BioLife Solutions Inc (BLFS)

Payables 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
Payables	US$ in thousands	6,940	11,980	10,686	15,525	15,367	13,140	11,537	11,711	14,945	14,296	9,847	4,276	3,672	2,355	3,077	3,522	3,119	1,570	876	1,264
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

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $106,723K ÷ $6,940K
= 15.38

The payables turnover ratio for BioLife Solutions Inc has fluctuated over the past few quarters. The ratio measures how efficiently the company is managing its accounts payable by assessing how many times during a period the company pays off its suppliers.

In the latest quarter, the payables turnover ratio was relatively high at 15.38, indicating that BioLife Solutions Inc is paying off its suppliers approximately 15 times a year, which suggests strong liquidity and a good relationship with suppliers.

Looking back over the previous quarters, there is variability in the payables turnover ratio, with some quarters showing lower ratios such as in March 2021 and June 2022, and others showing higher ratios such as in June 2020 and December 2019.

It is important to consider the company's industry standards and historical performance when analyzing the payables turnover ratio. Further investigation into the reasons behind the fluctuations in the ratio could provide insights into the company's payment practices and cash management efficiency.