CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents (including $2,022 and $1,163 associated with variable interest entity at December 31, 2022 and 2021, respectively)	$ 16,041	$ 6,483
Accounts receivable, net of allowance for bad debt of $1,260 and $250 at December 31, 2022 and 2021, respectively (including $6 and $24 associated with variable interest entity at December 31, 2022 and 2021, respectively)	29,912	32,776
Inventories	71,206	58,472
Prepaid expenses and other current assets (including $191 and $63 associated with variable interest entity at December 31, 2022 and 2021, respectively)	6,641	5,141
Total current assets	123,800	102,872
Property and equipment, net (including $45,399 and $46,612 associated with variable interest entity at December 31, 2022 and 2021, respectively)	95,568	93,475
Deposits	12,413	6,885
Goodwill	3,510	3,510
Intangible assets, net	353	380
Operating right-of-use assets	15,713	0
Other assets (including $38 and $65 associated with variable interest entity at December 31, 2022 and 2021, respectively)	818	477
Total assets	252,175	207,599
Current liabilities
Accounts payable (including $2 and $136 associated with variable interest entity at December 31, 2022 and 2021, respectively)	18,559	18,470
Accrued expenses (including $625 and $68 associated with variable interest entity at December 31, 2022 and 2021, respectively)	9,005	7,813
Related party payable	4,940	2,003
Income taxes payable (including $0 and $9 associated with variable interest entity at December 31, 2022 and 2021, respectively)	0	85
Customer deposits (including $165 and $88 associated with variable interest entity at December 31, 2022 and 2021, respectively)	1,281	1,215
Debt, current portion (including $957 and $1,178 associated with variable interest entity at December 31, 2022 and 2021, respectively)	957	1,178
Operating lease liabilities, current portion	4,511	0
Total current liabilities	39,253	30,764
Deferred tax liability	5,156	5,634
Long-term debt, net of current portion and debt discount of $216 and $200 at December 31, 2022 and December 31, 2021, respectively (including $41,558 and $35,339 associated with variable interest entity at December 31, 2022 and 2021, respectively, and debt discount of $216 and $200 associated with variable interest entity at December 31, 2022 and 2021, respectively)	41,558	35,339
Operating lease liabilities, net of current portion	11,623	0
Other liabilities (including $1,302 and $2,637 associated with variable interest entity at December 31, 2022 and 2021, respectively)	2,652	3,837
Total liabilities	100,242	75,574
Commitments and Contingencies (Note 18)
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, 2022 and 2021	0	0
Common stock, $0.001 par value, 100,000,000 shares authorized, 19,908,005 and 19,885,005 shares issued and outstanding, respectively, as of December 31, 2022 and 19,827,417 and 19,804,417 shares issued and outstanding, respectively, as of December 31, 2021	20	20
Additional paid in capital	85,792	83,694
Treasury stock, $0.001 par value, 23,000 shares as of both December 31, 2022 and 2021	(248)	(248)
Retained earnings	56,118	39,434
Total Karat Packaging Inc. stockholders’ equity	141,682	122,900
Noncontrolling interest	10,251	9,125
Total stockholders’ equity	151,933	132,025
Total liabilities and stockholders’ equity	$ 252,175	$ 207,599