Cytek Biosciences Inc (CTKB)

Inventory turnover

		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
Cost of revenue (ttm)	US$ in thousands	83,588	77,365	70,158	64,225	63,062	59,850	59,334	54,399
Inventory	US$ in thousands	60,877	66,875	65,731	69,502	48,154	49,369	45,345	37,982	32,171	27,511	26,655
Inventory turnover		1.37	1.16	1.07	0.92	1.31	1.21	1.31	1.43

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $83,588K ÷ $60,877K
= 1.37

The inventory turnover ratio of Cytek Biosciences Inc has fluctuated over the past several quarters, indicating varying efficiency in managing its inventory levels.

In general, a higher inventory turnover ratio is preferred as it suggests that a company is selling its inventory more quickly. In the most recent quarter (December 31, 2023), Cytek Biosciences had an inventory turnover of 1.37, which was an improvement compared to the previous quarter. This signifies that the company was able to sell and replace its inventory 1.37 times during the period.

Looking further back, the trend in inventory turnover shows some fluctuations, with higher ratios recorded in some quarters (e.g., March 31, 2022 and September 30, 2022) and lower ratios in others (e.g., March 31, 2023 and September 30, 2023). These fluctuations could indicate changes in demand, production efficiencies, or inventory management practices within the company.

Overall, Cytek Biosciences should aim to maintain a consistent and ideally increasing inventory turnover ratio to ensure optimal utilization of its inventory and efficient operations. Further analysis and comparison with industry benchmarks may provide additional insights into the company's inventory management performance.