BioLife Solutions Inc (BLFS)
Inventory turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 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 | 23,908 | 19,941 | 17,835 | 16,360 |
| Inventory | US$ in thousands | 43,456 | 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 | 10,972 | 5,694 | 5,306 | 4,060 |
| Inventory turnover | 2.46 | 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 | 2.18 | 3.50 | 3.36 | 4.03 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $106,723K ÷ $43,456K
= 2.46
BioLife Solutions Inc's inventory turnover has exhibited volatility over the past few years, ranging from a low of 1.00 to a high of 5.42. Generally, a higher inventory turnover ratio indicates better efficiency in managing inventory levels.
From December 2020 to March 2021, there was a significant increase in inventory turnover from 1.00 to 2.00, reflecting a more efficient management of inventory during this period. However, there was a slight dip in the subsequent quarter (June 2021), but the ratio remained above 2.00, indicating ongoing improvements.
The inventory turnover ratio peaked at 5.42 in December 2022, demonstrating a considerable improvement in managing inventory levels efficiently. However, the ratio has since fluctuated, with a downward trend in the most recent quarters, reaching 2.46 in December 2023.
Overall, while BioLife Solutions has shown some fluctuations in inventory turnover, it is essential for the company to maintain a balance to ensure optimal inventory management and avoid overstocking or stockouts that could impact its financial performance.
Peer comparison
Dec 31, 2023
Dec 31, 2023