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.