Cytek Biosciences Inc (CTKB)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Revenue | US$ in thousands | 193,015 | 2,963 | 2,181 |
| Receivables | US$ in thousands | 55,928 | 48,864 | 29,760 |
| Receivables turnover | 3.45 | 0.06 | 0.07 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $193,015K ÷ $55,928K
= 3.45
The receivables turnover for Cytek Biosciences Inc has shown a significant improvement over the past three years. In 2021, the company had a low receivables turnover ratio of 0.07, indicating that it took approximately 5.14 days for the company to collect its accounts receivable. However, by the end of 2023, the receivables turnover ratio had increased to 3.45, signaling that the company was able to collect its receivables much quicker, taking around 0.10 days to collect outstanding payments. This improvement suggests that Cytek Biosciences has become more efficient in managing its accounts receivable and collecting cash from its customers in a timely manner.
Peer comparison
Dec 31, 2023