CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents (including $14,411 and $2,022 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	$ 23,225	$ 16,041
Short-term investments	10,000	0
Accounts receivable, net of allowance for doubtful accounts of $451 and $1,260 at March 31, 2023 and December 31, 2022, respectively (including $12 and $6 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	32,973	29,912
Inventories	70,909	71,206
Prepaid expenses and other current assets (including $136 and $191 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	4,448	6,641
Total current assets	141,555	123,800
Property and equipment, net (including $45,095 and $45,399 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	99,416	95,568
Deposits	11,700	12,413
Goodwill	3,510	3,510
Intangible assets, net	347	353
Operating right-of-use assets	14,716	15,713
Other assets (including $73 and $38 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	2,036	818
Total assets	273,280	252,175
Current liabilities
Accounts payable (including $2 associated with variable interest entity at both March 31, 2023 and December 31, 2022)	17,740	18,559
Accrued expenses (including $210 and $625 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	7,878	9,005
Related party payable	9,907	4,940
Income taxes payable	1,782	0
Customer deposits (including $182 and $165 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	955	1,281
Long-term debt, current portion (including $962 and $957 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	962	957
Operating lease liabilities, current portion	4,506	4,511
Other payables	452	0
Total current liabilities	44,182	39,253
Deferred tax liability	5,156	5,156
Long-term debt, net of current portion and debt discount of $202 and $216 at March 31, 2023 and December 31, 2022, respectively (including $49,325 and $41,558 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively, and debt discount of $202 and $216 associated with variable interest entity at March 31, 2023 and December 31, 2022, respectively)	49,325	41,558
Operating lease liabilities, net of current portion	10,561	11,623
Other liabilities (including $1,302 associated with variable interest entity at both March 31, 2023 and December 31, 2022)	2,674	2,652
Total liabilities	111,898	100,242
Commitments and Contingencies (Note 16)
Karat Packaging Inc. stockholders’ equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued and outstanding, at both March 31, 2023 and December 31, 2022	0	0
Common stock, $0.001 par value, 100,000,000 shares authorized, 19,910,457 and 19,887,457 shares issued and outstanding, respectively, as of March 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	86,055	85,792
Treasury stock, $0.001 par value, 23,000 shares at both March 31, 2023 and December 31, 2022	(248)	(248)
Retained earnings	65,123	56,118
Total Karat Packaging Inc. stockholders’ equity	150,950	141,682
Noncontrolling interest	10,432	10,251
Total stockholders’ equity	161,382	151,933
Total liabilities and stockholders’ equity	$ 273,280	$ 252,175