BioLife Solutions Inc (BLFS)
Liquidity ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 4.54 | 2.78 | 2.86 | 2.89 | 2.86 | 2.74 | 3.04 | 2.81 | 3.11 | 3.37 | 3.25 | 3.15 | 2.95 | 3.65 | 4.07 | 7.11 | 7.37 | 15.28 | 6.18 | 1.04 |
| Quick ratio | 3.48 | 1.78 | 1.78 | 1.67 | 1.50 | 1.57 | 1.89 | 1.84 | 2.20 | 2.34 | 2.15 | 2.22 | 2.18 | 2.66 | 3.30 | 6.09 | 6.70 | 12.40 | 4.57 | 0.57 |
| Cash ratio | 3.19 | 1.22 | 1.20 | 1.19 | 1.06 | 0.99 | 1.22 | 1.20 | 1.44 | 1.54 | 1.29 | 1.58 | 1.64 | 2.10 | 2.63 | 5.43 | 6.18 | 11.67 | 3.99 | 0.25 |
BioLife Solutions Inc's liquidity ratios show a mix of strengths and areas for improvement over the analyzed periods.
The current ratio, a measure of short-term liquidity, has fluctuated significantly but generally stayed above 1, reflecting that the company has had sufficient current assets to cover its current liabilities. However, the ratio declined from its peak in September 2020, indicating a potential decrease in the company's ability to meet its short-term obligations in recent periods.
The quick ratio, a more stringent measure of liquidity excluding inventory, showed a similar trend of fluctuation but generally stayed above 1. This indicates that the company could meet its short-term obligations without relying on selling inventory. However, the ratio also decreased over time, suggesting a weakening ability to cover immediate liabilities with its most liquid assets.
The cash ratio, which is the most conservative measure of liquidity focusing only on cash and cash equivalents, generally decreased over the analyzed periods. While the ratio remained positive, the downward trend indicates decreasing ability to cover current liabilities with cash holdings alone.
In conclusion, BioLife Solutions Inc has generally maintained adequate liquidity levels to meet its short-term obligations, as shown by the current and quick ratios staying above 1. However, the decreasing trend in these ratios over time, coupled with a declining cash ratio, suggests a need for the company to monitor and potentially improve its liquidity position in the future.
Additional liquidity measure
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash conversion cycle | days | 209.21 | 192.25 | 160.89 | 185.56 | 132.83 | 137.67 | 142.72 | 116.94 | 114.58 | 128.20 | 132.76 | 165.63 | 158.20 | 251.54 | 329.79 | 189.50 | 177.85 | 135.35 | 127.15 | 180.52 |
The cash conversion cycle of BioLife Solutions Inc has exhibited fluctuations over the past few years.
From March 2020 to June 2020, there was a significant improvement in the cash conversion cycle, decreasing from 180.52 days to 127.15 days. However, this trend reversed in the subsequent periods, with the cycle increasing to 177.85 days by December 2020.
In the following quarters, there were fluctuations in the cash conversion cycle with peaks observed in June 2021 (329.79 days) and September 2021 (251.54 days). These high values indicate a longer time taken to convert inputs into cash flows.
From December 2021 to June 2022, there was a notable improvement in the cash conversion cycle, declining to 132.76 days by June 2022. This trend continued into September 2022 and December 2022, reaching 128.20 days and 114.58 days, respectively.
There was a slight increase in the cash conversion cycle by March 2023 to 116.94 days but remained relatively stable over the next quarters. By December 2024, the cash conversion cycle stood at 209.21 days, showing a moderate increase compared to the previous periods.
Overall, fluctuations in the cash conversion cycle of BioLife Solutions Inc suggest varying efficiencies in managing its operating cycle, inventory turnover, and accounts receivable collection. The company should continue to monitor and optimize its cash conversion cycle to improve working capital management and overall financial performance.