Karat Packaging Inc. (KRT) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19
	10-K	10-K	10-K/A	S-1/A
Revenues [+]	0.0	364.2	295.5	224.9
Products	423.0	364.2	295.5	224.9
Revenue growth	-100.0%	23.3%	31.4%
Cost of goods sold	0.0	256.4	206.4	163.9
Gross profit	0.0	107.8	89.1	61.0
Gross margin		29.6%	30.2%	27.1%
Selling, general and administrative [+]	2.8	84.7	61.4	55.2
Sales and marketing		32.3	22.2	16.5
General and administrative	2.8	52.4	39.2	38.7
Other operating expenses	-2.8			-2.4
EBITDA [+]		33.2	36.3
EBITDA growth	-100.0%	-8.5%	342.0%
EBITDA margin		9.1%	12.3%	3.6%
Depreciation and amortization		10.0	8.6
EBIT [+]	0.0	23.1	27.7	8.2
EBIT growth	-100.0%	-16.4%	237.6%
EBIT margin		6.4%	9.4%	3.6%
Non-recurring items [+]				2.4
Loss (gain) on sale of assets				2.4
Interest expense, net [+]	-0.4	1.4	5.5	4.8
Interest expense	1.8	2.9	5.5	4.8
Interest income	2.2	1.5
Other income (expense), net [+]	-0.4	5.8	-0.3	1.9
Gain (loss) on sale of assets			0.0
Gain (loss) on debt retirement		5.0
Gain (loss) on foreign currency transactions	1.6	-0.4	-0.7
Other non-operating income			0.1
Other	1.0	1.2	0.4
Pre-tax income	0.0	27.5	21.9	2.9
Income taxes	0.0	5.1	5.3	0.8
Tax rate		18.5%	24.0%	26.5%
Minority interest		1.7	-0.8	-0.4
Net income	0.0	20.8	17.5	1.7
Net margin		5.7%	5.9%	0.8%

Basic EPS [+]	$0.00	$1.13	$1.15	$0.11
Growth	-100.0%	-2.2%	917.0%
Diluted EPS [+]	$0.00	$1.12	$1.13	$0.11
Growth	-100.0%	-1.3%	899.1%

Dividends per share [+]	$0.35		$0.04
Growth		-100.0%

Shares outstanding (basic) [+]	19.8	18.4	15.2	15.2
Growth	7.7%	21.3%	-0.1%
Shares outstanding (diluted) [+]	19.9	18.6	15.4	15.2
Growth	7.3%	20.2%	1.7%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.