Cytek Biosciences Inc (CTKB)

Cash conversion cycle

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Days of inventory on hand (DOH) days 179.31 265.83 278.71 240.59 204.27
Days of sales outstanding (DSO) days
Number of days of payables days
Cash conversion cycle days 179.31 265.83 278.71 240.59 204.27

December 31, 2024 calculation

Cash conversion cycle = DOH + DSO – Number of days of payables
= 179.31 + — – —
= 179.31

Cytek Biosciences Inc's cash conversion cycle has shown fluctuations over the years. The cycle increased from 204.27 days at the end of 2020 to 240.59 days at the end of 2021, indicating a slower conversion of inventory and receivables into cash. This trend continued with a further increase to 278.71 days by the end of 2022, suggesting potential inefficiencies in managing the company's working capital.

However, there was a notable improvement in 2024 as the cash conversion cycle decreased to 179.31 days. This positive change indicates a more efficient utilization of resources and a quicker conversion of inventory and receivables into cash, which could be attributed to enhanced operational processes or strategic changes within the company.

Overall, Cytek Biosciences Inc should continue monitoring and managing its cash conversion cycle to ensure optimal utilization of resources and maintain healthy liquidity levels in the future.