Doximity Inc (DOCS)

Inventory turnover

		Mar 31, 2024	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	50,669	51,779	53,115	53,566	53,490	51,578	49,137	44,878	39,787
Inventory	US$ in thousands	—	5,886	2,960	3,729	5,118	5,572	—	—	—	5,060	3,107	4,103
Inventory turnover		—	8.80	17.94	14.36	10.45	9.26	—	—	—

March 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $50,669K ÷ $—K
= —

Inventory turnover is a key financial ratio that measures the efficiency of a company in managing its inventory levels. A higher inventory turnover ratio indicates that a company is selling its products quickly and efficiently. Looking at the inventory turnover trend for Doximity Inc over the past several quarters, we can observe fluctuations in the ratio.

In the most recent quarter, as of March 31, 2024, the inventory turnover ratio was not provided in the table, indicating that the data may not be available or the company might be transitioning to a new reporting period. However, in the previous quarter, as of December 31, 2023, the inventory turnover was 8.80, which suggests that the company's inventory turned over approximately 8.80 times during that period.

Comparing this with the ratios from the previous quarters, we see a fluctuating trend in inventory turnover for Doximity Inc. The ratio was relatively high in September 2023 at 17.94, indicating a more rapid turnover of inventory during that period. The ratios for June 2023, March 2023, and December 2022 were 14.36, 10.45, and 9.26 respectively, showing variations in inventory turnover efficiency over these quarters.

It is important for Doximity Inc to monitor and manage its inventory turnover effectively to ensure optimal utilization of its resources and to avoid potential issues such as overstocking or understocking. The company may need to delve deeper into the underlying factors driving these fluctuations in inventory turnover to make informed decisions and optimize its inventory management practices.