Appfolio Inc (APPF)

Receivables 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
Revenue (ttm)	US$ in thousands	680,437	627,476	577,852	536,077	505,125	473,067	444,385	414,806	386,300	359,871	336,457	323,816	315,202	308,229	302,747	287,049	269,765	254,358	237,843	220,663
Receivables	US$ in thousands	26,179	27,709	20,359	20,033	17,416	16,503	14,884	16,175	16,154	12,595	12,184	14,973	12,524	10,057	9,416	12,663	9,617	7,562	8,039	8,180
Receivables turnover		25.99	22.65	28.38	26.76	29.00	28.67	29.86	25.64	23.91	28.57	27.61	21.63	25.17	30.65	32.15	22.67	28.05	33.64	29.59	26.98

March 31, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $680,437K ÷ $26,179K
= 25.99

The receivables turnover ratio measures how efficiently a company is collecting its accounts receivable from customers. A higher turnover ratio indicates that the company is collecting its receivables more quickly.

Analyzing the receivables turnover trend for Appfolio Inc over the past several quarters, we observe fluctuations in the ratio. The ratio ranged from a low of 21.63 to a high of 33.64 over the past year, indicating some variability in the collection efficiency of the company.

The most recent receivables turnover ratio as of March 31, 2024, is 25.99, which is higher than the ratio in the previous quarter (22.65). This suggests that Appfolio Inc improved its efficiency in collecting accounts receivable during the quarter.

Overall, the trend in the receivables turnover ratio for Appfolio Inc shows some variability, but the company has generally maintained a moderate to high level of efficiency in collecting its receivables over the past few quarters. Monitoring this ratio going forward will be important to assess the company's effectiveness in managing its accounts receivable.