NeoGenomics Inc (NEO)

Receivables 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
Revenue (ttm)	US$ in thousands	601,638	580,487	554,336	529,041	507,523	493,983	486,680	484,258	482,622	482,400	486,504	451,757	442,254	425,319	404,547	419,283	408,830	378,437	342,861	308,894
Receivables	US$ in thousands	131,227	132,640	125,425	118,842	119,711	111,994	111,276	110,796	112,130	104,964	106,284	102,922	106,843	103,697	87,766	99,972	94,242	91,133	89,991	82,585
Receivables turnover		4.58	4.38	4.42	4.45	4.24	4.41	4.37	4.37	4.30	4.60	4.58	4.39	4.14	4.10	4.61	4.19	4.34	4.15	3.81	3.74

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $601,638K ÷ $131,227K
= 4.58

Neogenomics Inc.'s receivables turnover ratio, which indicates how efficiently the company collects on its credit sales, has been relatively stable over the past eight quarters, fluctuating between 4.26 and 4.51. The average value of the receivables turnover ratio during this period is approximately 4.40.

A higher receivables turnover ratio is generally preferred as it indicates that the company is collecting its accounts receivable more quickly. Neogenomics Inc.'s receivables turnover ratio above 4 suggests that the company is managing its accounts receivable effectively, with customers paying their debts roughly every 4-5 months on average.

Overall, the consistent performance of Neogenomics Inc. in maintaining a healthy receivables turnover ratio signifies a good level of efficiency in converting credit sales into cash, which is essential for maintaining liquidity and financial health.