Filing Flows › Karat Packaging (KRT) › Q2 2026 › vs Q1 2026
Karat Packaging (KRT) Q2 2026 vs Q1 2026 (quarter over quarter)
Karat Packaging's revenue rose $19.4M (+17%) from $117M in Q1 2026 to $136M in Q2 2026. The biggest changes: Chains and distributors +$13.1M (+14%); Online +$6.3M (+32%); Retail +$3K (+0.1%). Gross margin 56.6% against 35.5% (+21.1 pts).
Karat Packaging, Q2 2026: revenue $136M (+10% year over year), operating margin 27.6%, net earnings $29.3M, operating cash flow $33.2M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 56.6% | 35.5% | +21.1 pts |
| Operating margin | 27.6% | 7.2% | +20.3 pts |
| Net margin | 21.5% | 5.8% | +15.8 pts |
| Free cash flow margin | 24.3% | 5.7% | +18.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Chains and distributors | $106M | $92.9M | $13.1M | +14% |
| Online | $25.8M | $19.5M | $6.3M | +32% |
| Retail | $4.5M | $4.5M | $3K | +0.1% |
| Revenue | $136M | $117M | $19.4M | +17% |
| Gross profit | $77.2M | $41.5M | $35.6M | +86% |
| Cost of revenue | $59.1M | $75.4M | −$16.3M | -22% |
| Other income, net | $1.4M | $918K | $506K | +55% |
| Operating profit | $37.6M | $8.5M | $29.1M | +344% |
| Operating expenses | $39.6M | $33.1M | $6.5M | +20% |
| Pre-tax earnings | $39.0M | $9.4M | $29.6M | +316% |
| Sales & marketing | $17.5M | $12.9M | $4.6M | +36% |
| General & admin | $22.0M | $20.1M | $1.8M | +9% |
| Net earnings | $29.3M | $6.7M | $22.6M | +335% |
| Minority interests | $318K | $400K | −$82K | -20% |
| Income tax | $9.4M | $2.2M | $7.1M | +318% |
| Depreciation & amortization | $2.7M | $2.7M | −$14K | -0.5% |
| Share-based compensation | $596K | $242K | $354K | +146% |
| Working capital & other | $500K | −$2.5M | $3.0M | — |
| Operating cash flow | $33.2M | $7.2M | $26.0M | +361% |
| Free cash flow (OCF − capex) | $33.1M | $6.6M | $26.5M | +400% |
| Capital expenditures | $56K | $565K | −$509K | -90% |
Questions
How much did Karat Packaging's revenue grow quarter over quarter in Q2 2026?
Karat Packaging's revenue rose $19.4M (+17%) from $117M in Q1 2026 to $136M in Q2 2026.
What drove Karat Packaging's revenue change in Q2 2026?
Chains and distributors +$13.1M (+14%); Online +$6.3M (+32%); Retail +$3K (+0.1%).