CleanSpark Inc (CLSK)
Inventory turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 320,859 | 269,733 | 222,791 | 187,003 | 155,759 | 143,543 | 119,742 | 131,130 | 118,408 | 105,010 | 90,230 | 39,921 | 22,704 | 15,558 | 11,255 | 5,195 | 6,942 | 8,318 | 7,868 | 8,731 |
| Inventory | US$ in thousands | — | — | — | 1,538 | 991 | 732 | 809 | 1,037 | 746 | 392 | 216 | 0 | 1,259 | 1,432 | 80 | 4,040 | 856 | 277 | 248 | 0 |
| Inventory turnover | — | — | — | 121.59 | 157.17 | 196.10 | 148.01 | 126.45 | 158.72 | 267.88 | 417.73 | — | 18.03 | 10.86 | 140.69 | 1.29 | 8.11 | 30.03 | 31.73 | — |
March 31, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $320,859K ÷ $—K
= —
The inventory turnover ratios for CleanSpark Inc. exhibit significant fluctuations over the analyzed period, indicating considerable variability in the company's inventory management efficiency. In the fiscal year ending June 30, 2020, data is not available, but noteworthy changes emerge subsequently. During the third quarter of 2020, the ratio stands at 31.73, reflecting a relatively high speed of inventory conversion into sales. This ratio slightly declines to 30.03 in the fourth quarter of 2020, suggesting stable inventory management.
A marked decline occurs in the first quarter of 2021, where the turnover drops sharply to 8.11, signaling a substantial slowdown in inventory movement. The decline continues into the second quarter of 2021, reaching a low point of 1.29, which may indicate overstocking, slow sales, or inventory piling-up during this period. However, a dramatic spike appears in the third quarter of 2021, with the ratio soaring to 140.69, indicating a rapid liquidation or turn at that time.
Following this peak, the ratio decreases again, reaching 10.86 in the fourth quarter of 2021 and then increasing to 18.03 in the first quarter of 2022, depicting a period of recovery. The second quarter of 2022 lacks data, but subsequent figures show instability. Notably, the third quarter of 2022 reports a remarkable ratio of 417.73, suggesting a rapid decrease in inventory or an extraordinary sales event, followed by a significant decline to 267.88 in the fourth quarter of 2022 and 158.72 in the first quarter of 2023.
In the subsequent quarters, the ratio stabilizes somewhat, fluctuating between approximately 121.59 and 196.10, with the latest data point in the third quarter of 2024 at 157.17. Overall, the pattern indicates periods of extreme volatility, with episodes of very high turnover ratios possibly reflecting either rapid inventory absorption or unusual accounting or operational circumstances. These fluctuations suggest that CleanSpark Inc.'s inventory management and sales process have experienced significant inconsistencies, which could be indicative of underlying strategic shifts, inventory buildup, or irregular sales cycles over the analyzed timeframe.
Peer comparison
Mar 31, 2025
Mar 31, 2025