Q1	us-gaap	Property Plant And Equipment Transfers And Changes PropertyPlantAndEquipmentTransfersAndChanges	416000	USD
CY2021Q1	us-gaap	Property Plant And Equipment Transfers And Changes PropertyPlantAndEquipmentTransfersAndChanges	473000	USD
CY2022Q1	us-gaap	Use Of Estimates UseOfEstimates	<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Estimates and Assumptions: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management uses estimates and assumptions in preparing financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ materially from the estimates that were assumed in preparing the condensed consolidated financial statements. Estimates that are </span>significant to the condensed consolidated financial statements include stock-based compensation, allowance for doubtful accounts and reserve for slow-moving and obsolete inventory.
CY2022Q1	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1	segment
CY2022Q1	krt	Acquisition Price Included Within Deposits AcquisitionPriceIncludedWithinDeposits	0	USD
CY2021Q1	krt	Acquisition Price Included Within Deposits AcquisitionPriceIncludedWithinDeposits	100000	USD
CY2022Q1	us-gaap	Income Taxes Paid IncomeTaxesPaid	200000	USD
CY2021Q1	us-gaap	Income Taxes Paid IncomeTaxesPaid	0	USD
CY2022Q1	us-gaap	Interest Paid Net InterestPaidNet	440000	USD
CY2021Q1	us-gaap	Interest Paid Net InterestPaidNet	1088000	USD
CY2022Q1	us-gaap	Nature Of Operations NatureOfOperations	Nature of Operations<div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lollicup USA Inc. (“Lollicup”) was incorporated on January 21, 2001 under the laws of the State of California as an S-corporation. Effective January 1, 2018, Lollicup elected to convert from an S-Corporation to a C-Corporation. Karat Packaging Inc. (“Karat Packaging”) was incorporated on September 26, 2018 as a Delaware corporation and became the holding company for Lollicup (collectively, the “Company”) through a share exchange with the shareholders of Lollicup.</span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is a manufacturer and distributor of environmentally friendly, single-use disposable products used in a variety of restaurant and foodservice settings. The Company supplies a wide range of products for the foodservice industry, including food containers, tableware, cups, lids, cutlery, and straws. The products are available in plastic, paper, biopolymer-based and other compostable forms. In addition to manufacturing and distribution, the Company offers customized solutions to the customers, including new product development, design, printing, and logistics services, and distributes certain specialty food and beverages products, such as boba and coffee drinks. </span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company supplies products to smaller chains and businesses including boutique coffee houses, bubble tea cafes, pizza parlors and frozen yogurt shops, as well as to distributors and national and regional supermarkets, restaurants and convenience stores.</span></div>The Company currently operates manufacturing facilities and distribution and fulfillment centers in Chino, California; Rockwall, Texas and Kapolei, Hawaii. In addition, the Company operates four other distribution centers located in Branchburg, New Jersey; Summer, Washington; Summerville, South Carolina and Kapolei, Hawaii.
CY2022Q1	krt	Number Of Other Distribution Centers Operated By Entity NumberOfOtherDistributionCentersOperatedByEntity	4	distribution_center
CY2022Q1	us-gaap	Number Of Reporting Units NumberOfReportingUnits	1	reporting_unit
CY2022Q1	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	0	USD
CY2021Q4	us-gaap	Goodwill Goodwill	3510000	USD
CY2022Q1	us-gaap	Goodwill Acquired During Period GoodwillAcquiredDuringPeriod	0	USD
CY2022Q1	us-gaap	Goodwill Goodwill	3510000	USD
CY2022Q1	krt	Government Grants GovernmentGrants	1200000	USD
CY2022Q1	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	USD
CY2022Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	105413000	USD
CY2021Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	75673000	USD
CY2022Q1	us-gaap	Advertising Expense AdvertisingExpense	547000	USD
CY2021Q1	us-gaap	Advertising Expense AdvertisingExpense	388000	USD
CY2021Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	USD
CY2022Q1	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk:</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Cash is maintained at financial institutions and, at times, balances exceed federally insured limits. Management believes that the credit risk related to such deposits is minimal. </span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company extends credit based on the valuation of the customers’ financial condition and general collateral is not required. Management believes the Company is not exposed to any material credit risk on these accounts.</span></div>
CY2022Q1	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	133000	USD
CY2021Q1	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-165000	USD
CY2022Q1	us-gaap	Inventory Raw Materials InventoryRawMaterials	18215000	USD
CY2021Q4	us-gaap	Inventory Raw Materials InventoryRawMaterials	14075000	USD
CY2022Q1	us-gaap	Inventory Finished Goods InventoryFinishedGoods	60341000	USD
CY2021Q4	us-gaap	Inventory Finished Goods InventoryFinishedGoods	45140000	USD
CY2022Q1	us-gaap	Inventory Gross InventoryGross	78556000	USD
CY2021Q4	us-gaap	Inventory Gross InventoryGross	59215000	USD
CY2022Q1	us-gaap	Inventory Adjustments InventoryAdjustments	1219000	USD
CY2021Q4	us-gaap	Inventory Adjustments InventoryAdjustments	743000	USD
CY2022Q1	us-gaap	Inventory Net InventoryNet	77337000	USD
CY2021Q4	us-gaap	Inventory Net InventoryNet	58472000	USD
CY2022Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	134966000	USD
CY2021Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	133757000	USD
CY2022Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	42828000	USD
CY2021Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	40282000	USD
CY2022Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	92138000	USD
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	93475000	USD
CY2022Q1	us-gaap	Depreciation Depreciation	2577000	USD
CY2021Q1	us-gaap	Depreciation Depreciation	2464000	USD
CY2022Q1	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	2576000	USD
CY2021Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	1991000	USD
CY2022Q1	us-gaap	Interest Payable Current InterestPayableCurrent	101000	USD
CY2021Q4	us-gaap	Interest Payable Current InterestPayableCurrent	68000	USD
CY2022Q1	us-gaap	Accrued Payroll Taxes Current AccruedPayrollTaxesCurrent	1702000	USD
CY2021Q4	us-gaap	Accrued Payroll Taxes Current AccruedPayrollTaxesCurrent	1456000	USD
CY2022Q1	us-gaap	Accrued Vacation Current AccruedVacationCurrent	796000	USD
CY2021Q4	us-gaap	Accrued Vacation Current AccruedVacationCurrent	416000	USD
CY2022Q1	krt	Accrued Shipping Expenses Current AccruedShippingExpensesCurrent	2487000	USD
CY2021Q4	krt	Accrued Shipping Expenses Current AccruedShippingExpensesCurrent	2868000	USD
CY2022Q1	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	304000	USD
CY2021Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	642000	USD
CY2022Q1	us-gaap	Accrued Rent Current AccruedRentCurrent	377000	USD
CY2021Q4	us-gaap	Accrued Rent Current AccruedRentCurrent	372000	USD
CY2022Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	8343000	USD
CY2021Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	7813000	USD
CY2022Q1	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	43336000	USD
CY2021Q4	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	36717000	USD
CY2022Q1	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	192000	USD
CY2021Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	200000	USD
CY2022Q1	us-gaap	Long Term Debt Current LongTermDebtCurrent	1190000	USD
CY2021Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	1178000	USD
CY2022Q1	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	43336000	USD
CY2022Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice	18.86
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	460000	shares
CY2022Q1	krt	Long Term Debt Excluding Long Term Line Of Credit Noncurrent LongTermDebtExcludingLongTermLineOfCreditNoncurrent	41954000	USD
CY2021Q4	krt	Long Term Debt Excluding Long Term Line Of Credit Noncurrent LongTermDebtExcludingLongTermLineOfCreditNoncurrent	35339000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear	887000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	1224000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	1276000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	1333000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	19703000	USD
CY2022Q1	krt	Long Term Debt Maturity After Year Four LongTermDebtMaturityAfterYearFour	18913000	USD
CY2019Q1	us-gaap	Common Stock Capital Shares Reserved For Future Issuance CommonStockCapitalSharesReservedForFutureIssuance	2000000	shares
CY2019Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized	2000000	shares
CY2022Q1	us-gaap	Common Stock Capital Shares Reserved For Future Issuance CommonStockCapitalSharesReservedForFutureIssuance	1275250	shares
CY2022Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	600000	USD
CY2021Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	0	USD
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	435000	shares
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	18.76
CY2021	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	0	USD
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	50000	shares
CY2022Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	16.53
CY2022Q1	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	5000	shares
CY2022Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	10.00
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	20000	shares
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	18.61
CY2022Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P9Y7M6D
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	571900	USD
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber	460000	shares
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice	18.61
CY2022Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1	P9Y7M6D
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue	571900	USD
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	0	shares
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	0
CY2022Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	0	USD
CY2022Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	16.53
CY2022Q1	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions	1866270	USD
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.0170
CY2022Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P6Y3M
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	0.30
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0.0040
CY2022Q1	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions	1000000	USD
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	6667000	USD
CY2021Q1	us-gaap	Net Income Loss NetIncomeLoss	1780000	USD
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	19808000	shares
CY2021Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	15167000	shares
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.34
CY2021Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.12
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	6667000	USD
CY2021Q1	us-gaap	Net Income Loss NetIncomeLoss	1780000	USD
CY2021Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	15167000	shares
CY2022Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	93000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	19808000	shares
CY2021Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	236000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	19901000	shares
CY2021Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	15403000	shares
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.34
CY2021Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.12
CY2022Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	474000	shares
CY2021Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	236000	shares
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	2304000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	3060000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	1824000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	380000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	374000	USD
CY2022Q1	krt	Lessee Operating Lease Liability To Be Paid After Year Four LesseeOperatingLeaseLiabilityToBePaidAfterYearFour	1630000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	9572000	USD
CY2022Q1	us-gaap	Operating Leases Income Statement Lease Revenue OperatingLeasesIncomeStatementLeaseRevenue	238000	USD
CY2021Q1	us-gaap	Operating Leases Income Statement Lease Revenue OperatingLeasesIncomeStatementLeaseRevenue	246000	USD
CY2022Q1	us-gaap	Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear	538000	USD
CY2022Q1	us-gaap	Operating Leases Future Minimum Payments Receivable In Two Years OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears	611000	USD
CY2022Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	2700000	USD
CY2021Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1200000	USD
CY2022Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.252
CY2021Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.280
CY2022Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	6800000	USD
CY2022Q1	krt	Working Capital WorkingCapital	93700000	USD

Files In Submission

Name	View Source	Status
0001628280-22-014093-index-headers.html	Edgar Link	pending
0001628280-22-014093-index.html	Edgar Link	pending
0001628280-22-014093.txt	Edgar Link	pending
0001628280-22-014093-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
krt-20220331.htm	Edgar Link	pending
krt-20220331.xsd	Edgar Link	pending
krt-20220331_cal.xml	Edgar Link	unprocessable
krt-20220331_def.xml	Edgar Link	unprocessable
krt-20220331_htm.xml	Edgar Link	completed
krt-20220331_lab.xml	Edgar Link	unprocessable
krt-20220331_pre.xml	Edgar Link	unprocessable
krt2022033110qex311.htm	Edgar Link	pending
krt2022033110qex312.htm	Edgar Link	pending
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krt2022033110qex322.htm	Edgar Link	pending
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report.css	Edgar Link	pending
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2022 Q1 Form 10-Q Financial Statement

#000162828022014093 Filed on May 12, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$KRT Karat Packaging Inc. Stock $krt

2022 Q1 Form 10-Q Financial Statement

#000162828022014093 Filed on May 12, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$KRT
Karat Packaging Inc. Stock $krt