Glaukos Corp (GKOS)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	326,976	289,237	248,305	265,544	221,560
Inventory	US$ in thousands	41,986	37,841	23,011	15,809	42,578
Inventory turnover		7.79	7.64	10.79	16.80	5.20

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $326,976K ÷ $41,986K
= 7.79

The inventory turnover ratio for Glaukos Corporation has fluctuated over the past five years. In 2023, the inventory turnover stood at 1.80, indicating that the company converted its inventory into sales 1.80 times during the year. This ratio decreased slightly from 1.82 in 2022.

The trend shows a significant decline from 2019 to 2020, where the inventory turnover ratio dropped to 0.91 before increasing in the subsequent years. In 2021, there was a notable improvement with an inventory turnover of 2.90, followed by a further increase to 5.80 in 2022.

The lower inventory turnover ratios in 2020 and 2019 may suggest that the company was facing challenges in effectively managing its inventory levels or experiencing slower sales. Conversely, the higher ratios in 2022 and 2023 indicate improvements in inventory management efficiency and potentially better sales performance.

Overall, Glaukos Corporation's inventory turnover has shown variability in recent years, and it is essential for the company to continue monitoring and optimizing its inventory management practices to ensure efficient operations and maximize profitability.