← Karat Packaging Inc.
| Annual Trend | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Net sales | $295.5m |
$364.2m
+23.26%
|
$423.0m
+16.12%
|
$405.7m
-4.09%
|
$422.6m
+4.19%
|
$467.7m
+10.67%
|
$493.4m
+5.48%
|
|
| Cost of goods sold | $206.4m |
$256.4m
+24.24%
|
$290.9m
+13.44%
|
$252.6m
-13.15%
|
$258.3m
+2.25%
|
$295.6m
+14.44%
|
$292.4m
-1.08%
|
|
| Gross profit | $89.1m |
$107.8m
+20.98%
|
$132.1m
+22.50%
|
$153.0m
+15.87%
|
$164.3m
+7.37%
|
$172.1m
+4.75%
|
$201.0m
+16.74%
|
|
| 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 | $77.1m | |
| Total operating expenses | $61.4m | $84.7m | $102.1m | $111.0m | $126.6m | $130.7m | $138.0m | |
| Operating income | $27.7m |
$23.1m
-16.43%
|
$30.0m
+29.68%
|
$42.1m
+40.18%
|
$37.8m
-10.26%
|
$41.4m
+9.67%
|
$63.0m
+52.07%
|
|
| 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) | $1.9m | |
| 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 | $2.4m | |
| Other income (expenses) | ||||||||
| Other income, net | — | — | — | — | $162k | $73k | $4.5m | |
| 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 | — | |
| Provision for income taxes | $5.3m | $5.1m | $6.7m | $9.8m | $9.9m | $10.4m | — | |
| Net income | $16.7m |
$22.4m
+34.62%
|
$25.8m
+15.14%
|
$33.2m
+28.42%
|
$30.8m
-7.10%
|
$32.7m
+5.97%
|
$50.2m
+53.71%
|
|
| Net income attributable to Karat Packaging Inc. | $17.5m | $20.8m | $23.6m | $32.5m | $30.0m | $31.5m | $50.2m | |
| 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 | — | |
| Selling expenses | $22.2m | $32.3m | $35.8m | $41.5m | $52.3m | $53.8m | — | |
| (Gain) loss, net, on disposal of machinery and impairment expense | — | — | ($32k) | $2.5m | $2.8m | ($493k) | — | |
| 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 | — | |
| (Loss) gain on foreign currency transactions | ($688k) | ($412k) | $1.6m | $103k | $520k | ($1.5m) | — |