BioLife Solutions Inc (BLFS)

Inventory turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	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
Cost of revenue (ttm)	US$ in thousands	52,557	74,386	95,192	103,106	106,723	144,095	126,844	193,158	189,347	145,904	143,561	66,469	56,290	32,105	25,891	23,311	24,721	38,922	34,012	29,193
Inventory	US$ in thousands	29,013	32,179	32,496	43,414	27,164	43,354	39,177	41,329	34,904	33,747	33,335	30,200	28,345	29,696	25,866	11,666	11,602	11,037	10,890	10,829
Inventory turnover		1.81	2.31	2.93	2.37	3.93	3.32	3.24	4.67	5.42	4.32	4.31	2.20	1.99	1.08	1.00	2.00	2.13	3.53	3.12	2.70

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $52,557K ÷ $29,013K
= 1.81

BioLife Solutions Inc's inventory turnover has fluctuated over the period from March 31, 2020, to December 31, 2024. The inventory turnover ratio measures how efficiently a company manages its inventory by showing how many times inventory is sold and replaced over a certain period.

The trend in inventory turnover for BioLife Solutions Inc shows some variability. The company experienced an increase in its inventory turnover from March 31, 2020, to September 30, 2022, peaking at 5.42 on December 31, 2022. This indicates that BioLife Solutions Inc was able to sell and replace its inventory more frequently during this period.

However, after December 31, 2022, the inventory turnover ratio started to decline, reaching its lowest point of 1.81 on December 31, 2024. A decreasing inventory turnover ratio may suggest that the company is holding onto excess inventory or facing challenges in selling its products efficiently.

Overall, BioLife Solutions Inc should aim to strike a balance in managing its inventory levels to ensure optimal turnover rates, thereby maximizing profitability and minimizing holding costs. Monitoring and analyzing changes in the inventory turnover ratio can provide insights into the company's operational efficiency and inventory management strategies.