Karat Packaging Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	24.02	31.58	23.08	16.04	6.48	0.45
Short-Term Investments	19.95	28.34	26.34	-	-	-
Cash & Short-Term Investments	43.97	59.93	49.42	16.04	6.48	0.45
Cash Growth	-27.25%	21.26%	208.08%	147.43%	1347.10%	-44.14%
Receivables	37.87	26.74	27.76	29.91	32.78	23.84
Inventory	84.13	70.72	71.53	71.21	58.47	48.96
Prepaid Expenses	4.71	3.61	6.22	6.64	5.14	6.53
Total Current Assets	170.68	161	154.93	123.8	102.87	79.78
Property, Plant & Equipment	127.14	128.61	115.97	111.28	93.48	95.53
Goodwill	3.51	3.51	3.51	3.51	3.51	3.11
Other Intangible Assets	0.28	0.3	0.33	0.35	0.38	-
Long-Term Deferred Tax Assets	0.2	-	-	-	-	0.06
Other Long-Term Assets	1.04	1.11	1.67	13.23	7.36	2.62
Total Assets	302.84	294.52	276.4	252.18	207.6	181.1
Accounts Payable	28.39	20.96	23.75	23.5	20.47	25.11
Accrued Expenses	16.21	13.56	10.58	9.01	7.44	4.66
Short-Term Debt	1	-	-	-	-	-
Current Portion of Long-Term Debt	21.1	1.18	1.12	0.96	1.18	11.36
Current Portion of Leases	11.65	8.98	4.8	4.51	-	0.32
Current Income Taxes Payable	-	0.07	-	-	0.09	0.04
Current Unearned Revenue	1.12	0.81	3.75	1.28	-	-
Other Current Liabilities	0.14	0.9	0.4	-	1.59	1.65
Total Current Liabilities	79.6	46.45	44.4	39.25	30.76	43.14
Long-Term Debt	23.03	47.28	48.4	41.56	36.67	89.43
Long-Term Leases	35.25	35.44	16.69	11.62	-	0.29
Long-Term Unearned Revenue	-	2.37	-	2.65	2.5	2.2
Long-Term Deferred Tax Liabilities	0.62	0.43	4.2	5.16	5.63	6.18
Other Long-Term Liabilities	2.74	0.36	0.03	-	0	-
Total Liabilities	141.25	132.32	113.71	100.24	75.57	141.24
Common Stock	0.02	0.02	0.02	0.02	0.02	0.02
Additional Paid-In Capital	90.8	89.46	86.67	85.79	83.69	13.98
Retained Earnings	63.91	66.34	67.68	56.12	39.43	18.66
Treasury Stock	-0.25	-0.25	-0.25	-0.25	-0.25	-0.25
Total Common Equity	154.48	155.57	154.12	141.68	122.9	32.4
Minority Interest	7.11	6.63	8.57	10.25	9.13	7.46
Shareholders' Equity	161.59	162.2	162.69	151.93	132.03	39.87
Total Liabilities & Equity	302.84	294.52	276.4	252.18	207.6	181.1
Total Debt	92.03	92.87	71.01	58.65	37.85	101.4
Net Cash (Debt)	-48.06	-32.94	-21.59	-42.61	-31.37	-100.95
Net Cash Per Share	-2.38	-1.64	-1.08	-2.14	-1.69	-6.54
Filing Date Shares Outstanding	20.1	20.04	19.97	19.89	19.81	15.17
Total Common Shares Outstanding	20.1	19.99	19.97	19.89	19.8	15.17
Working Capital	91.08	114.55	110.53	84.55	72.11	36.64
Book Value Per Share	7.69	7.78	7.72	7.13	6.21	2.14
Tangible Book Value	150.69	151.76	150.28	137.82	119.01	29.29
Tangible Book Value Per Share	7.50	7.59	7.53	6.93	6.01	1.93
Land	11.91	11.91	11.91	11.91	11.91	11.91
Buildings	38.85	38.78	38.5	36.6	35.39	34.13
Machinery	77.73	76.43	75.47	78.57	67.81	60.37
Construction In Progress	0.21	0.43	-	-	-	-
Leasehold Improvements	19.21	19.19	19.09	19.06	18.66	17.83

Source: S&P Global Market Intelligence. Standard template. Financial Sources.