Cytokinetics Inc (CYTK)

Receivables 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	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
Revenue (ttm)	US$ in thousands	7,530	7,815	9,952	95,246	91,781	141,206	139,967	56,649	58,061	9,383	45,819	46,569	47,834	47,611	14,609	16,776	20,245	23,344	29,275	29,730
Receivables	US$ in thousands	1,283	2,499	985	1,006	147	2,294	1,973	6,056	51,819	644	2,701	4,514	4,420	4,965	2,254	2,704	5,163	6,576	8,993	4,165
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

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $7,530K ÷ $1,283K
= 5.87

The receivables turnover ratio measures how efficiently a company collects its accounts receivable during a period. In the case of Cytokinetics Inc, the receivables turnover has fluctuated significantly over the recent quarters.

In Q1 2023, the receivables turnover ratio was particularly high at 97.47, indicating that the company was able to collect its accounts receivable nearly 97 times during that quarter. This exceptionally high ratio could be due to various factors such as collection efforts, favorable payment terms or a decrease in credit sales.

In contrast, the receivables turnover ratio dropped to 3.13 in Q3 2023, which suggests that the company's collection efficiency decreased significantly compared to Q1 2023. It is important for the company to investigate the reasons behind this decline to ensure timely collection of receivables.

Overall, the fluctuating trend in receivables turnover ratios for Cytokinetics Inc indicates the need for close monitoring and management of accounts receivable to maintain a healthy cash flow and liquidity position.