Cytek Biosciences Inc (CTKB)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Inventory turnover		1.37	1.31	-2.39
DOH	days	265.83	278.71	—

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 1.37
= 265.83

To analyze Cytek Biosciences Inc's days of inventory on hand (DOH) over the past three years:

1. Dec 31, 2023: Cytek Biosciences had an inventory on hand for an average of 265.83 days, indicating that the company took approximately 266 days to sell its inventory during that period.

2. Dec 31, 2022: The DOH increased to 278.71 days, suggesting that Cytek Biosciences took longer to sell its inventory compared to the previous year. This may imply potential issues such as overstocking, slow-moving inventory, or challenges in managing inventory levels efficiently.

3. Dec 31, 2021: Data for this period is not available, which limits the ability to compare DOH trends over the long term. However, it raises questions about the continuity and reliability of the information provided.

Overall, the trend of increasing DOH from 2022 to 2023 raises concerns about inventory management efficiency and the potential impact on working capital, profitability, and liquidity. It is essential for Cytek Biosciences to closely monitor and optimize its inventory levels to improve operational performance and financial health.