Karat Packaging Inc.
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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FY2024 · Filed Mar 14, 2025
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, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents (including $1,703 and $13,566 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively) | $31,584 | $23,076 |
| Short-term investments (including $11,128 and $0 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively) | 28,343 | 26,343 |
| Accounts receivable, net of allowance for bad debt of $758 and $392 at December 31, 2024 and December 31, 2023, respectively | 26,736 | 27,763 |
| Inventories | 70,722 | 71,528 |
| Prepaid expenses and other current assets (including $27 and $82 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively) | 3,612 | 6,219 |
| Total current assets | 160,997 | 154,929 |
| Property and equipment, net (including $42,972 and $44,185 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively) | 87,982 | 95,226 |
| Deposits | 36 | 1,047 |
| Goodwill | 3,510 | 3,510 |
| Intangible assets, net | 300 | 327 |
| Operating right-of-use assets | 40,628 | 20,739 |
| Other non-current assets (including $34 and $53 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively) | 1,069 | 619 |
| Total assets | $294,522 | $276,397 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities | ||
| Accounts payable (including $16 and $63 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively) | $17,831 | $18,446 |
| Accrued expenses (including $489 and $591 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively) | 13,555 | 10,576 |
| Related party payable | 3,130 | 5,306 |
| Income taxes payable (including $3 and $0 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively) | 65 | — |
| Deferred revenue (including $0 and $116 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively) | 742 | 951 |
| Long-term debt, current portion (including $1,179 and $1,122 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively) | 1,179 | 1,122 |
| Operating lease liabilities, current portion | 8,977 | 4,800 |
| Other current liabilities (including $916 and $1,302 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively) | 968 | 3,200 |
| Total current liabilities | 46,447 | 44,401 |
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| Deferred tax liability | 426 | 4,197 |
| Long-term debt, net of current portion and debt discount of $141 and $203 at December 31, 2024 and December 31, 2023, respectively (including $47,279 and $48,396 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively, and debt discount of $141 and $203 associated with variable interest entity at December 31, 2024 and December 31, 2023, respectively) | 47,279 | 48,396 |
| Operating lease liabilities, net of current portion | 35,435 | 16,687 |
| Other non-current liabilities (including $1,198 and $0 associated with variable interest entity at December 31, 2024 and December 31, 2023 respectively) | 2,736 | 26 |
| Total liabilities | 132,323 | 113,707 |
| Commitments and Contingencies (Note 19) | ||
| 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, 2024 and December 31, 2023 | — | — |
| Common stock, $0.001 par value, 100,000,000 shares authorized, 20,059,505 and 20,036,505 shares issued and outstanding, respectively, as of December 31, 2024 and 19,988,482 and 19,965,482 shares issued and outstanding, respectively, as of December 31, 2023 | 20 | 20 |
| Additional paid in capital | 89,457 | 86,667 |
| Treasury stock, $0.001 par value, 23,000 shares as of both December 31, 2024 and December 31, 2023 | (248) | (248) |
| Retained earnings | 66,340 | 67,679 |
| Total Karat Packaging Inc. stockholders’ equity | 155,569 | 154,118 |
| Noncontrolling interest | 6,630 | 8,572 |
| Total stockholders’ equity | 162,199 | 162,690 |
| Total liabilities and stockholders’ equity | $294,522 | $276,397 |
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