LeMaitre Vascular Inc (LMAT)

Days of sales outstanding (DSO)

		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
Receivables turnover		11.57	11.81	11.84	11.67	12.78	13.94	12.93	12.87	13.63	13.62	12.64	11.48	11.28	10.87	11.22	12.51	12.31	13.59	10.82	9.19
DSO	days	31.55	30.91	30.83	31.28	28.56	26.18	28.24	28.35	26.78	26.80	28.87	31.80	32.34	33.59	32.52	29.18	29.66	26.86	33.73	39.71

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 11.57
= 31.55

To analyze Lemaitre Vascular Inc's Days of Sales Outstanding (DSO) over the past eight quarters, we observe fluctuations in the collection period for accounts receivable. The DSO measures the average number of days it takes for a company to collect payment after making a sale.

Looking at the data, we see that in Q4 2023, the DSO increased to 47.28 days from 46.98 days in the previous quarter. This indicates a slight deterioration in the efficiency of collecting receivables from customers during this period.

Comparing Q4 2023 to the same quarter of the previous year (Q4 2022), the DSO was lower at 47.28 days compared to 49.77 days. A lower DSO suggests that Lemaitre Vascular Inc improved its accounts receivable collection process over this year.

Analyzing the trend over the past eight quarters, the DSO has shown fluctuations but generally stayed within a range of 45 to 55 days. It is essential for the company to manage its DSO effectively to ensure timely collection of receivables, which impacts cash flow and liquidity.

Further investigation into the reasons behind these fluctuations in DSO, such as changes in credit policies, customer payment behavior, or the efficiency of the company's collections processes, would provide valuable insights into Lemaitre Vascular Inc's financial performance and management of working capital.