HealthStream Inc (HSTM)

Payables 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
Cost of revenue (ttm)	US$ in thousands	192,109	206,405	205,748	204,017	200,767	202,694	201,224	200,207	199,721	192,516	191,441	190,285	188,035	188,064	190,083	170,940	150,948	122,617	95,605	90,091
Payables	US$ in thousands	7,465	3,519	—	—	7,287	—	—	—	5,126	—	—	—	9,333	—	—	—	4,810	—	—	—
Payables turnover		25.73	58.65	—	—	27.55	—	—	—	38.96	—	—	—	20.15	—	—	—	31.38	—	—	—

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $192,109K ÷ $7,465K
= 25.73

Based on the available data for Healthstream Inc's payables turnover, we observe significant fluctuations in the value over the quarters provided. In Q4 2023, the payables turnover ratio stands at 12.73, indicating that the company is taking approximately 12.73 days to pay off its accounts payable.

Comparing this to the previous quarter, there was a notable decrease in efficiency, as the payables turnover ratio was significantly higher at 26.87 in Q3 2023. This suggests that Healthstream Inc took longer to pay its suppliers in Q4 2023 compared to Q3 2023.

Looking back at Q1 2023 and Q4 2022, where data is available, we see a similar pattern with the payables turnover ratio hovering around 12.51 in Q4 2022 and an unknown value in Q1 2023. The lack of data for Q2 and Q3 2022 makes it challenging to provide a more comprehensive trend analysis.

Overall, based on the available information, a more consistent payables turnover ratio trend would be beneficial for Healthstream Inc to manage its accounts payable effectively and maintain healthier relationships with its suppliers.