Altair Engineering Inc (ALTR)

Inventory turnover

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Cost of revenue (ttm)	US$ in thousands	398,264	399,716	411,186	411,514	408,719	403,498	393,786	383,979	376,836	377,674	370,033	362,236	345,600	336,787	334,739	336,869	342,137	286,240	238,978	183,255
Inventory	US$ in thousands	0	—	0	0	0	—	0	0	—	—	—	—	—	—	2,700	2,800	1,800	2,400	3,400	2,800
Inventory turnover		—	—	—	—	—	—	—	—	—	—	—	—	—	—	123.98	120.31	190.08	119.27	70.29	65.45

March 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $398,264K ÷ $0K
= —

Altair Engineering Inc's inventory turnover has shown a fluctuating trend over the past few quarters. From December 31, 2019, to March 31, 2020, there was a significant increase in inventory turnover from 65.45 to 119.27, which indicates that the company was selling its inventory more efficiently during that period. This improvement continued into June 30, 2020, with a further increase in inventory turnover to 190.08.

However, the inventory turnover decreased slightly in the subsequent quarters, reaching 123.98 by September 30, 2020. This indicates a slight decline in the efficiency of inventory management compared to the earlier quarters. The trend continued as of December 31, 2020, when the inventory turnover was 70.29, suggesting a decrease in the rate at which inventory was being sold.

Overall, Altair Engineering Inc's inventory turnover has demonstrated variability in recent quarters, with both increases and decreases in efficiency in managing and selling its inventory. It is important for the company to closely monitor this ratio to ensure optimal utilization of its inventory and maximize profitability.