Cytek Biosciences Inc (CTKB)

Days of inventory on hand (DOH)

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Inventory turnover		2.04	1.37	1.31	1.52	1.79
DOH	days	179.31	265.83	278.71	240.59	204.27

December 31, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.04
= 179.31

Cytek Biosciences Inc's Days of Inventory on Hand (DOH) has shown varying trends over the past five years. The DOH increased from 204.27 days as of December 31, 2020, to 240.59 days as of December 31, 2021. This indicates that the company was holding its inventory for a longer period in 2021 compared to 2020.

Subsequently, there was a further increase in DOH to 278.71 days by December 31, 2022, suggesting a continued trend of holding inventory for an extended period. However, by December 31, 2023, the DOH decreased to 265.83 days, indicating a slight improvement in inventory turnover efficiency.

Notably, there was a significant drop in the DOH to 179.31 days by December 31, 2024, marking a substantial improvement in inventory management efficiency. This reduction suggests that Cytek Biosciences Inc was able to better manage its inventory levels and turnover rate, potentially resulting in lower storage costs and improved cash flow.

Overall, while there were fluctuations in the DOH over the period analyzed, the decreasing trend seen in the most recent year indicates a positive development in Cytek Biosciences Inc's inventory management effectiveness.