BioLife Solutions Inc (BLFS)

Number of days of payables

		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
Payables turnover		15.38	12.03	11.87	12.44	12.32	11.10	12.44	5.68	3.77	2.25	2.63	5.45	6.73	16.53	11.05	8.29	7.67	12.70	20.36	12.94
Number of days of payables	days	23.74	30.35	30.75	29.34	29.62	32.87	29.33	64.31	96.91	162.53	138.82	66.95	54.22	22.08	33.02	44.04	47.62	28.74	17.93	28.20

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 15.38
= 23.74

BioLife Solutions Inc's number of days of payables has shown fluctuations over the past years, ranging from as low as 17.93 days to as high as 162.53 days. The trend suggests that the company's payables are managed relatively efficiently in recent periods, with lower numbers indicating quicker payment to suppliers. The decrease in days of payables from March 2022 to December 2023 reflects a potential improvement in the company's ability to settle its obligations promptly. However, the significant fluctuation seen in previous years, particularly the spike in payables days in the first quarter of 2022, may indicate past challenges in managing payment terms with suppliers. Overall, a lower number of days of payables is generally favorable as it may signify effective working capital management and positive relationships with vendors.