Progyny Inc (PGNY)
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Receivables turnover | 3.80 | 3.26 | 3.09 | 2.41 | 2.78 | 2.16 | 2.32 | 2.40 | 3.17 | 2.96 | 2.71 | 2.76 | 3.75 | 3.00 | 3.70 | ||||
| DSO | days | 95.93 | 112.08 | 118.07 | 151.16 | 131.12 | 168.69 | 157.31 | 151.92 | 115.28 | 123.26 | 134.88 | 132.28 | 97.41 | 121.65 | 98.55 |
December 31, 2023 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ 3.80
= 95.93
To analyze Progyny Inc's Days Sales Outstanding (DSO) performance, we observe a declining trend over the past four quarters. DSO decreased from 134.52 days in Q3 2022 to 81.10 days in Q4 2023, indicating the company is collecting its accounts receivable more efficiently. This improvement suggests that Progyny is managing its sales and collections processes effectively or providing more favorable credit terms to customers.
However, it is noteworthy that there was a spike in DSO in Q1 2023 to 130.95 days, which may have been an anomaly or could indicate potential issues in collections during that quarter. It's essential for Progyny to monitor any fluctuations in DSO closely to ensure timely collections and maintain healthy cash flows.
Overall, the decreasing trend in DSO is a positive sign, reflecting improved efficiency in receivables management for Progyny Inc.
Peer comparison
Dec 31, 2023