Karat Packaging Inc. (KRT)

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Karat Packaging Inc.

KRT • CIK 0001758021

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Revenue from Contract with Customer, Excluding Assessed Tax	$405,651	$422,633	$467,743	$493,382
Cost of Goods and Services Sold	$252,608	$258,304	$295,607	$292,429
Gross Profit	$153,043	$164,329	$172,136	$200,953
Income Tax Expense (Benefit)	$9,804	$9,871	$10,358	$16,396
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$33,180	$30,824	$32,664	$51,587
Net Income (Loss) Attributable to Noncontrolling Interest	$710	$849	$1,186	$1,380
Net Income (Loss) Attributable to Parent	$32,470	$29,975	$31,478	$50,207
Weighted Average Number of Shares Outstanding, Basic	19,904,698	20,002,211	20,057,549	19,966,030
Weighted Average Number of Shares Outstanding, Diluted	19,977,712	20,124,284	20,180,070	20,075,353
Selling Expense	$41,490	$52,286	$53,844	$56,197
General and Administrative Expense	$66,952	$71,530	$77,371	$81,779
Operating Expenses	$110,967	$126,568	$130,722	$137,843
Operating Income (Loss)	$42,076	$37,761	$41,414	$63,110
Rental Income, Nonoperating	$1,090	$2,076	$2,923	$2,806
Other Income	—	—	$73	$255
Foreign Currency Transaction Gain (Loss), before Tax	$103	$520	$-1,543	$1,256
Investment Income, Interest	$1,803	$2,299	$2,210	$2,415
InterestExpenseNonoperating	—	$2,123	$2,055	$1,859
Nonoperating Income (Expense)	$908	$2,934	$1,608	$4,873
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$42,984	$40,695	$43,022	$67,983
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	213,599	4,803	161	9,494
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	73,000	122,000	122,000	108,000

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Property, Plant and Equipment, Net	$95,226	$87,982	$81,159	$77,418
Deposits Assets, Noncurrent	$1,047	$36	$0	$3
Goodwill	$3,510	$3,510	$3,510	$3,510
Intangible Assets, Net (Excluding Goodwill)	$327	$300	$273	$260
Operating Lease, Right-of-Use Asset	$20,739	$40,628	$40,299	$34,800
Deferred Income Tax Assets, Net	—	—	$255	$255
Other Assets, Noncurrent	$619	$1,069	$1,002	$1,228
Assets	$276,397	$294,522	$287,686	$316,813
Deferred Income Tax Liabilities, Net	$4,197	$426	$2,936	$2,936
Operating Lease, Liability, Noncurrent	$16,687	$35,435	$32,074	$25,843
Other Liabilities, Noncurrent	$26	$2,736	$2,724	$2,690
Liabilities	$113,707	$132,323	$130,816	$142,538
Stockholders' Equity Attributable to Noncontrolling Interest	$8,572	$6,630	$7,453	$7,804
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$162,690	$162,199	$156,870	$174,275
Cash and Cash Equivalents, at Carrying Value	$23,076	$31,584	$37,880	$38,399
Short-term Investments	$26,343	$28,343	$0	$15,744
Accounts Receivable, after Allowance for Credit Loss, Current	$27,763	$26,736	$36,402	$49,208
Inventory, Net	$71,528	$70,722	$81,682	$89,085
Prepaid Expense and Other Assets, Current	$6,219	$3,612	$5,224	$6,906
Assets, Current	$154,929	$160,997	$161,188	$199,342
Accrued Liabilities, Current	$10,576	$13,555	$13,460	$15,940
Taxes Payable, Current	—	$65	$0	$5,705
Deferred Revenue, Current	—	$742	$713	$1,054
Long-term Debt, Current Maturities	$1,122	$1,179	$12,941	$12,084
Operating Lease, Liability, Current	$4,800	$8,977	$11,982	$12,270
Other Liabilities, Current	$3,200	$968	$129	$111
Liabilities, Current	$44,401	$46,447	$70,220	$88,551
Preferred Stock, Value, Issued	$0	$0	$0	$0
Common Stock, Value, Issued	$20	$20	$20	$20
Additional Paid in Capital	$86,667	$89,457	$90,939	$91,807
Treasury Stock, Common, Value	$248	$248	$3,246	$5,249
Retained Earnings (Accumulated Deficit)	$67,679	$66,340	$61,704	$79,893
Stockholders' Equity Attributable to Parent	$154,118	$155,569	$149,417	$166,471
Accounts Receivable, Allowance for Credit Loss, Current	$392	$758	$581	$1,009
Debt Instrument, Unamortized Discount, Noncurrent	—	$141	$78	$46
Long-term Debt, Excluding Current Maturities	$203	—	—	$187
Preferred Stock, Shares Authorized	10,000,000	10,000,000	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0	0	0
Common Stock, Shares Authorized	100,000,000	100,000,000	100,000,000	100,000,000
Common Stock, Shares, Issued	19,988,482	20,059,505	20,122,505	20,156,605
Common Stock, Shares, Outstanding	19,965,482	20,036,505	19,962,131	19,922,721
Treasury Stock, Common, Shares	23,000	23,000	160,374	233,884

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$33,180	$30,824	$32,664	$51,587
Net Cash Provided by (Used in) Operating Activities	$53,379	$47,982	$33,815	$56,684
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$7,035	$8,508	$6,296	$7,850
Depreciation, Depletion and Amortization	$10,783	$10,675	$10,891	$10,993
Payments to Acquire Property, Plant, and Equipment	$2,835	$934	$756	$1,103
Accounts Receivable, Credit Loss Expense (Reversal)	$-711	$468	$168	$762
Proceeds from Sale of Property, Plant, and Equipment	$841	$134	$1,509	$1,034
Inventory Write-down	$-399	$290	$70	$78
Operating Lease, Impairment Loss	—	$1,993	$0	$0
Gain (Loss) on Disposition of Property Plant Equipment	—	$0	$493	$133
Payments to Acquire Short-term Investments	$49,188	$50,806	$16,300	$15,744
Amortization of Deferred Loan Origination Fees, Net	$-81	$-92	$-125	$-180
Proceeds from Sale of Short-term Investments	$23,000	$48,856	$44,643	$26,443
Net Cash Provided by (Used in) Investing Activities	$-30,174	$-5,855	$25,399	$5,975
Share-based Payment Arrangement, Noncash Expense	$770	$2,065	$1,182	$1,229
Operating Lease, Right-of-Use Asset, Amortization Expense	$4,969	$7,622	$10,227	$10,828
Deferred Income Tax Expense (Benefit)	$-959	$-3,771	$2,255	$2,255
GovernmentAssistanceAmount	—	$360	$70	$70
Repayments of Long-term Debt	$1,010	$1,122	$12,717	$13,366
Proceeds from Lines of Credit	$0	—	$4,500	$4,500
Proceeds from Stock Options Exercised	$123	$725	$300	$135
Payments for Repurchase of Common Stock	—	—	$2,998	$5,001
Payments of Ordinary Dividends, Common Stock	$20,909	$31,016	$36,100	$36,005
Payment, Tax Withholding, Share-based Payment Arrangement	$0	—	$377	$376
Payments to Noncontrolling Interests	—	$2,326	$0	$0
Net Cash Provided by (Used in) Financing Activities	$-16,170	$-33,619	$-52,918	$-54,809
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$23,076	$31,584	$37,880	$34,087
Property, Plant and Equipment, Transfers and Changes	$10,463	$3,708	$3,785	$4,413
Proceeds from Income Tax Refunds	—	$10,969	$9,136	$9,136
Interest Paid, Excluding Capitalized Interest, Operating Activities	$1,996	$2,031	$1,910	$1,694
Increase (Decrease) in Accounts Receivable	$-2,860	$-559	$9,834	$13,585
Increase (Decrease) in Inventories	$3,820	$942	$11,947	$1,695
Increase (Decrease) in Prepaid Expense and Other Assets	$466	$-2,776	$1,343	$2,553
Increase (Decrease) in Other Operating Assets	$-1,439	$79	$-15	$-16
Increase (Decrease) in Accounts Payable	$696	$-260	$7,791	$389
Increase (Decrease) in Accrued Liabilities	$1,571	$2,979	$-95	$1,712
Increase (Decrease) in Due to Related Parties	$366	$-2,176	$1,542	$-584
Increase (Decrease) in Income Taxes Payable	$0	$65	$-65	$5,554
Increase (Decrease) in Deferred Revenue	—	$-281	$-29	$-83
IncreaseDecreaseInOperatingLeaseLiability	$-4,642	$-6,679	$-10,254	$-11,551
Increase (Decrease) in Other Operating Liabilities	$574	$-45	$98	$15

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Import this data to Google Sheets with:

=jivedata("KRT","financials")

Full statements spill as a table. For one cell: =jivedata("KRT","Revenue") or =jivedata("KRT","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.