BioLife Solutions Inc (BLFS)

Working capital turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	102,868	122,972	125,729	136,909	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
Total current assets	US$ in thousands	148,761	89,383	88,200	111,700	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
Total current liabilities	US$ in thousands	32,734	32,166	30,819	38,658	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
Working capital turnover		0.89	2.15	2.19	1.87	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

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $102,868K ÷ ($148,761K – $32,734K)
= 0.89

The working capital turnover ratio measures how efficiently a company utilizes its working capital to generate sales revenue. A higher working capital turnover indicates that the company is effectively managing its working capital to support its operations.

Based on the data provided for BioLife Solutions Inc, we observe fluctuations in the working capital turnover ratio over the years. The ratio was relatively high at 33.93 as of March 31, 2020, but then significantly dropped to 0.95 by June 30, 2020. This sharp decrease may indicate inefficient use of working capital during that period.

Subsequently, the working capital turnover ratio continued to fluctuate, reaching its lowest point of 0.35 on September 30, 2020. However, there was a gradual improvement in the ratio over the following quarters, demonstrating a better utilization of working capital to drive sales.

By December 31, 2021, the working capital turnover ratio had increased to 1.43, showing a positive trend in efficiency. The ratio continued to rise steadily, peaking at 2.19 on June 30, 2024, indicating that BioLife Solutions Inc was effectively leveraging its working capital to support its sales growth during that period.

Overall, the company's working capital turnover ratio experienced fluctuations but demonstrated an improvement over the years, suggesting better management of working capital to drive sales revenue efficiently.