BioLife Solutions Inc (BLFS)

Working capital 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
Total current assets	US$ in thousands	120,604	116,824	120,311	132,789	138,452	136,215	118,359	118,968	126,088	130,505	127,414	116,543	114,712	127,784	46,254	26,450	24,113	32,067	29,139	39,157
Total current liabilities	US$ in thousands	42,178	42,622	39,587	47,319	44,582	40,418	36,369	37,752	42,700	35,793	31,275	16,381	15,573	8,362	7,490	25,460	7,669	5,014	3,163	2,701
Working capital turnover		1.82	2.08	2.00	1.90	1.72	1.61	1.80	1.70	1.43	1.02	0.77	0.53	0.49	0.35	0.95	33.93	1.66	0.93	0.91	0.61

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $142,796K ÷ ($120,604K – $42,178K)
= 1.82

The working capital turnover ratio for BioLife Solutions Inc has fluctuated over the past few years, indicating the company's efficiency in utilizing its working capital to generate sales revenue. A higher working capital turnover ratio suggests that the company is effectively employing its working capital to generate sales, while a lower ratio may indicate inefficiency or potential liquidity issues.

In the most recent period, as of December 31, 2023, the working capital turnover ratio stands at 1.82, showing a slight decrease compared to the previous period. This indicates that for every dollar of working capital, BioLife Solutions Inc generated $1.82 in sales revenue during that period.

Looking at the trend over the past few years, the working capital turnover ratio has generally shown an increasing pattern, reaching its peak at 33.93 on March 31, 2020. This exceptionally high ratio may be attributed to a specific event or anomaly during that period and should be further investigated.

Overall, a consistent and increasing trend in the working capital turnover ratio reflects an improved efficiency in utilizing working capital to drive sales growth. However, significant fluctuations or a declining trend may warrant a closer examination of the company's liquidity management and operational efficiency.