Karat Packaging Inc
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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FY2023 · Filed Mar 15, 2024
KRT$36.51+8.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents (including $13,566 and $2,022 associated with variable interest entity at December 31, 2023 and 2022, respectively) | $23,076 | $16,041 |
| Short-term investments | 26,343 | — |
| Accounts receivable, net of allowance for bad debt of $392 and $1,260 at December 31, 2023 and 2022, respectively (including $0 and $6 associated with variable interest entity at December 31, 2023 and 2022, respectively) | 27,763 | 29,912 |
| Inventories | 71,528 | 71,206 |
| Prepaid expenses and other current assets (including $82 and $191 associated with variable interest entity at December 31, 2023 and 2022, respectively) | 6,219 | 6,641 |
| Total current assets | 154,929 | 123,800 |
| Property and equipment, net (including $44,185 and $45,399 associated with variable interest entity at December 31, 2023 and 2022, respectively) | 95,226 | 95,568 |
| Deposits | 1,047 | 12,413 |
| Goodwill | 3,510 | 3,510 |
| Intangible assets, net | 327 | 353 |
| Operating right-of-use assets | 20,739 | 15,713 |
| Other assets (including $53 and $38 associated with variable interest entity at December 31, 2023 and 2022, respectively) | 619 | 818 |
| Total assets | $276,397 | $252,175 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities | ||
| Accounts payable (including $63 and $2 associated with variable interest entity at December 31, 2023 and 2022, respectively) | $18,446 | $18,559 |
| Accrued expenses (including $591 and $625 associated with variable interest entity at December 31, 2023 and 2022, respectively) | 10,576 | 9,005 |
| Related party payable | 5,306 | 4,940 |
| Customer deposits (including $116 and $165 associated with variable interest entity at December 31, 2023 and 2022, respectively) | 951 | 1,281 |
| Long-term debt, current portion (including $1,122 and $957 associated with variable interest entity at December 31, 2023 and 2022, respectively) | 1,122 | 957 |
| Operating lease liabilities, current portion | 4,800 | 4,511 |
| Other payables (including $1,302 and $0 associated with variable interest entity at December 31, 2023 and 2022, respectively) | 3,200 | — |
| Total current liabilities | 44,401 | 39,253 |
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| Deferred tax liability | 4,197 | 5,156 |
| Long-term debt, net of current portion and debt discount of $203 and $216 at December 31, 2023 and December 31, 2022, respectively (including $48,396 and $41,558 associated with variable interest entity at December 31, 2023 and 2022, respectively, and debt discount of $203 and $216 associated with variable interest entity at December 31, 2023 and 2022, respectively) | 48,396 | 41,558 |
| Operating lease liabilities, net of current portion | 16,687 | 11,623 |
| Other liabilities (including $0 and $1,302 associated with variable interest entity at December 31, 2023 and 2022, respectively) | 26 | 2,652 |
| Total liabilities | 113,707 | 100,242 |
| Commitments and Contingencies (Note 20) | ||
| 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, 2023 and 2022 | — | — |
| Common stock, $0.001 par value, 100,000,000 shares authorized, 19,988,482 and 19,965,482 shares issued and outstanding, respectively, as of December 31, 2023 and 19,908,005 and 19,885,005 shares issued and outstanding, respectively, as of December 31, 2022 | 20 | 20 |
| Additional paid in capital | 86,667 | 85,792 |
| Treasury stock, $0.001 par value, 23,000 shares as of both December 31, 2023 and 2022 | (248) | (248) |
| Retained earnings | 67,679 | 56,118 |
| Total Karat Packaging Inc. stockholders’ equity | 154,118 | 141,682 |
| Noncontrolling interest | 8,572 | 10,251 |
| Total stockholders’ equity | 162,690 | 151,933 |
| Total liabilities and stockholders’ equity | $276,397 | $252,175 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.