Impinj Inc (PI)
Inventory turnover
| Sep 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 269,391 | 258,173 | 260,596 | 262,461 | 255,659 | 247,656 | 226,607 | 203,173 | 188,305 | 177,833 | 167,615 | 163,474 | 156,653 | 145,192 | 137,573 | 137,404 | 138,086 | 143,203 | 144,554 | 121,584 |
| Inventory | US$ in thousands | 88,357 | 80,773 | 87,757 | 97,172 | 106,806 | 112,323 | 85,809 | 46,397 | 31,925 | 32,047 | 31,561 | 21,958 | 18,434 | 24,064 | 28,067 | 36,329 | 37,982 | 37,091 | 31,763 | 34,153 |
| Inventory turnover | 3.05 | 3.20 | 2.97 | 2.70 | 2.39 | 2.20 | 2.64 | 4.38 | 5.90 | 5.55 | 5.31 | 7.44 | 8.50 | 6.03 | 4.90 | 3.78 | 3.64 | 3.86 | 4.55 | 3.56 |
September 30, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $269,391K ÷ $88,357K
= 3.05
Impinj Inc's inventory turnover ratio fluctuated over the past few quarters. It decreased from 3.56 in the fourth quarter of 2019 to 2.64 in the first quarter of 2023 before gradually increasing to 3.20 in the second quarter of 2024. This indicates that the company's efficiency in managing its inventory improved over time, reaching its peak turnover of 5.90 in the third quarter of 2022.
A high inventory turnover ratio signifies that Impinj Inc is selling its inventory quickly, which is generally a positive sign. However, the company experienced a dip in inventory turnover in the fourth quarter of 2023, suggesting potential challenges in managing inventory levels efficiently during that period.
Overall, Impinj Inc's inventory turnover performance has shown variability, but the trend has been positive, with a general improvement in inventory management efficiency over the quarters analyzed.
Peer comparison
Sep 30, 2024
Sep 30, 2024