BioLife Solutions Inc (BLFS)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 35,407 | 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 | 6,448 | 21,205 | 19,617 | 31,824 |
| Short-term investments | US$ in thousands | 16,288 | 22,965 | 26,700 | 37,795 | 44,658 | 35,064 | 22,999 | — | 40 | — | 5,872 | — | 5,872 | 3,610 | — | — | — | — | — | — |
| 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 |
| 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 |
| Quick ratio | 1.67 | 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 | 1.54 | 5.09 | 7.41 | 12.87 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($35,407K
+ $16,288K
+ $18,657K)
÷ $42,178K
= 1.67
The quick ratio of BioLife Solutions Inc has shown fluctuations over the past few quarters, but overall, it has generally been at healthy levels. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.
Looking at the trend, the quick ratio was quite high in the first three quarters of 2020 and 2021, indicating a strong ability to cover short-term obligations. However, in the subsequent quarters, the ratio experienced fluctuations, dropping to a low of 0.57 in the first quarter of 2020, which may suggest a potential liquidity issue or increased short-term debt obligations during that period.
It's worth noting that the quick ratio surged to exceptionally high levels of 6.09, 6.70,12.40, and 4.57 in the second and third quarters of 2021 and the first quarter of 2022, respectively. These spikes could be the result of increased cash or highly liquid asset holdings relative to the company's current liabilities during those periods.
The quick ratio then fluctuated around the 2 to 3 range in the subsequent quarters of 2022 and 2023, which still indicates a healthy liquidity position overall. The ratio was highest at 3.30 in the third quarter of 2021, indicating an improved ability to cover short-term obligations.
Overall, BioLife Solutions Inc has demonstrated a strong ability to meet its short-term obligations with its liquid assets, although some fluctuations in the quick ratio warrant further investigation to understand the underlying reasons for these variations.
Peer comparison
Dec 31, 2023