Artivion Inc (AORT)

Days of inventory on hand (DOH)

		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	Mar 31, 2019
Inventory turnover		4.26	4.24	4.08	3.92	3.24	2.72	2.02	1.37	1.32	1.23	1.23	1.18	1.17	1.23	1.37	1.70	1.76	1.91	2.02	2.05
DOH	days	85.60	86.13	89.41	93.19	112.63	134.21	180.70	266.01	277.28	295.90	295.92	309.85	312.01	297.03	266.32	214.88	207.82	190.64	180.41	178.22

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 4.26
= 85.60

Artivion Inc's Days of Inventory on Hand (DOH) has shown fluctuation over the past eight quarters, ranging from 239.70 days to 266.01 days. The trend indicates that the company has been able to slightly reduce its inventory holding period in the most recent quarter compared to the previous three quarters. However, the DOH remains high, suggesting that Artivion Inc may be carrying excess inventory relative to its sales volume.

The decrease in DOH from Q2 2022 to Q4 2023 may indicate improved inventory management efficiency, as the company may have reduced inventory levels or improved inventory turnover. However, the DOH is still relatively high, which could tie up working capital and potentially lead to higher holding costs.

It is important for Artivion Inc to closely monitor its inventory levels and ensure they are aligned with sales demand to optimize working capital utilization and minimize holding costs. Further analysis of the company's inventory turnover ratio and comparison with industry benchmarks would provide more insights into the efficiency of Artivion Inc's inventory management practices.