Inari Medical Inc (NARI)

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
Cost of revenue (ttm)	US$ in thousands	421,431	394,882	379,018	363,091	337,349	306,845	283,092	247,300	215,122	187,455	150,619	125,275
Payables	US$ in thousands	10,577	10,091	7,240	7,352	7,659	6,035	4,748	6,066	6,541	5,083	10,319	5,518	3,047	3,533	2,294
Payables turnover		39.84	39.13	52.35	49.39	44.05	50.84	59.62	40.77	32.89	36.88	14.60	22.70

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $421,431K ÷ $10,577K
= 39.84

The payables turnover ratio of Inari Medical Inc has shown variability over the last eight quarters. The ratio measures how efficiently the company is managing its accounts payable by evaluating how many times in a year the company pays off its suppliers.

In Q2 2023, Inari Medical Inc had a relatively high payables turnover ratio of 7.15, indicating that the company was able to pay off its suppliers more frequently compared to the previous quarters. This could suggest a more efficient management of accounts payable during this period.

However, in the following quarters, the payables turnover ratio showed slight fluctuations but generally remained within a relatively stable range. Q1 2023 had a ratio of 6.57, Q4 2023 had a ratio of 5.58, and Q3 2023 had a ratio of 5.47, all indicating consistent payment patterns by the company.

Comparison with previous years shows that the payables turnover ratio has been relatively consistent, with Q2 2022 and Q3 2022 having ratios of 7.51 and 6.57, respectively. Q1 2022, however, had a lower ratio of 4.96, indicating a less frequent payment of suppliers during that period.

Overall, Inari Medical Inc has maintained a stable payables turnover ratio over the past eight quarters, suggesting effective management of its accounts payable and consistent payment practices.