BioLife Solutions Inc (BLFS)

Quick ratio

		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	US$ in thousands	95,386	23,977	22,014	29,694	27,896	19,235	21,400	19,105	19,442	27,036	24,001	59,463	69,860	75,098	76,246	89,012	90,403	93,984	29,900	6,400
Short-term investments	US$ in thousands	9,198	15,323	14,886	16,406	16,893	22,965	26,700	37,795	44,658	35,064	22,999	—	40	—	5,872	—	5,872	3,610	—	—
Receivables	US$ in thousands	9,168	17,918	18,064	18,574	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
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
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

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($95,386K + $9,198K + $9,168K) ÷ $32,734K
= 3.48

The quick ratio of BioLife Solutions Inc has exhibited fluctuations over the period from March 31, 2020, to December 31, 2024. The quick ratio provides insight into the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.

The quick ratio started at a relatively low level of 0.57 on March 31, 2020, showing potential liquidity concerns in the short term. However, there was a significant improvement by June 30, 2020, when the quick ratio surged to 4.57, indicating a substantial increase in the level of liquid assets relative to current liabilities.

Subsequently, the quick ratio continued to rise steadily, reaching its peak at 12.40 on September 30, 2020, which may suggest a robust financial position with a strong ability to cover short-term obligations.

Following this peak, the quick ratio experienced some fluctuations through the rest of 2020 and into 2021, hovering around levels above 2.00, which generally indicate that the company has an adequate ability to meet its short-term liabilities with its quick assets.

By the end of 2023, however, the quick ratio declined to 1.50 on December 31, 2023, raising some concerns about the liquidity position of the company, as this level may indicate potential difficulties in meeting short-term obligations with available liquid assets.

Furthermore, the quick ratio remained relatively stable through the first half of 2024, staying around 1.70 on June 30, 2024, and September 30, 2024. This indicates that the company may still be facing challenges in meeting its short-term obligations with available liquid assets.

Finally, the quick ratio showed an increase to 3.48 on December 31, 2024, signaling a significant improvement in the liquidity position compared to the previous quarters.

Overall, the analysis of BioLife Solutions Inc's quick ratio suggests that while the company has experienced fluctuations in its ability to cover short-term liabilities with quick assets, it is crucial for the company to maintain a healthy level of liquidity to ensure its financial stability and operational efficiency.