Cytek Biosciences Inc (CTKB)

Inventory turnover

		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
Cost of revenue (ttm)	US$ in thousands	89,347	90,708	89,035	89,385	83,588	77,365	70,158	64,225	63,062	59,358	58,733	53,798	48,697	44,609	41,099	41,302	41,129
Inventory	US$ in thousands	43,893	46,800	50,070	54,742	60,877	66,875	65,731	69,502	48,154	49,369	45,345	37,982	32,171	27,511	26,655	26,218	23,018
Inventory turnover		2.04	1.94	1.78	1.63	1.37	1.16	1.07	0.92	1.31	1.20	1.30	1.42	1.51	1.62	1.54	1.58	1.79

December 31, 2024 calculation

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

Cytek Biosciences Inc's inventory turnover has shown a decreasing trend over the analyzed period. The inventory turnover ratio measures how efficiently a company is managing its inventory by indicating the number of times the company sells and replaces its inventory during a specific period.

From December 31, 2020, to December 31, 2022, the inventory turnover ratio gradually decreased from 1.79 to 1.31. This decline suggests that Cytek Biosciences Inc took longer to sell and replace its inventory during this period.

Subsequently, the ratio increased to 1.78 by June 30, 2024, indicating an improvement in managing inventory efficiency. The significant rise in inventory turnover from December 31, 2024, to 2.04 indicates that Cytek Biosciences Inc was more effective in selling and replacing its inventory during this period.

Overall, the fluctuations in the inventory turnover ratio for Cytek Biosciences Inc suggest varying efficiency levels in managing inventory, with a notable improvement observed in the latter part of the analyzed period.