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.