Cytokinetics Inc (CYTK)

Days of sales outstanding (DSO)

		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	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Receivables turnover		5.87	3.13	10.10	94.68	624.36	61.55	70.94	9.35	1.12	14.57	16.96	10.32	10.82	9.59	6.48	6.20	3.92	3.55	3.26	7.14
DSO	days	62.19	116.72	36.13	3.86	0.58	5.93	5.15	39.02	325.76	25.05	21.52	35.38	33.73	38.06	56.32	58.83	93.08	102.82	112.12	51.13

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 5.87
= 62.19

To analyze Cytokinetics Inc's Days Sales Outstanding (DSO) trend based on the data provided, we observe significant fluctuations in DSO values over the past eight quarters.

In Q4 2023, the DSO was 62.19 days, a substantial increase from the previous quarter's 116.72 days. This spike indicates a slower collection of accounts receivable compared to the previous period.

The DSO was the highest in Q3 2023 at 116.72 days, signifying a prolonged time taken to convert sales into cash receipts. This sharp increase from Q2 2023, where the DSO was 36.13 days, suggests potential issues with credit policies or collections efficiency during that quarter.

Q1 2023 recorded a DSO of 3.74 days, indicating a much faster conversion of sales into cash, possibly due to efficient collections management or increased cash sales.

Notably, Q4 2022 and Q3 2022 had extremely low DSO figures of 0.57 days and 5.65 days, respectively, suggesting very efficient accounts receivable turnover during those periods.

Overall, Cytokinetics Inc's DSO has shown significant variability, reflecting fluctuations in the company's ability to collect outstanding receivables promptly. It is essential for the company to analyze the reasons behind these fluctuations to maintain a healthy cash conversion cycle and liquidity position.