BioLife Solutions Inc (BLFS)

Receivables 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
Revenue (ttm)	US$ in thousands	142,796	154,008	161,427	162,452	161,032	154,468	147,521	138,192	118,837	96,581	74,057	52,773	48,087	41,249	36,673	33,590	27,367	25,090	23,762	22,134
Receivables	US$ in thousands	18,657	24,556	26,860	30,343	33,936	32,436	31,257	24,271	23,217	20,232	21,093	10,669	8,006	6,095	4,351	8,205	5,345	4,313	3,832	2,927
Receivables turnover		7.65	6.27	6.01	5.35	4.75	4.76	4.72	5.69	5.12	4.77	3.51	4.95	6.01	6.77	8.43	4.09	5.12	5.82	6.20	7.56

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $142,796K ÷ $18,657K
= 7.65

The receivables turnover ratio measures how efficiently a company is able to collect cash from customers on credit sales. It is calculated by dividing net credit sales by average accounts receivable. A higher receivables turnover indicates that the company is collecting its receivables more quickly.

BioLife Solutions Inc's receivables turnover has shown fluctuations over the past few quarters. The ratio has ranged from 3.51 to 8.43 during the period from March 2019 to December 2023. Generally, a higher turnover ratio is preferred as it signifies more efficient management of receivables.

In the latest quarter, ending December 31, 2023, BioLife Solutions Inc achieved a receivables turnover ratio of 7.65, indicating that the company collected its receivables 7.65 times during the year. This suggests a significant improvement in the efficiency of receivables collection compared to previous quarters. It's essential for the company to maintain a consistent and relatively high receivables turnover ratio to ensure a healthy cash flow and efficient management of working capital.