NeoGenomics Inc (NEO)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 370,466 | 347,039 | 321,832 | 297,269 | 258,555 |
| Inventory | US$ in thousands | 26,748 | 24,156 | 24,277 | 23,395 | 29,526 |
| Inventory turnover | 13.85 | 14.37 | 13.26 | 12.71 | 8.76 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $370,466K ÷ $26,748K
= 13.85
NeoGenomics Inc's inventory turnover has shown a steady increase over the past five years, reflecting efficient management of inventory levels. The company's inventory turnover ratio has improved from 8.76 in December 2020 to 13.85 in December 2024. This indicates that NeoGenomics is selling and replenishing its inventory at a faster rate, which could signify effective inventory management strategies. A higher inventory turnover ratio suggests that the company is selling its products quickly, reducing the risk of obsolete inventory or holding excess stock. Overall, the increasing trend in inventory turnover ratio demonstrates NeoGenomics' ability to efficiently manage its inventory and generate revenue from sales.