|
Net sales
|
|
$295.5m
|
$364.2m
|
$423.0m
|
$405.7m
|
$422.6m
|
$467.7m
|
|
Cost of goods sold
|
|
$206.4m
|
$256.4m
|
$290.9m
|
$252.6m
|
$258.3m
|
$295.6m
|
|
Gross profit
|
|
$89.1m
|
$107.8m
|
$132.1m
|
$153.0m
|
$164.3m
|
$172.1m
|
|
Total operating expenses
|
|
$61.4m
|
$84.7m
|
$102.1m
|
$111.0m
|
$126.6m
|
$130.7m
|
|
Operating income
|
|
$27.7m
|
$23.1m
|
$30.0m
|
$42.1m
|
$37.8m
|
$41.4m
|
|
Rental income (including $1,516 and $1,038 associated with variable interest entity for the year ended December 31, 2025 and 2024, respectively)
|
|
$322k
|
$931k
|
$949k
|
$1.1m
|
$2.1m
|
$2.9m
|
|
Other income, net
|
|
—
|
—
|
—
|
—
|
$162k
|
$73k
|
|
(Loss) gain on foreign currency transactions
|
|
($688k)
|
($412k)
|
$1.6m
|
$103k
|
$520k
|
($1.5m)
|
|
Interest income (including $586 and $470 associated with variable interest entity for the year ended December 31, 2025 and 2024, respectively)
|
|
—
|
$1.5m
|
$2.2m
|
$1.8m
|
$2.3m
|
$2.2m
|
|
Provision for income taxes
|
|
$5.3m
|
$5.1m
|
$6.7m
|
$9.8m
|
$9.9m
|
$10.4m
|
|
Total other income, net
|
|
($5.8m)
|
$4.4m
|
$2.5m
|
$908k
|
$2.9m
|
$1.6m
|
|
Income before provision for income taxes
|
|
$21.9m
|
$27.5m
|
$32.5m
|
$43.0m
|
$40.7m
|
$43.0m
|
|
Net income
|
|
$16.7m
|
$22.4m
|
$25.8m
|
$33.2m
|
$30.8m
|
$32.7m
|
|
Net income attributable to Karat Packaging Inc.
|
|
$17.5m
|
$20.8m
|
$23.6m
|
$32.5m
|
$30.0m
|
$31.5m
|
|
Net income attributable to noncontrolling interest
|
|
($849k)
|
$1.7m
|
$2.2m
|
$710k
|
$849k
|
$1.2m
|
|
Basic (in dollars per share)
|
|
$1.15
|
$1.13
|
$1.19
|
$1.63
|
$1.50
|
$1.57
|
|
Diluted (in dollars per share)
|
|
$1.13
|
$1.12
|
$1.19
|
$1.63
|
$1.49
|
$1.56
|
|
Weighted average common shares outstanding, basic (in shares)
|
|
15.2m
|
18.4m
|
19.8m
|
19.9m
|
20.0m
|
20.1m
|
|
Weighted average common shares outstanding, diluted (in shares)
|
|
15.4m
|
18.6m
|
19.9m
|
20.0m
|
20.1m
|
20.2m
|
|
Other income (expenses)
|
|
|
|
|
|
|
|
|
Selling expenses
|
|
$22.2m
|
$32.3m
|
$35.8m
|
$41.5m
|
$52.3m
|
$53.8m
|
|
General and administrative expenses (including $2,855 and $2,358 associated with variable interest entity for the year ended December 31, 2025 and 2024, respectively)
|
|
$39.2m
|
$52.4m
|
$66.2m
|
$67.0m
|
$71.5m
|
$77.4m
|
|
(Gain) loss, net, on disposal of machinery and impairment expense
|
|
—
|
—
|
($32k)
|
$2.5m
|
$2.8m
|
($493k)
|
|
Interest expense (including $1,966 and $2,062 associated with variable interest entity for the year ended December 31, 2025 and 2024, respectively)
|
|
—
|
($2.9m)
|
($2.0m)
|
($2.0m)
|
($2.1m)
|
($2.1m)
|