Dynavax Technologies Corporation (DVAX)

Inventory turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	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	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Cost of revenue (ttm)	US$ in thousands	49,445	44,724	44,869	46,421	50,167	118,966	167,071	236,903	262,153	258,677	257,433	188,909	173,572	103,618	47,559	33,883	13,910	14,582	16,699	19,968
Inventory	US$ in thousands	70,054	62,402	62,462	61,806	53,290	49,412	53,088	57,693	59,446	102,609	73,979	79,038	61,335	67,297	86,451	68,846	63,689	59,033	54,392	48,099
Inventory turnover		0.71	0.72	0.72	0.75	0.94	2.41	3.15	4.11	4.41	2.52	3.48	2.39	2.83	1.54	0.55	0.49	0.22	0.25	0.31	0.42

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $49,445K ÷ $70,054K
= 0.71

The inventory turnover ratio for Dynavax Technologies Corporation has shown fluctuating trends over the reporting periods. From March 31, 2020, to December 31, 2021, the ratio consistently decreased from 0.42 to 2.83, indicating a significant improvement in inventory management efficiency. However, from March 31, 2022, to December 31, 2024, the ratio fluctuated between 0.75 and 4.41, showing less consistency in managing inventory turnover.

The peak inventory turnover of 4.41 on December 31, 2022, suggests that the company significantly reduced its inventory holding period, which can be a positive sign of effective inventory management. However, the subsequent decrease in the ratio to 0.71 by December 31, 2024, implies a potential increase in inventory holding period, which may lead to increased carrying costs and liquidity challenges.

Overall, Dynavax Technologies Corporation should continue monitoring its inventory turnover ratio to ensure efficient management of inventory levels, balancing the need to avoid stockouts while minimizing carrying costs.