Cytek Biosciences Inc (CTKB)

Inventory turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	89,347	83,589	63,062	48,806	41,129
Inventory	US$ in thousands	43,893	60,877	48,154	32,171	23,018
Inventory turnover		2.04	1.37	1.31	1.52	1.79

December 31, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $89,347K ÷ $43,893K
= 2.04

Cytek Biosciences Inc's inventory turnover ratio has shown fluctuations over the past five years. The inventory turnover for the year ending December 31, 2020, was 1.79, indicating that the company sold its entire inventory almost twice during that year. However, by the year ending December 31, 2021, the ratio decreased to 1.52, suggesting a slight slowdown in inventory turnover.

In the subsequent years, the inventory turnover continued to decrease to 1.31 by December 31, 2022, before experiencing a slight uptick to 1.37 by December 31, 2023. Notably, by December 31, 2024, the inventory turnover ratio significantly increased to 2.04, indicating that Cytek Biosciences Inc was able to sell its inventory more efficiently during that year.

Overall, the trend in Cytek Biosciences Inc's inventory turnover suggests some fluctuations in the company's ability to efficiently manage its inventory levels and convert them into sales over the years. A higher inventory turnover ratio is generally preferred as it indicates that the company is selling goods quickly and efficiently, which can lead to improved liquidity and profitability.