2023 Q3 Form 10-Q Financial Statement

#000162828023028595 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $105.5M $108.7M
YoY Change -4.06% -5.35%
Cost Of Revenue $66.58M $66.88M
YoY Change -12.19% -17.35%
Gross Profit $38.94M $41.86M
YoY Change 13.98% 23.25%
Gross Profit Margin 36.9% 38.5%
Selling, General & Admin $27.87M $26.06M
YoY Change 6.15% -0.38%
% of Gross Profit 71.57% 62.26%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.701M $2.711M
YoY Change 4.0% 5.98%
% of Gross Profit 6.94% 6.48%
Operating Expenses $27.56M $28.52M
YoY Change 4.97% 9.02%
Operating Profit $11.38M $13.34M
YoY Change 43.87% 70.97%
Interest Expense $536.0K $573.0K
YoY Change -208.72% 141.77%
% of Operating Profit 4.71% 4.3%
Other Income/Expense, Net $664.0K $661.0K
YoY Change 364.34% -42.22%
Pretax Income $12.04M $14.00M
YoY Change 49.56% 56.49%
Income Tax $2.904M $3.323M
% Of Pretax Income 24.11% 23.74%
Net Earnings $9.065M $10.50M
YoY Change 48.7% 65.54%
Net Earnings / Revenue 8.59% 9.66%
Basic Earnings Per Share $0.46 $0.53
Diluted Earnings Per Share $0.45 $0.53
COMMON SHARES
Basic Shares Outstanding 19.89M shares 19.89M shares
Diluted Shares Outstanding 20.00M shares 19.95M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.20M $46.26M
YoY Change 513.46% 1221.25%
Cash & Equivalents $28.16M $18.26M
Short-Term Investments $18.10M $28.00M
Other Short-Term Assets $6.800M $5.631M
YoY Change -6.31% -15.84%
Inventory $71.66M $76.30M
Prepaid Expenses
Receivables $33.98M $32.82M
Other Receivables $0.00 $0.00
Total Short-Term Assets $158.7M $161.0M
YoY Change 27.15% 20.02%
LONG-TERM ASSETS
Property, Plant & Equipment $96.69M $95.71M
YoY Change 2.48% 0.7%
Goodwill $3.510M $3.510M
YoY Change 0.0% 0.0%
Intangibles $333.0K $340.0K
YoY Change -7.5% -7.36%
Long-Term Investments
YoY Change
Other Assets $2.002M $1.970M
YoY Change 142.08% 134.52%
Total Long-Term Assets $121.3M $125.9M
YoY Change 5.78% 11.39%
TOTAL ASSETS
Total Short-Term Assets $158.7M $161.0M
Total Long-Term Assets $121.3M $125.9M
Total Assets $280.0M $286.9M
YoY Change 16.91% 16.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.40M $23.38M
YoY Change 2.49% 0.25%
Accrued Expenses $8.858M $7.946M
YoY Change 4.59% 0.93%
Deferred Revenue $803.0K $979.0K
YoY Change -32.29% -39.53%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.111M $971.0K
YoY Change 17.19% 6.7%
Total Short-Term Liabilities $45.70M $50.72M
YoY Change 31.21% 35.57%
LONG-TERM LIABILITIES
Long-Term Debt $219.0K $190.0K
YoY Change -4.37% -20.5%
Other Long-Term Liabilities $2.824M $2.824M
YoY Change -9.69% -5.99%
Total Long-Term Liabilities $3.043M $3.014M
YoY Change -9.33% -7.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.70M $50.72M
Total Long-Term Liabilities $3.043M $3.014M
Total Liabilities $115.2M $121.6M
YoY Change 34.94% 22.03%
SHAREHOLDERS EQUITY
Retained Earnings $67.77M $68.66M
YoY Change 15.77% 30.92%
Common Stock $20.00K $20.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $154.2M $154.7M
YoY Change
Total Liabilities & Shareholders Equity $280.0M $286.9M
YoY Change 16.91% 16.08%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $9.065M $10.50M
YoY Change 48.7% 65.54%
Depreciation, Depletion And Amortization $2.701M $2.711M
YoY Change 4.0% 5.98%
Cash From Operating Activities $12.04M $16.87M
YoY Change -40.53% 358.25%
INVESTING ACTIVITIES
Capital Expenditures $1.050M $774.0K
YoY Change -367.86% -197.85%
Acquisitions
YoY Change
Other Investing Activities $9.030M -$13.86M
YoY Change -335.52% 104.85%
Cash From Investing Activities $7.980M -$14.63M
YoY Change -288.83% 93.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.11M -7.204M
YoY Change -15.67% -1395.68%
NET CHANGE
Cash From Operating Activities 12.04M 16.87M
Cash From Investing Activities 7.980M -14.63M
Cash From Financing Activities -10.11M -7.204M
Net Change In Cash 9.910M -4.968M
YoY Change 145.91% 49.68%
FREE CASH FLOW
Cash From Operating Activities $12.04M $16.87M
Capital Expenditures $1.050M $774.0K
Free Cash Flow $10.99M $16.09M
YoY Change -46.75% 259.88%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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CY2023Q2 us-gaap Preferred Stock Shares Issued
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CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2023Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Profit Loss
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
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us-gaap Inventory Write Down
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us-gaap Inventory Write Down
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krt Write Off Of Inventory
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krt Write Off Of Inventory
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krt Impairment Of Deposits
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krt Impairment Of Deposits
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Derivative Gain Loss On Derivative Net
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us-gaap Derivative Gain Loss On Derivative Net
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us-gaap Amortization Of Deferred Loan Origination Fees Net
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us-gaap Amortization Of Deferred Loan Origination Fees Net
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Due To Related Parties
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us-gaap Increase Decrease In Due To Related Parties
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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krt Payments For Costs Incurred From Sale Of Machinery And Equipment
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krt Payments For Costs Incurred From Sale Of Machinery And Equipment
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krt Proceeds From Deposits Refunded From Joint Venture Investment
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krt Deposit Refund From Cancelled Property And Equipment Purchase
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krt Deposit Refund From Cancelled Property And Equipment Purchase
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Lines Of Credit
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us-gaap Repayments Of Lines Of Credit
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krt Proceeds From Issuance Of Long Term Debt Excluding Proceeds From Long Term Line Of Credit
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us-gaap Income Taxes Paid Net
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us-gaap Number Of Reportable Segments
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us-gaap Nature Of Operations
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Nature of Operations <div style="margin-top:12pt;text-align:justify;text-indent:18pt"><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:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company is a manufacturer and distributor of single-use disposable products used in a variety of restaurant and foodservice settings. The Company supplies a wide range of products such as 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 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:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company supplies products to national and regional distributors, supermarkets, restaurants, and convenience stores as well as to smaller chains and businesses including boutique coffee houses, bubble tea cafes, pizza parlors and frozen yogurt shops.</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 five other distribution centers located in Branchburg, New Jersey; Sumner, Washington; Summerville, South Carolina; Kapolei, Hawaii and City of Industry, California.
krt Number Of Other Distribution Centers Operated By Entity
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us-gaap Use Of Estimates
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<span style="background-color:#ffffff;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="background-color:#ffffff;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 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 significant to the condensed consolidated financial statements include stock-based compensation, allowance for doubtful accounts and reserve for slow-moving and obsolete inventory.</span>
us-gaap Goodwill Acquired During Period
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us-gaap Depreciation
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CY2023Q2 us-gaap Long Term Debt Current
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CY2023Q2 krt Long Term Debt Excluding Long Term Line Of Credit Noncurrent
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CY2022Q4 krt Long Term Debt Excluding Long Term Line Of Credit Noncurrent
LongTermDebtExcludingLongTermLineOfCreditNoncurrent
41558000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
534000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1122000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1179000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
20798000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
26622000 usd
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
50255000 usd
CY2019Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
2000000 shares
CY2023Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1330683 shares
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
216000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
565000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
493000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1176000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
420000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.6
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y9M18D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
6666 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
18.9
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
413334 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.6
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M18D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
413334 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
18.6
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y3M18D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
140000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
18.6
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y3M18D
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
444000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
128000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
10502000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
6344000 usd
us-gaap Net Income Loss
NetIncomeLoss
19507000 usd
us-gaap Net Income Loss
NetIncomeLoss
13011000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19887000 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19809000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19887000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19809000 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.53
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.98
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.66
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
10502000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
6344000 usd
us-gaap Net Income Loss
NetIncomeLoss
19507000 usd
us-gaap Net Income Loss
NetIncomeLoss
13011000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19887000 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19809000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19887000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19809000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
67000 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
118000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
60000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
105000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19954000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19927000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19947000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19914000 shares
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.98
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.65
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
420000 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
447000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
427000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
460000 shares
us-gaap Operating Lease Cost
OperatingLeaseCost
2848000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
37000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
490000 usd
us-gaap Lease Cost
LeaseCost
3375000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M18D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.057
us-gaap Operating Lease Payments
OperatingLeasePayments
2740000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2933000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5254000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3928000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4044000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2711000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
2885000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
21755000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2854000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
18901000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
229000 usd
CY2023Q2 krt Loss On Disposal Of Machinery In Scaling Back Manufacturing
LossOnDisposalOfMachineryInScalingBackManufacturing
1922000 usd
CY2022Q2 krt Loss On Disposal Of Machinery In Scaling Back Manufacturing
LossOnDisposalOfMachineryInScalingBackManufacturing
0 usd
krt Loss On Disposal Of Machinery In Scaling Back Manufacturing
LossOnDisposalOfMachineryInScalingBackManufacturing
1922000 usd
krt Loss On Disposal Of Machinery In Scaling Back Manufacturing
LossOnDisposalOfMachineryInScalingBackManufacturing
0 usd
CY2023Q2 krt Loss Gain On Disposal Of Fixed Assets Within Normal Course Of Business
LossGainOnDisposalOfFixedAssetsWithinNormalCourseOfBusiness
14000 usd
CY2022Q2 krt Loss Gain On Disposal Of Fixed Assets Within Normal Course Of Business
LossGainOnDisposalOfFixedAssetsWithinNormalCourseOfBusiness
-21000 usd
krt Loss Gain On Disposal Of Fixed Assets Within Normal Course Of Business
LossGainOnDisposalOfFixedAssetsWithinNormalCourseOfBusiness
96000 usd
krt Loss Gain On Disposal Of Fixed Assets Within Normal Course Of Business
LossGainOnDisposalOfFixedAssetsWithinNormalCourseOfBusiness
-17000 usd
CY2023Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-1936000 usd
CY2022Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
21000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-2018000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
17000 usd
CY2023Q2 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-523000 usd
CY2022Q2 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
0 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-523000 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
0 usd
CY2023Q2 krt Impairment Expense And Loss Gain On Disposal Of Machinery
ImpairmentExpenseAndLossGainOnDisposalOfMachinery
2459000 usd
CY2022Q2 krt Impairment Expense And Loss Gain On Disposal Of Machinery
ImpairmentExpenseAndLossGainOnDisposalOfMachinery
-21000 usd
krt Impairment Expense And Loss Gain On Disposal Of Machinery
ImpairmentExpenseAndLossGainOnDisposalOfMachinery
2541000 usd
krt Impairment Expense And Loss Gain On Disposal Of Machinery
ImpairmentExpenseAndLossGainOnDisposalOfMachinery
-17000 usd
CY2018Q3 krt Number Of Exercised Convertible Notes
NumberOfExercisedConvertibleNotes
2 convertible_note
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3323000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1746000 usd
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.237
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.195
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6141000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4423000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.236
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.226
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 usd
CY2023Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd

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