QuinStreet Inc (QNST)

Receivables turnover

		Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Revenue	US$ in thousands	1,093,710	613,514	580,624	582,099	578,487
Receivables	US$ in thousands	135,804	111,849	67,748	81,429	87,928
Receivables turnover		8.05	5.49	8.57	7.15	6.58

June 30, 2025 calculation

Receivables turnover = Revenue ÷ Receivables
= $1,093,710K ÷ $135,804K
= 8.05

The receivables turnover ratio for QuinStreet Inc. demonstrates variability over the period from June 30, 2021, through June 30, 2025. As of June 30, 2021, the ratio was 6.58, indicating that accounts receivable were collected approximately 6.58 times during that fiscal year. This ratio increased to 7.15 by June 30, 2022, suggesting an improvement in the efficiency of receivables collection. The upward trend continued into June 30, 2023, with the ratio reaching 8.57, which may reflected further enhancements in collection processes or changes in credit policies, translating into receivables being turned over more frequently within the year.

However, in the subsequent year ending June 30, 2024, the ratio declined sharply to 5.49, indicating a slowdown in receivables turnover and potentially suggesting issues such as delayed collections, extended credit terms, or deteriorations in customer payment behavior. Despite this dip, the ratio rebounded to 8.05 by June 30, 2025, approaching the levels observed in 2023, which could imply a return to more efficient receivables management or improved cash flow conditions.

Overall, the receivables turnover ratio exhibits fluctuations, with a notable dip in 2024 disrupting the prior upward trend. These changes reflect the company's varying efficiency in collecting receivables and may warrant further investigation into underlying factors such as credit policies, customer base characteristics, or external market conditions influencing receivables management during this period.