BioLife Solutions Inc (BLFS)

Payables turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	52,851	106,674	189,322	56,292	24,721
Payables	US$ in thousands	3,573	2,270	15,367	14,945	3,672
Payables turnover		14.79	46.99	12.32	3.77	6.73

December 31, 2024 calculation

Payables turnover = Cost of revenue ÷ Payables
= $52,851K ÷ $3,573K
= 14.79

BioLife Solutions Inc's payables turnover has displayed significant fluctuations over the years.

- In 2020, the payables turnover ratio was 6.73, indicating that the company paid off its accounts payable approximately 6.73 times during that year.
- In 2021, the ratio decreased to 3.77, reflecting a noticeable slowdown in the frequency of paying off suppliers and vendors.
- By the end of 2022, the payables turnover ratio surged to 12.32, showing a substantial improvement in the speed at which the company settled its payables.
- The ratio skyrocketed to 46.99 by the end of 2023, indicating a remarkable efficiency in managing accounts payable, with the company clearing its payables almost 47 times during the year.
- However, by the end of 2024, the payables turnover ratio decreased to 14.79, suggesting a slight slowdown in the pace of settling accounts payable compared to the previous year.

Overall, BioLife Solutions Inc's payables turnover has experienced significant variability, with both improvements and declines in the efficiency of paying off creditors over the years.