Paylocity Holdng (PCTY)

Inventory turnover

		Jun 30, 2024	Mar 31, 2024	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
Cost of revenue (ttm)	US$ in thousands	441,729	421,555	401,286	383,963	367,039	347,727	327,551	308,296	287,002	268,658	250,446	233,167	219,298	206,123	196,878	188,760	182,010	176,229	167,893	160,539
Inventory	US$ in thousands	—	—	3,358,800	2,610,790	2,699,520	3,275,990	3,134,250	0	4,456	—	—	—	—	—	—	—	—	—	—	—
Inventory turnover		—	—	0.12	0.15	0.14	0.11	0.10	—	64.41	—	—	—	—	—	—	—	—	—	—	—

June 30, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $441,729K ÷ $—K
= —

The inventory turnover ratio for Paylocity Holding has shown inconsistent performance based on the available data. The ratio improved significantly from 0.10 in December 2023 to 0.15 in March 2024, indicating that the company was able to sell and replace its inventory more frequently during this period. However, the ratio dropped to 0.12 in December 2023, suggesting a slightly slower turnover of inventory compared to the previous quarter.

Notably, there are data gaps for Jun 30, 2024, Sep 30, 2022, and Dec 31, 2021, indicating that inventory turnover information is not available for these periods. In June 2022, there was a notably high inventory turnover of 64.41, which could be an outlier or may require further investigation to understand the underlying reasons for such a spike in turnover.

Overall, the trend in inventory turnover for Paylocity Holding appears inconsistent and may require closer monitoring to assess the efficiency of the company's inventory management and sales strategies.