CleanSpark Inc (CLSK)
Days of sales outstanding (DSO)
| Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Receivables turnover | — | — | 2.73 | 7.43 | — | — | 33,772.00 | 1,419.18 | 2,714.17 | 4,073.93 | 4,871.26 | 1,286.37 | 16.59 | 18.24 | 161.04 | 10.36 | 8.98 | 6.96 | 11.61 | 5.96 | |
| DSO | days | — | — | 133.63 | 49.15 | — | — | 0.01 | 0.26 | 0.13 | 0.09 | 0.07 | 0.28 | 22.01 | 20.01 | 2.27 | 35.22 | 40.64 | 52.47 | 31.44 | 61.26 |
March 31, 2025 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ —
= —
The analysis of CleanSpark Inc's days of sales outstanding (DSO) over the specified period reveals significant fluctuations indicative of underlying operational and credit management dynamics. Initially, in June 2020, the DSO stood at approximately 61.26 days, suggesting a relatively extended period to collect receivables. This metric decreased notably in the subsequent quarter, dropping to approximately 31.44 days by September 2020, which indicates an improvement in collection efficiency. However, the DSO increased again to about 52.47 days by December 2020 and further settled at around 40.64 days in March 2021.
In the following year, a notable trend emerges—a sharp decline to exceptionally low levels. By September 2021, the DSO plummeted to approximately 2.27 days, and it decreased further to 20.01 days in December 2021. The early 2022 data reflects a relatively stable and low DSO, hovering around 22 days in March and June 2022, and an even more minimal 0.07 to 0.28 days in late 2022 and early 2023. These figures suggest an extraordinary reduction in receivables collection period, approaching near-immediate collection.
Moving forward to September 2023, the DSO further declined to approximately 0.01 days, essentially indicating that receivables were being collected almost immediately or that there was minimal outstanding accounts receivable. However, by June 2024, the DSO experienced a substantial increase to approximately 49.15 days, signaling a possible change in collection practices, credit policies, or revenue recognition. This upward shift is accentuated by the data for September 2024, where DSO reached approximately 133.63 days, indicating a significant deterioration in collection efficiency or potential delays in receivables.
Several key observations can be drawn from this data. The initial period shows a relatively high DSO, normal for early-stage or growing companies, followed by a dramatic and sustained reduction to near-zero levels, which might correspond with changes in billing or collection strategies, or extraordinary accounting adjustments. The subsequent rise in DSO during 2024 suggests a reversal of earlier efficiencies, possibly reflecting longer payment terms, collection difficulties, or changes in customer creditworthiness.
Overall, the DSO trend indicates a period of improving receivables collection up to the early part of 2023, followed by notable volatility and deterioration in late 2023 and 2024. These fluctuations underscore the importance of monitoring collection practices, credit policies, and potential impacts on cash flow stability over this timeframe.
Peer comparison
Mar 31, 2025